What You Should Know About Bankruptcy And Your Credit Score

A Chapter 7 or Chapter 13 bankruptcy will allow you to discharge your debt obligations or pay them back in a repayment plan over time. Of course, any bankruptcy will be listed on your credit report and could be seen if you want to buy a car or apply for a home loan. Often, people who are considering bankruptcy are concerned about what impact it will have on their credit.

Fortunately, filing for bankruptcy does not mean you will never be able to get credit in the future. At the Law Offices of Brian A. Barboza, we can explain the impact of bankruptcy on your credit report, talk with you about improving your credit score and tell you about other steps you can take for a fresh financial start. The first step is to find out if bankruptcy is the right move in your circumstances.

Learn How Your Credit Will Be Impacted After Bankruptcy In Santa Rosa

Many people who are thinking about bankruptcy are already dealing with late payments, missed payments and defaults on their credit reports — which are also viewed negatively by sources of credit. It can often be beneficial for your credit to wipe the slate clean, even if it means having a bankruptcy on your record.

You can repair that credit over time by starting a savings account, setting up automatic contributions, paying off credit balances every month and regularly monitoring your credit report. Many people who have filed for bankruptcy see credit card offers only weeks after the process is over, and it may be possible to get car loans, home loans and other lines of credit after a short period of time.

Find Out More About Repairing Your Credit After A Bankruptcy

For more information regarding credit after a bankruptcy, please contact lawyer Brian Barboza at the Law Offices of Brian A. Barboza in Santa Rosa, California.

Call us at 707-304-5251 to learn more.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.