At Nardi & Nardi, P.A., our attorneys are happy to learn that people are thinking about the future. However, we want to make certain that all thoughts about life after bankruptcy are based on facts and not on the many bankruptcy myths that are out there. With over 25 years of experience on our side, we know the truth about bankruptcy.
When you discuss it with us, we will review your specific situation so we can paint an honest picture of your financial future.
Orlando Debt Relief Lawyers:
The Truth About Bankruptcy and Credit
When the topic of life after bankruptcy comes up, what it inevitably boils down to is the issue of credit after bankruptcy. Before considering this issue, there is one important question to ask: How good is your credit now? If you are behind on your bills and being threatened with foreclosure and repossession, your credit is likely already severely damaged. Bankruptcy stops the damage and sets the stage for credit repair.
How soon will you be able to get credit after bankruptcy? Look at it this way: banks need customers. The fact that you have taken the steps to address past debt problems may make you appear to be a good risk from their perspective. You will likely be able to get credit surprisingly soon after filing. The real difference will be in the interest rates, but even those may return to normal for you surprisingly fast.
You can make your bankruptcy a learning experience by reviewing your past missteps and taking care not to repeat them. Re-examine your old patterns of spending, borrowing and repayment (or lack thereof) to better understand exactly what led you to bankruptcy, and take steps to ensure you won't go down those paths again.
Bankruptcy eliminates debt, and will not ruin your financial future.
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