Chapter 7 bankruptcy total flat fee starting at $1799.00
(Includes credit report, filing fees, & attorney fees)
We offer $0 down and monthly payment plans
Many people ask me if I file bankruptcy, how will bankruptcy affect my credit score? Will I ever be able to have good credit again after filing for bankruptcy? The answer is…yes!
You are already having trouble paying your debts. The longer that situation occurs, the worse your credit history and credit score gets. Before you file bankruptcy, your credit history will look bad. But, the date you file bankruptcy, you get a fresh start. Your income-to-debt ratio immediately reflects no debt!
Now there is a specific date from which your good credit is established. Each day after your bankruptcy is another day that you have shown that you are at good credit risk.
Many clients receive offers in the mail for a “low limit” credit card within a few months after their bankruptcy discharge. Some have obtained a new car loan within 1 month after bankruptcy. Others have been able to qualify for a mortgage loan after 2 years.
This is true because you can file a chapter 7 only once every 8 years, so if you have just recently come out of bankruptcy, you are once again a good credit risk as long as you have income.
Your bankruptcy can be reported on your credit history for a period of 10 years. But of course, it does not mean you must wait 10 years to ever borrow money again.
Choose wisely what credit is needed, and plan to carefully rebuild your credit. Most of our clients find that their credit score goes up significantly within a year of filing bankruptcy because they now do not owe any debt!
How to improve your credit and finances quickly after bankruptcy:
- Pay every debt you owe on time. Bankruptcy will improve your credit score quickly if all debts are paid on time!
- Examine your fixed living expenses vs. Your income and adjust accordingly!
- Open a savings account for emergency expenses and invest in it every month!
- Budget what you have available for discretionary expenses!
- Once you obtain a credit card pay it off in full immediately every time you use it!
- Do not carry any revolving debt balances, only installment debt helps you!
Robinson Law Offices P.C. can give you advice and counsel on the best way to position yourself after your bankruptcy to improve your credit score.
