Repairing Your Credit After Filing For Bankruptcy
Your Credit Score and Bankruptcy Filing…
After reviewing your finances with a bankruptcy attorney, filing a bankruptcy is often your quickest and most efficient way to repairing or often improving your credit score.
Debtors May Be Able To Re-establish Their Credit Shortly After Filing…
It has been our experience that debtors are usually able to obtain some sort of credit usually within 2-3 years from filing. By keeping your credit limit low and making sure you’re only purchasing what you can afford, while making timely payments, will help repair and begin to re-establish your credit score.
A bankruptcy filing may actually improve your credit score. Once discharge is granted, you no longer have any bad debt in your name. This will free your income to apply to regular monthly living expenses, such as mortgage or car payments. Consistent installment payments are often the quickest way to improving your credit score. The alternative to not filing bankruptcy, may take years to repair your credit by repaying your debts.
KNOW YOUR OPTIONS…KNOW YOUR RIGHTS!
The Swenson Bankruptcy Law Firm will help answer any of your credit score questions. Attorney Mart Swenson and his staff have over 35 years of experience practicing bankruptcy law in Eau Claire. The experience and relationships he has built over the years will help you understand all your options and move towards the best possible outcome.
The links below provide additional information regarding bankruptcy:
- Consumer Information – Debt Collection: Federal Trade Commission
- Wisconsin Consumer Act – Wisconsin Department of Financial Institutions
- Avoiding Foreclosure – HUD
- Credit Counseling and Debtor Education Information – U.S. Trustee Program
- Student Loan Forgiveness – StudentAid.ed.gov
- Consumer Financial Protection Bureau
- Wisconsin’s New Automobile Repossession Law – State Bar of Wisconsin
- Repossession and Your Rights – Avvo.com
- Federal Poverty Guidelines – Wisconsin Department of Health Services
- Facing Foreclosure? – Federal Trade Commission