Tag Archives: Credit After Bankruptcy

How Will Bankruptcy Affect My Credit?

Our Morris County Bankruptcy Lawyers Assist People with Debt If you file for bankruptcy, your credit score may take a hit. However, the vast majority of people who are in need of bankruptcy the most generally have poor credit scores prior to filing. Defaulting on loans or mortgages, being late on utility bills or credit cards, having a judgment entered against you—those things will all negatively affect your score. The good news for people worried about their credit scores is that bankruptcy can mark the beginning of a new financial life. Many who file for bankruptcy can improve their credit scores afterward, and for some, bankruptcy can be one of the quickest methods to do so. How Much Will Bankruptcy Hurt My Credit Score? The damage to your credit score upon filing for bankruptcy is difficult to predict. The effect largely depends on your current credit standing. If you have…
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