Filing for either Chapter 7 or Chapter 13 bankruptcy does not mean that your credit is ruined forever. In fact, re-establishing your credit may be easier if you file bankruptcy than if you do nothing. There is life after bankruptcy.
At the Tampa, Florida, law firm, the Law Offices of Robert M. Geller, P.A., we believe that clients deserve to learn all they can about Chapter 7 or Chapter 13 bankruptcy and what life will be like when the process is complete. We spend the time needed to provide clients with answers to their concerns about the future.
Common Questions About Credit After Bankruptcy
- Will I ever be able to purchase a house? If you have worked to rebuild your credit, you may actually be a better risk than someone who did not file bankruptcy but had overwhelming debt. Our bankruptcy lawyers can give you information about your options.
- Will I ever be able to get a credit card? Here’s why there are many companies willing to give you a credit card after bankruptcy: you will have less debt than many credit card holders — you have either discharged it or reorganized it. This is an indication that you will be able to make your payments. We have seen many clients rebuild their credit after bankruptcy and get credit and credit cards.
- What is to prevent me from getting into financial trouble again? Credit counseling and a financial management class are mandatory under both Chapter 7 and Chapter 13 bankruptcy. Many people find that going through the bankruptcy process leaves them more capable of managing their financial lives.
- Can I file bankruptcy again? One of the reasons it is surprisingly easy to get credit after bankruptcy is that lenders know that you will need to wait either four or eight years to file again, depending on whether you filed Chapter 7 or Chapter 13 bankruptcy.
If you already have bad credit, filing bankruptcy is a positive step. The process teaches you how to re-establish credit more quickly after bankruptcy than if you did nothing and continued to build up debt.
Contact a Bankruptcy Attorney
To learn more about life after bankruptcy, contact our Tampa, Florida, law firm. Call us at 813-254-5696 to schedule a free initial consultation. Attorney Robert M. Geller is a certified specialist in Consumer Bankruptcy Law by the American Board of Certification *.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
* Accredited by The Florida Bar to certify lawyers in the specialty area(s) of consumer bankruptcy law.