Won't Bankruptcy Hurt My Credit?

I want to talk about bankruptcy and your credit scores.

You already have a financial problem if you are reading this blog.  That means your credit score is probably already pretty low.  Or, maybe you have been really good at juggling your credit card payments but time is running out and sooner or later, you know you won’t be able to pay them all.  Your credit score may be good now, but it won’t last.
Frankly, your credit score is the least of your worries if you need to file bankruptcy.  You need to be thinking about your rent or mortgage, your car payments, your job, and your family and that lawsuit you might be facing.  Those things are much more important than your credit score.

So, does bankruptcy hurt your credit?

The answer is . . . sometimes.  Sometimes credit scores go down when people file bankruptcy.  Other times, people find their credit scores go up because they can no longer go into debt and have no past due bills.

Most people who file bankruptcy have been struggling with debt for a long time.  They are depressed just to get the mail.  They can’t answer their phones because bill collectors keep calling.  Their marriages are in trouble because of the tension their financial problems cause.

Bankruptcy may hurt your credit score, but it may also save your life.  It may free you to live without fear again and allow you to start over with a new life and no financial stress.

Please call me at (805) 446-6262 and we will talk about how to deal with your credit score in a way that helps you the most.