What Does Life Look Like After Bankruptcy?
What You Can Expect After Your Debt Is Discharged
If you are ready for a financial clean slate, bankruptcy could be a way to obtain it. Once you have filed for bankruptcy, however, you may wonder what your next course of action should be. At Kostopoulos Bankruptcy Law, we have helped thousands of clients throughout California’s Bay Area achieve financial freedom and stability after filing for bankruptcy. We are prepared to do the same for you. Bankruptcy doesn’t have to be the end — in fact, it can be a whole new beginning.
In today’s difficult economy, it is no wonder that the stigma that once surrounded bankruptcy has long since disappeared. Today, more than 1 million Americans file for bankruptcy every year. This federal form of debt relief can provide the fresh start and financial reorganization that you need. Why hesitate? You don’t have to be the victim of harassing creditor calls, foreclosure notices, and constant stress and anxiety — you have options!
Consult an Oakland bankruptcy attorney from Kostopoulos Bankruptcy Law today.
What Will Happen to My Credit After Bankruptcy?
The idea that people who have filed for bankruptcy are doomed to suffer from bad credit for years is simply false. A bankruptcy can stay on your credit report for up to 10 years from the date that you file, but if you take the right steps to rebuild credit, you can see your score start to go up gradually much sooner than that.
We can show you how to achieve excellent credit after bankruptcy relatively quickly! At our Bay Area law firm, our goal is to help our clients not only achieve debt relief but also find renewed financial health after their bankruptcies. By following the advice of our experienced bankruptcy attorney in Oakland , you can begin rebuilding your credit within just months of filing.
Do I Qualify for Credit Cards?
Immediately after filing for bankruptcy, you may qualify for a secured credit card that requires a refundable deposit as a part of your credit line. Start with a modest credit limit. This can be a great first step to rebuilding your credit score. As time goes by, you may start receiving offers for traditional credit cards that you can utilize to help expanding your credit.
Can I Get a Mortgage After a Bankruptcy?
It is possible to get a mortgage after a bankruptcy, and the odds improve if you wait a few years after your bankruptcy is done. However, those with a bankruptcy on their credit report may encounter loans with higher interest rates or require a larger down payment to reduce the risk to lenders. As long as you are able to manage your monthly mortgage payments and practice healthy financial habits, you should have no issue securing a mortgage.
Will I Be Able to Rent an Apartment?
In some cases, renting an apartment can be difficult especially if you are applying for professionally-managed apartment complexes rather than individual landlords. Large complexes run by big management companies may require extra security deposit fees or several months of upfront rent. If you are having difficulty finding an apartment to rent, it may be easier to look for individual owners or smaller apartment complexes where they can be more flexible to your situation.
Contact the Top Bankruptcy Lawyer in Oakland
Don’t let your debt collectors have the last word. You may be able to put a stop to all the frustration and achieve full economic independence again. Call Kostopoulos Bankruptcy Law today to learn more about bankruptcy. What do you have to lose? We offer free case evaluations so there’s nothing to be concerned about. Unlike at other firms, you won’t be forced to meet with an inexperienced legal assistant — you will have the chance to speak directly to an experienced and knowledgeable Oakland bankruptcy attorney about your situation and the options available to you before committing to any financial obligation.