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Rebuilding Your Credit After Bankruptcy

Facing financial struggle can be uniquely challenging, and may leave you feeling like there is no solution. Often, people who are unable to pay their debt may not consider bankruptcy. A common misconception about bankruptcy is that it will permanently ruin your credit. In reality, filing for bankruptcy allows you to manage immediate debt problems while also protecting your financial future. If you are concerned about how bankruptcy will impact your credit, read the information below. Then, discuss your legal options with an experienced bankruptcy attorney in your area.

Impact of Bankruptcy on Your Credit

Filing for bankruptcy will affect your credit. By filing for bankruptcy, you are stating that you are unable to pay your current debt. This will impact creditors’ decisions to lend to you in the future. It is important to note that bankruptcy alone will not permanently ruin your credit. You will need to take proactive steps to rebuild your credit over time; however, your credit can recover.

Generally, your bankruptcy case will remain on your credit score for a certain number of years, depending on the type of bankruptcy. If you file under Chapter 7, it will stay on your credit report for 10 years. Chapter 13 bankruptcy will remain on your credit report for 7 years. Creditors will use that information when determining your eligibility and interest rates for future loans.

How Can I Rebuild My Credit?

It is important to keep focused on your financial future before, during, and after the bankruptcy process. You will need to strategize about your next financial steps. Depending on your case, you may still have some debts to pay after your case has ended. Whether you are paying off student loans, credit cards, or just a utility bill, it is essential to make every payment on time. This is one of the most important steps you can take to rebuild your credit.

It will take time to rebuild your credit after bankruptcy, but an improved credit score can be achieved with some financial common sense. In addition to making payments on time, you should also carefully evaluate any future loans. Even if you qualify for a loan after bankruptcy, consider avoiding additional debt if possible. Making a budget and financial goals list can help you stay focused on repairing your credit. You may want to consider undergoing financial counseling or debt education, if you have not recently done so. Finally, be sure to closely monitor your credit report over the next few years. This will help you make any necessary adjustments in your financial planning.

Contact Experienced Bankruptcy Lawyers in Hayward

At the Law Offices of Melanie Tavare, our goal is to help each and every client move forward with their financial future. We fully understand the financial stresses you have experienced, and we know you have concerns about filing for bankruptcy. We will help you create debt solutions for today and for your future. Our attorneys will work closely with you, tailoring their advice to your unique financial needs. We approach each case with a combination of legal experience and focus on our client’s goals. You do not have to deal with financial troubles alone. Contact our Hayward office today by calling 510-255-4646 to schedule a free consultation with a reputable bankruptcy attorney.

The Law Offices of Melanie Tavare are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.


"Melanie is the best she very responsive and helpful throughout the process everything was taken care of smoothly. If you are thinking of going through bankruptcy she is the best attorney for you. I will forever be grateful having the chance to work with her. She is very honest too."


"I can't thank Melanie enough for helping me through a challenging process and doing so with incredible knowledge, professionalism and tenacity! She went to great lengths to keep me informed, she responded quickly to my questions, and communicated in terms that I could understand. I highly recommend getting in touch with Melanie should you have the need."


"Choosing to work with Atty. Melanie has been one of the best decisions I've ever made. She was a very patient professional to work with and attentive while providing valuable solutions to all of my concerns. If you are searching for of an Attorney who is knowledgeable, transparent, and diligent - well that's Atty. Melanie."


"What I liked about working with Melanie was how prompt and easy to work with she was. She made the process clear and understandable with as little stress as possible. I would work with her again and recommend her to others."