Bankruptcy and Credit

Will Filing Bankruptcy Hurt My Credit and Credit Score?

Many people are reluctant to file bankruptcy because they think it will damage their credit. In reality, if you have serious debt problems, your credit score may already be at an all-time low. In many situations, filing bankruptcy is the fastest way to address your debt problems and improve your credit.

Michele Garfinkel offers a free initial consultation to answer your questions about filing bankruptcy and fixing your credit.

What Happens to My Credit After Bankruptcy?

If you file bankruptcy, the bankruptcy will stay on your credit report for up to 10 years. However, two years after filing bankruptcy, your credit may improve dramatically. If you do not file for bankruptcy, debt problems will continue to affect your credit score.

After bankruptcy, we help all of our clients get a free copy of their credit report. Filing bankruptcy gives you a fresh financial start. Once debts are discharged, the only thing that can be show on your credit report is that the debt has a $0 balance and has been discharged. If a creditor shows a past discharged debt as past due, the creditor is in violation of federal laws. A lawsuit can then be filed for damages against the creditor.

Michele Garfinkel will counsel you on ways to improve your credit after filing bankruptcy. One of those ways may be to get a secured credit care. A secured credit card is backed by cash deposits. If you make payments on the secured card on a timely basis, the bank will later convert it into a regular, unsecured credit card.

Free Consultation

Contact Michele Garfinkel for a no-cost evaluation of your debt and credit problems.