Bankruptcy and Credit Score go hand in hand for a lot of people. Often
because there is a mistaken belief that they should avoid
bankruptcy whenever possible since it has an adverse effect on their credit score.
What those people don't realize is that bankruptcy may well be the
last chance they have at getting a fresh start and actually repairing
their credit score.
A Bankruptcy and Credit Score are linked because a bankruptcy will show
up on your credit report for up to ten years. But, if you are in such
dire financial straits that you are looking at bankruptcy as a possibility
then the odds are that your credit score is already shot. Your best chance
of building your credit back up and getting out from under your creditors
is to let a
Stockbridge GA Bankruptcy Attorney get the ball rolling on your bankruptcy so you can
discharge your debt.
Even though a bankruptcy should give you a clean financial bill of health,
you still need to double check the details.
Get familiar with your credit report after bankruptcy!
Any debts that were discharged during your bankruptcy should be shown as
having no balance due. If they show as still being delinquent then it
will further hurt your credit score and take that much longer to show
improvement. If your score does not update shortly after your bankruptcy
filing is completed then you need to consult with your Conyers GA Bankruptcy
This is not as much of a problem in recent years as it used to be though.
In 2005, the three biggest credit bureaus came under fire for their lax
practices in regard to updating credit reports. Since then improvements
have been put into place to rectify the situation. If you would like to
check your credit report for errors, the three largest credit bureaus are:
To find out more about the way a bankruptcy can effect your credit report,
schedule a free consultation with one of our attorneys today! They have the expertise to answer all
of your questions regarding a bankruptcy, and ensure that it’s the
right choice for you!