Vance P. Truman, Attorney at Law
Putting People's Financial Worries Behind Them Free Initial Consultation

You don't need to fear bankruptcy

You know that you need a fresh start, financially speaking, but you feel terrified at the idea of bankruptcy. It's not the process itself that intimidates you, but the ramifications. What is that going to mean for your future? Once you file, you can't take it back. You don't want to make a mistake that is going to impact the rest of your life.

Specifically, you're worried that you will ruin your credit and never be able to get a loan again. That means no credit cards. It means no mortgage. It means no student loans, no car loans, no lines of credit at your favorite stores.

You have an idea in your head for what you want your future to be. Sure, you're not there yet, but it's what you're aiming for. You want a home for you and your family. You want a reliable car. You want to finish your education or put your kids through school. You worry that declaring bankruptcy would ruin it all.

This does not happen

Let's be very clear: This does not have to happen to you. Bankruptcy does not have to make any of your dreams impossible. It should actually open a lot of long-term financial doors. That fresh start can be a decidedly positive thing in all regards.

All you have to do is rebuild your credit and put yourself in a position to succeed. For instance, you can often get a secured credit card. It requires a small deposit, but it gives you a chance to use the card and then pay it off. That's how you build your score back up. Doing nothing just leaves it stagnant. You want to go out and actively take on debt so that you can prove to lenders that you are able to pay it off.

Speaking of being able to pay it off, did you know that many lenders want to give cards to people who just used Chapter 7 bankruptcy? You cannot do it again immediately after filing, so they know you won't be able to discharge your new debt. They also know that you do not have outstanding debt -- specifically because you discharged it in bankruptcy -- and so they know you can afford the payments.

This means that you look more attractive to lenders. Taking out those cards and using them correctly just makes this position even stronger.

Getting started

In time, you can still get everything that you want out of life. Bankruptcy is not the end and it will not ruin your chances. You just need to know what options you have and how you can get started down this path to future financial freedom.

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689 Lafayette Rd.
Medina, OH 44256

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