The purpose of the bankruptcy laws is to provide people a break and an incentive to work, earn income, pay taxes and buy new stuff. That keeps the economy going and gives individuals a financial incentive to keep going.
If you are bogged down in debt or judgment creditors are taking 25% of your gross income, people don’t have much incentive to keep working because they don’t see any of the reward for working hard. Bankruptcy provides that incentive and Chapter 13 people helps people strike a balance between paying money toward the creditors while still having enough money to live and take care of their family.
One common question people have when they are considering filing for bankruptcy is if they will ever be able to buy a home or car again after filing for bankruptcy.
What is most surprising to people we have helped is that after filing bankruptcy, you are inundated with new credit opportunities such as offers for new credit cards and car loans. The problem is not getting new credit….the problem is saying no to all of the new opportunities and choosing your new credit wisely.
If you would like to get your credit score back up quickly, you won’t have to wait as long to apply for a loan for a car or home.
Here is what you can do to improve your credit score:
Over the past 30 years, the Law Offices of Christopher A. Benson has helped over 2,300 of Washington clients take control of their financial situation. We can stop your garnishment and change your monthly payments for all your combined unsecured debt, and if you have had more than $600 garnished within the last 90 days, we can get all of the money back in most cases. But you have to act quickly–call (253) 815-6940 for your free consultation, or email us today. Evening and weekend appointments available.
About the Author
Chris served on the Board of Directors for Habitat for Humanity
Seattle/S. King County for 10 years and served as Vice President
of the organization during part of that time. Read More