Rebuilding Your Credit After Bankruptcy
Many individuals, while deciding if bankruptcy is right for them, hesitate because they are worried that filing will ruin their credit. While a bankruptcy might have a negative effect on your overall credit rating, the damage is already being done by late payments and collection efforts. If those reports continue then your credit will never recover.
At the office of Howard T. Duncan, Attorney at Law, we have advised clients on the benefits of filing for bankruptcy since 1979. The most important thing to remember is that your credit rating is already suffering based on nonpayment of debts, the late payments and missed payments. Filing for bankruptcy is a way to get out from under all of your debt and get a fresh start. In many ways, bankruptcy resets your credit rating. It is up to you to rebuild your credit score.
Rebuilding your credit can take several years, but many individuals take the lessons learned in the past, and use that knowledge to their benefit. By working through creating a stellar history with a secured credit card, many people soon find themselves moving from secured credit to unsecured credit. We can have a more detailed discussion of how to rebuild your credit after bankruptcy through a free consultation at our Omaha, Nebraska, office.
What's Worse?
The first question we get from potential clients in an initial consultation is this: Is bad credit worse than having a bankruptcy on my history? The answer, simply, is yes. Bad credit generated by late or missed payments to creditors can show up on your history forever. By federal law, a bankruptcy cannot show up on your history for more than 10 years. Bankruptcy works to discharge debts and give Americans a clean slate. Our lawyers can help you decide if filing for bankruptcy is the best solution for your situation.
Contact Us
If you have questions regarding how filing for bankruptcy can help your financial situation, contact Howard T. Duncan, Attorney at Law. We can be reached by phone at 402-216-0313, toll free at 877-237-0128 or online by completing the contact form on this website.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
