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St Louis Bankruptcy Attorney: Will My Credit Be Destroyed After Filing For Bankruptcy?

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No, it will not. In fact, the opposite is more likely to happen. The St Louis bankruptcy process is described as a “fresh start / clean slate”. It is a chance to wipe the slate clean, start fresh, and rebuild. More specifically, you will have a chance to rebuild your credit score (and get it back to where you want it).

Will it happen overnight? No. But it will occur a lot sooner than you think. For instance, most people can expect to see their credit score rise by as much as 75-100 points up within the first twelve months after filing your case. That’s if you did nothing more than sit around all year on the couch. But you can of course be as aggressive as you wish in rebuilding your score. And most folks see their score get back to where you want it be within a year and a half to two years after filing.

Why will your score rise after filing bankruptcy? Shouldn’t it do just the opposite, and fall like a rock?

It may seem counter-intuitive, but if you are suffering from high levels of unsecured debt (credit cards, medical bills, payday loans, etc.), then one of the best ways to reclaim your financial health is a St Louis bankruptcy filing!!

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For instance, a St Louis Chapter 7 will completely discharge all of your unsecured debt. It will knock them out totally (as if they never existed). This means that overnight, you will have reversed your debt to income ratio, and your raw credit score will start improve immediately.

But then that is the whole point!! To put you back on your feet (so that you can move on with life, and rebuild). And the best way to understand how the entire process works is to contact us (a phone call will do, but you can also fill out an online form). We will answer all your questions, describe your full range of options, and help guide you through the world of bankruptcy from start to finish!!!

The affordable St. Louis bankruptcy attorneys at Brinkman & Alter, LLC have been saving and protecting people’s assets for years. Our goal is to make sure that you keep the assets and property you want, discharge the debts that you want to get rid of, and do it all at an affordable cost to you. All phone conversations and office consultations are free of charge.

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