| In our current economy, there is a lot of talk | | | | other avenues to secure these services. If you |
| about how your personal finances can permeate | | | | find yourself in this position, you can expect two |
| into your personal and professional lives. When | | | | distinct possibilities, paying larger deposits if you |
| you file bankruptcy, it is well known that your | | | | are allowed to contract for these services or |
| credit report will be severely impacted and that | | | | having to prepay for the services. Many |
| negative information will last for years. Although | | | | companies will require you to pay for the services |
| you might hit a roadblock in terms of borrowing in | | | | before you receive them via these larger deposits |
| the immediate aftermath of your bankruptcy, | | | | or limits on your service like prepaid cell phone |
| your life will not wait. | | | | plans. |
| One of the most fundamental needs a person can | | | | Employment is a crucial aspect of anyone's |
| have is housing and after bankruptcy or | | | | livelihood and is especially important to discuss in |
| foreclosure is housing. Many companies or | | | | terms of seeking post bankruptcy employment. |
| landlords from whom you may wish to rent will | | | | Potential employers will often conduct credit |
| conduct background checks that will include a | | | | checks especially if the position entails handling |
| criminal and financial check. If you've filed for | | | | money or other valuables. The best solution to |
| bankruptcy, especially if it was relatively recent in | | | | this is to just be aware of the possibility and be |
| the last 2 or 3 years, you might have difficulty | | | | certain when applying for jobs. |
| getting someone to rent to you. One way around | | | | A final major area to expect to be drastically |
| this is to rent with individual landlords who are | | | | affected after bankruptcy is clearly the ability to |
| more likely to have the latitude to account for | | | | be issued credit either as loans, mortgages or |
| your individual story once they meet with your | | | | credit cards. Anyone who does extend credit to |
| personally. Apartments managed by a company | | | | you will likely impose very high interest rates and |
| are more likely to impose their set standards and | | | | severe terms. Be cautious when attempting to |
| not rent to you or be unwilling to consider your | | | | borrow by borrowing conservatively and being |
| personal circumstances. Lastly, when looking for | | | | sure to account for the interest rates when you |
| your first rental post-bankruptcy, air on the side | | | | consider repayment. With credit cards, a new |
| of fiscal conservativeness and look for a very | | | | product has recently entered the market in the |
| affordable unit to start. Once you build a strong | | | | form of prepaid credit cards. Although these |
| post-bankruptcy rental history, it will likely over | | | | prepaid credit cards have "Mastercard" or "Visa" |
| time open more options for you with future | | | | on them, they are not credit cards and are not |
| landlords. | | | | subject to credit checks or reports to a credit |
| Another area that can be affected by filing | | | | bureau. Furthermore, since they are nothing more |
| bankruptcy are services that many take for | | | | than a debit card, if they're lost or stolen you are |
| granted including insurance, cell phones, and home | | | | subject to actual cash losses and they are harder |
| data information including cable, phone and | | | | to dispute. The issuers of prepaid cards also |
| internet. Many of these service providers require | | | | generally impose more strict rules regarding lost |
| credit checks before they begin to offer services | | | | or stolen cards including a requirement to report it |
| and if your history is unsatisfactory based on | | | | within 48 hours or you'll begin to bear the burden |
| their standards, you may find yourself seeking | | | | of the monetary loss. |