How Will Bankruptcy Impact My Credit?

This is a question many people ask when considering bankruptcy: How will bankruptcy impact my credit? It is understandable to be concerned about your credit after filing for bankruptcy. If you have been in debt for any length of time, it is important to repair and rebuild your credit score so that you can afford housing and secure credit for other important life purchases. Make sure you work with an experienced lawyer who can help you find debt relief and repair your credit.

At The Law Offices of Ronald I. Chorches in Hartford, Connecticut, we take a personalized, highly consultative approach to finding our clients the debt relief solutions they need. Rather than simply sending our clients through the Chapter 7 or Chapter 13 bankruptcy process, we take the time to listen and understand our clients’ situations. Attorney Ronald I. Chorches will help you find debt relief solutions that will work for you, walk you through the process of bankruptcy or another debt relief option and help you establish a sound approach to building your life after bankruptcy.

Repairing Your Credit Score

One common bankruptcy myth is that bankruptcy will hurt your credit score. However, the truth is, if you have been buried in debt for a significant length of time, bankruptcy is more likely to help your credit score in the long run.

In addition to stopping the compiling increase of debts on your report, bankruptcy frees you up financially to begin the steps necessary to become more attractive to potential lenders. After the initial dip in your credit score that your bankruptcy could cause, you will have the opportunity to slowly begin borrowing again. When you do this without falling behind, your credit score will be in the position to improve.

Free, Confidential Consultations

Call us to discuss your options. We are happy to help. Call 860-563-3955 or email us for a free consultation.