Fears about filing Bankruptcy
I understand that no one wants to file a bankruptcy, They think if I do everyone will know about it, I will never buy a house or car, can lose my job, never have a credit card, and general have bad credit for the rest of my life.
First off you would not be filing the bankruptcy if nothing was wrong and you were paying all your bills. With the bad credit it’s very hard to buy a house or receive a good interest rate on a car.
After filing at least in most areas the bankruptcy filing is not list in the newspapers. Your job is not notice of the filing unless in a chapter 13 the payroll department is about the trustee payment. IT is federal law your company can not terminate you for the bankruptcy filing.
With the process of buying a house or car it is usually an easy process as long you have been on your job for a year or more.
Credit cards will come after less than a year yes they will be low limit and hight interest, but use and pay the next offers will be better.
Your credit after filing all depends on money and being able to pay bills on time again like you did before something change and your credit when under the 500’s. Having a 700 credit score two years after filing is not imposable.
Please fill out our free evaluation form to determine if bankruptcy is right for you.
