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Life After Bankruptcy

Home » Videos » Life After Bankruptcy

Hello, this is Roger Ghai, with Law Offices of Roger Guy. One of my areas of practice is bankruptcy law, which I’ve done for over 30 years now. And I wanted to speak this morning because we get a lot of clients who are asking us, “What does life look like after bankruptcy?” And a lot of times people are fearful that if they file a bankruptcy, they’re going to be forever tarnished economically, and that they’re not going to be able to make purchases of significant, such as a home or a vehicle, things of this nature. First of all, whenever you file a bankruptcy, especially Chapter 7, it does stay on the credit report for a total of 10 years.
But the whole process to file a 7 in the typical case is probably about four to five months. That is from the time he filed the case to the time you actually get the discharge from the bankruptcy court is about four or five months. Five months, let’s say. And then what happens after that is because you’re now debt free, then the creditors want to go ahead and start getting you back on that debt wagon again and you’re going to start to get a lot of slit solicitations from credit card companies for credit cards.
Obviously the offers aren’t really that great because they have high interest rates. And then you’ll also very commonly receive offers from car dealerships to go ahead and purchase a new car. So you want to stay away from some of those things and be wise with your money, you’ve just gotten out of a bankruptcy case. But I will say this, that if you go ahead and you start slowly and maybe get a secured credit card and you build that up over time, your credit score is going to increase significantly as long as you’ve got a job and you’re paying your bills after you filed the bankruptcy on time.
It’s very common for people who’ve been through a Chapter 7 bankruptcy to qualify for mortgage within about 18 to 24 months of the filing of their case. And so filing a bankruptcy, although it’s not the best situation that you want to find yourself in, it’s also not like a permanent financial depth to you either. So if you have questions about this or concerns about filing a bankruptcy, just call my office at (770) 792-1000.

Bankruptcy Blog Posts:

Bankruptcy Filings Continuing To Rise In 2010

Due to high unemployment and an uncertain economic climate, consumer bankruptcy filings in America have increased in 2010. According to statistics reported by the American Bankruptcy Institute, a

Chapter 7 Bankruptcy and Chapter 13 Bankruptcy Comparison

Good Morning, this is Roger Ghai of www.Chapter7attorneys.com. I wanted to do a little informational video on bankruptcy options. In particular, Chapter 7 bankruptcy options and Chapter 13 bankruptcy

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to News & Talk 1380 WAOK. This is Janice Mathis and we’re here this afternoon and every Sat. afternoon at 1pm to talk with one of our lawyers who’s

Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to Legal Talk. This is Janice Mathis. This is my favorite hour of the weekend. I learn something new every weekend talking to these brilliant lawyers we have

Bankruptcy FAQ:

Bankruptcy FAQ
Bankruptcy FAQ

Frequently Asked Questions: Table of Contents Who is permitted to file and maintain a chapter 7 case? Who should not file a Chapter 7 case? Is there anything that a person must do

Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy
Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

The injunction is formally issued pursuant to 11 U.S.C. 362(a), commonly referred to as the Automatic Stay provision of the bankruptcy code, and it prohibits creditors from making further attempts to

Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?
Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?

In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in

Can You Claim A Homestead Exemption In A Home You Do Not Live In?
Can You Claim A Homestead Exemption In A Home You Do Not Live In?

The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts

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    Can You Keep Your House If You File For Chapter 7 Bankruptcy?

    Can You Keep Your House If You File For Chapter 7 Bankruptcy?

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

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      1301 SHILOH RD NW STE 430

      KENNESAW GA   30144

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact