In Bankruptcy

Tens of millions of people lost their jobs because of Covid-19.  Less than half have returned back to work.  More than 50% have not.  The pandemic has hit the restaurant, travel, bar and retail & beauty industries the hardest.  If you’ve become re-employed but are carrying high debt, bankruptcy can protect your income and provide relief.  If you are still out of work, bankruptcy can protect your assets.  More importantly, it will also help with your credit score which will assist in obtaining employment.  The smaller job market has resulted in employers being more selective with applicants.  Your credit score is a significant part of that selection process.

The decision to file for bankruptcy is a difficult and emotional one. However, if you qualify to file for Chapter 7 Bankruptcy, it is almost always the right decision for you and your family’s future. In more than 30 years of helping people achieve a brighter financial future with the help of bankruptcy laws, I have never had one client tell me it was the wrong decision.

While bankruptcy may initially, negatively affect your credit, its impact may not be as detrimental as some think. Most people who qualify to file bankruptcy already have delinquencies, high credit balances, liens, judgments, foreclosures and or other issues that are negatively affecting their credit. In most cases, these individuals are not able to obtain financing or better employment.  Bankruptcy does not make this worse. Bankruptcy creates a clean slate allowing one to start rebuilding their credit immediately.

It is possible to improve your credit score relatively quick, but you must first resolve your outstanding debt. The Attorneys at Bellenot & Boufford LLC can help you resolve your debt and better understand your credit report so you can improve your credit score, lower your expenses and provide a better quality of life for your family.

Bankruptcy is not the end of your financial life, it is the beginning of a better, brighter, financial future. It starts by downloading our Bankruptcy document checklist which identifies the documents that we will need to review your financial situation.

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