Life After Bankruptcy &Coming Back Stronger Than Ever

http://www.changandcarlin.com

LIFE AFTER BANKRUPTCY:

COMING BACK STRONGER THAN EVER.

Declaring bankruptcy does not need to define you or your financial future. Before filing Chapter 7 in Chicago, make sure you consult with a bankruptcy attorney well versed in Illinois bankruptcy law. Select a firm that can guide you through this difficult process and help you rebuild for the future. At Chang & Carlin LLP, we focus in bankruptcy in Chicago and the suburbs, and can show you how to recover your credit rating and your good name in two years or less.

Bankruptcy Can Be A New Beginning.We all fall on financial hardships. But life can and will go on. Regardless of what caused your financial predicament, the bankruptcy attorneys at Chang & Carlin, LLP can help you understand your rights and limitations with your current creditors, and advise you on which steps to take to re-established your credit, including:

Getting and using credit cards Applying for a new home mortgage Financing a new vehicle

Why You Need A Credit Card.Obtaining a credit card and using it responsibly is one of the fastest ways to rebuild your credit.

Facts About Your Current Credit Cards: Credit cards carrying a balance during the time of filing Chapter 7:

o You must declare the full amount.o The balance will be factored into your overall debt. o Failure to disclose this information is illegal.

If you have a zero balance at the time you file Chapter 7:o You can continue to use your cardo You are not required to disclose your bankruptcy status to creditors. o If creditors discover that you have filed for bankruptcy, they can

exercise their right to revoke your cardo Some creditors will retain your business provided you enter into a

new, more restrictive contract.Apply For A New Credit Card: Secured credit cards are for individuals with a compromised financial history. They offer lower credit limits and higher interest rates, but they allow you to re-establish your credit. In time you may qualify for a non-secure credit card. Use Your Card Responsibly:

Make your payments on time. Whenever possible, pay more than the minimum.

o Making minimum payments will cost you more in the long run.

o Making minimum payments contributes to accumulating debt.

A New Home Mortgage Within 18 to 24 Months: You can usually be considered for a home loan within two years from your filing

date. Your down payment, current income and financial stability are more important to

lenders than the details of your bankruptcy.

Looking Towards The Future.You may be facing turbulent times, but the so-called “damage” is not irreversible. At Chang & Carlin, we have helped thousands of clients make a fresh start and we can help you, too. For a free evaluation and to discuss your situation with one of our bankruptcy attorneys, click here (live link). We have offices in Chicago, Schaumburg and other neighboring suburbs.

Author BioDavid Chang of http://www.changandcarlin.com was born and raised in Chicago, IL and its surrounding suburbs. David began his legal career in 2001, where his major focus was in residential real estate transactions. In 2003, David moved on to representing clients in both Chapter 7 and Chapter 13 bankruptcies.