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How Bankruptcy Affects Credit Score

Filing for bankruptcy can be an effective way of getting out from under crushing debt, but it also has long-term impacts on your credit score. Knowing how bankruptcy affects credit score is key to understanding the full scope of what filing for bankruptcy entails.

When you file for either Chapter 7 or Chapter 13 bankruptcy, it stays on your credit report for up to 10 years and can have a major impact on your credit score. It's important to understand that this impact is more severe when filing for a Chapter 7 than with a Chapter 13, which will generally help you if you're making payments as part of your plan. With a Chapter 7, all unpaid debts are discharged and all accounts close immediately, leading to a significant decrease in your credit score.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling on the number 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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