Press Release Author = David M. Siegel & Associates
Industry = Internet & Online
Press Release Summary = Bankruptcy can improve the quality of your life. No more harrassing telephone calls, no more hiding from bill collectors. Finally, a good night\'s sleep.
Press Release Body = FOR IMMEDIATE RELEASE 12-15-05
Is Life Better After Bankruptcy?
Yes, life can be better after filing bankruptcy. The harassing telephone calls will stop. The constant collection letters will no longer visit your mailbox. You can function better at work knowing that you won\'t be hounded by bill collectors at your job.
Chapter 7 bankruptcy is often referred to as a \"fresh start\" bankruptcy. The majority of unsecured debts are eliminated and the individual is free to pursue the American dream again. Some debts such as student loans, recent taxes, alimony, maintenance, child support, parking tickets and traffic fines are not eliminated in a Chapter 7 bankruptcy. Although the bankruptcy laws have recently changed, some 85% of would be bankruptcy filers would still qualify under the new law. This statistic was provided by Best Case Bankruptcy, a software development company for bankruptcy filings throughout the country. They estimate that only 15% of potential filers would be forced into Chapter 13, which is a form of bill consolidation.
B. Burns, of Chicago. has found life after bankruptcy to be a great improvement. She no longer receives collection calls, but cautions others against overspending. She received dozens of offers for high interest credit cards shortly after she came through bankruptcy. She was also inundated with offers from auto dealerships promising to put her into a new vehicle. These vehicles could be bought, but not without the high interest rate loan attached to it.
David Siegel, Chicago bankruptcy lawyer and American Bankruptcy Institute member, recommends that his clients proceed on a cash basis for at least one year after filing bankruptcy. He provides further recommendations at http://www.bankruptcylawyerschicago.com. He does recommend a secured credit card in some instances. However, all clients should be leery of credit offers that sound too good to be true because they often are too good to be true. If a client can wait two years after filing, he can likely qualify for a decent mortgage with a decent interest rate.
For more information: David M. Siegel davidmsiegel@hotmail.com http://www.bankruptcylawyerschicago.com
Web Site = http://www.bankruptcylawyerschicago.com
2022
