Bankruptcy is not something to rush into, especially if there are other options available to you. However, if you have exhausted your alternatives and your creditors refuse to negotiate, you may feel you have no choice but to file for bankruptcy to find relief from your debt burden. Like many in California, you may be wondering how this step will affect your credit rating.
Any agency that extends credit will look at your credit history. While you may vow never to return to this place of financial struggle and frustration, at some point, you may want to consider buying a home or car. A good credit rating will be important, and you may hesitate now to seek the relief you need because you fear a bankruptcy can damage your credit score.