Car Insurance and Bankruptcy

by DeLadurantey Law Office, LLC on September 23, 2010

Bankruptcy can provide relief for those struggling with a large amount of debt. Those who are successfully granted bankruptcy have the opportunity to come out of their dire financial situation standing on two feet. Being financially responsible after bankruptcy is a vital part of building up a credit score and eventually having a comfortable financial situation.

Expenses After Bankruptcy

One of the things that people sometimes forget to budget for during bankruptcy is purchasing car insurance. One important benefit of most bankruptcy filings is the ability to keep your primary vehicle. Being able to keep your car will help you get to work and take care of your family.

However, following a bankruptcy filing, some insurance providers will raise your premiums. Insurance companies may consider those involved in bankruptcy to be irresponsible with their money, and therefore possibly reckless in other aspects of their life. Unfairly high premiums may be assigned to those coming out of bankruptcy. An experienced bankruptcy attorney can help you plan for life after bankruptcy and understand which premium increases are legitimate.

The Milwaukee bankruptcy attorneys at the DeLadurantey Law Office, LLC understand that difficult financial times do not necessarily end after being granted bankruptcy. Contact us today at 414-377-0518 to learn how we can help you.

 

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