Life After Bankruptcy: Tips & Expectations

Life After Bankruptcy: Filing for Bankruptcy in Phoenix

What is life like after you file for Bankruptcy?

Most people or business owners who file for bankruptcy comment that life has improved radically since they filed for bankruptcy. They can now relax and are free from the stress of legal threats, creditors calling, and the ongoing anxieties that were part of their daily lives prior to bankruptcy. They are free of most of their consumer debt and now have the opportunity to get a fresh start. They can save money, pay their obligations, and have more cash available for the daily demands of life.

There are certain aspects that require special attention, such as restoring your credit after you have filed bankruptcy, but if you carefully budget and manage your finances, without incurring more debt, you will find that you usually will be receiving high interest credit card offers within several months. Using a secured credit card for minor purchases and paying it off monthly is a good way to begin restoring your credit.

Relief from Debt

It cannot be understated how much relief there is available when you take the step of getting a fresh start through bankruptcy. In filing Chapter 7, you will have had most of your unsecured, consumer debt discharged. Those who have filed Chapter 13 due to having higher income or too many assets to qualify for Chapter 7, will still be in much better shape. They usually have had the opportunity to strip away a lot of the penalties that have made their payments impossible to manage, and they can easily support the payments on back bills over the 3 – 5 year period of payoff.

We advise anyone that is suffering undue stress due to debts to contact our firm to discuss the situation. You are given an amazing opportunity for a fresh start in filing for bankruptcy, and it is worth your time to find out if this is the way to resolve your problems, finally and completely.

Contact a Phoenix bankruptcy lawyer from our firm to find out more about filing for bankruptcy and a fresh financial start.