Live Chat
During This Challenging Time

We are open for business and remain dedicated to your case! All those working on-site and remotely are still available to answer your questions. The well-being of our clients and staff are vital, so we will provide updates as the situation progresses.

During This Challenging Time Close

Life After Bankruptcy

March 11, 2014

Many people consider “bankruptcy” a bad word, and while it is true that it will have an initial negative affect on your credit, for many people it can improve their financial situation over the long term. Many people who consider filing for bankruptcy have found themselves in a situation where they are not able to continue to pay all their debts and still cover the normal expenses. This can mean that many bills have gone unpaid or have been paid late, and the debtors credit score has started to plummet.

The goal of a consumer bankruptcy case is to allow debtors to receive a discharge, which is a permanent injunction that prevents creditors for collecting on their debt. This discharge eliminates much of the debtor’s debt and the only negative reporting the debtor will receive is the bankruptcy filing itself.

While a bankruptcy can be reported on a credit report for up to 10 years, with much of the debt discharged the debt to income ratio will improve, helping repair a debtor’s credit. In many cases a debtor’s overall credit may even be better then where it was just prior to filing in as short of a year of filing.

Many debtors mistakenly think that it will be many years before they can purchase a home or refinance an existing home. In reality, many debtors become eligible in as little as one year.

A debtor can rebuild their credit after a bankruptcy, by maintaining or taking out one or two small secured credit cards and routinely using them and paying them off. Also, payments to reaffirmed debt like a car and mortgage made on time will also help improve the debtors credit score.

The attorneys at Fears | Nachawati will review your credit situation and can help you decide if filing for bankruptcy is right for you. In addition to offering a free consultation they will also provide you with a credit report that provides your credit score. For more information call today 1.866.705.7584 or send an email to


Use the form below to send us a note, call us at 214.890.0711 or chat with us live. We are eager to help with your legal needs. Please keep in mind that any unsolicited information sent through our website cannot be treated as confidential. Contacting us through this site does not create a representation relationship with Fears Nachawati.

Contact Us


With offices across Texas, and attorneys licensed in Texas, Florida, Arkansas, New Mexico, California, Illinois, District of Columbia, Missouri and Oklahoma, Fears Nachawati is dedicated to attaining the best possible solutions for our clients’ business and personal needs. We strive to be professionals who are creative, empathetic and reliable.

All Areas Served

We Can Help

Contact Fears Nachawati today

Free Consultation

Live Chat (Online Now)