We can all agree that a good credit score is handy to have. So why would you risk the score you have by filing bankruptcy?
To be frank, you risk more by doing nothing. Your credit score is already hurting or you probably wouldn’t be in the pickle you’re in, right? Look at it this way: filing bankruptcy is like putting a bandage and antibiotic on a wound. If you do nothing, that wound will get infected!
So you file bankruptcy, but what about your credit report for the next 10 years? Contrary to what a lot of people think, all is not lost. Just because a bankruptcy is on there doesn’t mean you can’t improve your credit score in the meantime. In fact, the more you do to regain a healthy credit score the less likely creditors will be to concern themselves with what happened in the past. They will be more interested in whether you are staying current with your payments and managing your credit responsibly from here on out!
In fact, keep in mind that you are a better credit risk after you file for bankruptcy. Why is that? Because after you file for bankruptcy, creditors know that you can’t file again for eight years in the case of a Chapter 7 bankruptcy and somewhat less than that in the case of a Chapter 13 bankruptcy. Instead of worrying that you will file for bankruptcy, creditors will know that you are already in the process of rebuilding your credit.
So put a bankruptcy bandage on your debt so that you can begin the healing process. Bankruptcy lawyer David Lozano is your best choice for filing bankruptcy in Southern California. Please give me a call–you’ll be happy you did!