Are you tired of feeling like your paycheck disappears before you can even use it? Whether you are currently facing overwhelming debt or have already received your bankruptcy discharge, do you have a proven plan to ensure you never face a financial crisis again?
At Clark & Washington, we believe that bankruptcy is only the first step. To truly find freedom, you need the tools to manage your money with confidence. Credit counseling isn’t just a legal requirement, it is your blueprint for a stable, prosperous future.
Once your debt has been removed and you are ready to rebuild your credit, there are a few things that you need to do in order to maintain a solid financial future.
First, you need to evaluate the things that you need to improve so that you will not have to go through this strenuous process a second time. While credit is a key component of our economy, it is meant to be used responsibly as a tool of assistance for those who manage their spending properly. Developing a plan to manage your spending habits will help you manage your finances in the future.
While bankruptcy does help in eliminating and reorganizing your debt, it still may be difficult to obtain a loan or additional lines of credit. We believe that during this period of time you are able to adopt the “live on cash” mentality which will also assist in rebuilding your credit. This time will also allow you to modify your lifestyle and adjust your spending habits. While you may not be able to live lavish, you will be able to regain control over your financial life.
Credit counseling can help you do understand several things about your money and how to manage it better.
Credit counseling can help you work toward a brighter future in several ways by showing you how to make a plan for your financial situation and guide you to your financial goals. This can go far beyond just managing a bankruptcy or other financial crisis. Credit counseling can show you how to achieve several financial goals, like how to;
These are only some examples of how credit counseling can help you to free yourself of burdensome debt loads and put money in the bank towards your dreams and future goals.
More information about credit counseling is available through our firm. If you and your family are suffering from too much debt, money mismanagement, and you do not know where to turn for help, contact our Atlanta law firm and ask about how you can get credit counseling to assist you with your financial challenges. It may be the best phone call you make today, for you, for your family and for your future.
A major concern of individuals when considering bankruptcy is the affect that it will have on their credit. Wondering if the bankruptcy will reflect negatively on their credit history, many fear that they will not be eligible to receive a loan after bankruptcy in Atlanta is filed. Fortunately, not all creditors perceive bankruptcy in the same light. There are creditors who offer loans to individuals post-bankruptcy. While these loans may have smaller limits and higher interest rates, they assist in credit rebuilding.
Often times, people are surprised to learn that their credit score has not been severely damaged by bankruptcy. While continuous default on payments will reflect negatively on your overall financial health, those who experience an overwhelming amount of debt already have a substantial negative credit history.
Bankruptcy is used to reduce or put an end to your debt while removing your negative credit reputation. Once you have filed with an Atlanta bankruptcy lawyer, your credit is wiped of previous high balance and delinquent accounts which opens the door to rebuilding your credit. After you have completed the filing process, your credit score will be monitored and compared to other bankruptcy filers for an equitable comparison. Scores have been improved after filing due to the score being calculated with consideration of recent eliminations of debt.
The best technique to rebuild your financial future is to assess your income, expenses and previous spending habits. It is best to make adjustments to your financial lifestyle, such as create a budget, track your spending and monitor bill due dates, so that you can become financial stable. Once you have adopted these simple practices, apply for a manageable line of credit to begin reestablishing your credit history. Once you have established new lines of credit, it is critical to keep a low balance and may consistent payments. Being consistent in your payment history will show creditors you are reliable, and improve your chances of receiving credit in the future.
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