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What Post-Bankruptcy Life REALLY Looks Like

Now what?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.

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$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


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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





Maps & Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater,     St. Petersburg, Tampa, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.