Declaring bankruptcy does not need to define you or your financial future. Before filing Chapter 7 bankruptcy, make sure you consult with a bankruptcy attorney well versed in bankruptcy law. Select a firm that can guide you through this difficult process and help you rebuild for the future.
Bankruptcy Can Be A New Beginning
We all fall on financial hardships. But life can and will go on. Regardless of what caused your financial predicament, a bankruptcy attorney can help you understand your rights and limitations with your current creditors, and advise you on which steps to take to re-established your credit, including:
Portland Bankruptcy Attorney, Bankruptcy Attorney Cincinnati, Bankruptcy Attorney Pittsburgh,
» Getting and using credit cards
» Applying for a new home mortgage
» Financing a new vehicle
Why You Need A Credit Card: Obtaining a credit card and using it responsibly is one of the fastest ways to rebuild your credit.
Facts About Your Current Credit Cards: Credit cards carrying a balance during the time of filing Chapter 7:
o You must declare the full amount.
o The balance will be factored into your overall debt.
o Failure to disclose this information is illegal.
» If you have a zero balance at the time you file Chapter 7:
o You can continue to use your card
o You are not required to disclose your bankruptcy status to creditors.
o If creditors discover that you have filed for bankruptcy, they can exercise their right to revoke your card
o Some creditors will retain your business provided you enter into a new, more restrictive contract.
Apply For A New Credit Card:
Secured credit cards are for individuals with a compromised financial history. They offer lower credit limits and higher interest rates, but they allow you to re-establish your credit. In time you may qualify for a non-secure credit card.
Use Your Card Responsibly:
» Make your payments on time.
» Whenever possible, pay more than the minimum.
o Making minimum payments will cost you more in the long run.
o Making minimum payments contributes to accumulating debt.
A New Home Mortgage Within 18 to 24 Months: You can usually be considered for a home loan within two years from your filing date.
» Your down payment, current income and financial stability are more important to lenders than the details of your bankruptcy.
Looking Towards The Future.
You may be facing turbulent times, but the so-called "damage" is not irreversible.
To learn more about bankruptcy and foreclosure law please visit Chang and Carlin at http://www.changandcarlin.com
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of San Diego Bankruptcy Lawyers
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment