Will I Ever Rebuild My Credit?

Gourley & Griffin, P.A.

Statesville, North Carolina, Bankruptcy Lawyers

Chapter 7 ◦ Chapter 13

Bankruptcy Alternatives ◦ Rebuilding Credit

Credit is a type of personal responsibility that is available to most members of our society. Used properly, credit can help you with the big things in life, like providing a home for your family. But, little problems can accumulate, and anyone can get overwhelmed.

To discuss bankruptcy laws and your current financial crisis with an experienced bankruptcy lawyer, contact Gourley & Griffin, P.A. through this Web site or by phone at 704-872-5051 or toll free 800-411-1188.

Potential clients often ask us if they will ever rebuild their credit if they file bankruptcy. In fact, federal law specifies that a bankruptcy can remain part of a debtor's credit history for 10 years. Whether or not the debtor will be granted credit in the future is unpredictable. Rebuilding credit depends more on how well a person is able to find and keep a good job, save money, and make timely payments on secured debts than on the fact that the person has filed bankruptcy in the past.

In some cases, it may actually be easier to obtain future credit after bankruptcy, because new creditors may feel that since the old obligations have been discharged, they will be first in line under the new clean slate. They may also recognize that a debtor will not be able to file bankruptcy again for the next four years (under Chapter 13) or eight years (under Chapter 7).

The truth is that if a debtor cannot pay bills, and the debtor's credit is already in a difficult situation, filing bankruptcy may actually be the first step in rebuilding credit.

Gourley & Griffin, P.A. is a debt relief agency proudly providing options to people with financial problems for over 25 years. In a large number of cases, we assist people with filing bankruptcy.

Contact us by phone or email to schedule your first of two face-to-face free consultations.