Why do so many attorney ads say “Fresh Start” and what does it really mean?
A fresh start through bankruptcy enables you to keep the things you need to keep like your home, vehicles, household goods and furnishings, jewelry, retirement plans, future wages, bank accounts and your kids and spouse even on those days you want to discharge them! There are protections called exemptions which allow this to happen. So a fresh start means a new financial beginning for you and a new and more positive future!
Bankruptcy can be a frightening thought and word for most of us. We were all raised to believe we HAD to pay our debts no matter what. We often thought of the person filing for bankruptcy somehow a loser or felt sad for them. We thought of bankruptcy as a last resort and somehow something terrible. Well, the unknown can be scary but the more you learn THE TRUTH about bankruptcy and the more you realize the MYTHS ARE JUST THAT, the more you will find that bankruptcy may be a great option for you. And you will learn that it does not destroy your credit, you can buy a house and cars after bankruptcy and even get new credit cards. Remember, a credit score is based on your debt to income ratio and not based on the fact whether one filed for bankruptcy or not.A score is also bases on how one does with their home, cars and credit cards as far as timely payments. So as long as you continue to make timely payments after bankruptcy, your score will increase. If you do not own a home or have a car loan, don’t despair, we will give you advice on how to increase your score.
Lee Abt is an Experienced Bankruptcy Lawyer in New Jersey - Call Today!