Helping You Get On With Your Life After Bankruptcy

You are not alone when facing overwhelming debt. Many decent and hardworking individuals experience financial hardship. It is important to remember that there is such a thing as life after bankruptcy. For many individuals, bankruptcy provides substantial debt relief and allows for you a fresh start.

The lawyers at Purrazzella & Purrazzella, P.A., in Toms River, have more than 30 years of experience helping individuals just like you locate financial relief. We pay attention to your concerns and locate the right debt relief solution for you. We are committed to resolving your challenging financial issues while helping you and your family focus on living a normal life.

Considerations Following The Bankruptcy Filing

While many myths persist concerning what life after bankruptcy will be like, most individuals who file bankruptcy experience a great sense of relief. Bankruptcy can bring an end to creditor harassment and obligations to pay a large number of overdue bills. In fact, many individuals who file bankruptcy actually see an increase in their credit scores.

However, it is also a good time to take a look at your circumstances and learn about what future actions you should take. This includes taking a variety of steps to repair your credit. The steps you take following bankruptcy may differ depending on whether you file Chapter 7 bankruptcy or file Chapter 13 bankruptcy.

What Happens After You File A Chapter 7 Bankruptcy

While a Chapter 7 filing allows for you to eradicate unsecured debt, there may be concerns that there will be limitations to the credit for which you are eligible. While it is true that a Chapter 7 filing will remain upon your credit report for 10 years, the filing still may not greatly impact your ability to receive credit. But though creditors may be willing to provide you a loan following a bankruptcy filing, it is important to keep current on your payments. Please use credit cards wisely when attempting to restore your credit. Keep very close check on credit card balances and never let those balances exceed your means.

While Chapter 7 allows for you to get out from under unsecured debt, remember that you will still need to make any outstanding payments on your home or vehicle. Do take care to have money set aside to make such payments.

What Happens After You File Chapter 13 Chapter Bankruptcy

A Chapter 13 filing will remain upon your credit report for seven years. After filing a Chapter 13 bankruptcy, you will want to make certain to abide by the arrangement you made with the bankruptcy courts. This means making certain to allocate a certain amount of your income towards your Chapter 13 payment plan.

Attorneys Making Themselves Available To You

Purrazzella & Purrazzella, P.A., will provide you guidance regarding your options following a bankruptcy filing. We will provide you a realistic picture of what life after bankruptcy can mean to you while closely examining your individual circumstances. If you have a question about bankruptcy or debt relief, please contact our Toms River, New Jersey, office by calling 732-691-4589.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.