Loans and Credit After Bankruptcy
Are you unable to secure the credit you need? If that is the case, it is time to take action and begin actively rebuilding your credit today. Talk with one of our bankruptcy lawyers at Richard A. Schwartz, Bankruptcy Attorney, in Louisville, Kentucky, and New Albany, Indiana, about how bankruptcy can be the first step in rebuilding your credit.
How Can Bankruptcy Help Rebuild My Credit?
A common misconception that people have about filing for bankruptcy is that it will ruin their credit for years. For most people who have come to the point where credit is no longer being offered to them, the damage to their credit scores has already been done. Past due accounts and a high debt-to-income ratio have lowered your score.
After bankruptcy, credit can begin to be reestablished. Your bankruptcy will be the only negative mark on your credit following a Chapter 7 bankruptcy. Those past due accounts and high levels of debt will be wiped away. With those negative elements missing from your credit report it can begin to recover.
A Chapter 13 bankruptcy will allow you to begin taking control of your debts. Chapter 13 takes your debts and creates a three to five year repayment plan during which time the goal is to pay an affordable portion of your debts. With the successful completion of your repayment plan you will be discharged from bankruptcy. Upon discharge you will be a much more attractive candidate for credit.
Contact Us
For help finding out about life after bankruptcy, in Kentucky call 502-638-2441, in Indiana call 812-399-0959, and toll free in either at 866-270-4495 or simply contact us online to set up your free initial consultation with one of our New Albany or Louisville personal bankruptcy attorneys. Evening, weekend and in-home appointments are available for your convenience.
