Life After Bankruptcy

Most people do not know much about bankruptcy. And many are hesitant to consider it because they worry there will be adverse consequences after a bankruptcy, or even have misconceptions about the effects. Some people believe they will "never get credit again." But this is a misconception. 

Bankruptcy exists to help people. Once your bankruptcy is complete, you will by definition have fewer debts. You will indeed soon get offers of credit, although the interest rate will be higher and you may have a lower credit limit.

Your Credit Rating

Since you won't have the debt you now have, your credit rating should ultimately improve. And since the law prohibits you from filing again for eight years, creditors know that even unsecured debt cannot be discharged in that time. They may be quite willing to do business with you after a bankruptcy.

If you are careful with credit cards and other credit, and make payments on time, slowly your credit rating will improve and you can re-establish credit. Your bankruptcy filing will remain on your credit report for seven years, if you filed under Chapter 13, and 10 years if you filed under Chapter 7.

South Florida Attorney — Recover From Bankruptcy

The Law Offices of Patrick L. Cordero, PA is centrally located in Miami and is recognized as one of the top bankruptcy filing firms in the United States Bankruptcy Court Southern District of Florida. Over the years, the office has expanded to one of the largest law firms in South Florida, with a staff of over 50 people.

Mr. Cordero has helped thousands of families over 19 years of practice. Our attorneys have a combined 38 years' experience, helping the people of Miami. We are dedicated to providing professional service, reliable legal advice and hands-on client service.

Contact our office today at 305-445-4855 or toll free at 1-888-Free-799 to schedule an appointment for a free evaluation and put yourself on a path to a better financial tomorrow. We also assist Spanish speaking clients.