Declaring Bankruptcy Means Declaring Your Commitment to Making a Fresh Start in Life

If you've been struggling financially-getting behind on the mortgage, missing car payments, credit card bills piling up, perhaps unable to pay for medical treatments-it impacts everything. You've had to drastically change your lifestyle and cut down on spending to make ends meet. You've stopped planning for the future and may have given up on lifelong dreams, thinking you'll never have good credit again. Your self-esteem has been hit hard and you're feeling depressed, unmotivated and defeated.

Jump to the following sections:

Though it may be hard to believe right now, bankruptcy can change all that and give you your life back. Don't wait any longer-call us today at (803) 799-1700 to find out how!

Bankruptcy Is a Chance to Restore Good Credit and Faith in Yourself

In this economy, thousands of people have learned what we've known for decades-that declaring bankruptcy can be the smartest solution to financial problems and a way to make a fresh start.  Contact the Law Offices of Matthews & Megna. You can call or contact us online for your free initial evaluation. We can help you take a giant step toward a brighter future.

Making a Fresh Start

It may be hard to picture it, but by choosing to declare bankruptcy, you will be choosing a future that is simpler, less stressful and full of opportunity. Bankruptcy allows you to wipe the slate clean and begin saving money, spending wisely and restoring your good credit so you will be able to live a full life once again.

Through bankruptcy, you'll begin to rebuild your credit score so that you can take out a home improvement loan or line of equity in order to renovate. You could get a new car, purchase that living room furniture you want or revisit those lifelong plans to travel. If you've never been a homeowner before, you may even be able to buy your first house. Ironic as it might sound, declaring bankruptcy can be your ticket to financial security, not to mention a smarter, more fulfilling and less stressful lifestyle.

Take the first step toward a fresh start. Contact our law firm today.

Return to Top

Protecting Your Credit Score

Having a good credit score allows you to obtain credit cards, car loans, rental leases, home mortgages, home improvement equity loans and other lines of credit. When you declare bankruptcy, you will take mandatory debtor education and credit counseling classes, which are part of the bankruptcy process. There you will learn smart money management practices, including the importance of having a good credit score. Establishing and sustaining a good credit rating requires several fundamental credit management skills and habits, including:

  • Understand and monitor your credit score by checking with all three of the major credit bureaus: Equifax, Transunion and Experian;
  • If you find errors, such as a late credit card payment that you can prove you made on time, call the bank or credit union and dispute it;
  • Only have one personal credit card and pay, at the very least, the minimum payment or, if at all possible, the full balance every month;
  • Examine every credit card bill to make sure you're staying within your budget;
  • Always pay credit card bills on time, as late payments will reduce your credit score;
  • Ignore all credit card promotions in order to avoid mounting credit card debt;
  • Understand and avoid all risks of identity theft, which can harm your credit score;
  • Above all else, make a budget and stick to it. This will help you stay on top of credit card payments, which is the best way to sustain a healthy credit score.

A credit score is a number between 300 and 850, the result of statistical analysis of a person's credit history and his or her consistency in paying bills. While banks and lenders consider a credit score over 750 good, the average is between 600 and 700. Anyone can obtain a free copy of their full credit report-which lists all credit cards and loans, past and present, along with current credit score-from AnnualCreditReport.com. Our attorneys can discuss the importance of your credit score with you and explain how filing for bankruptcy could actually improve your financial future. Learn more. Contact us today.

Return to Top

Planning For The Future

More than 1 million Americans file for Chapter 7 or Chapter 13 bankruptcy every year. Each one of them has something in common: that first, important step towards making a fresh start for the future. Bankruptcy allowed them to restructure or eliminate debt, prevent foreclosure and avoid losing their cars and other valuable possessions.

When you choose one of these solutions, you can begin rebuilding a good credit score because you'll have the skills to budget wisely, pay bills on time and understand how to avoid out of control credit card charges in the future. You can look forward to qualifying for loans to make home improvements, buy a house or purchase a new car-things you couldn't do before when your credit score was too low. If you're a renter, you can have rental agreements approved by landlords who may have rejected them in the past.

Best of all, you can start saving for important priorities, such as a down payment on a home, dream vacations, kids' college tuition or retirement. Since bankruptcy makes creditors stop calling and collection agencies cease sending threatening letters, your day-to-day life will be free of the harassment that's been such a humiliating part of financial hardship. Instead, you can start living your life with dignity and without fear of being hounded by creditors. Your future looks bright, and we can help!

Return to Top

Bankruptcy & The Bible

"And when they had nothing with which to repay, he freely forgave them both."   Luke 7:42a (NKJV)

United States bankruptcy law, which is based on principles found throughout the Bible, contemplates the forgiveness of debt and helps overburdened debtors by allowing them to make a fresh start economically. God's law provided that the borrower/slave would keep property - a "supply from your flock" - so that the borrower/slave would not be forced to enslave themselves again just to survive. For the same reason, modern bankruptcy law allows debtors to keep certain property when they declare bankruptcy. This gives debtors a fresh start and discourages them from entering debt again after the bankruptcy.

Our examination of the Bible shows that, when based upon real need, filing for bankruptcy is not a sin. It is often the only effective means to deliver a debtor from the slavery of overwhelming debt and to break the cycle of borrowing. Just as Jesus, by His love and mercy, gave us a new beginning and a rebirth, choosing to declare bankruptcy can provide you with a brighter outlook and a better, wiser future.

"Every seven years we will let our fields rest, and we will cancel all debts."   Nehemiah 10:31b (CEV)

Under U.S. law, a debtor may only receive a discharge of debts in a Chapter 7 bankruptcy once every eight years; under Biblical law, the release of debts came at the end of seven years.

Some people feel guilty about seeking to file for bankruptcy protection because certain creditors may not be paid what is owed to them. To be sure, Scripture makes it clear that people are generally expected to pay their debts and we know that Christians work hard to do so. However, in cases where there is no other way out of from under overwhelming debt, we are free to make the right choice to provide for our future and our children's future.

Many of our clients who file for bankruptcy are people of faith who came to understand that part of being a child of God is knowing that at some point in our lives, each and every one of us must seek His forgiveness. We at Matthews & Megna are happy to discuss any of these important issues with you. We hope that if you are struggling to reconcile financial hardship with spiritual truth, that you will contact us today.

Return to Top