Impact Of Bankruptcy
The Phoenix bankruptcy lawyers at Want A Fresh Start understand that filing for bankruptcy in Arizona is a choice few take lightly, and for good reason. The impact and consequences of bankruptcy can be very real and extend to multiple areas of your life. So if you are filing for bankruptcy, what should you expect? What will some of the most significant consequences be, and how can you best deal with those?
POSSIBLE TROUBLE GETTING LOANS
Your credit upon filing for bankruptcy in Arizona is weakened at the outset. This corrects over time, completely resolving by the 10-year mark, but initially, it can cause some issues. For this reason, qualifying for a loan is generally quite difficult immediately following filing for bankruptcy. That is not to say every loan will be off limits. Low dollar amount or high-interest loans typically remain within reach in the months and years directly following bankruptcy.
Performing a cost-benefit analysis on bankruptcy can be difficult on your own. If you have questions or would like help determining if bankruptcy is right for you, contact us today to speak with a bankruptcy lawyer in Phoenix, AZ.