How Will Bankruptcy Affect Your Credit?

Helping You Use a Bankruptcy Filing to Regain Your Good Credit

If you have fallen behind on your debts, your credit score is probably already suffering. If you are considering filing bankruptcy but concerned about how it will affect your credit, you can rest assured: Bankruptcy is an important first step toward rebuilding your credit.

At the law firm of Jamie L. Gingold, PC, GingoldBankruptcyLaw.com (Formerly practicing with Gingold & Gingold LLC), our experienced bankruptcy attorneys — Ira D. Gingold, who has been a bankruptcy attorney since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, real estate and business law since 2001 — can help you understand how bankruptcy will affect your credit.

Understanding the Impact Bankruptcy Has on Your Credit Report

If you have not been able to make your debt payments on time or pay the full amount owed every month, your creditors may have already submitted negative reports to the credit reporting agencies, harming your credit score and making it harder for you to get new credit.

Filing bankruptcy, which discharges (wipes out) your debts, removes all of these negative items from your credit report and lets creditors know that you no longer owe those debts.

Once your debts are wiped out, you can take steps to restore your credit, such as making all your payments on time. The bottom line is, until you file bankruptcy, your bad credit is likely to get worse. After bankruptcy, you can rebuild your credit.

Atlanta Lawyers · Rebuild Your Credit · Free Consultation

Everyone’s case is unique, and our attorneys can advise you on your specific situation. To schedule a free consultation, contact us today at (678) 915-2634 or by e-mail to schedule a free consultation. We are accepting cases from Atlanta, Cumming, Dallas and Douglasville and surrounding areas.