Your Financial Future

After your Chapter 7 or Chapter 13 bankruptcy case is resolved, you can and should start to rebuild your credit. First, it’s important to know what to expect. Bankruptcy Attorney Stuart B. Handelman and his team will give you the positive support, tools and advice to come back from a bankruptcy stronger and wiser.

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Here’s What Can Occur After Your Bankruptcy Discharge:

• Unscrupulous credit card solicitors will likely flood you with offers of low-balance credit cards to help you “rebuild” your credit after bankruptcy. Choose your new secured credit accounts with care, selecting the cards with the lowest fees and rates, of course. We advise you wait a year before you even apply. There are reputable lenders who will give you a chance to re-establish credit after bankruptcy. Don’t get so eager that you ignore your better judgment. And just because you have new accounts, doesn’t mean to start using them with abandon. Use them sparingly and pay the full balance every month. In any event, if you suspect any unfair lending or credit tactics, you need to contact us and discuss the possibility of legal action.

• You WILL have a chance to get a mortgage. After bankruptcy, you won’t immediately be able to qualify for most conventional mortgages, car loans, and the like. For most people who file bankruptcy and then pay their bills on time, however, those loans will be within reach 2-3 years after discharge. It’s not immediate, but it’s also a far cry from the ten years many people have been led to expect.

• You can expect to pay a higher interest rate for your first few loans or credit accounts—those rates are dependent on your three-bureau  credit score, and those scores will be low right after bankruptcy. However, negative items on your credit—even bankruptcy--have less and less impact as they age. More recent items will carry more weight, so make sure that you keep your current accounts current.

Arrange your FREE BANKRUPTCY CONSULTATION today at one of our four convenient locations.

Without those old debts hanging over your head, you’ll have the opportunity to start to rebuild your credit. In time, if you handle those early accounts carefully, your credit can be stronger than it was before you filed and you’ll begin to see not only more credit available, but lower interest rates and more favorable terms.

Let’s Rebuild Your Financial Future Together!
Bankruptcy Attorney Stuart B. Handelman and his team want to help you make that fresh start a reality. That’s why our services don’t end with the discharge of your bankruptcy. We also can help you by offering:
• Credit report assistance & analysis
• Professional referrals—realtors, mortgage lenders.
• Action Plans for Credit Repair

You don’t have to go through this alone. Trust the experts at the Law Offices of Stuart B. Handelman to guide you through the whole process with good advice and an eye toward a better future.

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