Many people assume that filing bankruptcy means the end of financial stability. In fact, the exact opposite is often true: Bankruptcy is a way to breathe fresh life into your financial future. In many ways, it is like hitting the reset button, gaining a second chance to start over with a clean financial slate.
The goal of bankruptcy is to eliminate burdensome debts. Most types of debt - such as credit card debt, medical bills, unpaid utility bills and payday loans - can be wiped out through the bankruptcy process. This means that at the conclusion of the process, your qualifying debts will be permanently erased.
If you are considering bankruptcy, chances are your credit has already hit bottom. You may be wondering if your credit can ever be restored. Fortunately, many people find that their credit starts to improve after filing bankruptcy. The first step toward rebuilding your credit is getting out of debt, and bankruptcy accomplishes exactly that.
Many people assume that they can never again own a home after filing bankruptcy. Fortunately, that is not the case. Just as you can start to rebuild your credit through bankruptcy, so, too, can you work toward saving for a home. Special types of loan programs are available for those who have previously filed bankruptcy; generally, you can qualify within a few years after completing bankruptcy proceedings.
You can rest assured that there is life after bankruptcy. At The Law Offices of James T. Marasco, we are dedicated to helping people like you achieve financial freedom. Our founding lawyer has handled countless bankruptcy cases over the course of his extensive career. We can walk you through your options and provide step-by-step legal guidance.
Schedule a free initial consultation with James T. Marasco to have your questions answered and start on the road to financial recovery. You can reach us online or by telephone at 401-421-7500 (Providence) or 401-789-1800 (Narragansett).
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.