Can I Pay Back My Debts After Bankruptcy?

31 Mar Can I Pay Back My Debts After Bankruptcy?

Nobody wants to file for bankruptcy, but sometimes it’s the best thing. Your finances are a mess, the rent is past due and the car is out of gas – so you do what you need to do.

Let’s face it – you’re not proud of filing for bankruptcy. You want to pay back the credit cards. But you wonder:

Can I Pay Back My Debts After Bankruptcy?

Of course you can. In fact, after bankruptcy many people choose to voluntarily pay back their bills. But when you file for bankruptcy and obtain a discharge, your personal liability for repayment ceases forever.

What does that mean? Simple – nobody can force you to pay back a discharged debt, but they’re free to accept payment if you offer it.

Does this help your credit report? No, but it may make you feel better.

And for people who think that bankruptcy is the worst thing in the world, it makes them realize that it’s nothing more than a way of taking care of yourself and your family until such time as you can take care of everyone else.

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Jay S. Fleischman is a bankruptcy lawyer with offices in Los Angeles and New York. He can often be found on Google+ and Twitter, where he shares information about consumer protection issues and personal finance.
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