Experienced Bankruptcy Attorneys
Built on experience of providing valuable information to those seeking information about bankruptcy, the Bright Bankruptcy firm has been assisting debtors in learning about options for a long time. The attorneys who are featured and who advertise with our firm have been serving clients for decades based on the principle that each client deserves a fresh start for their own brighter future. Founded with these principles in the forefront, our firm continues this legacy through assisting debtors with information about bankruptcy that will assist them in making a wise choice of which bankruptcy attorney to hire. You will find help from caring and experienced legal professionals.
Legal Awards, Integrity, Client Service
The attorneys who advertise on our site have won and achieved prestigious designations such as those of 10.0 ratings from AVVO, Lawyers.com, Peer Rated by Martindale-Hubble, Lexis-Nexis, membership in NACBA, as well as countless excellent A+ ratings from the BBB (Better Business Bureau.) For this reason, you will soon realize that these designations came as a result of seeking constantly to provide the kind of service that makes clients feel valued. Offering compassionate and experience bankruptcy service to clients is the constant striving!
Foundation of Legal Excellence
With decades of experience serving clients, you will quickly discover that the team of attorneys who advertise on our site seek to excel in the profession of law as well as the specific practice area of bankruptcy.
Rebuilding Credit After Bankruptcy
Being in a position where one is considering bankruptcy is not nice. When a person has gotten into debt for one reason or the other, and has struggled for months or even years to pay off their debt, it can be difficult to admit that it is impossible to sort the matter by yourself, and turn to the law for protection.
The reasons why people get into so much debt are as diverse as the people themselves. Some were pushed into debt by their own financial mismanagement and imprudence, while others were only unfortunate to experience some bad situations that led to it. One of such situations is job loss, and another is accident or sickness that require a lot of payments.
The process of filing for bankruptcy can be draining for the debtor, both physically and emotionally, but it also has a terrible effect on one’s credit rating. A bankruptcy is usually kept on file and in the public domain for ten years after its conclusion. Most people will never know that people close to them had filed for bankruptcy at some point in the past, but whenever the debtor attempts to access any sort of finance or credit after the bankruptcy, it will likely be an uphill battle. This is because you will be considered to be a high risk customer.
However, that is not to say that there is no hope of recovery with regards to your credit report, In fact, if handled properly, it is possible for you to get access to a mortgage to buy a house within a period of two to three years after the conclusion of your bankruptcy.
One of the most important factors that determines what options you have and how best to proceed in your quest to revive your credit after a bankruptcy is exactly which type of bankruptcy you filed. There are a few types of bankruptcy code provided for in the bankruptcy code, but by far the most commonly file ones are those contained in Chapter 7 and Chapter 13.
In a Chapter 7 bankruptcy, you will be left with only those possessions that the court allows you to keep. That includes a specific amount of land, a number of vehicles; depending on the number of adult, licensed members of your family, and such personal possessions as clothes, pets, and some others, depending on the particular laws of your state. After the sale of your possessions that are allowed by the law, payments will be made from the proceeds in the order of precedence stipulated by the court. As a general rule, secured loans like child support and student loans will be paid before unsecured ones like credit card debts. After the conclusion of the process, the courts will give an order for all unsecured debts to be written off, although you will still be liable to make payments on the secured ones.
As opposed to Chapter 7, a bankruptcy filed under Chapter 13 will have as its purpose, a reorganization and restructuring of your debt so as to make it possible for you to make payments on them more conveniently, with a view to clearing them within a period that will not be more than five years. Basically, the court provides a forum for you and your creditors to meet and agree on new terms under which you will pay the debt. It is however essential to note that you must adhere strictly to all the terms and conditions that are in your new payment plan. If you default again, the court might withdraw its protection from you and allow your creditors to bring lawsuits against you in order to recover their money. In the worst case, the court might even make an order for the repossession of your property to be sold off to pay off the debts.
Regardless of the particular type of bankruptcy that you file, one of the things that can ensure that you get out of it up and running, with a very good chance of rebuilding your credit, is if you get in contact with, and hire a lawyer who will counsel you through the process, from start to finish, and also represent you when necessary. In choosing our local bankruptcy law firm to hire, you should consider the we have extensive knowledge of the bankruptcy laws and regulations at the state and federal level. Other features you need to put into consideration the fact that opposed to others, the attorneys who advertise with us have achieved the level of experience along the lines of having handling tens of thousands of bankruptcy cases similar to yours in most cases because they have filed tens of thousands of bankruptcies. You can be assured that you will receive attention to detail at the bankruptcy law firm and attorney advertisers who you can select on our website as is exhibited by previous clients.