Many people ask us "will bankruptcy completely screw up our credit report"?  The answer is, of course, complicated.  The short answer is "yes", and the longer answer is "it will get better".

Having a personal bankruptcy on your credit report will affect your score as much as 200 points, and last for 2 years.  If during that two years, however, as you establish new credit and pay your bills ON TIME, your credit score should begin moving upwards at the two year mark.

Although bankruptcy will remain on your credit report for 7 or 10 years, by establishing new credit the RIGHT WAY, you can mitigate this to a certain extent. 

If we do not learn new skills and techniques after a bankruptcy, we are doomed to repeat the process that got us there in the first place.

Donna Perkins

  Ask us how we can help guide you to step-by-step restore your credit score.  Or ask us how we can help you simply and easily create a buisness credit file, and never again use your social security number to personally guarantee a loan!  CLICK HERE to be contacted.