Life after Bankruptcy in Nashville

Where do I go from here?

Life after bankruptcy includes many wonderful opportunities while also requiring you to follow certain steps and maintain certain activities. You will be able to wake up each day without the looming stress hanging over your head of having to pay your bills and make ends meet. No longer will creditors be harassing you for payments, threatening you with repossession, lawsuits or similar consequences. You will finally be able to save money, plan and act toward financial goals, and look after yourself with the care you deserve but were not previously able to afford.

In order to maintain this invaluable position, it is vital you follow certain financial guidelines and take precautionary and preemptive measures to ensure your stability. Take this time to heal and build up your credit score, your savings account and your emotional wellbeing, one day at a time. After bankruptcy you shouldn’t expect a life of being a financial outcast or exile yourself from the rest of the world. You may lead a highly rewarding and valuable life if you use your second chance wisely. Spending and purchasing should never be a spontaneous act, it should be according to a set budget and all bills should be paid in a timely manner. This is especially important when it comes to auto loans and home loans. Certain financial institutions specialize in providing credit to people who have undergone bankruptcy but their offers should be reviewed closely. Administrative charges such as activation fees and membership fees should be avoided and your card should always be paid on time. You can also work to rebuild your credit by obtaining a secured credit card and paying your monthly statements on time. This will safeguard against credit card debt and keep the collectors away so you can have a higher enjoyment out of life.

It is crucial let you let go of any past guilt or shame and wipe the slate clean so it truly is a fresh start. Don’t make the mistake of believing you are the only one in this position. In 2010 alone, 1.53 million bankruptcies were filed and Americans across the board are feeling the effects of the economic downturn in one way, shape or form. Try and make peace with the past and look at it as an important life lesson and now you are better educated to not make the same mistakes. Once the dust has settled, create a savings plan and carefully manage incoming and outgoing expenses. Always make sure that you are not living above your means, that way you can set aside money for savings in case you were to ever hit a rough patch in the future. Food, housing and utilities are the primary expenses that should be top priority on your list

Experienced Defense You can Count on

Don’t feed in to the fictional assumptions regarding life after bankruptcy. Many people believe that with a bankruptcy on their credit report, they won’t be able to qualify for house mortgage or a car loan, this is simply not true. You may still qualify for an FHA loan even if you are in the middle of filing a chapter 13 bankruptcy, and there are several auto lenders that are willing to give you a reasonable rate on a vehicle loan. Even just six months after your bankruptcy goes through, you may see your credit score begin to move up the scale. Our firm is here to remind you not to give up hope, with the right legal representation your bankruptcy could turn into a success. Speak with Attorney Cain who can provide further advice on managing your finances following bankruptcy.

A debt-free life is an experience that may seem worlds apart from your current situation. The emotional and mental drain lifts off, allowing you to concentrate on your life and future, rather than constantly worrying about money. For help pursuing this, consult with Cain & Associates, PLLC. We are passionate about helping struggling individuals gain a fresh start. As a mid-sized boutique law firm, we offer the resources and personalized attention necessary to make the process as comfortable and effective as possible. Contact our Nashville office for help pursuing a new life post-bankruptcy.

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.
Cain & Associates, PLLC - Nashville Bankruptcy Lawyer
Located at 2874 Elm Hill Pike Nashville, TN 37214. View Map
Phone: (615) 649-5485