Of all that bankruptcy can offer, perhaps the most important is the freedom to create any financial future you want. While many of our clients are apprehensive about what life will look after they file, the fact remains that bankruptcy is a new beginning.
Rebuilding doesn’t happen overnight, but with determination, you can focus your finances and live the future you’ve dreamt of, restoring your credit rating and buying a home or car. Here are some successful strategies we’ve used with past clients to help them get there.
Restoring Your Credit Rating
Many people worry that bankruptcy will destroy their credit. On the contrary, it is a great opportunity to clean your financial slate from debt and rebuild your credit. However, it is important to resist offers for high-interest credit cards, which many of our clients are inundated with, particularly after a Chapter 7 bankruptcy is complete.
Our firm offers a great credit restoration program called 7 Steps to a 720, which we provide for clients at no cost. The program teaches you how to rebuild your credit score to an A rating within a year.
Buying a Car
Buying a car after a bankruptcy is relatively simple if you have a job and are able to make the payments. There are many resources that can help you get a car at an affordable price; for example, we have connected past clients to automobile companies that sell late-model low-mileage cars. Everyone’s situation is different, but we can make recommendations for your specific needs. The important thing to remember is that, no matter your circumstances, there are options for getting a car that works for you.
Owning a Home
Folks who are interested in buying a house after a bankruptcy may have to do a little more legwork, but it can certainly be done. As with purchasing a car, there are different options for finding the right situation, and individual needs vary. Non-qualifying assumable loans have proven successful for many of our clients. In these instances, the seller already has a loan and you take it without having to qualify or meet any credit requirements. If you already own a home, we will work with you to help you live free again and keep your property.
If you’d like to learn more about filing for and rebuilding after bankruptcy, I’m happy to discuss your options and answer your questions. Contact me today to discuss your situation for free. We also offer a free report on life after bankruptcy to help you start off your new life strong.