Life After Bankruptcy

How Do You Know What Your Next Step Is?

Bankruptcy is very confusing. Your case is has a unique set of facts, truly there is no ‘standard case’ because each case has its own twists and turns. Usually a bankruptcy is filed when there is an emergency or event that causes financial fear. These types of situations are fraught with unanswered questions which may cause you to make harmful decisions and/or take harmful actions. When my clients trust me for their best remedy, I provide progressive step-by-step instructions.

My instructions give you the explanation of what is happening in your case and a list of your tasks for each phase of your case. We communicate and update you throughout your case by email, telephone, and U.S. Mail. You would be overwhelmed if we gave you the instructions for your entire bankruptcy on the first meeting. Instead, you receive instructions in a timely manner, in (hopefully) understandable language, and find your questions are received with an answer, usually within 24 hours.

How Do You Obtain Credit?

Credit is important in our culture and if you file a chapter 7 bankruptcy you, will often experience a bump upwards in your score. 

Credit Unions offer the perfect opportunity to rebuild credit as they require reaffirmation of their credit card debt or terminate all banking services.

We keep our ears and eyes open for opportunities for our clients. When we hear of special programs such as the one Rock Honda has, we pass that information along.

When you receive your discharge we send out next step instructions letter with tips on credit and other post discharge issues.

How Do You Buy a Car?

Instructions start with the first meeting. I want to know your goals and financial needs at the beginning of your case so we ask. Many people are burdened with high interest, high monthly payments on a vehicle worth less than the balance of the loan. If you need a car at the beginning of a case, before it is filed, and you are able to find a good loan to replace your costly or unreliable vehicle, we can assure you this is an acceptable purchase. If you file for bankruptcy relief shortly after you enter the contract, perhaps even before you have made the first payment, know that it is acceptable to reaffirm the debt so you can keep the ‘new to you’ vehicle. This option becomes part of your ‘fresh start’. Affordable, reliable transportation is often a necessity when public transportation is insufficient.

Chapter 13 cases last from 3 – 5 years, sometimes your vehicle doesn’t. The privilege of the chapter 13 protection and reorganization of your debts requires permission from the court to make a purchase during the case. Court approval is a usually granted with proper proof.

Skip Cowan, with Rock Honda in Fontana, California created a special financing program for people who have filed bankruptcy. We provide contact information and Rock Honda’s brochure to our clients who are interested. We follow the procedures and work with the Chapter 13 Trustee and the Courts for approval of the ‘new to you’ vehicle.