Over the years the topic of filing bankruptcy has had a stigma of failure. Many people avoid filing bankruptcy at all costs so they are not plagued with the stigma. What most people don't realize is that life after filing bankruptcy really isn't that bad. The credit industry is the one who would like people to believe that life is over after bankruptcy. There are many myths and legends on the Internet of how people were never able to buy a house, a car or get a credit card again because of the bankruptcy filing.
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This is far from the truth. Most creditors are capitalistic opportunists and see a person exiting bankruptcy being completely debt-free. As long as a person is still employed in making a decent living, they know the only thing this person is missing is debt. The short time after a bankruptcy discharge most individuals find themselves getting many credit offers in the mail. This is not the time to indulge as many times creditors try to suck people and charging exorbitant interest rates and fees. Signing up for credit now might just put them back where they started if they are not careful.
The best thing for someone post bankruptcy filing is to take their time and learn how to live on cash. This will force a person to budget and not spend more than they make. It will take a little bit of time to get used to, but in the long run most people enjoy living a debt-free, stress-free lifestyle. If a person waits a few years, their credit report will start to recover and credit will be available once again at fair prices. In the big scheme of things, a person is much better off filing bankruptcy and eliminating the stress of debt over living paycheck to paycheck and being constantly harassed by creditors.
While the process of filing bankruptcy can be very stressful, nothing is worse than being constantly bombarded with letters and phone calls. Prior to bankruptcy filing most individuals become withdrawn and stop answering their phone even for friends and family. It becomes a constant emotional drain on the individual and their family. Many bankruptcy attorneys have stated how their clients have expressed elation after the bankruptcy discharge. Most people feel like the weight of the world has been lifted off their shoulders. So when someone wants to know what life after filing bankruptcy is like, simply stated, it's much better than being buried under a mountain of debt.
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