The economy has presented some fairly significant financial challenges to people across the country. The cost of living has skyrocketed, unemployment is a sad fact of life, and property values—along with new economic opportunities—have steadily decreased. Worries about your debt—and whether you will be able to continue to provide for your family—can haunt your days and nights. Seeking bankruptcy protection may well be the best way to get a fresh start on your finances, as well as your future. Once you take the often-difficult step of speaking to an experienced Northern Virginia bankruptcy attorney, you may find that your attorney can help you in a number of ways. Your bankruptcy lawyer can:
- Stop creditors from threatening or harassing you.
- Protect your property and your rights
- Protect other assets such as your vehicles and home
- Delay—or even halt—foreclosure proceedings
- Have some of your debt discharged, allowing you to pay your bills
- Remove liens on your vehicle or home
- Guide you through the bankruptcy procedure, explaining what you need to know and alleviating your fears
I Never Want to See You Again!
While you have likely built a good relationship with your bankruptcy attorney, they are someone that you hope you never have to see again! After all, if you don’t see your bankruptcy attorney again, then you have likely been able to achieve your financial goals and rebuild your life. While it is a rather ironic fact of life, immediately following your bankruptcy, your credit score may actually go up, since your debt to asset ratio has improved. If you truly don’t wish to see your bankruptcy lawyer again, there are steps you can take to ensure a more positive financial future following your bankruptcy discharge, including the following:
- Wait 60-90 days after your bankruptcy discharge, and then check your credit report. All debt which was present on your credit report the day you filed for bankruptcy should show as “discharged/included in bankruptcy,” and should show a zero balance.
- Set up online access to all your credit accounts, which will alert you to any type of fraud and will send payment reminders to prevent your being late on your payments.
- As noted above, pay your balance in full (unless you have experienced a true emergency).
- No matter who asks—family members, friends, or co-workers—never co-sign a loan for someone else.
- Make a budget—and stick to it. Once you see your income and expenses on paper, you have a much better idea of where your money actually goes.
- Each month, set aside a set amount for emergencies. You will be glad you did, your washer dies, your car needs new tires, or a member of your family needs medical or dental attention. Remember—this is emergency money, and vacations, a new car, or a big screen television don’t fall in the emergency category.
- Try your best to build up an amount equivalent to four months of your take-home pay in your emergency fund.
- Start thinking about retirement; even if you are only able to put back $10 per week toward your retirement, you have at least made a start. Once you put the money in your retirement account, forget about it.
Contact Northern Virginia Bankruptcy Attorneys
At Tyler, Bartl & Ramsdell, P.L.C., we know how hard it is to get out of debt. That’s why we offer our legal services to all individuals and businesses that are looking to get out of debt the right way—while still maintaining good credit scores.
For over 25 years Tyler, Bartl & Ramsdell, P.L.C. has helped thousands of individuals and businesses find freedom from crushing financial debt. Call today for a free consultation at (703) 549-5000 or fill out our confidential contact form.