Recovery after Bankruptcy is Possible and Practical
Creditors, collectors and "debt consolidation" services often perpetuate the misconception that bankruptcy will destroy your life on all fronts. As part of their scare tactic or marketing pitch, they may tell you that you will never get credit again, that you will lose your job if your employer finds out, and other things that have no basis in fact.
If you are in need of debt relief in the Phoenix, Arizona, region, we encourage you to contact us and talk about your concerns. Attorney Gukeisen Law Group, P.C., who has been practicing for more than 25 years, offers straight answers and real solutions and he will be glad to talk to you about life after bankruptcy.
Credit Can Be Rebuilt and You Can Continue Earning a Living
In reality, if you are considering personal bankruptcy, your credit may already be in pretty rough shape and, with time, clearing your debts and maintaining financial discipline in the future may even enable you to achieve a better credit rating than you have today.
It is true that a bankruptcy will stay on your credit reports for ten years. In most cases, however, you can begin rebuilding your credit almost immediately after filing bankruptcy, by putting a deposit down and getting a "secured" credit card. A few years after discharge of your bankruptcy, getting a mortgage at a reasonable rate is also very possible. Having filed bankruptcy will be just one factor in a lender's decision typically less important than your income and stability when you apply.
As for employment, it is illegal for an employer to discriminate against you because of a bankruptcy filing. Although your bankruptcy is part of the public record, available to those who want to know, its impact on your employment prospects is usually minimal or non-existent.
A Fresh Start Means You Can Re-Examine Your Needs and Goals
Taking a broader perspective, bankruptcy prompts many people to pare back their expenditures and lifestyles, refocusing on joys and values that transcend money. If you are capable of finding a "silver lining" and taking the action necessary to overcome adversity, it could be a life-changing fresh start for you.
We are a people-focused, problem-solving law firm proud to help people and businesses across Arizona. To meet with a lawyer who can help put bankruptcy and other legal options in perspective for you, simply contact us today.
