Get Answers from the Denver Bankruptcy Lawyers at Wink & Wink
The decision to file for bankruptcy can be an essential solution and even a source of relief when you’ve been struggling with insurmountable debt. However, many who have filed for bankruptcy wonder whether they will ever truly have a clean slate because of their prior credit history.
At Wink & Wink, we’ve found that our clients have many causes for concern when filing for bankruptcy. This is, of course, entirely understandable. Fortunately, we also know that many of these fears can be alleviated once a client has walked through the process with a knowledgeable, empathetic bankruptcy lawyer.
Committed to serving the Denver area, we appreciate the opportunity to educate our clients about the range of possibilities available to them about the bankruptcy process, starting with a free initial consultation. There is a good life – and good credit – to look forward to after bankruptcy, if you have the right guidance.
In fact, because bankruptcy removes your bad debt, it is possible to achieve a good-to- excellent credit score within 24 months, or even be eligible for a home mortgage two to three years after filing for bankruptcy. Here’s how to get started.
Rebuilding Credit and Chapter 13: How Filing for Bankruptcy Can Offer a Promising Change
The fear that you may not be able to rebuild credit is especially present among those who file for Chapter 13 Bankruptcy. Because this type of bankruptcy settlement includes a three- to five-year payment process on certain debts, clients wonder how long it will take to rebuild credit while they are making these payments. It can be particularly frustrating to be making payments, but not see credit changes right away.
Wink and Wink, Leading Denver Bankruptcy Lawyers, Offer Their Perspective
Here’s how we see it:
1) The Chapter 13 payments you make on your debts over the course of the next few years can help you develop excellent credit-building habits and practices.
Building healthy credit habits is the key to long-term success and a powerful financial future down the road. Wink & Wink, experienced bankruptcy attorneys in Denver, can advise you as you begin to make these payments, setting you up for a lifetime of success.
This ability to pay down debt through the provisions laid out in Chapter 13 Bankruptcy law gives you a prime opportunity to empower yourself financially. Our team of Denver bankruptcy lawyers has seen many clients embrace this knowledge and begin to carve out a path for themselves that is far different than the difficult and sometimes uncontrollable choices they had to make in the past.
2) You can also open a credit-building card or loan and develop a consistent on-time payment history.
Michael and Gailyn Wink, bankruptcy lawyers in Denver, highly-recommend opening a credit-building card or loan and use it within your budget based on incoming funds – for instance, from a paycheck.
This way, you can immediately move a modest amount of money from a paycheck to pay these credit card or loan bills on time and even earlier than expected. These actions done in tandem with the Chapter 13 debt you’re already paying off creates a powerful routine. Good credit habits begin to form, and a measurable change in your credit score will occur soon after. You don’t want to wait on rebuilding credit after Chapter 13 Bankruptcy, and this is a simple way to start moving in the right direction.
What Kind of Credit Can I Get After a Bankruptcy Lawyer Helps Me File for Bankruptcy?
Credit cards, vehicle loans, and even a home mortgage can be obtained after Chapter 13 Bankruptcy. This is a testament to the fact that the law wants to see you get back on your feet. When you file for bankruptcy, you can make payments on these kinds of credit and loans.
You also can have your name added to a family member’s credit card and make payments there. If you’re unable to get certain loans, you can also ask a family member – or even a close friend – to cosign the loan, giving you that needed boost to start working on a higher credit score.
Wink & Wink, a Team of Denver Bankruptcy Lawyers, Are Here to Empower Our Clients
We view our legal guidance and representation as a way to support and encourage our clients to make decisions that will benefit them in the long-run. Bankruptcy attorneys exist to provide relief for clients during the bankruptcy process, which – without them – might feel like a penalty rather than a fresh start.
Wink & Wink’s goal at our bankruptcy attorney office in Denver is to relieve our clients of the burdens of debt and bad credit – including the feelings of shame associated with bankruptcy – and empower them through this legal process.
We have seen many clients transform their decisions of the past into better futures for themselves and their families, and it all began with a free consultation and a willingness to act by filing for bankruptcy.
Take care of your financial future with a free consultation from Wink & Wink, your Denver bankruptcy attorneys. Call us at (303) 410-1720 or send us a message online to let us know how we can help find a debt solution that will work for you.