After you have declared bankruptcy and your debts have been discharged, or you are paying off your debts if you filed for a Chapter 13 bankruptcy, you are likely concerned about what happens next and what you can expect in the years to come. You may be worried about what your credit rating will look like and if you will be able to get a credit card or a loan in the near future. You may also wonder about how to prevent new debt from creeping up again.
While bankruptcy provides a fresh start for many people every year in New York and around the nation, it can present some new challenges. Learning how your life may be changed after a bankruptcy is important, and at the law offices of Nathan Erlich, P.C., our team of attorneys and staff can help you protect your rights, learn strategies to rebuild your credit and feel confident about your financial future.
Contact our main office in Forest Hills, Queens, to schedule a free consultation and get the answers you need about life after bankruptcy. We serve clients in Brooklyn, Flushing and throughout the area.
Rebuilding Your Credit
One of the biggest misconceptions about filing for bankruptcy is the amount of damage that it can do to a credit report. While a Chapter 7 or Chapter 13 bankruptcy will stay on your credit report for up to 10 years, it is often not much worse than what late payments and loan defaults were already doing to your credit report in the first place.
Even with a bankruptcy on your credit report, you may still be able to obtain a credit card with a small limit or loans with higher interest rates soon after filing. By making regular payments on these lines of credit, you can begin to rebuild your credit score over time. While it will take diligence and patience to restore your credit to a high level, bankruptcy provides a fresh start where you can prove that the same mistakes will not happen again.
Contact the Law Offices of Nathan Erlich, P.C.
There are no tricks to rebuilding your credit and making better choices after filing for bankruptcy. It may take cutting back on monthly expenses in order to make payments for your house, car or other assets. It may require accurate budgeting and financial planning.
At the law offices of Nathan Erlich, P.C., we help people file for bankruptcy but we also provide resources to our clients to help them keep on the right path after declaring bankruptcy. Learn more information by contacting our firm for a free consultation. Call toll free at 877-518-7581.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.