Life after Bankruptcy: Tips on How to Recover from Debt Overload

When your financial troubles force you to file for bankruptcy protection, you might have difficulty believing that you will ever recover. However, with a positive attitude, determination and family support you could be on the road to recovery sooner than you think.

A change in your spending habits is an important step in your economic recovery process.  Not only is it necessary to rebuild your credit but it can steer you away from repeating the same behaviors that led you into bankruptcy.  Although the bankruptcy rules allow you to file more than once, the rules impose time limits on re-filing depending on the type of bankruptcy.

  • If you wish to file under Chapter 7, typically, you have to wait eight years after you filed a previous bankruptcy before you can file again.
  • If you plan to file under Chapter 13, the usual waiting period is six years after you filed a previous bankruptcy.

Once the court grants you a discharge from your debts, use it as a financial fresh start to avoid the necessity of re-filling, if you can. An experienced Jacksonville bankruptcy attorney can help you decide the best course for you to eliminate your debt.

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