No doubt about it, your life after bankruptcy will be different. But you shouldn’t dread these changes — quite the opposite, actually.
Although filing for bankruptcy may feel discouraging, making the decision to file is a positive step toward a brighter financial future. You have plenty of reasons look forward to putting these difficult times behind you and enjoying a fresh start.
Reason No. 1: No More Creditor Calls After Filing for Bankruptcy
Do you cringe every time the phone rings, worried that a creditor might be on the other end of the line?
Calls from bill collectors can be incredibly stressful. You’d like to be able to handle your debts, but your circumstances have tied your hands — and your creditors aren’t sympathetic to your financial difficulties.
As soon as you file for bankruptcy, all of the creditor calls will instantly stop. No more stressing over the state of your bank account or your past financial decisions when you hear the phone. No more demands for money you simply don’t have.
Finally being free from bill collector calls brings a huge sense of relief.
Reason No. 2: After Bankruptcy, Your Paycheck Will Be Yours Again
Before filing for bankruptcy, you mentally weigh every expense and purchase against the debt you’re trying to pay off. As a result, even the simple act of grabbing a cup of coffee or going out for a meal when you’re too busy to cook can make you feel guilty.
While bankruptcy may not erase all of your debts, it will free up your paycheck. In many cases, filing can even stop wage garnishments.
Life is much better when you can make your own financial decisions, without having to funnel all of your available cash to your creditors. After you receive your bankruptcy discharge, the choice of what to do with your paycheck is yours.
Reason No. 3: Life After Bankruptcy Is a Chance to Start Over
Once your bankruptcy is discharged, you won’t have a mountain of bills hanging over your head any longer. Most — if not all — of your debt will be erased, giving you the opportunity for a fresh financial start.
After bankruptcy, you can invest in your future by developing sound financial habits. You can learn from past money mistakes and work toward building your future by making sensible decisions.
The required credit counseling and debtor education courses give you a solid foundation for wise money management. Though it may take some time, starting over after bankruptcy will allow you to build the financial portfolio you deserve.
Your journey through bankruptcy may not be an easy one, but knowing that a brighter financial future awaits can help. To learn more about the benefits of life after bankruptcy, contact the professional attorneys at Lewis Adams & Associates. Based in West Jordan, Utah, we serve clients throughout the Salt Lake City area. Contact us today to schedule a confidential bankruptcy consultation.