Bankruptcy can give you a fresh start

One of the major concerns most clients have is whether or not they will ever be able to rebuild their credit. Their concern is unfounded. The credit card companies would like for you to believe that bankruptcy is the end of your credit life. It does not have to be at all. Bankruptcy can be a new beginning.

The credit companies offered you great opportunities to be able to purchase many luxuries which you could not have otherwise have afforded, but the high interest rates became overwhelming, and you ended up unable to repay them. It is as simple as that.

You can re-establish your credit. All that you must do is realize that we live in a world based on borrowing, and that borrowing is very good for business. When you file for bankruptcy, you remove your past debts and you are free to borrow again in a relatively short period of time. Yes, the credit card companies will want higher interest rates, but that is a small price to pay for starting over with a clean slate.

Is Bankruptcy the best option?

‘This may be the most comprehensive, rational option for you. Here is a short quiz to help you to decide:
1. Can you only afford to pay the minimum or even less on your monthly payments?

2. Do you use your credit cards for almost everything you purchase…wondering just how you are going to pay them each month?

3. Are your credit cards maxed out?

4. Is your credit card debt so high that you don’t know just how much you owe?

5. Have you had to skip payment on at least one credit card payment in the last month?

6. Are your creditors calling you at work and during your off hours?

7. Have you been behind on your house payment in the last six months?

8. Is your monthly income too low to cover all of your debt payments?

9. Is your home about to be foreclosed on?

10. Are you afraid of your car being repossessed?