The Bankruptcy Code was created to allow people just like those reading this blog to rid themselves of debt that they are no longer able to handle efficiently. Bankruptcy can be an effective tool for financial management. It is nothing more, and nothing less. It is not a personal failing, something which results in great shame and scorn, but rather a right that you have to alleviate debt and protect your family.
So you have made the decision to file. Now what? Will you ever get credit again? A job? Will everyone find out that you filed? These are all common questions that potential new clients ask me, so let me try and break down at least those three. Let us start with the last one first.
Does bankruptcy prevent you from getting or keeping a job?
Absolutely not. To the contrary, if you find that you are in over your head with the debt that you are in, you are much less likely to get the position you desire, if your potential employer pulls your credit. An employer would much rather hire someone who does not carry the type of debt you may be in right now. Think about it…. When one is overwhelmed with debt they are much less productive at work, than a person who is debt free. Yes, a bankruptcy is a drastic step. But it is not worse than the burden you are currently carrying.
Will I ever get credit again?
Short answer. Yes. The process of reestablishing credit after bankruptcy is one that we have helped our clients navigate for over 25 years. By starting out slowly, obtaining and faithfully paying a few small debts, and making good decisions in other areas of life, a person can obtain new credit almost immediately after being discharged in bankruptcy. Although we counsel our clients to wait, and to use future credit wisely, it certainly is available. Purchasing a car or obtaining a credit card can happen days after filing, other types of credit can be obtained thereafter.
I have decided to file, now what?
This is the easiest one to answer. Begin your new life debt free!!
Call us today at the Law Offices of Adam M. Freiman, P.C.. We are the highest rated bankruptcy law firm in Maryland. 410-486-3500 or adam@pikesvillelaw.com
