What Bankruptcy Really Means for your Financial Future
All of this negative publicity about bankruptcy and mortgages, and youíre probably thinking to yourself, ďThereís no way Iím ever going to declare bankruptcy!Ē
All of this negative publicity about bankruptcy and mortgages, and youíre probably thinking to yourself, ďThereís no way Iím ever going to declare bankruptcy!Ē Whilst this is a great attitude to have, it is important to know that much of what you know about bankruptcy and mortgages is wrong. This comes as great news to those of you who have or currently are bankrupt, so spend some time checking out what bankruptcy really means for your financial future.
Before taking a look at the reality of bankruptcy with relation to your financial future, itís good to check out the myths that have been circulating for many years, compliments of mainstream lenders, most mortgage brokers and the media. Hereís just a few of the myths:
Sure, bankruptcy isnít a great thing to have to experience. After all, a bankruptcy will always be on your credit file, so it can be a painful reminder of a very difficult time in your life. This said however, each of the four points listed above are myths. Hereís why:
Bankruptcy isnít the End!
If you are or have been bankrupt, it isnít the end! In fact, far from it! Even a traumatic event like bankruptcy can be seen as an opportunity. This is how it should always be viewed. It is an opportunity to work with a financial expert who can provide you with the guidance you need to enjoy a financially independent future. To get back on the path to a good financial standing, seek out a reputable specialist today!
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ABOUT THE AUTHOR
Julian Thornton is a Melbourne, Australia-based mortgage and debt analyst specialist. Julian specializes in the field of bad credit mortgages and personal money management coaching.