Job loss, divorce, a medical emergency, or the government shutdown can make it hard to keep on top of debt. Millions of people have used US Bankruptcy laws to get a fresh start.
Everyday people just like you decide to file for bankruptcy. With the economy, bankruptcy doesn’t hold that old stigma it may have a decade ago. Most of us are struggling with debt and many of us have lost jobs due to the eventful economy. Bankruptcy has helped millions of Americans get out of debt. It also stops creditor harassment through the bankruptcy automatic stay.
If you’re thinking about filing bankruptcy, you’re probably wondering how it affects credit. It’s true that bankruptcy stays on your credit reports for up to 10 years, but once the slate is essentially clean after a successfully bankruptcy filing, people can instantly start rebuilding their credit. In fact, many people even gain stronger credit scores after filing and their old debt is gone and they can start a fresh start. Think about it, your credit probably isn’t that great to begin with. Bankruptcy is designed to clear debt and give people a fresh start.
Call our office today for your free consultation to discuss your individual situation. We have offices in Eastgate, Middletown, and Fairfield to serve you.