What to Expect When Filing Chapter 7 Bankruptcy

What to Expect When Filing Chapter 7 Bankruptcy

We are continuing our series of articles discussing what to expect when filing Chapter 7 bankruptcy. Our previous articles gave an overview of what Chapter 7 bankruptcy is and explored the actual filing process. We also covered how you and your bankruptcy lawyer will be required to meet with your creditors before receiving the final discharge order. Today, we will look at what else to expect when filing Chapter 7 bankruptcy.

Credit Rating

Unfortunately, filing Chapter 7 bankruptcy will significantly damage your credit for up to 10 years. You may still be able to obtain credit, but it will be more costly (i.e., higher interest rate) and limited (i.e., lower credit limit). Your bankruptcy lawyer can suggest some strategies to help you re-build your credit after filing Chapter 7 bankruptcy.

Hiring a Bankruptcy Attorney

Filing bankruptcy can be quite complicated, so if you are considering filing Chapter 7, you may wish to hire an experienced bankruptcy attorney to help navigate the process. A bankruptcy attorney can file the paperwork, attend creditor meetings, provide suggestions on how to re-build your credit, and deal with any associated red tape.

It is often stressful for individuals to consider filing bankruptcy. Charleston residents and those in surrounding areas engage Drose Law Firm because our bankruptcy lawyer only handles debt resolution. If you are considering bankruptcy, we welcome the opportunity to talk with you. Give us a call to schedule a consultation with our bankruptcy attorney today.