If you tend to be a “glass half empty” kind of person, bankruptcy may be especially challenging. It’s understandable to feel discouraged when you think about the negative aspects of bankruptcy: damaged credit score, inability to use credit for a period of time, and even loss of property. But really, focusing on these things does you no good, since they are out of your control. I want to encourage you to look at the positive aspects of bankruptcy and the freedom you’ll gain by filing and putting your debt behind you.
Juggling bills, cutting costs, and negotiating with creditors can be exhausting, especially when you simply don’t have the money to take care of all your responsibilities. One of the immediate benefits of filing bankruptcy is that the Automatic Stay goes into effect. This means you may stop making payments on certain types of debt while your case is being settled. This also stops creditors from contacting you to collect the debt, so you won’t need to deal with phone calls and reminders of your debt. When your creditors call, all you’ll need to do is give them your case number and my contact information and I’ll take things from there.
While your credit score will go down temporarily after a bankruptcy, it doesn’t need to stay damaged for long. Once your debt is discharged and you have a clean slate, you can start with a new, small credit card. If you make small purchases and pay them off completely, on time, each month, your credit score will begin to improve. By making these payments and all your bills on time, your bankruptcy will soon be eclipsed by a better payment history. Who would have thought that filing bankruptcy would actually make your credit better in the long run?!
A New Budget
Bankruptcy is a new start in life, and this should be reflected by your budget. When you complete your online credit counseling, you’ll be taking a close look at your budget and all your expenses. This is an opportunity to re-evaluate your needs and wants and to search for ways to decrease your expenditures. With your new budget, you can change your relationship with money by always living within your means, saving for purchases, and decreasing your overall stress by not carrying a debt balance. While it may not be fun to live on a tight budget, the rewards are priceless.
A Brighter Future
Going through a bankruptcy can be humbling and nerve-racking, but you need not waste the experience. You can share the lessons you’ve learned with others and feel empathy for them when they go through difficult times. I also understand how stressful financial troubles can be, so I’m here to help you get your bankruptcy taken care of and point you in the right direction for a healthier financial future. If you’re considering bankruptcy, don’t put off taking action. Instead, give me a call so you can take advantage of the benefits that are available to you.