Rebuilding Your Credit and Your Life
Many people think filing for bankruptcy is the end of their financial life — they will never be able to buy a house or get a car loan again. But in most cases the opposite is true. After bankruptcy, your credit rating immediately begins to improve, and you can begin to live your life again.
At the Bankruptcy Clinic, PC, our attorneys have helped over ten thousand people in Southern Illinois get a fresh financial start through bankruptcy. We help people reduce or eliminate debts so that they can once again move forward in life.
Call us toll free at 888-522-6578 to schedule a free consultation. A skilled attorney will answer your questions and review your debt reduction options.
Your Loan Worthiness Will Often Improve
It may seem strange, but your ability to get a loan can actually improve after you file for bankruptcy. In fact, our office will often receive client referrals from bank and loan officers. The bank is willing to extend a loan to our prospective client, but the debt loads of the prospective borrower are such that the bank cannot do it until the old debts get cleared off. By filing bankruptcy, creditors recognize you are dealing with your financial problems in a responsible manner. More importantly, they know your debt will be significantly reduced and in some cases eliminated, giving you improved cash flow.
The FHA, for example, regularly approves mortgage loan applications within two years of the final discharge of debts at the end of the bankruptcy process. In many cases, car loans can get approved immediately after the discharge. Indeed, we have received calls from car dealers asking if our bankruptcy client has received their discharge yet in their case. Nevertheless, we encourage clients to wait a year to finance a vehicle, simply because the interest rates will likely improve with time.
After bankruptcy, there are other steps you can take to make your life easier, such as obtaining a secured credit card which can help you cope with unforeseen expenses. Most of our clients receive credit card offers very soon following their discharge.
How We Can Help
The Bankruptcy Clinic, PC can review your bankruptcy options and recommend the right solution for you. These include:
- Chapter 7 bankruptcy — which can completely eliminate unsecured debts such as credit card debts, medical bills and personal loans.
- Chapter 13 bankruptcy — which can reduce some debts and eliminate others.
In both programs, once we file for bankruptcy, foreclosure, repossession and garnishment actions stop, as does creditor harassment.
Your Life Can Get Better
Your life after bankruptcy will be what you make of it. But filing for bankruptcy can give you extra cash flow and the financial breathing room you need to get a fresh start. The Bankruptcy Clinic, PC wants to help you make a better life for yourself and your family.
Free Consultation With a Lawyer
Contact us today for more information about your debt reduction options. We have offices in Carbondale, Marion and Mt. Vernon, Illinois to serve you. Evening and weekend appointments are available.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.