Chapter 13 Bankruptcy Lawyer Oklahoma City, OK
Many people in Oklahoma who are considering bankruptcy have questions about the specifics of the bankruptcy process and its potential effects on their financial problems before ever filing a bankruptcy petition. These are the issues individuals face immediately and often discuss with their bankruptcy attorney when meeting for the first few times. Further down the road, petitioners generally have more questions as to what to expect after the process is completed and their debt is discharged. Their focus has shifted to life after bankruptcy, and many are surprised at how promising that life will seem. A Chapter 13 bankruptcy lawyer Oklahoma City, OK clients trust from the Law Offices of Marty D. Martin can answer all your questions.
Bankruptcy is a serious process and must be contemplated and discussed before entering into it. However, it is not something to be dreaded or viewed negatively. After filing a bankruptcy petition, many may be surprised at when they will be able to start a new, promising financial future. Here is some of what you can expect:
- You may be approved for certain types of credit immediately. Creditors will likely see that you have just ended a bankruptcy proceeding and know you will not be able to file for bankruptcy again for several years.
- After approximately two to three years, you should be able to take advantage of good offers for car loans, and you should start receiving competitive rates on mortgages and home loans.
- Bankruptcy clears your debt, but not your credit history, so negative items will still appear even after your bankruptcy case has ended. However, these negative items will have less of an impact on your credit as time passes and also as you add more recent, positive items to your report. This will improve a petitioner’s credit rating perhaps more quickly than they thought.
- Despite the fact that bankruptcy can stay on your credit report for a period of ten years, it does not necessarily preclude you from being eligible for credit. In fact, it can help you establish a new, improved credit standing in a relatively short period of time.
An Oklahoma City, OK Chapter 13 bankruptcy lawyer can explain all of this information in more detail during your consultation.
Just because those who recently closed their bankruptcy case may be eligible for credit sooner than they thought, it does not necessarily mean it is advisable to take advantage of such offers. Many credit card offers may carry high fees that apply before the card is ever used, as well as other charges that can lead to a financial situation similar to what led to bankruptcy in the first place. Use good judgment in choosing which credit accounts to open and work to re-establish your credit responsibly.
The Benefit of an Experienced Bankruptcy Attorney
It is important to note that many, if not all of these predictions depend on the specific circumstances of your particular case. An experienced bankruptcy attorney can better counsel you on what you can expect in your situation and advise you on how to avoid encountering problems in the future when your bankruptcy is behind you. Contact the Law Offices of Marty D. Martin to schedule a consultation with an Oklahoma City, OK Chapter 13 bankruptcy lawyer. We are prepared to handle your case successfully.
“Very professional. I messed up a couple times, but she walked me back through the process again, for a small fee of course. Fault of my own. Highly recommended.”