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Five Things To Expect After You File Bankruptcy

Being prepared for what to expect during a bankruptcy case make it easier to decide whether to file. We all like to know what lies ahead, so we can plan for the things that need planning. But it is also nice to know what to expect after you have gone through a life changing event. And filing bankruptcy can be life changing, for the better!

Here are five things you should expect after filing for bankruptcy:

• Creditors will stop calling and asking you to pay past due debts. The instant you file a case it is against the law for your lenders to contact you about payment.
• If you have any active collection, repossession, foreclosure, or garnishment cases pending; those have to stop as well.
• You will have to go to Court, but probably only one time. A few weeks after your case is filed you will go to an initial meeting called a 341 meeting, or meeting of creditors. Your attorney will ask you a few questions about why you filed, and if any of your lenders want to ask questions this is their chance. Questions from lenders usually relate to whether you are going to keep making payments to them and keep the collateral for the loan, and are usually only asked by your mortgage and car lenders.
• You will not have to pay your unsecured debts, or at least not in full. This puts more money in your pocket, which allows you to stick to a budget and stay current on your bills.
• You will start receiving offers of credit soon after your case ends. Only take out a new loan or credit card if you are able to repay it without struggling.

Bankruptcy has been the answer to financial distress for years, and it can be your answer too! The relief you feel at not being able to pay all of your bills is immeasurable, and can give you a much needed break from the stress of having too little funds on hand. If bankruptcy sounds like the answer you have been looking for, call us to find out more.

If you are considering filing bankruptcy to help eliminate debt, or want information on other options, contact us at

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