Life After Bankruptcy for a Debtor
Living in the land of Lincoln, it is perhaps some comfort to know that even Abraham Lincoln filed for bankruptcy at a point in his career. He came back to achieve prosperity. So have many others including Walt Disney, P.T. Barnum and Henry Ford. It takes some discipline but can be done. A bankruptcy attorney can assist you in
filing for bankruptcy and help you back to solvency in your life after bankruptcy.
Keep Your Job and Spend Wisely
It is obvious you must keep your job. If you lose your job, the whole spiral of debt may resume. It is also important to check your spending habits. You may file for bankruptcy only once every eight years. This means you are on your own for quite a while and must live judiciously.
Build Savings and Invest in the Future
It is good to save money so you have reserves for emergencies. When you spend it is beneficial to invest in things that will enhance your earning power such as education or, if you have a business, in assets that will increase your ability to deliver.
Admittedly having a bankruptcy on your record is not a plus. Still in time it comes off. Additionally, creditors know that with debts wiped away, you now have more means to pay bills. The first to offer you credit will likely be department stores. Use the card they offer to make modest purchases and religiously make the payments on time. Before long major credit card companies will be willing to take a chance on you. Take their credit cards and again be faithful in payments. As your record of payment becomes established, you will be offered better and better interest rates and ultimately be recognized as a good credit risk.
We assist clients to discharge their debts in bankruptcy and prepare for a new beginning after bankruptcy. We are Bizar & Doyle, a seasoned bankruptcy firm. We invite you to contact us for a free consultation about your debt situation and preparations for a brighter future.
Contact a Bankruptcy Attorney
at the firm to discuss life after bankruptcy.
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