One of the questions we are often asked by individuals considering bankruptcy is whether or not bankruptcy will ruin their credit score.
In all honesty, if you are considering filing for bankruptcy, it is very likely that your credit score is already very low. Missed payments, late payments, judgments and charge-offs will cause your credit score to decline.
If legal action has led to wage garnishment or liens filed on your property and bank accounts, this also has a very negative impact on your credit score.
The Positive Effects of Bankruptcy
Filing for bankruptcy will help you put an end to the decline and give you the freedom to begin rebuilding your credit and regaining your financial stability. While it is true that a bankruptcy can stay on your credit report for up to 10 years, this does not mean that it will take 10 years for you to start seeing an improvement.
Most of our clients receive offers of credit within 6 months after their bankruptcy has been discharged and many others see a marked increase in their score within 1-2 years.
Why You Should Work With Our Firm!
At The Law Offices of Daniel W. Mitnick & Associates, P.C., we take pride in our ability to provide our clients with the personalized representation that makes a difference. We have a reputation for excellence and we do what it takes to help our clients eliminate their debt. Our founder has been recognized with a BV Distinguished® Rating from Martindale-Hubbell® and both of our lead attorneys have Preeminent Client Review Ratings™.
If you want a lawyer who has the answers, and who will guide you through the bankruptcy process, you have come to the right place. Call our law offices today to find out more about how we can help you put an end to your financial troubles so that you can get back on the road to financial viability.