subject: Can I Get Back Into Debt During Or After Bankruptcy? [print this page] Incurring more debt during or after your bankruptcy can be a dangerous move if you aren't being cautious. For many, it is a one-way ticket back into debt. However, there may be some situations that make it the right move. So, what precautions should you take if you want to incur more debt?
Throughout the duration of your Chapter 13, you must get court permission to sell anything or get into any more debt. As previously addressed in the discussion on Chapter 13 rules, this rule is solely designed to help you. The court doesn't do this to be a big brother but to simply make sure that you can handle any additional debt you take on. Because a Chapter 13 takes a few years, this issue can be common and the court understand that life happens; they just want to help you make all the right moves.
From the point of your discharge on, it is your task to set limits for yourself. While a St. Louis bankruptcy attorney can get you to your fresh start, the ability to make the most of it is up to you. This points is critical if you wish to stay out of financial hot water. Incurring debt right after your discharge is dangerous. Before you know it, you could need a solution to credit card debt, protection from foreclosure, and relief from your creditors all over again.
And if you are looking to file bankruptcy again, you may be surprised at your limited options. How will you avoid wage garnishments, harassing creditor calls, and repossession if bankruptcy isn't an option?
Bankruptcy shouldn't be used as an excuse to get back into debt. It should be used as a jumping off point to success and living the life you truly want to live. To accomplish that, you have to be as responsible as possible. Take advantage of any free information your St. Louis bankruptcy attorney has to offer about getting back on your feet after bankruptcy. It may help you realize the importance of your fresh start and use it to its fullest potential.
As you can see, there are a lot of things to know about bankruptcy. Thinking there may be other benefits you didn't know bankruptcy could provide? Find information from great lawyers around you for free. While many attorneys offer a free consultation, the best attorneys will offer you free articles, blogs, bankruptcy FAQ, and even publications before you set foot in an office.
