If you have been dodging calls from creditors or facing difficulties meeting your monthly obligations, the idea of a debt-free life might seem like a pipe dream. But do you know it’s possible? Yes, bankruptcy can help repair the damage done by the financial challenges you are facing. While bankruptcy isn’t entirely hassle-free, it’s an easier route to financial freedom.
How does my life look like after bankruptcy?
While most people are hesitant about the bankruptcy filing process, it’s one of the surest ways to give you peace and quietness after your financial challenges are gone. Although your credit score and ability to borrow loans will diminish, the peace of mind you get after bankruptcy is unrivaled. You can enjoy worry-free time with family and friends without the pressure of creditors.
How will the bankruptcy filing affect my credit scores and options moving forward?
Bankruptcy affecting your credit score isn’t something you are hearing for the first time. Filing for bankruptcy remains for 10 years on your credit report, and you may have difficulties purchasing certain types of insurance coverages and securing employment opportunities in finance.
However, this doesn’t mean you can’t access a loan at all. Paradoxically, you are a good candidate for a loan since you can’t apply for bankruptcy until after 8 years. As such, financial institutions won’t be hesitant to offer you loans of eight years or less. However, the credit facility may come at a higher interest rate due to your credit history.
Good habits to start to avoid a debt crisis
While bankruptcy gives you freedom, it doesn’t mean you are free of obligations. For instance, if you have non-dischargeable debts, you need to focus on those even after receiving debt discharge. If you secure a loan, pay it in time to start building a clean report.
How the bankruptcy attorneys can help you start over
You may have heard or seen an Ogden Utah bankruptcy attorney advertise on billboards, radio, or TV, but have you ever asked yourself what they do? Bankruptcy lawyers give legal advice pertaining to your debts. Besides, a bankruptcy attorney can help you file a bankruptcy case.
If you feel like your debts are overwhelming you, a bankruptcy attorney in Ogden, UT, can help you start on a clean slate or help restructure your debts.
Contact an Ogden bankruptcy lawyer
Contemplating about bankruptcy? Look no further than Mountain View Law Group. Our experienced legal team will walk you through the ins and outs of bankruptcy, including how to rebuild your credit after bankruptcy. Contact us at 801-393-5555 today.
Our clients rave about their experiences with Mountain View Law Group. Check out what they have to say.