Looking Forward to a Debt-Free Life After Bankruptcy
Trying to manage overwhelming debt can be exhausting and impact every aspect of your life. For many, fears about possibly losing assets in bankruptcy or facing a future without credit stand in the way of calling a debt relief and bankruptcy lawyer.
The truth of the matter is, most people not only feel a tremendous amount of relief after completing the bankruptcy process, but also learn that life after bankruptcy is far brighter than they envisioned. It is possible to rebuild credit after bankruptcy. In fact, it is often easier to restore your credit after obtaining a fresh start.
Attorneys Helping Clients Visualize and Attain a Fresh Life After Bankruptcy
Often our prospective clients’ concerns regarding bankruptcy revolve less around financial issues and more about issues relating to who will find out about their bankruptcy, and what they will think.
This is understandable. Shame about excessive debt is almost universal, and almost everyone has experienced it. The truth is, though, that few people learn about others’ bankruptcies, and more and more people understand that bankruptcy is a valid, effective and commonly used solution to debt.
In addition, bankruptcy laws protect parties from taking adverse action against a person because he or she filed bankruptcy. For instance, bankruptcy laws include a specific provision prohibiting employers from discriminating against employees because they have filed for bankruptcy. And while bankruptcy actions are reported to credit agencies, they are not reported to local newspapers or otherwise generally broadcast.
What Are Some of the Effects of Bankruptcy?
Positive effects of bankruptcy are numerous. Under Chapter 7 bankruptcy, debt is quickly reduced or eliminated through discharge. Under Chapter 13 bankruptcy, monthly payments are reduced and early pay-off dates are arranged under court-approved payment plans.
Credit is also often available to debtors soon after bankruptcy proceedings are completed. The credit terms may be less favorable, but lower debt-to-income ratios result from bankruptcy, and calls, letters and threats from creditors cease.
Businesses often find they are more competitive following bankruptcy as overhead costs are lower, allowing for increased profits. For more information about our firm and life after bankruptcy, contact our offices.
Turn to Experienced Lawyers Who Care About Your Financial Future
For effective bankruptcy legal help and considerate, responsive client services, contact the Cincinnati, Ohio, law firm of Minnillo & Jenkins CO. LPA. We provide free initial consultations and charge affordable, competitive rates. To schedule a free initial consultation with a bankruptcy lawyer, call +1-513-723-1600 or contact us online.
We have four convenient offices to serve you with locations in Cincinnati, Eastgate, Fairfield and Covington. Evening and weekend appointments are available.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.