Dezenberg & Smith, Attorneys At Law - Bankruptcy

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3 Things You Need to Know About Filing for Bankruptcy

Filing for bankruptcy is an important decision, but is it right for you?

Facing debt can be emotionally draining and quite difficult to deal with. You might feel overwhelmed, frustrated, or even scared when you consider how much debt you owe. Unfortunately, many adults face incredible amounts of debt and feel that there is no way out. Whether you’re dealing with medical debt, tax debt, or even credit card debt, it’s important to understand that you do have options. Debt doesn’t have to define you, nor should it. In some cases, you may wonder if filing for bankruptcy is the right option. Bankruptcy offers a number of benefits that can help you move forward with your life, but it’s not right for each person. Make sure you consider the pros and cons before you decide to file for bankruptcy. If you’re ready for a fresh start, here are three important things you need to know.

1. Bankruptcy can offer you a fresh start

When you’re facing insurmountable debt, you may feel like there is no way out of the financial hole that you’re in. You may feel stressed, anxious, or worried. You might lose sleep or even friendships when dealing with your debt. When it comes to your future, it’s important to stay focused on ways you can grow and improve your life. In some cases, bankruptcy may offer you a fresh start. As soon as you file for bankruptcy, you will be free from dealing with lenders and collection agencies calling you. While dealing with life after bankruptcy can be complicated, being able to move forward from large amounts of medical debt can be an incredible experience. Keep in mind that most of the time, bankruptcy happens due to unfortunate circumstances and financial hardships, rather than uncontrolled spending.

2. Not every debt is eligible

Although you may be in debt due to medical problems, losing your job, or unexpected tax expenses, keep in mind that not every debt will disappear when you file for bankruptcy. In some cases, you will still be required to pay specific debts. For example, student loans will typically need to be repaid. If paying your student loans is a serious problem, you do have other options, however. You can contact your lender and talk with them about lower monthly payments or even loan forgiveness options. If you pay child support to a former spouse, keep in mind that those payments will generally continue, as well.

3. You can rebuild your credit

Don’t make the mistake of believing that there’s no hope after you file for bankruptcy. The reality is that you can still obtain a credit card after you file for bankruptcy; however, rebuilding your credit is something you will need to consciously work toward. Rebuilding your credit can be time consuming after you file for bankruptcy, however, with careful planning and proper guidance from your bankruptcy attorney, you’ll be able to recover financially and move forward to live the life you want. It’s a good idea to start by obtaining a small credit card with a conservative spending limit. This can help you slowly start to improve your credit score after bankruptcy.

Are you ready to get started? Call your bankruptcy attorney today.


“Mr. Dezenberg is very professional and friendly. My husband and I didn’t feel rushed. He explained the process in detail, and he made us feel really comfortable.” – Leticia

“Mr. Dezenberg was the nicest and most helpful lawyer I’ve ever met.” – Melissa

“several other attorneys that I asked, who don’t practice this type of law, recommended him.” – AJ

“John has represented me on more than 1 occasion and with excellent results.” – Donna W.

“Not only is he very competent, but he is always responsive and he really cares about his clients.” – Phil G.

“John is one of the best bankruptcy attorneys in North Alabama.” – Eric Artrip

“I never felt rushed at my appointments. I would highly recommend him to anyone who needs a bankruptcy attorney.” – Lisa

“His vast experience of the law makes him a powerful advocate for his clients.” – Thomas Jarvinen

“He was very open and honest and to the point. I would recommend him any day of the week.” – Tina

“He was very professional, not once did he talk down to me nor made me feel bad about myself.” – Gloria L.

“Brandon gave me the legal advice I needed. He is very knowledgeable and answered every question I asked him.” – Celeste

“I would recommend Brandon Smith to anyone that needed a great Bankruptcy Lawyer.” – John W.

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