Will Chapter 7 Bankruptcy Lower My Credit Score?

If you are considering filing for Chapter 7 bankruptcy, you may be wondering if it will have an impact on your credit score. The short answer is that it will likely lower your score, but the long-term effects are not as bad as you might think.

When you file for bankruptcy, the court will assign a trustee to oversee your case. The trustee will review your assets and debts and determine which debts can be discharged. Once the bankruptcy is complete, the court will issue a discharge order that absolves you of responsibility for those debts.

Your credit report will reflect the bankruptcy for up to 10 years, but that does not mean your score will be low for that entire time. In fact, many people see their scores start to rebound within a few years of completing their bankruptcy.

The Law Offices of Omar Zambrano has aready 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 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706