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Life After Bankruptcy

Michigan Bankruptcy Lawyers

Creditors keep calling me. I can't keep up with my bills. I am afraid I will lose my home to foreclosure. I need to file bankruptcy, but am afraid of how it will affect my credit. I need help.

Many people are hesitant to file bankruptcy fearing the repercussions. However, bankruptcy is not the end. Rather, it is a beginning of a more financially stable future. At Acclaim Legal Services , we offer quality advice to clients on how bankruptcy can help repair and re-establish your credit.

Contact the bankruptcy attorneys at our Michigan law firm for educational bankruptcy information and good advice on how to repair your credit.

Advice on how to Move Forward and Repair Your Credit

After filing for bankruptcy, there are many things that should be considered, to prevent future debt problems and improve your credit rating. Our bankruptcy attorneys can help you evaluate your situation and offer tailored advice and practical suggestions on how to move forward based on which Chapter you filed under.

• Chapter 7: You have a "clean slate" after a Chapter 7 bankruptcy. Now it is important to make the right decisions about rebuilding your credit. Generally, we advise clients to not use credit cards. If you do use credit cards, pay them off each month. Make and keep a manageable budget.
• Chapter 13: We will establish a budget within the plan.  Be careful to track your spending and maintain receipts for your records. Establish reserve funds to ensure you are able to continue paying your mortgage if a sudden emergency arises. Do not use credit cards or pay them off each month. 

A foreclosure is more damaging to your credit report than filing for bankruptcy. By filing for bankruptcy, you have shown your desire to take charge of your debt and move forward. Yes, bankruptcy will show on your credit report. However, the immediate years following bankruptcy will re-establish your credit as you complete the repayment plan.

Credit Repair Advice from Experienced Michigan Attorneys

Contact us  at 866-261-8282 for advice from an experienced bankruptcy lawyer. In addition, we have the resources to refer you to a reputable credit counseling agency.