Credit After Bankruptcy
Bankruptcy isn't the end of the world - it's the beginning of a fresh start
It is true that Bankruptcy will stay on your credit report for several years, but there are simple ways you can re-build your credit and qualify for normal rates and even a mortgage in as little as a year or two.
Will bankruptcy ruin my credit?
By the time most clients consider filing for bankruptcy, their credit score is already in rough shape. A bankruptcy filing is typically no more damaging to your credit than the circumstances that led to the bankruptcy. So don't worry, get your fresh start today!
Can I get new credit after bankruptcy?
Many people worry that after a bankruptcy they will be ineligible for loans or credit cards for seven years or even ten years. The rumors are not true, and these fears are unfounded; many people who file bankruptcy are eligible for new credit right away!
More resources
None of these resources should be construed as legal advise and we take no responsibility for their content, but some clients have reported that they have found the following sites very useful:
Credit Repair: How to Help Yourself
(Federal Trade Commission May 18, 2009) "The fact is there's no quick fix for creditworthiness. You can improve your credit report legitimately, but it takes time, ..."
Declaring Bankruptcy Can Improve Your Credit Score
"The decision of whether to file for bankruptcy protection is not an easy one. Among the numerous concerns is the worry that your credit rating will be so damaged that..."
4 ways to re-establish credit after bankruptcy
"Most responsible consumers who go through bankruptcy hope to borrow money again at reasonable rates. It can be done. Here's how:..."