CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

What Post-Bankruptcy Life REALLY Looks Like

Life After Bankruptcy Tampa, St Petersburg, And Pasco Florida.Life after Bankruptcy

The idea of living without debt is the dream of many. This is especially true for those dealing with financial stress on a daily basis. If you’re spending your days dodging calls from creditors and hoping you’ll be able to scrape together enough money to make a credit card payment this month, the thought of debt-free can be very appealing.

So how do you conjure the image of a debt-free life when your mountainous debt seems unclimbable?

Bankruptcy could be the answer.

Filing for bankruptcy can ultimately result in you living debt-free. It can help you get a grip on your financial situation and repair the damage that has been done by financial challenges. Life after bankruptcy might not be completely void of stress, but it’s certainly easier.

What does post-bankruptcy life really look like and is it worth pursuing?

Changes in Post-Bankruptcy Life

First, the bad news. Filing for bankruptcy is a viable solution for many, but it’s not ideal for everyone. Obviously, you’re better off being able to pay your bills every month and avoiding financial hardship completely.

This isn’t possible for everyone though.

There is a downside to bankruptcy. Filing makes it difficult to get a loan in the future, at least for some time. It also means you’ll have to reveal private financial information to the bankruptcy court and it means your finances will be somewhat out of your control.

Of course, the alternative is dealing with financial challenges for the rest of your life and invasive legal action that can be even worse than bankruptcy.

But is life after bankruptcy really all it’s cracked up to be?

Freedom in a Post-Bankruptcy Life

There’s plenty to be excited about living a post-bankruptcy life. Your credit will begin to heal after you file and though it will take some time, it’s not going to get worse as long as you carefully manage your money. Bankruptcy is an opportunity to repair damaged credit.

Bankruptcy might also make it possible to eventually own a home, for the first time or again. Deciding to file for bankruptcy has a significant impact on your ability to acquire a mortgage, but long-term, filing will likely make it easier to get a mortgage than continuing to let your unaffordable debts hang out there unpaid.

Filing for bankruptcy also protects you from any actions existing creditors might try to take against you in the future. This pertains to only the debts you have when you file, but if a debt collector comes calling years after you’d expect them to, the fact that you filed for bankruptcy gives you legal standing to tell them to leave you alone.

To learn more about the restrictions on debt collectors after bankruptcy, check out this information from the Consumer Financial Protection Bureau.

Living the Responsible Post-Bankruptcy Life

The freedom you enjoy in your post-bankruptcy life is not without obligations. Even after filing and receiving debt discharge, you still have responsibilities. For instance, if there were non-dischargeable debts, you’ll need to focus on paying those. You’ll also need to make smart decisions about credit now that you’ve seen the dark side. The good news is you’ve been given a fresh start. Not everyone has this opportunity and it’s important not to squander it.

To learn more about bankruptcy or to hear about how much better life can be after bankruptcy, contact the Law Office of Robert M. Geller at (813) 254-5696.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

5 Common Budgeting Mistakes Newlyweds Make and How to Avoid Them

Budgeting mistakes are common, especially when you’re young. Not all newlyweds are young adults, but many first-time marriages do involve...
Read More

When Should Married Couples File for Bankruptcy Together?

There's no easy answer to the question of timing when it comes to bankruptcy. In some cases, it may make...
Read More

Can Your Spouses Debt Force You Into Bankruptcy?

If you're married and your spouse has a lot of debt, you may be wondering if that debt can force...
Read More

Do You Need a Bankruptcy Attorney If You’re Divorcing with Financial Problems?

Divorce and bankruptcies are more common than many people realize. Financial problems make a stressful transition even more difficult. If...
Read More

Can You File Bankruptcy without Your Spouse?

Filing for bankruptcy is a decision that should not be taken lightly. It can affect your financial life and the...
Read More

How Seniors Can Avoid Bankruptcy

Seniors are at a high risk of bankruptcy, but there are ways to avoid it. What do you need to...
Read More

What Happens If I Own Too Many Assets to File for Chapter 7?

Does hiding assets in bankruptcy protect them from your creditors? If you own too many assets to qualify for Chapter...
Read More

How to Find the Best Lawyer for Filing for Bankruptcy after Retirement

Many retirees decide to file for bankruptcy as a way to get a fresh start. But finding the right lawyer...
Read More

Does Declaring Bankruptcy Affect My Retirement Savings?

When you're struggling with debt, the thought of bankruptcy might cross your mind. But what would that mean for your...
Read More

Is a Reverse Mortgage Right for Me?

Reverse mortgages in Florida are loans that allow homeowners 62 and older to borrow against the equity in their homes....
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions