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Repair Your Credit after Bankruptcy

You declared bankruptcy to find relief from creditors, halt your foreclosure, and stop the credit card bills. Now what? Bankruptcy is meant to give you the means for a fresh start. You’ve started on your path to financial freedom but living in the aftermath of bankruptcy can seem overwhelming. At BCN Law Firm, we work with clients not only before and during the bankruptcy process, but after as well. We help people like you in the Clermont community figure out their next steps and get them on the road to financial recovery. Life after bankruptcy can be a rewarding experience and one that changes your outlook on financial matters for the rest of your life, but only if you take the steps to do it right.

How does bankruptcy affect my credit?

A bankruptcy can stay on your credit report for 7-10 years, depending on which chapter you filed. This time starts from when you first filed, so the whole time the case is being reviewed and processed counts towards that time. During those years, a bankruptcy can affect your ability to obtain credit, insurance, or a new job. This is not an absolute rule, though, and there are steps you can take to start rebuilding the trust the financial community has in you.

Credit is possible.

Many think that while a bankruptcy stays on their credit report, they are not eligible for credit of any kind. This isn’t true. Though there are certain time constraints and it is generally more difficult to receive credit, it is not impossible.

By taking the right steps and making responsible decisions, you may find that credit is available to you. In addition to the monetary relief it can bring to your life, responsibly utilizing a line of credit is one of the best ways to rebuild your credit history.

What are my next steps?

In the wake of a bankruptcy, you need to take stock of your situation and make smart decisions about how you will proceed. An experienced Clermont debt recovery attorney can help you formulate a plan. This can be exciting time for you. Despite what you might have heard, it doesn’t have to be a financial disaster. In fact, if handled correctly, it is completely possible to start reestablishing decent credit in as little as one year.

Give the attorneys at Boyette, Cummins & Nailos a call today at 855-LAW-2020. We’ve helped thousands of clients find their way back to financial health. We’d like to do the same for you.