Bankruptcy is nothing to be ashamed of, but some people find the process humbling and hard to talk about. Most people who have filed for bankruptcy will also acknowledge that it lifted a great weight off their shoulders. They are so thankful to have financial breathing room and to be free from the constant harassment of creditors.

One of the top fears about bankruptcy is that it will ruin your credit score and prevent you from getting a mortgage, a car loan or credit cards for many years to come. From my 40 years of experience as a bankruptcy attorney, I can tell you the reality is:

Bankruptcy will have a negative effect in the short term on your credit rating and your ability to borrow.
Over time, bankruptcy actually enables you to establish good credit by paying your bills on time and in full.
A Chapter 7 bankruptcy stays on your record for 10 years, but it will not haunt you as much as people think. Most people are soon eligible to borrow again, at reasonable rates, through new credit cards, car loans and even home loans within a few years after bankruptcy.
The farther you get from the date of bankruptcy, the less it will matter to lenders, credit reporting agencies or anyone else.

Life After Bankruptcy and Credit Cards After Bankruptcy

I believe that the benefits of bankruptcy outweigh any downsides. I view bankruptcy as an opportunity for a fresh financial start and a path to better credit.

If you have high debt ratios, late payments, skipped payments and maxed-out credit cards, your credit score is already very low. I am an experienced bankruptcy lawyer in Loveland, Colorado, who has helped thousands of people achieve debt relief and peace of mind through bankruptcy.

Call me at 970-667-2101or e-mail me to arrange your free consultation, including evening appointments.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.