If you live in the Chicago area, and you feel overwhelmed with credit problems, don’t wait until they are so bad to consult a Chicago Bankruptcy Lawyer
Some people have a few of the whole process when actually if they use the services of a competent Chicago Bankruptcy Lawyer their fears would be alleviated.
It comes as a surprise to most people that their credit score actually improves after bankruptcy. In fact, once the credit obligations have been removed by bankruptcy a person is a better risk because of two reasons (1) they cannot file bankruptcy again without waiting for many years and there is some reasonable chance that they can move ahead, pick up the pieces of their life, and start over. Be cautioned though about running out to find new credit after a bankruptcy. If the problems that lead to your bankruptcy were not sudden disruptive events, such as major health problems, divorce, loss of jobs, death of a family member and so forth which are not likely to occur again or if any of those are the problems that will continue to exist, then any credit will be used up in trying to deal with them and you will find yourself in the same mess again. It used to be that a bankruptcy would prevent you from ever getting any credit, but there are predatory lenders who offer small amounts of credit to recently bankrupt individuals for very high annual fees sometimes the fees are higher than the credit limits so you really get no credit at all and the interest rates are exorbitant. Just remember you will have an incredible feeling of relief when all the creditors are finally off your back if you file Chapter 7 and enjoy being debt free and then can go on an all-cash basis from then on.
That being said, if you use a competent Chicago Bankruptcy Lawyer will give a better result later. It is true that it is easier to recover from bankruptcy now than it was in the past and there is certainly not the stigma that was attached to a bankruptcy before. Also, you can improve your credit score and get things that are discharged to be reflected as such so that improves your credit score at little. If you don’t have a current credit report on yourself you should try to get one and look for errors and inaccuracies in the reporting. You have a right to request removal of any information that is not true. If you work to clean up your credit reports after bankruptcy you can see your credit improve within the first six months.
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