Life After Bankruptcy

Can I Own Anything After Bankruptcy?

In short, yes, you absolutely can. Many people believe they cannot own anything for a period of time after filing for Bankruptcy. This is just not true. Life does go on after bankruptcy.

You will have any property that was exempted from your Bankruptcy. In addition to anything you obtain after the Bankruptcy is filed. You still have the ability to purchase and even finance property after a bankruptcy. Be aware that you may be charged a higher financing percentage after filing for bankruptcy for a period of time.  However, that will start to go away as time passes after your bankruptcy discharge.

However, if you receive an inheritance, a property settlement, or life insurance benefits within 180 days after your bankruptcy; that money or property may have to be paid to your creditors if the property or money is not exempt. If you receive any settlements or lump sums of money shortly after filing bankruptcy or receiving a discharge you should inform your bankruptcy lawyer immediately. This could have serious financial ramifications.

Also, be aware that you can’t be refused service from public utility company becasue of a bankruptcy. Nor, can your service be turned off because you filed for bankruptcy.

Legal Representation for Bankruptcy

If you are thinking about filing for bankruptcy, or have questions about bankruptcy, please call to speak to an experienced bankruptcy attorney at Hurst & Hurst Law at (859) 209-2101.