Saving Your Credit Through Bankruptcy

Bankruptcy can save your credit. This may go against the myths you have heard about bankruptcy, but it is true.

The fact that you filed for bankruptcy can stay on your credit report for up to 10 years, but that doesn't mean your credit score suffers. Many people come to me with credit scores in the 500s. Once they have gone through bankruptcy, the credit scores of many of them go up because they have cleared the very things that were keeping their scores low: Consistently late payments, unpaid bills, substantial debt.

Bankruptcy On Your Credit Score: What Does It Mean?

Having bankruptcy on your credit score can prevent you from getting certain loans — such as a home mortgage — for a few years. Yet, lenders are reasonable and if they see an improvement in credit, you will not need to wait the entire 10 years to get a loan. Most likely, you will qualify for a home loan much quicker than you would if you chose not to file for bankruptcy.

Learn The Facts In A Free Consultation

There are many bankruptcy myths out there (including myths about credit after bankruptcy) that keep people from filing until they are grasping for air. Do not wait until you face home foreclosure or car repossession to contact a lawyer. If you have experienced significant financial burdens, take action now. I am Sam Pennington, a bankruptcy attorney with offices in Orlando and Tavares, Florida. I want to help you get through this storm and find a better tomorrow — a tomorrow with fewer financial worries and better credit.

Call 407-278-7776 or 352-508-8277 or send me an email to schedule a no-cost consultation. I offer evening and weekend appointments upon request.

Pennington Law Firm, PA, is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.