Your Credit After Bankruptcy
Let Birmingham Bankruptcy Lawyer Paula Greenway Stop Credit Harassment and Garnishments
Many people don't file bankruptcy because they are afraid it will ruin their credit. In reality, if you have serious debt problems, filing bankruptcy may be the fastest way to improve your credit score.
At Greenway Law, LLC, in Birmingham, Alabama, we offer a free initial consultation to discuss credit repair and determine if filing Chapter 7 bankruptcy or Chapter 13 bankruptcy is the best solution to reduce your debt and improve your credit.
Your Credit Score May Have Nowhere To Go but Up
If your credit cards are maxed out and you are facing legal actions such as repossessions, garnishment and repossessions, your credit score is already at an all-time low. You have nowhere to go but up.
While filing bankruptcy is not good for your credit, it may be your best option. When you file bankruptcy, it will remain on your credit history report for seven years. However, to many creditors, people who file bankruptcy are a good risk for two reasons:
- After you file bankruptcy, you will either be debt-free or have a manageable amount of debt.
- Once you receive a chapter 7 bankruptcy discharge, you won't be able to file again for eight years; however you can file for a chapter 13 repayment plan. To creditors, this actually makes you a better risk. It means your future debts will be collectible.
If you're like most people with debt problems, your credit score will improve 50 to 75 points after your debts have been discharged by filing bankruptcy.
Free Consultation With a Bankruptcy Lawyer
To discuss credit after bankruptcy with attorney Paula Greenway, call 205-324-4000 or fill out our simple contact form. We are located in Birmingham, Alabama, across from the downtown YMCA.
