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Is There Life After Bankruptcy? 5 Ways Your Lifestyle Will Change After You File

Is There Life After Bankruptcy.One of the main reasons people put off filing for bankruptcy is because they are concerned about how it will change their life. Clients ask all the time “Is there life after bankruptcy?” We tell them there most certainly is. But it’s not going to be the same as it was before filing for bankruptcy. Your lifestyle will change – and it should – after bankruptcy.

What can you expect to change after bankruptcy?

1. You Can Stop Avoiding Phone Calls

One of the greatest advantages of filing for bankruptcy is the fact that it puts an end to the phone calls from creditors and bill collectors. This happens because of the automatic stay. No longer getting phone calls doesn’t mean you’re free of the debt (yet), nor does it mean that a creditor can’t eventually pursue legal action against you. But psychologically, no longer feeling dread every time your phone rings, and not having to avoid phone calls gives you a boost and helps you feel better about your situation.

There will be ups and downs once you file, but life after bankruptcy means you won’t feel like you’re in hiding.

2. Legal Action Stops

In addition to the phone calls, the automatic stay also puts the brakes on legal action related to debt collection. This includes eviction, wage garnishment, foreclosure, vehicle repossession, and more.

Again, this doesn’t mean it stops forever, but it gives you some breathing room. You’ll be able to assess your situation with the help of a bankruptcy attorney and decide the best way to move forward. Life after bankruptcy puts some control back into your hands.

3. Your Credit Score Begins Rises

Initially, bankruptcy will negatively impact your credit score. But over time after filing, you’ll see your score begin to improve. Follow all of the basic advice available regarding bankruptcy and your credit and your score will be back into the 700s in no time at all.

4. Stress Eases

Debt, especially when it’s severe and causing problems, is a major reason why people experience anxiety and depression. For many people, bankruptcy is seen as a last resort taken in a dire financial situation. They don’t think bankruptcy could ever be a positive experience, but the truth is that it is positive for many people.

Bankruptcy is an opportunity to take charge of your out-of-control situation and gradually resume control of your finances. Easing the stress of financial woes can reduce your risk of serious health issues, which is even more important than dealing with unpaid bills.

5. You’ll Get a Blank Slate

Bankruptcy gives you a fresh start. It doesn’t guarantee you’ll never face financial struggles again, but it lets you reset this phase of your life. Having a blank slate to rebuild your credit and put your current issues behind you is one of the biggest reasons people turn to bankruptcy.

Is There Life After Bankruptcy?

Yes! But it will be different than your life before and during bankruptcy. In many ways, it’s better and you’re more in control.

Would you like to know more about how your life will change after filing for bankruptcy? Are you wondering is there life after bankruptcy and you want to know more about how it can help you? Give us a call at 813-254-5696 to discuss your situation or schedule a free consultation with a bankruptcy expert.

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Law Offices of Robert M. Geller, P.A.
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Tampa, FL 33606
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Lutz, FL 33559
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