| Succeeding after personal bankruptcy can be | | | | a loan, you often need a cosigner such as a |
| difficult, so how can you succeed after? No | | | | parent. While in some cases you are still allowed |
| matter if you filed for Chapter 7 or Chapter 13, | | | | to buy homes and cars, it's important not to get |
| no matter if you faced foreclosure or thousands | | | | in over your head again. |
| in medical bills, this guide defines how you can live | | | | Keeping Jobs |
| life normally after bankruptcy. | | | | The best way to live life after bankruptcy is to |
| Chapter 7 | | | | have a steady income. Say you are married and |
| Chapter 7 bankruptcy is very different from | | | | have one child; you filed because you lost your |
| Chapter 13. You are typically discharged of all | | | | job. You of course will be looking for new work, |
| debts in a matter of month. If you filed this, you | | | | but be sure it can keep you away from having to |
| rarely lose assets but it's possible. In some cases, | | | | file again. This is also very important with Chapter |
| you may have filed to eliminate debt such as | | | | 13, as you have to stay current on your bills as |
| medical and credit card. It may be difficult to get | | | | part of the debt management plan. Getting and |
| loans right after filing. You may face a new series | | | | keeping a job should be a priority. |
| of bills. The key is to stay on top of your current | | | | Current on Bank Account |
| bills, as you cannot file again for some time. | | | | You should maintain your bank account balance, |
| Chapter 13 | | | | being very frugal. You should always pay off |
| Chapter 13 actually takes 3-5 years, much longer | | | | credit card charges the same month so you don't |
| than Chapter 7.This is preferable for home | | | | pay expensive interest rates. This may sound |
| owners who fear foreclosure. For Georgia | | | | obvious--keep money and pay off bills--but many |
| residents, foreclosures are a reality, being some | | | | get in over their heads right after filing. In order |
| of the highest rates int the country. However, | | | | to rebuild your credit, no bill should be late, all |
| thousands of Georgia home owners are | | | | credit card charges should be paid immediately, |
| successfully filing Chapter 13 to save their homes. | | | | and you should not make too many large |
| Since Chapter 13 takes much longer, as long as | | | | purchases. |
| you stay current on your mortgage and other | | | | Get Comfortable |
| bills, living life after should be easier. | | | | It's been said bankruptcy is the most difficult |
| Getting Loans | | | | economic crisis for Georgia residents. Bankruptcies |
| If you want a loan after filing, you may run into | | | | are still on the rise even though job creation is |
| some trouble. After all, depending on what you | | | | going up, notably in Georgia. However, you are |
| filed for, you just consolidated or discharged your | | | | getting a fresh start. This is not the end of the |
| debts. That may hurt your credit; bankruptcy | | | | world. And you can avoid the mistakes you made |
| stays on your credit report for 10 years. To get | | | | before. |
