Life After Bankruptcy
Life After Bankruptcy
Once you get the final discharge from your court, you can finally breathe a sigh of relief and begin the fresh start that you have been given. Your court will give you a notice of the discharge and the dismissal of your case in about 4 to 6 months after the creditors meeting, if everything goes nicely. In normal bankruptcy cases, a prepared debtor who files no-asset Chapter 7s will get his/her discharge and begins to rebuild his/her live after the bankruptcy. This means rebuilding credit and altering one’s financial aptitudes and attitudes. Once you finally become debt free you should remain debt free. First of all, however, you should be prepared of possible leftovers of your bankruptcy filing that can appear after the discharge.
Even though you are not technically told to inform about your financial activities to your court, certain conditions can happen and they have the potential to resurrect your bankruptcy case or become annoying residual problems in your otherwise peaceful post-bankruptcy life. For instance, if you become eligible or receive insurance proceeds, proceeds from a divorce, or an inheritance within six months of your filing, the court need to be notified. Similarly, if you find creditors or property you forgot to include in the bankruptcy documents, you must report them officially or risk getting into a big trouble with the law. Therefore, despite your discharge, you must deal with these potential situations, including creditor that harass you continuously, a trustee who chooses to reopen your bankruptcy case, and discriminations against you because of your previous bankruptcy filing.
Both public and private employers are not allowed to discriminate against you solely due to your previous bankruptcy filing, but that does not mean you will not encounter frustrations or complications with your employment that can be easily masked as anything but blatant discrimination. While most of the work involved in the bankruptcy process is now a thing of the past and behind you, you should remain alert and focused to the goal: becoming totally free of debt and proceeding toward a better financial future.
You should always look for ways to deal with these improbable situations that you may face after you have been discharged, including unjust discrimination for which the existing legal system still leaves you unprotected. Try to live consistently in your new brighter financial life and learn how to rebuild wealth, regardless of your present income. Wealth is a lot closer than many people think, because wealth on earth is built upon positive attitudes toward money instead of on how much a person makes.
This is an Original Article written by the DefeatBankruptcy.org Staff
and may not be reprinted in any form without prior written approval.
