How Will Bankruptcy Affect My Credit?
Bankruptcy is a legal process that helps people who can't pay their debts get a fresh start. The process can be complicated and it takes time to complete.
If you're considering bankruptcy, you're probably wondering how it will affect your credit. The answer isn't simple because there are different types of bankruptcy and different ways to rebuild your credit after bankruptcy.
Here's a look at how bankruptcy will affect your credit, both in the short term and the long term:
In the short term, filing for bankruptcy will have a negative impact on your credit score. This is because bankruptcy stays on your credit report for seven to 10 years. During that time, it will be difficult to get new lines of credit.
However, you can start rebuilding your credit right away by getting a secured credit card or becoming an authorized user on someone else's credit card.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of the debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706