Bankruptcy success stories: Sophie Walton
If you’re interested in learning more about what filing can do for you, give the Atlas Law Firm a call today. We’re a top twin cities bankruptcy law firm that makes its representatives available for consultations that could help you start a path to a brighter financial future.
Despite the fact that it can be a highly beneficial financial tool when used effectively, many people put off filing for bankruptcy, racking up scores of missed payments and serious credit score damage in the process. However, those who are considering a protective filing can look to past success stories to see how their life after bankruptcy may be improved with time, effort and legal assistance.
In June 2011, Sophie Walton, a paralegal with more than 20 years of experience in the real estate industry, shared her personal experience with the bankruptcy process in an article for Yahoo. In it, she detailed how she was able to use this financial tool to get out of debt and secure new loans.
According to Walton, she filed for Chapter 13 bankruptcy due to her lack of health insurance. With her medical bills piling up, she finally realized that she would never be able to meet her debt obligations, despite her best efforts to do so.
“Through my bankruptcy, I was able to reorganize my personal finances, pay back most of my debt and learn how to live without credit cards, loans or finance companies for five years,” she wrote in the piece.
Once Walton completed her five-year plan, she found that her credit score had improved. With this new credit rating as leverage, she was able to purchase a car within the first year of completing the plan, and by keeping current with her car loan payments, she was able to raise her score to the point where qualified for a mortgage.
Today, Walton helps individuals facing similar financial hardships in her day job, providing advice on how to create a bankruptcy budget, build an emergency fund and to use credit responsibly. If you're interested in learning more about what filing can do for you, give the Atlas Law Firm a call today. We're a top twin cities bankruptcy law firm that makes its representatives available for consultations that could help you start a path to a brighter financial future.