Should You file bankruptcy?
You should consider bankruptcy as an option:
- If family relationships are suffering because of unpaid debt
- If you are falling further behind every month
- If debt collectors are calling you at home and at work
- If you are living on credit . . . “robbing Peter to pay Paul.”
- If you are facing wage attachment, repossessions or foreclosure
- If the stress and worry of unpaid debt has affected your health
Common Mistakes to Avoid
Bankruptcy Lawyer Buckley understands that nobody “wants” to file bankruptcy; and if there are better options, he will suggest an approach tailored to your circumstances. What is most important, however, is to understand your rights and options before “fatal mistakes” are made. Here are just a few common mistakes to avoid:
- Working with most “debt consolidators/ credit counselors/ non-profit agencies”: Why? Because most promise to get you debt-free, but are actually deceptive scams. Many will collect three months of payments from you before ever sending money to your creditors. After thousands of dollars are wasted, it usually takes four months before you realize that the “debt consolidation plan” was never reasonable or workable.
- Hiring a jack-of-all trades attorney: Why? Because you need a lawyer who is devoting their time and intellect to understanding Rhode Island bankruptcy laws, who has earned a good reputation with the local Trustee and knows how the Rhode Island Bankruptcy judge interprets the new bankruptcy law. Don’t take chances by hiring an attorney that could equally represent you in a real estate closing or speeding ticket. You can’t afford to hire an inexperienced attorney no matter how inexpensive the fee. When you need to file bankruptcy, the more experienced attorney will do a better job for you at a fair price.
- Robbing Peter to pay Paul: Why? Because certain desperate acts may delay the relief you could receive under bankruptcy protection laws. If you are tempted to take cash advances, balance transfers, payday loans, retirement account loans, or sell assets to pay bills, DON’T DO IT! Here is the key to knowing you need help: if your monthly living expenses already exceed your present monthly income, you need to break the cycle and call Attorney Buckley for advice.
- Believing common myths about bankruptcy? Why? Because lies cause fear and prevent one from getting the help he needs. Here are just a few of the myths Attorney Buckley hears regularly. I’m afraid to file for debt relief because . . . . a) everyone will know I filed b) I’ll lose my job c) I’ll lose my home or car d) I’ll destroy my credit forever e) I’ll never be able to qualify under the new bankruptcy laws f) I could never afford to file. The truth for most clients is that while bankruptcy law is complex, an experienced attorney can help make the process confidential, affordable and straightforward. Clients can wipe out unmanageable debt, keep their jobs, protect their property, and be considered a much better credit risk after they file for relief. The few problems that can happen are largely due to ignoring Attorney counsel or hiring an inexperienced/ incompetent Bankruptcy Attorney.
Rebuilding your Credit Score
We’re here to help not just with providing financial stability through bankruptcy but also to help you restore your credit. Attorney Mark Buckley knows that your bankruptcy is only part of your concern: You also want to get back to a normal life. This includes rebuilding your credit score as fast as possible.
For years, we have been meeting with clients who are terrified about the future: How will you survive in a world that will judge you based on your credit score? You need credit to rent an apartment, or buy a car. In fact, more and more, employers are running credit checks on potential employees.
We’ve listened to your concerns and then we found answers.
In our research, we’ve discovered that:
1) If you take immediate steps to start rebuilding your credit score after a bankruptcy, you can transform your credit score 12 to 24 months after your bankruptcy has been discharged.
2) You must take these steps. Too many people decide to wipe their hands clean of credit. As time passes, instead of having poor credit, they end up with no credit. Unfortunately, no credit is just as bad as poor credit.
Because our clients are so concerned about their credit, we searched diligently for an effective credit education program. After testing the program, we learned that people who have been through the 7 Steps to a 720 Credit Score program were able to substantially improve their credit scores, usually within 24 months of declaring bankruptcy.
With these favorable results, we decided to make this program available to every one of our bankruptcy clients for free.