It Is Possible to Recover From Bankruptcy
PUBLISHED BY: LFN Primary
Des Moines, IA (Law Firm Newswire) October 3, 2012 – Many debtors do not believe it, but they can recover from bankruptcy.
Filing for bankruptcy is a very difficult and highly emotional decision; many do not take the matter lightly, and have many questions to discuss with their Iowa bankruptcy lawyer. Some of the questions may include, but are not limited to, how to get new credit in the future, how filing for bankruptcy will affect their credit rating and whether or not they will be able to rent or buy a home.
Many individuals are concerned about what kind of interest rates they would face, once their bankruptcy is discharged, how they can repair their credit rating and what that involves and what debts are discharged versus which debts must still be paid. It is a difficult process for anyone to face, as they feel overwhelmed by the rules and regulations. This is the time to consult with an experienced and compassionate bankruptcy attorney to get answers indicated Kevin Ahrenholz, an Iowa bankruptcy lawyer.
Many people find after bankruptcy that it is difficult to reconstruct their finances, find all the right paperwork, and determine what is classified as assets and what their debts are. During this process, they may also begin to ask themselves about the wisdom of their past decisions when it came to spending money. The past decisions are only relevant in so much as they serve as a reminder of how not to spend post-bankruptcy.
The bankruptcy process has a significant impact on an individual’s financial and personal future, as once the debtor has been discharged, they start the credit reclamation process. This may take many months to years to achieve. However, it is possible to rebuild credit after bankruptcy, provided the debtor is willing to work on the process. In this day and age, there are a number of financial institutions willing to work with debtors that have been discharged, and offer them an opportunity to rebuild their credit rating. The debtor just needs to manage their new credit wisely.
Kevin Ahrenholz is an Iowa bankruptcy lawyer and Iowa bankruptcy attorney. To contact an Iowa bankruptcy attorney, Iowa bankruptcy lawyer, or set up an appointment, visit http://www.iowachapter7.com or call 1.877.888.1766.
309 Court Ave., Suite 805
Des Moines, IA 50309
Offices in Des Moines, Cedar Rapids, Waterloo, Mason City, and Vinton.
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