Thursday, March 8, 2012

Life After Bankruptcy In Massachusetts

Life After Bankruptcy In Massachusetts

Jeffrey A. Runge, Esquire – Massachusetts

Whether you filed a Chapter 7 or Chapter 13 Bankruptcy in Massachusetts, after concluding your Bankruptcy you will find that things will change considerably for the better. You will no longer be receiving any harassing and threatening phone calls from creditors. You will be free of your debts or will have a good payment plan worked out and will no longer have the heavy weight of unpaid bills keeping you from being able to think about anything else. You will have a new, fresh start to begin your financial life once again. The relief you will feel will significantly change your outlook on life.

Because you now have some negative reports on your credit, from being late on payments as well as the Bankruptcy filing, you will find that you may initially have difficulty obtaining loans or credit cards. However, credit it is still available to you. You will simply have to look for such loans or credit cards a little harder in order to find them and pay a higher interest rate for a time until you re-establish your credit. If you have a mortgage and/or vehicle loan, you will find that it is relatively easy for you to re-establish your credit in a relatively short period of time.

As part of your Massachusetts Bankruptcy filing you were required to attend a financial management class. This will help you have the proper tools to keep your expenditures below your income. Any new credit you obtain should be used sparingly and payments on any new debt should be kept on time. Having the correct advice to follow through the entire Bankruptcy process is vital.

Basic Steps To Move Forward

In order to prevent having to file Bankruptcy again, we encourage our clients to follow a few basic steps to ensure that they stay on an even footing financially. Obviously one of the most important things to make sure of is a steady source of income. Do everything possible to obtain and keep good employment. With our hard economic times this may not be as simple as it sounds, but it is vital you take whatever steps you need to make yourself marketable and locate a reliable job. In addition, use any new credit as responsibly as possible. It is best to earn the money first for whatever item you are wanting to purchase. Always pay your monthly bills in a timely manner, do not get behind on any bills. This will also help you re-establish you credit. Preparing a monthly budget of all your expenses is very important to being able to keep track of where your money is going and keeping expenses down. It is much easier to see where you can cut expenses, if necessary, if you have such a budget. Establish a savings account and put a set percentage of you income aside every time you get paid. This will allow you to have a safety net in case of an emergency.

Once your Bankruptcy has been Discharged, you can see that this will lead to an opportunity to change your financial future and obtain a happier life for you and your family.

FAMILYLEGAL is the largest consumer Bankruptcy provider in New England because, in part, we earn the trust of everyone we meet with. We will NOT put anyone in a Bankruptcy if that is not the best possible option for their specific financial situation. If Bankruptcy is not the right option for you, we will match you with reputable debt consolidation and debt settlement companies that will do their best to resolve your financial crisis. As most of our clients come from personal word-of-mouth recommendations, it is vital to our continued success for us to earn your confidence whether you ultimately use our Bankruptcy service or not. FAMILYLEGAL will be your trusted partner in resolving your debt crisis and moving you forward towards future success.


Massachusetts Bankruptcy        1-888-725-1114
New Hampshire Bankruptcy     1-877-357-2255
Maine Bankruptcy                     1-603-742-7500
Rhode Island Bankruptcy          1-781-849-7777