Credit and Bankruptcy Lawyer Serving Durham, North Carolina, and Other Areas
A large stumbling block or hurdle in the minds of many people contemplating bankruptcy is the question of how bankruptcy will affect their credit. While this is an important question, in reality, most people who are headed toward bankruptcy already have poor credit scores or are destined to have poor credit scores as soon as they lose the ability to make timely minimum payments on credit cards and other debts.
Your creditworthiness may be in for a "roller coaster ride" as you go through the bankruptcy process. However, many people are able to obtain credit relatively quickly after filing bankruptcy. The most important thing a person can do after filing bankruptcy to reestablish their credit is to pay the bills that they do have on time (mortgage, car, utilities, etc.) every month.
If you are thinking of filing Chapter 7 or Chapter 13 bankruptcy, there are no guarantees regarding how quickly you can improve your credit score or a future lender's perception of your creditworthiness. The bankruptcy will remain on your credit record for 10 years. This does not mean that you will not be able to obtain credit for 10 years.
Your bankruptcy may even be seen as a positive rather than a negative in some cases. This is partially because creditors know that a Chapter 7 bankruptcy filer will be unable to file Chapter 7 again for eight years. Additionally, creditors may realize that by virtue of debts being discharged through bankruptcy, former creditors can no longer take legal action against you or make a claim against your assets. In changing economic times, there is no way to know for sure how this will play out in your case, but an experienced bankruptcy lawyer can help.
When a potential client contacts me seeking solutions to their debt problems, their appointments and consultations, including the free initial consultation, are with me personally. I do not delegate meeting with, or otherwise advising my clients to legal assistants or paralegals. From the beginning to the end of a Chapter 7 or Chapter 13 bankruptcy case, I am there to see my clients through to real debt relief. — Terry D. Fisher
Get the Facts and Take Action Promptly
The sooner you get real debt relief, the sooner you can begin to rebuild your credit. Contact Terry D. Fisher, an experienced bankruptcy attorney to learn more.
We are a debt relief agency. We help people file for bankruptcy relief under the United States Bankruptcy Code.
