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Life After Bankruptcy

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Life After Bankruptcy in Fresno, CA

What will life be like after you have filed for bankruptcy? When speaking with clients of Arnold Law Group, APC after their bankruptcy is complete, they feel a cautious sense of relief. After a short period of time, these feelings often become complete amazement and freedom when the reality sets in. It is actually incredible to realize that the federal government has provided these laws to protect the average person or family and provide them with a fresh start. After months or even years of creditors endlessly calling at all times of the day or night, it is an amazing sense of relief to have peace return to your home and mind. People oftentimes notice a higher quality of life as a result, no longer fearing to answer your phone calls.

Rebuilding Your Credit

“Bankruptcy: The Ten Year Mistake!” Do you remember hearing this message? Like any other marketing campaign, this message actually had air time on radio advertisements, television advertisements and billboards. This kind of negative and false advertising flies in the face of the "fresh start" that bankruptcy protection laws provide. The fact that you declare Chapter 7 or Chapter 13 bankruptcy can certainly be a part of your credit report for the next 10 years. However, so can bad credit card debt.

The difference is that the bad credit card debt keeps reporting a negative mark against you, each and every month. What happens when you have 5, 10, 15 or 25 bad debts, with each of them reporting negatively about you to the three main credit reporting agencies? Even if you have long forgotten about that old credit card believed to have been written off, you may be shocked to learn that the old credit card has not forgotten about you. Bankruptcy effectively stops the negative reporting to the credit reporting agencies.

Essentially, the omission of the monthly negative reporting alone helps commence the rebuilding process of your credit score. A Fresno bankruptcy attorney need not only concentrate upon your present situation, but also should be concerned with your future. At the Arnold Law Group, APC, we start speaking about potential credit rebuilding options upon our first consultation with you. Stop listening to the gloom and doom of false advertising and start taking steps necessary to rebuild yourself. We can help!

Property Exemptions

Every state has a schedule which determines the types of exempt property and the monetary values of this property a debtor can keep. California has two such schedules, and the selection of the proper property exemption schedule is very important. At Arnold Law Group, APC, our bankruptcy lawyers understand these exemption schedules, and our goal is for you to keep all legally exempt property. If the United States Trustee determines that your property is not exempt, he/she may seize then sell it, and turn over most of the monies to your creditors, while keeping a percentage for him/herself.

It is extremely important that a qualified attorney properly complete your means test and make sure all available exemptions are properly claimed. At Arnold Law Group, APC, our Fresno bankruptcy attorneys are qualified to ensure that your entire bankruptcy petition is filled out properly and that you receive all of the exemptions, which you are legally entitled to. For this reason, we encourage you to work toward a fresh start today by retaining the help of our firm. .

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