Stop Bad Credit

HOW BANKRUPTCY STOPS BAD CREDIT: THE REAL STORY!
Most viewers of this page will not have the best credit, if they have any credit at all! That’s why you’re here and we have some great news for you.

You might be thinking that you don’t need credit. Have you every called the phone company to order service? Every wonder what they are doing when they take your order and then put you on hold? You would be surprised!

One of the largest credit reporting companies in the USA sold all of it’s credit history on most people to utility companies.

Now! Haven’t you ever wonder why the utility company wants to know your Mothers maiden name? Are you thinking that they are just real friendly?

They are verifying that you are who you say you are, and they are making sure that you have paid all of your past utility bills with all similar companies.

Is that important information? No! Not really! It is meant to inform you that your credit history will be with you forever, even if you don’t have a credit card. It’s important to know how people are using this information, as this information can effect your life in many ways.

When you file Bankruptcy using Federal Laws, does that hurt your credit?

Well! Chances are your credit is hurt pretty bad to begin with. And, if you do nothing, your credit history will continue to get worse, not better. When you use Federal Laws, it stops the aging process. By that we mean that those bills that are 5 months old, or 3 months old, or more, will never age after the paperwork has been filed with the courts. How does this affect you? Stopping the aging process means that your credit report will not show a longer and longer history of delinquency. So! In that sense, you can put a stop to the aging of bills. That’s good!

Of course! It’s better to repay everyone as originally agreed, but not everyone can do that and we are here to help those that just can’t!

Let’s say that you are thinking about getting rid of all your bills using Bankruptcy. Does that mean that you will never have credit again? No! Not at all! Once we have filed your paperwork…using Chapter 7 Bankruptcy as an example…and have completed the process, which is approx. 90 days, you can get new credit quickly, if you want it.

Just keep in mind one important thing: The first step in rebuilding credit is to get rid of some debt. Getting rid of debt tells a creditor the obvious. With less debt on you, your income is more freed up and that means you can afford more new credit. The creditors all know this and that’s why, after a bankruptcy, more and more creditors want your business.

Let’s say that you need a car for getting back and forth to work. Your newspaper is full of car dealers who want your business. Why…you might ask…would a car dealer want your business after you file a Bankruptcy that gets rid of your bills and financial obligations? First! The car dealer knows that you now, have NO Bills, except living expenses! You’re out of debt…at least with respect to all those credit cards, personal loans and medical bills…and you most likely will not be in this situation again for some time. Second! He’s in business to make money, as we all know. Sure! He’s going to charge you a little extra to get you financing and a little more on your down payment…wouldn’t you…if you were him. It’s a small price to pay to get what you want….. and to start establishing new credit immediately. Third! If you don’t pay him, he knows he can just repo the car and sell it again…. and make even more money.

Why wouldn’t this guy be anxious to put you right into a nice car? Just open your newspaper and look at the car dealer ads. What you will see is ads that say things like: “Bankruptcy – No Problem”. When you use Federal Laws to consolidate your bills under Chapter 13, it’s a different story. The car dealer knows that until your Chapter 13 case is complete, you are on a budget and that most of your spare money is going to repay at least some small part of your old bills. He also knows that if you do not make your monthly Chapter 13 payment, your case will get dismissed, and then every bill collector that you owe money to can jump on you all over again….. and that makes you a real risk in his book. Still…there are car dealers here and there that will sell you a car…even in Chapter 13….but sometimes…..you may need a co-signer.

People in Chapter 13 bankruptcy cases can start credit again too…but in most cases…they must wait until they complete their Chapter 13 cases….the time when…as with Chapter 7…all their remaining unsecured debts will be discharged.

But even Chapter 13 can help you rebuild your credit, because the first step in rebuilding credit is to get rid of some debt, especially debt you simply cannot pay. And these days…under the new “improved” bankruptcy law…Chapter 13 can work as well as Chapter 7. It just takes a little longer.

We discuss all of this…and more… with you when you come in for your first FREE Confidential visit.

You can go a long way toward protecting your family, your job, your reputation, and your future credit….but only if you get good, sound legal advice….before things gets worse.

There are numerous ways to deal with debts and we can’t go over the various options here, but rest assured that answers to your debt questions are only a FREE Debt Consultation away.

And remember this….The first step in re-building your credit is to get rid of some debt. Whether it’s Chapter 7 or a Chapter 13, there’s help to get you out of debt, rebuild credit and get back on your feet. But, the first step is yours. You have to want the help.

The second step is the call. Are you ready to at least find out about the help that only bankruptcy can provide.

Call today to set up your totally FREE Debt Consultation!
We can help! Call toll free 1-800-LAWYERS.

Some call it “Filing for Bankruptcy”.

We like to think of it as “Filing for Liberty”, the liberty you need to get your life back.