bruce magness attorney at law 

Will Bankruptcy Affect My Credit?

Yes. But will it make your credit worse? That is the question.  There is no one answer to this question. Unfortunately, if you are behind on your bills, you credit may already be bad. Under such circumstances, Bankruptcy may not make things any worse. The fact that you’ve filed a bankruptcy can appear on your credit records for ten years. But since bankruptcy wipes out your old debts, you are likely to be in a better position to pay your current bills, and you may be able to get new credit. However, some credit vendors actively solicit business from persons with recent bankruptcies because they know that the law forbids another filing for 6 years. Your credit rating during and after filing of either a Chapter 7 or Chapter 13 will be, as it is now and was in the past, the personal opinion of any creditor grantor who looks at your credit record.

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