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What Happens After Bankruptcy?

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From Quick Guide: Corporate Bankruptcy Basics

Summary: After bankruptcy is filed, people should expect to have a poor credit report and should begin making timely credit payments to slowly regain credit during the sensitive rebuilding process. Pay bills on time and obtain an accurate credit report to begin building credit after bankruptcy with information from a lawyer in this free video on bankruptcy.

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By Andy Forman
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Andy Forman, Attorney at Law, has been in bankruptcy representation for over two decades and has lead council in over 3,000 bankruptcy cases. Forman is a member of the Florida Bar and...read more

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Video Transcript

"Well you have filed your bankruptcy and your discharge came in the mail and you wonder what can I expect after bankruptcy? My name is Andy Forman and I'm a Business and Consumer Bankruptcy Lawyer in Tampa, Florida and I help people file bankruptcy every day. What can you expect after bankruptcy? Well I'll tell you what you cannot expect. You shouldn't expect the phone to ring. You shouldn't expect collection calls. You shouldn't expect collection letters. You shouldn't be being donned by your former creditors. If someone had a civil judgment against you you won't be hearing from them. No lawsuits, no foreclosures, no contact from your creditors. What you can expect after bankruptcy is to have poor credit but there are ways to rebuild your credit and you want to take some energy and look at your credit report and make sure it is accurate. You want to make sure that you pay your bills on time because after your bankruptcy the first two years or so are very sensitive in the credit building process and if you have slow payment history or charge off activity it will take many many years to rebuild your creditors. After bankruptcy you can expect peace and quiet and peace of mind. I'm Andy Forman. Good luck rebuilding your credit and you life after bankruptcy."

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