Rebuilding Credit After a Bankruptcy

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Rebuilding Your Credit Post Bankruptcy

Long Beach Bankruptcy Attorney

If you are like most Americans, you may have a negative connotation associated with the word "bankruptcy." The word can conjure up ideas of debt and credit destruction that cannot be repaired; however, this misconception could not be further from the truth. When you file for bankruptcy, you can actually enable yourself to become debt free and work toward rebuilding your credit and securing your financial future.

Many potential clients mistakenly believe that their credit will be ruined if they file for bankruptcy. The truth is that many debtors can actually benefit from filing for bankruptcy. Most debtors' credit scores are reduced by creditors for non-payment of debt or late payments on their bills. In addition, the large amounts of debt that debtors often carry depress their credit scores.

Once a client files for bankruptcy, however, he or she can become free from unsecured debt, such as credit cards and medical bills, and cannot discharge debt in a Chapter 7 bankruptcy for another eight years. Clients who have recently filed for bankruptcy are, therefore, better credit risks going forward because they have almost no other debts and cannot discharge future debts for several years. These circumstances can help you rebuild your credit more easily.

Learn How to Become Debt Free Today

When you work with Leibowitz Law Group, you can be sure that your case is being handled by experienced and dedicated professionals who have vast knowledge of the federal bankruptcy laws and California regulations governing debt. Our bankruptcy lawyers in Long Beach have more than 45 years of combined experience, and we strive to provide personalized representation to each client who retains our firm.

For more information about how we can help you become debt free and rebuild your credit score, contact Leibowitz Law Group today!