Bankruptcy Attorneys Serving Clients Throughout Warren County, Butler County, and Beyond
Despite what you may have heard in the media, bankruptcy is not the end. It is a new beginning. It is not criminal and is not published in the newspaper. If you are worried about bankruptcy having a negative impact on your life, you may be surprised that you have very little to worry about.
Most people find that their credit scores rebound surprisingly fast after filing bankruptcy and that they are able to get credit much sooner than expected. In fact, we have seen that many lenders, including vehicle and home lenders, are more likely to give a loan after a bankruptcy is filed because the borrower’s overwhelming debts have been eliminated, making it more feasible to pay on a new loan.
Having specialized in bankruptcy cases since 1974, we understand that bankruptcy is not something you want to rush into. At the law firm of Harold Jarnicki & Associates, our lawyers will take the time to address all your concerns so you can be confident you are moving forward in the direction that is right for you.
How Good Is Your Credit Score?
Many people who are overwhelmed by debt have already missed payments and fallen behind. They have already suffered major damage to their credit score. Filing bankruptcy is actually the first step in repairing a damaged credit score. Your debt is eliminated so you can start fresh and rebuild your credit with a clean slate.
Perhaps your credit score is really good, even in the high 700’s-800’s. It is important to know that a good credit score does not always mean you are in good shape financially. Often times, it is quite the opposite. For example, when you just make the minimum payments each month, your credit score stays high. However, you are not really paying off your debt. You are merely paying interest.
Over time, your debt will actually increase. This is why the credit card companies encourage you to make the minimum payments and keep your credit score high. You are literally making them more money. Despite your efforts to stay current each month, you actually sink deeper and deeper into debt.
In essence, many people who have high credit scores are in over their heads and will literally be paying this debt for the rest of their lives! Bankruptcy can help you permanently resolve your debt problems, instead of staying in the ongoing cycle of paying debt with no end in sight.
Credit Score Recovery
We will do everything we can to guide you toward fast credit score recovery after bankruptcy. It is important to know that the credit bureaus are not owned by the government. They are private companies that make their own rules. One credit bureau may show bankruptcy on your record for three years while another may show it for ten.
The more important question is whether it will impact your ability to get credit. In many cases, the answer is actually no. Remember, creditors are often more willing to give you credit after bankruptcy because they know that all of your other debt has been eliminated, so you will be able to pay the new loans back as planned. There are many ways to rebuild your credit following bankruptcy. We will show you them. It is important to know that there is life after bankruptcy, and we will lead you to a brighter future.
Contact Us for Your Free Initial Consultation
At our law firm, we understand that you work and that you have time constraints. We strive to make our services and appointment times as flexible as possible. We are happy to arrange meetings on evenings and weekends as necessary. We serve clients throughout the Lebanon, Mason, Middletown, Wilmington, Hillsboro, and Batavia areas. We are able to serve clients in the Highland, Warren, Clinton, Butler, Clermont, Montgomery, Hamilton and Greene Counties counties as well.
To talk to one of our Lebanon and Mason area attorneys about life after bankruptcy, contact us today.