Recovering from Bankruptcy - Memphis Bankruptcy LawyerBankruptcy can be a powerful financial tool to help you get your life back on track when you’re drowning in debt. Once you’ve taken the time to assess your situation, decided bankruptcy is right for you, and filed a chapter 7 or chapter 13 bankruptcy with an experienced bankruptcy lawyer, it’s time to turn your focus towards the future. 

Many people have questions about how bankruptcy might affect them and their future like:

Will I be able to get a new job? 
Will I be able to buy a car? 
Will I be able to buy a house? 
Will it hurt my credit? 

We’re here to support you and help you get your life back on track once bankruptcy has given you the freedom of financial independence once again. Darrell Castle clients even get access to our 7 Steps to a 720 program – an amazing program that will help you raise your credit score to a 720 in only a year. The program costs $1000, but Darrell Castle clients receive access for free!

Creditors calling and you can’t make your payments? Call an experienced Memphis bankruptcy lawyer.

We can help!

How Will Bankruptcy Affect My Life?

It’s easy to get the wrong idea about bankruptcy; there is a negative perception wrongly attached to it. However, bankruptcy is a financial tool and is typically viewed as such by employers and loan officers. There may be a waiting period between filing for bankruptcy and, for example, renting an apartment or buying a car, but you will be able to regain financial stability. 

How to Recover from Bankruptcy

Filing a chapter 7 or chapter 13 bankruptcy will affect your credit, which was probably not ideal to begin with. However, a bankruptcy record only stays on your credit report for 10 years, and your pre-bankruptcy debts will be cleared after 7 years. In the meantime, here are 3 few steps for beginning to raise your credit to an A score!

  1. Clear your credit reports of errors. Thanks to the Fair Credit Reporting Act, you have the right to dispute any errors in your credit reports. Check your credit reports from Equifax, TransUnion, and Experian to make sure they have recorded your pre-bankruptcy debts as “included in BK.” Otherwise, these debts will appear outstanding and will impact your score.
  2. Stabilize and monitor your situation. Keep your employment stable, spend intelligently, and keep an eye on your financial situation. It’s not a bad idea to try and budget your income to get a good understanding of how to balance what you’re making with what you’re spending. Use credit conservatively, but…
  3. Possibly apply for a secured credit card. Making payments regularly and on time is a large factor in establishing a great credit score, so spending moderately on a card and paying it off each month can be helpful in raising your credit score.
  4. Take our 7 Steps to a 720 Score program. Our credit program can help you raise your credit score to a 720–that’s an A rating–in just one year. Yes, that’s after filing bankruptcy! This amazing program usually costs $1000, but we offer it to our clients for free. Don’t skip this opportunity!

One of the most important parts of recovering from bankruptcy is letting go of any negative feelings you are carrying. Keep in mind what bankruptcy really is: a tool that can help you regain financial independence. Filing bankruptcy is much more common than you might think, and your focus should be getting your life back on track. An experienced Memphis bankruptcy lawyer will help you with that.

Make sure you take advantage of our program for clients that will help you raise your credit score to a 720. Having such a great credit score will help you get the credit you need for the things in life you want to accomplish. We can help you get there – even after bankruptcy! 

For even more information: get our free Life After Bankruptcy report. Call us today – we’re here to help.