Bankruptcy Affects Credit Score

Answer:

Almost always a client will ask me what a bankruptcy will do to their credit. The short answer is that it’s going to hurt your credit, but most people who are in the consideration stage of bankruptcy already have impaired credit. What I tell my clients is that, on a scale of one to ten, your finances are level ten and your credit is probably at level two in terms of what’s important. The reason is simply this – ultimately your credit will follow your finances. When a person straightens out their financial picture, the credit problem solves itself.

I’ve been representing bankruptcy clients for about 30 years now throughout Florida and the Clearwater area. I provide free consultations in which I carefully look at my client’s finances and consider whether to file bankruptcy and what chapter to file under. I’m happy to help.