What About My Credit Report After Bankruptcy?

Rebuild Credit After Arizona Bankruptcy

One reason many people hesitate to file bankruptcy is their concern about the impact it will have on their credit. It is certainly true that bankruptcy puts a negative mark on your credit report for a period of time. However, in most cases, this is a small price to pay for reducing or eliminating your debts. At the Arizona Bankruptcy Center, we are dedicated to helping individuals and businesses take control of their finances and start rebuilding their credit reports after bankruptcy.

Getting Credit Immediately After Filing

Many people are under the misconception that filing bankruptcy means you cannot get any credit. This is simply not the case. It may cost more to get credit, but it will still be available. When you compare the higher interest rates you will pay after bankruptcy with the amount of money you will save by discharging your debts, chances are good that you will come out on top by taking the bankruptcy route.

Clearing Unpaid Debts Off Your Record

In some situations, people's credit scores actually go up after they file bankruptcy. If you have defaulted on a debt or worked out a debt settlement with a lender, that will appear as a negative mark on your credit report, and potential lenders will be able to see that you still owe money. Bankruptcy, though it is a negative mark on your credit report, also means that you no longer owe money to other creditors.

Contact Our Attorneys for a Free Consultation

If you have questions or are ready for a fresh financial start, contact our lawyers by calling us toll free at 602-GOT-DEBT. You can also submit a question or arrange a free consultation by e-mailing us directly from our website.