In the last few weeks, we've written a few posts about what happens during the bankruptcy process and how you need to react to each step. We talked about the timeline of bankruptcy, and we also touched on the many myths that exist in relation to bankruptcy. Today, we want to talk about the not-so-little matter of life after bankruptcy. What should you do? How do you recover from this major moment in your life?
How filing for bankruptcy will affect your credit
When debt becomes smothering and overwhelming, calls from creditors haunt your dreams and you cannot see a way out of the financial situation you are in, bankruptcy can provide hope for a brighter financial future, no matter where you start.
The good and the bad of Chapter 13
As with any form of bankruptcy, Chapter 13 has numerous positive and negative aspects to it. The filer needs to qualify for Chapter 13 first, which has strict income rules, but if you do qualify for Chapter 13 and the repayment plan that it offers, it could make it much easier for you to achieve some financial balance in your life in the future.
What is the timeline for a bankruptcy filing?
People who are considering or have filed for bankruptcy will naturally have many questions about the process. How do I file? What can I expect in the weeks that follow my filing? What new responsibilities will I have in the wake of a filing? What do the different types of bankruptcy mean for me? How can I best address the issues I will face throughout the bankruptcy process?
How to best put foreclosure behind you and move forward
Closing on a home is one of the greatest moments in some people's lives. They imagine having family and friends under the roof, and bringing babies home to the home. When financial hardship results in the foreclosure of a home, it can be heartbreaking.
Don't let reality star's bankruptcy woes scare you
Some people associate a stigma with bankruptcy. Even those whose financial situations completely justify the need to file for bankruptcy can feel upset about going through the process. Why does the shame and stigma exist?
Debunking the myths of bankruptcy
Bankruptcy carries many stigmas with it. People view bankruptcy in a certain way and they have been conditioned to think of bankruptcy as the desperate last act of an irresponsible person. However, this is a myth. Many of the preconceived notions that people have about bankruptcy are actually untrue -- or aren't as severe as you may think they are.
How Chapter 13 can help you keep your car
If you are considering filing for bankruptcy, you may be dealing with enormous stress. For many people in the Alexandria, LA, area, the ability to continue working and functioning ranks among top concerns.
Why a foreclosure notice doesn't have to be the end
Bankruptcy can be incredibly helpful for those in debt. But we aren't naive -- it isn't a fun process. Going through bankruptcy can take time, while also taking an emotional toll on you. If you take the necessary steps and work hard at it, though, then you can come through the bankruptcy with an improved financial standing that allows you to start moving on with your life.
