LIFE AFTER BANKRUPTCY

Bankruptcy and Credit

Perhaps the biggest concern for many who are considering bankruptcy relief is what impact it will have on their credit score. Certainly bankruptcy does have negative impact on your credit score. For those individuals who always pay on time, the hit to their credit score will be greater. However, many people find that their credit score has already suffered because of late payments and high credit balances. For these individuals they can take that one time hit to their score and then focus on rebuilding their score.

Start Rebuilding Your Credit Today!

If you continue to miss payments and carry high balances on your credit cards the longer it will take for you to rebuild your credit. If you have unmanageable credit card debt, medical bills or worried about a deficiency judgment on a home or vehicle you may want to consider if filing for bankruptcy is the right option for you. After filing for bankruptcy, you can begin the process of rebuilding your credit and putting your debt behind.

Keep in mind that over a million people file for bankruptcy each year and these same people are able to re-establish their credit and eventually qualify for a vehicle or home loan.

For more information about getting a fresh financial start contact the Sutterfield Law Firm today at 916.760.2400.