Bankruptcy is a legal process whereby an individual or business attempts to either eliminate debt or reorganize their debt so they may move forward with a "fresh start."
A common misconception is that the new bankruptcy laws passed in 2005 eliminated Chapter 7 bankruptcy as a choice. This is not true. The new laws simply just implemented more guidelines. A complete debt discharge remains an option and has been a reality for thousands of people since the laws changed. You can get a fresh start and stop creditor harassment.
Life after Bankruptcy
Filing bankruptcy will not permanently damage your credit rating. The bankruptcy will appear on your credit report for 10 years. Most other credit information can also be included in a consumer credit report for 7 years. Bankruptcy candidates' credit scores are often already damaged. Chapter 7 Bankruptcy allows for a clean slate and an opportunity to prove your creditworthiness. Usually the cost of obtaining credit with less than a squeaky clean credit profile results in the payment of higher interest rates on your borrowing. But you must ask yourself- what is the cost of not declaring bankruptcy, both economically and emotionally?
There are steps that you can take after filing a bankruptcy that will make it possible to re-establish good credit. These steps can be discussed at the initial consultation. It is possible to get credit cards and buy a house or car after filing bankruptcy. Simply put, bankruptcy is not the end of the world. It represents a new beginning and it leads to a fresh start. You can wipe the slate clean and emerge from a debt discharge or payment plan with hope for a brighter financial future.
*** For Orange County Foreclosure & Orlando Middle District of Florida Bankruptcy Creditors Meeting, Confirmation Hearings, and related Representation for Debtors and Creditors, Contact Our Office at 407-556-7589 ***
If you require professional legal services regarding Chapter 7 Bankruptcy and Chapter 13 Bankruptcy, be proactive in protecting your legal rights by seeking the legal advice of an experienced bankruptcy attorney (lawyer) who proudly serves the Orlando, Orange County and Central Florida area. Contact the Law Offices of Camille Sebreth PLLC today at 407-556-7589.
Law Offices of
Camille Sebreth, PLLC
4604 Andrus Avenue,
Orlando, FL 32804