What will I need to work on after bankruptcy?
Posted on Monday, January 20th, 2014 at 11:24 pm
While a person’s credit score will drop initially after bankruptcy, in some cases the drop is not as drastic as you may think. Check out our videos on this subject for more details.
The advantage of filing is that there are realistic ways to rebuild your credit afterward — and with no debt, or lowered debt, you are in a better position to do so. Although bankruptcy can stay on your credit report for up to 10 years, with smart choices, many people will be eligible for a mortgage again before that time. In addition, most individuals can secure credit cards and car loans immediately after discharge, albeit with higher interest rates. After your bankruptcy is finalized, your attorney will give you some tips on rebuilding your credit and dealing with credit reporting agencies.
