The process of bankruptcy, even a ‘simple’ liquidation bankruptcy – also called a chapter 7 bankruptcy – is a complicated legal process. Nobody gets there without a lot of lost sleep and worry. Among the biggest questions is how to prepare for bankruptcy, and how to recover once the bankruptcy is finished. These worries are well-founded, as exiting bankruptcy successfully takes a toll on your credit, and impacts your ability to rent a place to live, obtain a car, and rebuild your credit. Here are some tips that will help you before, during, and after your chapter 7 bankruptcy.
There are some things you should absolutely never do prior to filing for bankruptcy in any form. To put it mildly, federal judges and US trustee take a very dim view of shenanigans, whether they are intentional or not. Doing any of these is a virtual guarantee that your filing will be dismissed.
This kind of bankruptcy will stay on your credit report for 10 years, but it will carry less weight as time goes on. Yes, it will cause some pain, but not as much pain as cascading late payments, collections, and evictions or foreclosures. Here are some tips on how to get your life back on track.
If you have any further questions or concerns about filing for Chapter 7 bankruptcy, we can better address your individual situation with a free initial consultation at our Fort Lauderdale or West Palm Beach offices. We are now open seven days a week so call us now, and let’s get started on the rest of your life.
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