Life After Bankruptcy

The primary concerns of people considering filing for bankruptcy are that their credit score will be ruined forever, they will never get another loan, and people will think less of them. None of these is true.

Life After Bankruptcy

When you discharge debt, your ability to repay new loans actually improves because your debt to income ratio is lower. Creditors also know that you will not be allowed to declare bankruptcy again for several years, so they are willing to extend credit to you.

Portland, Maine Lawyer Helping Rebuild Credit

Your credit score can improve almost immediately if you are prudent and pay bills on time. Make sure you keep your job and continue to have adequate income. Be careful in your expenditures. Use credit only when necessary.

A bankruptcy filing remains on your credit report for only seven years in the case of Chapter 13, and 10 years in the case of "fresh start" Chapter 7. Worries about garnishment, creditor phone calls and threats will no longer be part of your daily life.

Finally, there is no longer a stigma attached to filing for bankruptcy. The laws have existed since the founding of the United States to allow people facing overwhelming debt to start over. It is a wise choice to do so. Everyone knows that the bankruptcy laws were amended a few years ago to root out abuse, and those benefiting from the bankruptcy laws now are not "taking advantage" of the system.

My approach as a bankruptcy lawyer is to achieve lasting solutions to my clients' problems. As in the old saying, teaching someone to fish is a long-term solution more effective than simply giving someone a fish, as the old saying goes.

I serve the Portland, Lewiston, and Auburn areas of Maine. Contact an attorney online or call 207-536-6224 to discuss your situation and life after bankruptcy.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.