By: Darrell Castle
After your bankruptcy is complete, you can own anything you want, with a few exceptions.
Many people have false assumptions about bankruptcy and think it’s something that’s going to hinder them financially for a long time. That’s just not the case.
Will your credit score be good after a bankruptcy? Probably not, but it most likely wasn’t good before you filed because you were in debt and missing payments on your bills.
However, a bankruptcy will provide you a clean slate and a fresh start, giving you a great opportunity to rebuild your credit score the RIGHT WAY.
At Darrell Castle & Associates, we have a great resource to help you rebuild your credit after a bankruptcy. And, it’s free for our clients! This online course, 7 Steps to a 720, teaches you the tips and tricks the banks don’t want you to know in regards to rebuilding your credit score to an A+ rating.
Before you filed bankruptcy you were maybe on the verge of losing your house or car and you didn’t know what to do. However, by filing for Chapter 13 bankruptcy, you can lump your debt into an affordable longer-term repayment plan that will allow you to pay a portion of that debt and KEEP your property.
Both Chapter 13 and Chapter 7 bankruptcy possess their own unique qualifications and benefits. Which one is best for you depends on your situation – what bills you are behind on and how much income you’re bringing in.
However, no matter which chapter you file, you can buy and own anything you want once it’s completed, (again) with a few exceptions.
Any inheritance, property settlement or life insurance benefits you receive within 180 days of filing for bankruptcy might have to be paid to your creditors.
If any of this is confusing, that’s okay – bankruptcy attorneys are here to help you!
If you’re struggling financially and want to sit down and talk to someone experienced about your options, then our FREE one-hour or so consultation is perfect for you! You can schedule your appointment by calling (901) 327-2100 or by filling out one of the contact forms on this page.
Our firm has received multiple Client Distinction Awards from Martindale-Hubbel for client satisfaction, so I promise you’re in good hands here.