You Can Rebuild Your Credit After Bankruptcy

Too much debt can put you in a deep hole. But once you get out of that hole by filing bankruptcy and getting your debts discharged, what comes next? You may actually need to take on new debt to buy a car or a home.

At Hamilton, Burgess, Young & Pollard, P.L.L.C., we provide counsel regarding credit issues to our clients. In addition to helping them obtain debt relief through Chapter 7 and Chapter 13 bankruptcy filings, we advise our clients in matters involving credit ratings and the use of credit to purchase cars, homes and other large-ticket items. Our lawyers are prepared to provide you with sound advice regarding credit issues and results-oriented representation in bankruptcy court.

Filing Bankruptcy Does Not Ruin Your Credit

Many people think that creditors will never extend credit after they file bankruptcy. Nothing could be further from the truth.

A Chapter 13 bankruptcy can actually help you repair your credit rating, making you a more desirable borrower in the eyes of lenders. By making your monthly payments as part of your three- or five-year debt repayment plan, you are showing lenders that you are dependable, and at some point in the not-so-distant future, worthy of additional credit. When we develop your Chapter 13 bankruptcy plan, we will take care to allow for a reasonable level of household expenses. By freeing yourself of costly interest and penalty fees you should be able to make your monthly debt payments. With the passage of time, you should see incremental improvements in your credit rating.

Likewise, a Chapter 7 bankruptcy can enable you to rebuild your credit, provided that you exercise self-discipline. There are some simple steps you can take to enhance your credit rating: Pay cash for your daily living expenses, pay your monthly bills on time and don't spend more than you earn in a month.

Free Consultation With An Attorney

To learn more about rebuilding your credit after bankruptcy, contact Hamilton, Burgess, Young & Pollard, P.L.L.C., for a free consultation with an attorney. We serve clients throughout West Virginia, from our offices in Fayetteville and Princeton.

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