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Will filing bankruptcy ruin my credit for 7 years?

Press the reset button on your credit and get the Fresh Start you deserve!

Don't believe the hype about how bankruptcy will ruin your your credit for seven to ten years. In many cases, bankruptcy can actually help you repair damaged credit. Let us show you how.

Bad credit can cost you more than the ability to get a loan or a credit card. Many employers and landlords consider credit scores when hiring and leasing. A low score can also seriously affect the price you pay for car, homeowners, life & health insurance. Drivers with poor credit pay twice as much -- 91 percent more on average -- than those with excellent credit scores, according to Those with average credit pay 24 percent more.

Avoid so-called "credit repair" companies that claim they will remove negative information from your credit report. They have no more power to remove that information than you do. If your credit has been seriously damaged by late payments, collections and/or judgments, your best option for repairing your credit may be filing for bankruptcy.

Any local law firm can file your bankruptcy, We go the extra mile and focus on your Complete Financial Recovery!

Bankruptcy is no longer the stigmatizing force it once was. A report from the Federal Reserve Bank of Philadelphia, using data from credit bureau Equifax, showed that those who filed for Chapter 7 bankruptcy in 2010 had an average credit score of 538, but that average score jumped to 620 within six to eight months.

The FHA allows for applicants to qualify for a home loan after filing for chapter 7 bankruptcy 24 months after the discharge of debt, as long as the applicant has worked to re-establish their credit. 

What if you could have a 720 credit score in 12-24 months after your bankruptcy discharge or confirmation? It's possible.

We recently contracted with  to help our clients rebuild their lives after bankruptcy.

Click below for two of their success stories:

As many as 1 in 5 credit reports have post-discharge errors that damage credit scores. To further assist with your complete financial recovery, we offer a free consultation 90 days after your bankruptcy discharge to review your credit report, track your progress, advise you how to improve your score and help fix any errors. If certain violations appear on your report we will sue on your behalf under the Federal Fair Credit Reporting Act and possibly recover damages for you of $1000 or more!

The consultation is free, you have nothing to lose but your debt.

Bankruptcy may eliminate the debts that created your bad credit score in the first place. While the bankruptcy remains in your credit file for ten years, lenders know you won't be able to receive another discharge of your debts for eight years. Also, after bankruptcy a lighter debt burden makes you a more attractive borrower. Many of our clients have obtained loans and/or credit cards almost immediately after bankruptcy. Once your bankruptcy has been discharged and you have your finances back in order, you'll be able to concentrate on reestablishing your credit by building a positive payment history with creditors.

Don't let bad credit destroy your future. Call David Holland Law today.

Bankruptcy does negatively impact your credit report, and it will take time before it's purged from it. But if after careful consideration you find it is the right option for you, it's good to know that your credit will not be ruined forever. If you're ready to take positive steps to rebuild your credit rating, contact us today. Call 941-744-5450 or fill out the form on this page to schedule a complimentary and confidential debt evaluation with David Holland, an experienced credit repair attorney.

Contact Us Today!

At David Holland Law we focus on Consumer Bankruptcy and Debt Defense. We proudly serve Sarasota, Manatee and Charlotte Counties. We offer free phone or in-office consultations in Bradenton, Sarasota, Lakewood Ranch and Port Charlotte. Contact us through the form on this page or call us at (941) 744-5450 to speak with an experienced bankruptcy and debt defense attorney today. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.