Submitted by Jeff Bursell on
When I was a young kid, every Christmas, Coke would put out a commercial where people would all gather and sing a song of happiness and togetherness. That is the image I always have when potential clients ask me if bankruptcy is the end of the world. They will ask if they will have good credit again, if they can buy a new car, or if they can buy a new home. I know they struggle believing that they will get their credit back very quickly and that will open the door to them having a better, less stressful life. I cannot sing, but if I can give my clients a fresh start and a happier life by helping them through bankruptcy, then that is something to be happy about.
Interestingly, the one notable theme I hear from clients who get through bankruptcy is that they should have done it sooner. Take this testimonial from one of my clients:
“Now that a bit of time has passed since my Chapter 7 discharge, I wanted to reach out to thank you. I am grateful and appreciative for all your professional help and guidance as I went through the scary, unknown bankruptcy process. I have some regrets that I need to let go of about not doing it sooner. I spent years bargaining with myself. Trying to think of ways, anyway, crazy ways to avoid the inevitable. I wasted so much time. Energy. Sleepless nights. Stressful days. And so many money-making deals to try to make things work. So much wasted money in hindsight. It became so overwhelming and all-consuming. The constant phone calls from creditors every day, all day. I was sick with stress and anxiety from it all! Since filing, I have found peace. True peace. And a new beginning. I can breathe again. I can think again and plan again without all the FEAR. In 2 months, my credit score improved by 100 points! I had a Poor credit rating and now have Fair or Average. It continues to improve monthly with the help and guidance of the credit repair program you included. I thank you again for your part in giving me back hope, and for your help with a new start and new beginning for a brighter future. I am truly grateful.”
This is but one example of the misconception of the consequences of bankruptcy. The contrarian view would be that there should be more consequences; however, what purpose would that have? To continually punish people when they are already down? Not the American way.
Finally, credit scores. As the testimonial stated, credit scores skyrocket after a bankruptcy. It is not unusual for a debtor’s credit score to be around 675 one month after discharging their debt in bankruptcy. Let that sink in a bit – 675. A 675-credit score is considered “Good” and puts them in the top 67% of the credit scores in our country and that is only 1 month after receiving a discharge. Most of my clients can obtain a credit score in the 700s with just a bit of credit repair (which we offer as part of working with us through www.720creditscore.com).
The bottom line is simple – if you or someone you know is faced with a daunting credit problem, bankruptcy can put an end to the madness and give them a fresh start in life. All that is needed is to take that large, first step to achieve a brighter future.
