Life After Bankruptcy

What Happens After You File for Bankruptcy?

Understanding the entire bankruptcy process is important and beneficial because this action will impact your financial future. Bankruptcy will have a temporary negative effect on your credit and will effect your credit score for 10 years. However, as you regain solid financial footing by avoiding unnecessary debt and paying your bills on time, you can rebuild your credit and have a better outlook on life in general here in Mississippi.

Chapter 7 Bankruptcy

After you have worked with your lawyer, met with your bankruptcy trustee and completed your credit counseling sessions, your debt will be discharged within three to six months. This discharge zeros out most types of debt and allows you to have a clean slate moving forward.

Chapter 13 Bankruptcy

You will begin a bankruptcy payment plan as soon as your case is filed. Later, you will have a meeting with the bankruptcy trustee. After that, the bankruptcy court will decide whether to approve your plan. We have had thousands of plans approved for our clients. The monthly bankruptcy payments will secure the future of your home and other secured items that you wish to keep. At the end of the three- to five-year payment plan, the remainder of your debt is discharged, so long as you did not miss any payments during that time period. While you are in Chapter 13 bankruptcy, you are not allowed to take on any new debt that is not court ordered. New debt includes, but is not limited to, things like car loans, without the approval of your judge.

Call our Picayune bankruptcy attorney for navigating life after bankruptcy at 601-500-5533 or contact us online to learn more about how you can turn your financial world around.

Ridgeland Chapter 7 Attorney

Over time, the bankruptcy will affect your credit score less. If you make it a priority to manage your money better and resolve to improve your financial habits, it is likely you will rebuild your credit faster than if you allow old patterns to reestablish themselves. It is important that you do not over extend yourself after filing bankruptcy. A Chapter 7 bankruptcy can only be refiled after 8 years. The bankruptcy safety net may not be available it you fall on hard times again.

Bankruptcy is designed to give you a fresh start and to help you not make the same mistakes again. If you follow the guidance given to you by your attorney, the bankruptcy trustee and the credit counseling sessions, you will see your life and financial health improve. If you don't apply for exorbitant loans, run up your credit cards or fail to pay your bills on time, we can help you take that fresh start and grow it into a fulfilling, healthy financial life.

Contact The Rollins Law Firm at 601-500-5533 to schedule your free initial consultation today.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Client Reviews
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I had a wonderful experience. The staff were nice and very informative. The process was quick and easy. Very affordable for me being a single parent. Would recommend anyone there. - Lashay H.
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The Rollins firm assisted me at a very low point in my life. After having a lot of medical issues and expenses, I found myself unable to make ends meet. Mr. Rollings and his staff worked very promptly to help. They made the process so easy to complete. - Vinester Smith.
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Fast response and professional advice. Really great to work with and understand what a difficult time in one’s life this is. Will recommend to anyone - Bryan Aust.
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My wife and I were in an impossible financial situation where over time, we had built up so much debt that we could no longer keep up with all the payments. We were getting further and further behind until we reached out to the Rollins Law Firm for help. They have the knowledge and expertise through their experience to handle our particular situation. Their entire team of professionals are always available to answer questions, explain your options, and then provide the legal service that you need to relieve your financial worries and get you back on the right track! I recommend the Rollins Law Firm to anyone who needs help to deal with financial struggles. - Mike Zegelien.