Most people are well aware that filing bankruptcy will cause them to take a hit on their credit score. They know that it may be difficult to get credit cards and other loans for a period, but they wonder how long it will take to get their credit score back to normal. The answer depends on a number of factors unique to your situation. While there is no set timetable, a St. Louis Chapter 7 Attorney can help you get your debt problems in order, allowing you to move on and get your credit repaired as quickly as possible.
The truth is that when most people come in to speak with a St. Louis Chapter 7 Attorney, their credit has already taken a serious hit. They likely have missed payments, defaulted on certain loans, and have collection activity on their record that has caused their credit score to drop. For these people, filing bankruptcy has a generally negligible effect on their credit score.
Still, however, it is important to note that a Chapter 7 filing will remain on your credit history for 8 years after filing, which may make some lenders hesitant to lend to you. But this filing will also help you discharge your credit card debt and help you get your head above water. If you can pay your bills on time and avoid debt problems for several years, some lenders will look passed previous problems and offer you a loan.
If you have serious debt problems, an attorney at Westbrook Law Group can help. We understand how serious debt problems can be and will work to help you get a fresh start, free of the stress that debt bring. To learn more about how a St. Louis Chapter 7 Attorney can help with your debt problems, contact Westbrook Law Group today for a free consultation.