Living Life As a Credit Risk After Bankruptcy

People filing Bankruptcy are finding it easier to pay their bills, but harder to live a better life.

Once someone files Bankruptcy, they become a bigger Credit Risk.  So if you know anyone hopelessly considering Bankruptcy, they should consider the years of negative credit consequences.

Today, I was reading a story about Danielle Lancaster.  You may not know her and in fact, I just read about  her heart-breaking story in the Washington Post.   Danielle, filed Bankruptcy when her debt became twice that of  her monthly income.

Although Danielle was able to Bankruptcy,  she still owes money to her Creditors.

Danielle was not granted a ‘Clean Sweep’ of her debts.   She is on a repayment plan.

After the Bankruptcy, Danielle is also finding it hard to get a better paying job.  Not because of the Bankruptcy, but because she can’t move her family to where the better jobs are.  Danielle can’t get a Landlord to rent to her without a lot of money upfront.

In theory, Danielle would be able to rent an apartment for her family after Bankruptcy. But in real-life, Bankruptcy makes her a Credit Risk.

Fantasy Land of Bankruptcy

People talk themselves into Bankruptcy out of fear.  Bankruptcy does make the Creditors back off.  And Creditors backing off eases some of the tension bad Credit and Debt cause.  But what do people learn after they file Bankruptcy?

• They are trapped in Debt for up to 20 years (just less of it).
• Their Credit-Worthiness is worthless (people are scared to do business with them).
• They find it harder to get life back on track financially.

Why not consider the alternative to Bankruptcy?

I’ve asked this before.  Why don’t people consider their other options to filing Bankruptcy?  I think the answer is because they do the math.  They figure they can pay about $2,500, file Bankruptcy and be done with it.  I have to face the facts, Bankruptcy is a quick-fix.  Bankruptcy works when filed properly.

So, if you know someone who really has their heart on filing Bankruptcy, ask them if they’ve researched the negative consequences of filing.  Ask them are they ever going to want Credit again (maybe to start a Business)? Ask them if they are prepared to live on the wrong side of the tracks for about 10 years?  Ask them if they are prepared to live life as a Credit Risk?

Credit and Debt Help Before Bankruptcy?

Are You Really Thinking about Filing Bankruptcy?

OK, so you’re seriously considering selling out anywhere from $1,000 to $2,5000 to file Bankruptcy? Before you pick up the phone and call someone for Bankruptcy help, there are a few things to consider.

First, in 2005, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). What this Law did was strip out a lot of the protections that were granted to Debtors.

Before the new Bankruptcy Law Went into effect, respected Bankruptcy Law Professors like Harvard’s Elizabeth Warren, currently Chair of the TARP oversight Committee, feels that the new Bankruptcy law gives Creditors too much.

3 Facts of the New Bankruptcy Law of 2005:

• Debtors seeking Bankruptcy have to submit to a “Means Test”. The Means Test is designed to screen dead-beat opportunistic Bankruptcy Filers, from those who really need debt forgiveness (like those suffering from massive medical debt)
• Many filers will not be able to file for a Chapter 7 “Fresh Start” Bankruptcy. Instead, they will have to submit a repayment plan to the Court and the Creditors.
• Debtors seeking Bankruptcy have to undergo Credit Counseling and Debt Management Courses.

Those of just a few of the dozens of burdens on American Consumer seeking to file Bankruptcy.

Why Not Consider Credit Help and Debt Management Before Bankruptcy?

Think about it? Since you’ll eventually have to go through a Credit and Debt Management Course, why not learn more about the Debt Management Videos Software, before, you find yourself standing in Bankruptcy Court?

Why Not Learn How to Settle Unsecured Credit Accounts for Pennies on the Dollar Before Bankruptcy?

Why not save a bundle by ordering the Debt Warriors Arsenal? The Debt Warriors Arsenal teaches Americans how to settle their debt for themselves, for pennies on the dollar.

We’ll also show you how easy it is to get your personal finances under control with our Magic Fraction Budget Builder.

The best part is that once you call and order your Debt Warriors Arsenal, watch the videos, and use the Software, we are confident that you will learn how to budget, negotiate, settle and eliminate your debt – for yourself.

The Debt Warriors Arsenal can help you kiss the thought of Bankruptcy goodbye.

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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice, but helpful Debt Management and Personal Finance products and information. To order the Debt Warriors Arsenal, call 866-576-4996.

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