What Will My Credit Look Like After Bankruptcy?
Burnsville, MN Bankruptcy Lawyers
What Will My Credit Look Like After I File Bankruptcy?
Immediately after you file bankruptcy, your creditors can no longer call you, and any collection efforts in place against you must cease. While there are several benefits to filing bankruptcy in the short term, many people are concerned about the negative effect bankruptcy can have on their credit long term.
Our special software can give you an estimate of your credit rating 12 months after filing bankrputcy. This service has ben very helpful to several of our past clients as they were reassured that their financial situation truly will be better after filing for bankruptcy. bankruptcy makes your credit cards, healthcare costs and other unsecured debt much easier to manage. More importantly, most people see an increase in their cerfit scores after bankruptcy.
If you are concerned about how your credit will be effected by bankruptcy, take advantage of a free consultation with the experienced bankruptcy lawyers at Wendling Law Office. We can meet with you in St. Paul or in our main office Burnsville.
Will I Be Able To Get Credit Cards or a Mortgage After I File Bankruptcy?
Most people see credit card offers in their mailbox within a few months of their bankruptcy discharge. The market for mortgages is difficult to predict, but many people who have filed bankruptcy, even in conjunction with a home foreclosure, have qualified for a new mortgage in as little as two years.
Can Bankruptcy Make Your Credit Score Higher?
In a word, yes. In fact, a great majority of people see their credit score rise within a year after filing bankruptcy, in some cases, even less. The fact is, if you're considering bankruptcy, your credit score has probably already been affected by your current debt. Late payments, low available credit and other negative marks on your credit card will continue to lower your credit score without the relief of dissolving or re-structuring that debt through bankruptcy.
From our office in Burnsville, the experienced bankruptcy lawyers at Wendling Law Office can help you start to work towards a better credit score by filing for bankruptcy. After you file for bankruptcy you will still receive some credit card offers and many people are able to secure a 30 year mortgage after as little as two years of having a bankruptcy discharged.