Monthly Archives - December 2012

The Significant Benefits of Bankruptcy

You may have finally decided it is time to dig yourself out from an overwhelming pile of debt and start over. You realize bankruptcy is the best option for you to accomplish this, but for years may have heard that bankruptcy can leave a permanent negative mark on your life and wonder if it is more trouble than it is worth. But, bankruptcy is designed to give people a fresh financial start in life, not ruin their lives. After bankruptcy has been declared, there is much about your life that may change—for the better.

The first thing you will notice is that the phone calls will stop. Creditors are quick to jump on your via telephone, snail mail and email the second you have missed a payment. No matter what you to say to them, they will not stop. But, a bankruptcy declaration done with the help of an experienced Los Angeles bankruptcy attorney will force them to stop. You can start breathing easier when the phone rings and when you go to the mailbox.

However, you still have work to do. The harassment might stop and you won’t need to worry about how to pay your bills anymore, but now you are left with the task of rebuilding your credit. It may seem like a daunting task, but it can be done and is not as hard as you might think. Your Los Angeles bankruptcy lawyer may even offer you advice on establishing credit again when he guides you through the bankruptcy process.  The easiest way to do this is to accept a credit card offer, even if it is subpar. Make one small purchase on this card a month and make sure to pay your bill in full and you will see your credit begin to slowly rise. The better your credit score, the less chance future creditors like a mortgage lender will allow a bankruptcy on your record to affect your chances of getting a home loan.

And remember, you have been given a fresh start with the help of a bankruptcy attorney in Los Angeles, so change your habits with this new start. If your life was in financial chaos before, organize things. Set up a budget for yourself and stick to it. Pay all bills on time and do not let them pile up as you had in the past. Bankruptcy is meant to be a positive experience in the long run, so if you are overwhelmed with mounting bills, call a bankruptcy lawyer in Los Angeles today to change your financial life.