I wanted to address a common misconception regarding bankruptcy and its impact on credit scores. Many clients believe that a bankruptcy filing will ruin their credit for the 7 to 10 years it remains on their credit report. However, I would like to assure you that this is simply not the case.
In fact, for individuals who need to file for bankruptcy and have a low credit score prior to filing, they often actually experience an improvement in their credit score after the filing. This is because the bankruptcy stops any further negative reporting from delinquent accounts.
However, it is important to note that improving your credit score further after bankruptcy will require some effort. It will involve implementing responsible financial habits, such as making timely payments, keeping credit utilization low, and gradually rebuilding your credit history.
If you are considering bankruptcy and have concerns about your credit, I would be more than happy to provide guidance. Please feel free to reach out to one of our bankruptcy attorneys at your convenience. You can contact us through ravosalaw.com, or call us at 508-655-3013.
Ravosa Law Offices, PC 