Wednesday, December 22, 2010

Ghosts of Bankruptcies Past

Most people think there is a stigma attached to Bankruptcy - they think it's a dirty word. However, the public has a misconstrued perception of bankruptcy. Most feel once you file bankruptcy it will "haunt" you for 10 years or leave you open for discrimination. These are all misconceptions; the reality is that bankruptcy may be the end of your financial hardships, and the answer you're looking for.

There is a mistaken belief that bankruptcy will financially blacklist you for at least ten years or even for life. Bankruptcy does reflect on your credit for ten years, however, after you file a successful bankruptcy case you start from scratch. Your credit history is gone and you literally start at a zero credit rating. You have a "rebirth" and begin a new credit history. This provides you with the opportunity to reestablish excellent credit within as little as 24 months. For many, this is an indescribable relief to their financial woes.

If you feel bankruptcy may be the answer you were looking for, please call our office to schedule a free half hour consultation.


Rachel M. Alvarez, Esq.
The Alvarez Law Firm A Professional Association

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