Some people can't fathom a life after bankruptcy. The way bankruptcy is portrayed, you would think that the filing is the end of a person's world, and that they will spend the rest of their life trying to overcome an insurmountable obstacle. It is as if the bankruptcy becomes a permanent fixture in their life, one that can never truly be fixed.
But this portrayal is completely wrong. A bankruptcy can be a very beneficial move for people that are in debt and struggling to get out of it. And while there may be some difficult times in the short-term after a bankruptcy filing, the point of a Chapter 7 or Chapter 13 filing is to get you back on track for the long-term. Your future is worth it.
With all of this in mind, what do we mean when we talk about "life after bankruptcy?" Well, the first thing to realize is that there will be a hit to your credit score after you file. But this can be fixed through hard work and financial responsibility over the years -- and most people that file for bankruptcy have already seen their credit slide into a bad place anyway. You should also avoid any credit deals that will start to come your way, as creditors are well aware of your bankruptcy filing.
Additionally, don't forget the amazing benefits of bankruptcy. A Chapter 7 filing eliminates most of your debts, while a Chapter 13 filing allows you to reorganize your debts into a more manageable repayment plan.