Are you ready to rebuild and have a 700+ credit score?
Helping our clients restore their credit once their bankruptcy case is completed is an important priority at Woodruff Law offices. Many of our Chapter 7 and Chapter 13 clients qualify for market rate home mortgages and car loans within two years after discharge as long as they have been responsible with their credit post filing of the bankruptcy. We can show you how to build and protect your credit from the ground up.
Will bankruptcy ruin my credit forever?
One of the best-kept secrets about bankruptcy is the positive effect it has on credit for people who seek relief responsibly under Chapter 7 or Chapter 13 debt relief.
When you think about it, this makes sense. People who belong in bankruptcy are most often those whose credit literally cannot be any worse. Filing for bankruptcy gets them out from under a lot of unsecured and secured debt, and they can’t get another discharge for eight years (Chapter 7). Lenders know this and look at people who file for bankruptcy through a fresh lens. These factors alone improve their creditworthiness; therefore, their credit score.
Contact one of our experienced bankruptcy attorneys at Woodruff Law offices in Marietta, Georgia to learn the truth about your ability to rebuild good credit after bankruptcy. In fact, many of our clients get credit card offers within a few weeks of the bankruptcy filing. We can show you how to build on these opportunities by concentrating on achieving a good credit score.
Helping you recover and manage credit is part of our job
Access to credit is essential to fully participate in American society. As bankruptcy lawyers, we think it’s just as important to help you repair and recover your credit, as it is to get relief from your debts. As a result, we make sure that each of the credit reporting agencies has current and accurate information about your bankruptcy discharge and each discharged debt. Then we help you check a few months later to make sure that no discharged debts appear on your credit reports.
We encourage our clients to get a small credit card account, use it wisely, and pay it off in full each month. Your credit score will improve significantly over time. Just a few months after your discharge, you should be able to get a car loan at an acceptable interest rate. Within a year or two, you should be able to qualify for a car loan at a more favorable market rate. Within two years, you should be able to buy a house at an acceptable rate of interest.
Steps to consider in re-establishing your credit:
- Ask a friend or family member to have you named as a co-maker on their credit card. This is an excellent way to start rebuilding credit immediately while not actually going into debt.
- Set a reasonable goal to save a little money each week. In six months, you should have a down payment for a secured credit card of your own. By using the card and paying it off each month, you are establishing a good payment history.
- Monitor your credit rating with the three major credit-reporting bureaus, Trans Union, Experian, and Equifax. You are entitled to receive one free credit report each year from these agencies.
- Set up an account with CreditKarma.com. It’s free and will help you monitor your credit.
We help our clients understand the bankruptcy process as a credit restoration tool
Because you only get one discharge in eight years in a Chapter 7 bankrtupcy case, it’s important to make the most of the opportunity that bankruptcy can present for repairing your credit. To learn how we support our clients in this effort, contact one of our lawyers at Woodruff Law offices in Marietta.
We are a debt relief agency. We help people file for bankruptcy relief under the Federal Bankruptcy Code.
Schedule a Free Consumer Bankruptcy Consultation
Call us at 770-565-7924 or fill out our online contact form to schedule a free consultation with one of our attorneys.