DuPage County Lawyers Helping You with Life After Bankruptcy
What Happens After Your Bankruptcy Discharge?
Bankruptcy is not the end of the world. In fact, many people find they are eligible for credit immediately after a bankruptcy discharge because creditors know that individuals cannot file for bankruptcy again for at least eight years.
In general, it takes about two years for you to see competitive financing on car loans and about four years for competitive rates on home loans. However, it may be much sooner or a little later depending on a number of factors. We can help you better understand issues about credit and avoiding problems in the future.
Post-Bankruptcy Frequently Asked Questions
The following is an attempt to answer some of the questions we receive regarding post-bankruptcy issues. Please note that these answers are general in nature, and your answer may be different. For that reason, we strongly suggest you contact an experienced bankruptcy lawyer to explain your situation and discuss specifics as they apply to you.
Q. How long will bankruptcy remain on my credit history?
A. A bankruptcy can remain in your credit history for a period of ten years. However, that does not mean you will be unable to get credit.
Q. What happens if I forgot to mention a creditor in my bankruptcy petition now that I have been discharged?
A. That depends on the type of bankruptcy. If you had a no asset case (where none of the creditors received any money or assets), then the unsecured debt you forgot to mention will also be discharged, even though the creditor never received notice of your bankruptcy.
Q. What happens if a creditor still tries to collect a debt that discharged by my bankruptcy?
A. You do not owe the money for debt that properly discharged in bankruptcy. The creditor is likely in violation of the bankruptcy laws, and you may have an action or another remedy available. Contact us to further discuss your options.
Q. What happens if my discharged debt is still showing as a pending debt on my credit report?
A. Credit reporting agencies are under an obligation to report your credit history properly. If a properly discharged debt is still showing on your credit report, and the credit reporting agency is unwilling to correct this mistake, Contact us to discuss your options.
Contact an Experienced DuPage County Bankruptcy Attorney
If you have questions about your fresh start after bankruptcy or about a post-bankruptcy matter, please schedule a free, confidential consultation by calling us at 630-932-9100630-932-9100. Or, if you prefer, fill out our online contact form so that we can contact you to schedule a consultation.
Pursuant to 11 U.S.C. §528, Mevorah & Giglio Law Offices is considered a debt relief agency. We will proudly help you file for bankruptcy relief under the Bankruptcy Code if we believe it is in your best interest.