Will bankruptcy affect my credit? This is one of the main concerns from those who are considering bankruptcy. Even though the main purpose of the bankruptcy is to relieve you from the financial hardship you have endured, bankruptcy can impact your credit history for many years. However, keep in mind that not resolving your debt will also have a drastic and long-lasting negative effect on your credit.
Filing for bankruptcy will be reflected on your credit score for as long as 7 to 10 years.
You can take immediate step to begin restoring your creditworthiness after a Chapter 7 or Chapter 13 bankruptcy. Making regular debt payments or getting a secured credit card are simple methods that could improve your credit after the discharge. The sooner you get started on good credit habits, the sooner the impact will show on your report.
If you credit will be affected by filing a bankruptcy start taking steps to rebuild your financial life today. Call now to speak with a Kissimmee bankruptcy lawyer.
Federal Law requires that we inform you of the following: “We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”
WILL BANKRUPTCY AFFECT MY CREDIT?