If I declare bankruptcy, can I begin my credit report all over with a clean slate?
Many bankruptcy attorneys do not adequately understand or explain the effects of bankruptcy to their clients. Stated simply, bankruptcy is to the credit rating what the atomic bomb is to the battlefield.
When you file for bankruptcy, every credit account that you decide to include in bankruptcy will become an "included in bankruptcy" item. Additionally, a bankruptcy filing and bankruptcy discharge listing will appear in the court records section of your credit report. Because so many negative items are attached to the bankruptcy, it becomes very difficult to remove all trace of the bad credit. If at all possible, you should avoid bankruptcy.
Lexington Law - Legal and Effective Credit Report Repair. Learn more
More credit repair FAQs here.
Many bankruptcy attorneys do not adequately understand or explain the effects of bankruptcy to their clients. Stated simply, bankruptcy is to the credit rating what the atomic bomb is to the battlefield.
When you file for bankruptcy, every credit account that you decide to include in bankruptcy will become an "included in bankruptcy" item. Additionally, a bankruptcy filing and bankruptcy discharge listing will appear in the court records section of your credit report. Because so many negative items are attached to the bankruptcy, it becomes very difficult to remove all trace of the bad credit. If at all possible, you should avoid bankruptcy.
Lexington Law - Legal and Effective Credit Report Repair. Learn more
More credit repair FAQs here.