Anyone who has more debt than they can ever realistically pay back should consider bankruptcy. You may have been led to believe that filing bankruptcy to relieve you of your debts will ruin your credit, and you’ll never be able to own a house or car again. In reality, most people start getting credit card offers in the mail as soon as their bankruptcy is discharged. Some auto lenders also market to people who are just completing their case in bankruptcy court. In the early months following your discharge, the credit offers you receive are most likely going to have very high interest rates.

It may be beneficial to accept one of these offers. By showing that you can use credit responsibly and repay your debts on time, your credit score will slowly increase. After a few years, you may even qualify for a mortgage. However, because the record of a Chapter 7 bankruptcy filing will remain on your credit report for 10 years, you should be very careful about applying for loans and credit cards. Each inquiry will have an effect on your credit score and multiple requests for your credit report by lenders might negate the positive changes you’ve worked so hard to make. If you want to improve your credit score, it is important that you work to rebuild your credit slowly. Visit website hire a professional bankruptcy attorney in Norman, OK.

Nearly anyone can face insurmountable debt. Sometimes it only takes an extended period of unemployment or a major illness to make a person need bankruptcy protection. If you are in over your head and need help to stop creditors from calling you constantly, contact a bankruptcy attorney in Norman, OK. A lawyer can explain the process and tell you whether you qualify for Chapter 7 bankruptcy protection.

The bankruptcy code is designed to help people just like you get a fresh start in life. You can expect a bankruptcy attorney in Norman, OK, such as the Cain Law Office, to work hard to help you keep the property you need to live. You may not lose your late model car that is paid in full or the furniture in your home just because you can’t pay your bills.