Rothschild & Ausbrooks, PLLC
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Look for the light at the end of your financial tunnel

Tennessee is not immune to the sometimes widely fluctuating ebb and flow of local and global economies. If you've recently made your way through some pretty rough financial waters, you are definitely not alone in the struggle. In fact, Chapter 7 is often the means individuals choose for obtaining immediate debt relief when serious financial crises hit.  

As you come off the end of a bankruptcy situation, however, you might be a bit worried about your future. If you take some time to talk with someone who has debt relief experience, you can learn more about how to rebuild financial stability. A past financial crisis need not keep you from moving forward to a stronger financial future.  

Key factors to keep in mind 

You may feel overwhelmed when thinking about starting over from the ground up. The following information may be useful as you create a plan to get things back on track in the wake of bankruptcy: 

  • There's never a bad time to develop good spending habits. Especially if poor spending habits are part of what led to your initial financial problems, you'll want to keep close tabs on your expenditures and cut back on financial waste. 
  • A bankruptcy shows on your credit report for seven to 10 years, depending on whether you filed Chapter 7 or Chapter 13.
  • Regular review of your credit report after discharge of your debts can help ensure that all information on your report is correct. You wouldn't want a paid debt to still show as delinquent! 
  • Obtaining a secured line of credit is a great way to rebuild your credit score and regain financial independence. A card issuer agrees to provide anywhere from $200-$500 credit, which may increase as time goes on and you make timely payments to satisfy the balance every month. 
  • You might also consider taking out a small personal loan to help increase your credit score. Of course, raising your score hinges upon staying caught up with your payments.  

Achieving financial stability after bankruptcy is challenging. It can be quite stressful, especially if you run into legal obstacles related to your debt relief situation. You may also learn that not all your debts were dischargeable, in which case you'll likely continue making payments toward those debts as you try your best to lay the groundwork for a better financial future. The good news is that there are many financial and legal support resources available to assist you. 

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Rothschild & Ausbrooks, PLLC
1222 16th Avenue South, Suite 12
Nashville, TN 37212

Toll Free: 866-656-8909
Phone: 615-866-2265
Fax: 615-242-2003
Nashville Bankruptcy Office