In our previous installment on life after bankruptcy we discussed the curveball filing for bankruptcy can throw at you. In this installment we will continue to review ways in which you can rebuild your financial life after filing for chapter 7 bankruptcy or chapter 13 bankruptcy. Bankruptcy attorneys recommend that individuals who have filed for bankruptcy begin to re-establish their credit as soon as they possibly can.
If you are considering personal bankruptcy it is important to understand the laws and how they affect your situation. New bankruptcy laws have been put into place to help individuals get out of their current situation before they have to resort to filing for bankruptcy. New bankruptcy laws make credit counseling mandatory within one hundred and eighty days of an individual filing for bankruptcy. Individuals must relay all pay stubs that are received within the sixty days prior to bankruptcy be filed with the court.
The task of rebuilding your life after you have filed for bankruptcy can seem quite overwhelming. It is important to recognize that your life is in the midst of a transformation. Bankruptcy allows individuals to start over; it provides a clean slate where you are in control of your life unlike your previous life which was being ruled by your debt.
Expert Author: Harvard McIntosh b
Chapter 12 Bankruptcy has been specifically designed for the small farm owners, whose majority of the family income comes from agricultural produce. You can consult a reputed attorney to discuss your bankruptcy.
Expert Author: Jennifer Quilter
After bankruptcy everything is hard. Being emotionally motivated to do anything with your finances, getting credit cards, talking about your situation with people, getting insurance, getting a job, and getting loans are all among the long list of areas where things have changed for you. Doing these things is important though because if you just hide away your life will never really move forward.
Expert Author: Jennifer Quilter
The truth is that once the last of the paperwork has been filed most people are just sick and tired of talking about their finances. It's understandable that now you want to be done and stop thinking about all of this, but there will come a time when you'll be wanting a car, to rent a new apartment, or to buy a house and you'll be needing to have a decent credit score. Yes, in seven years this will all age off, but seven years is a long time - and if you haven't done anything in those seven years it's not as though you'll have a good score then, either.
Expert Author: David Reinholtz
In this current economic situation, people are desperate to save their homes, and will listen to just about any suggestion, or infomercial, that comes their way. There are a number of businesses out there that are aiming to take advantage of the current downturn and to take advantage of people's desperation, and some of these opportunities are legitimate while others are downright fraudulent.
Expert Author: Bg Johnson
If you are engulfed with monetary problems that are difficult to shake off then filing bankruptcy can be a great option for you. Personal bankruptcy filing hampers your credit report for the upcoming 10 years. But it is the best relief option to bank upon when every other option fails.
Expert Author: Alex Shown
Bankruptcy is one glaring outcome of global recession and a condition that has affected millions around the world. Filing for bankruptcy may seem the easy way out of many debt-ridden situations. But, not to known to many, this is definitely not the best solution. Declaring yourself bankrupt will affect your credit scores adversely and in some cases, your property may also be confiscated. What is more, you cannot be sure that all your debts will be waived. So consider alternative options; ones that will thwart bankruptcy.
Expert Author: Campbell Grenier
According to a 2008 survey by the American Payroll Association, 71 percent of American workers are living paycheck to paycheck. If you are one of the many who live paycheck to paycheck, or if you have fallen behind, here are some tips that can help you get back on track...