People often shy away from gaining a fresh start financially thinking a bankruptcy will destroy their credit score. In reality, if you are overwhelmed with debts, you already have a low credit score that will affect your ability to borrow money from lenders. Consumer bankruptcy is an important step to consider in helping you repair your credit.
I am Columbus bankruptcy lawyer Graham D. Guthrie with more than 18 years of experience helping consumers gain a fresh start through becoming debt free. I am committed to helping you navigate through the bankruptcy process, while addressing any of your concerns about your credit score. Contact my law firm online or call 866-974-0232 to schedule a free 30-minute consultation. I will evaluate your situation to help you determine if filing for bankruptcy is the right solution for you.
Consider Filing for Bankruptcy to Repair Your Credit
A credit score is determined by more than 100 factors, including the number of unsecured debts you have, timely payments and any judgments on your record. If you file for consumer bankruptcy, this is just one of several factors that will be used to determine your bankruptcy score.
Filing for Chapter 7 or Chapter 13 bankruptcy is a valuable way to eliminate negative factors on your credit score. Overtime, creditors will recognize this and your credit score will start improving. If you qualify for Chapter 7 or Chapter 13 bankruptcy, you will benefit from establishing a repayment plan or discharging your assets. This will allow you to have the financial flexibility to start making timely payments for your secured debts. At the same time, any judgments against you will be eliminated from your record. The fresh start you gain from filing for consumer bankruptcy will help your credit score to begin to bounce back.
Ohio Bankruptcy Attorney Addresses Your Credit Score Concerns
I know this is an overwhelming time for you. The last thing you need is to be left in the dark. At the Guthrie Law Office, LLC, I am committed to addressing your financial concerns so you are left with no surprises. If you qualify for Chapter 7 bankruptcy, this will affect your credit rating for 10 years, while Chapter 13 bankruptcy stays on credit reports for eight years.
However, filing for consumer bankruptcy will not destroy your credit, since it would account only for a percentage of your total credit score. This is an important step to help you gain a fresh start and credibility with creditors. I recommend for clients to start a savings plan. Overtime, this will show lenders that you can be trusted to qualify for credit cards and being making payments in a timely manner.
Contact a Skilled Ohio Repair Credit Law Firm
If you are interested in gaining a fresh start, contact my law firm online or call 614-454-3195 or toll-free at 866-974-0232 to learn how filing for bankruptcy can ultimately improve your credit score. I am available to meet with you at three convenient locations in the Columbus area, including Dublin, Columbus and Worthington.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.