No one plans to file for bankruptcy, but sometimes unexpected things happen that can cause people to fall behind on payments that they owe. Perhaps an accident, illness, or job loss has happened and you are considering all of your options to reduce or eliminate your mounting debt. Understanding what your different options involve and the consequences of these options is important. A primary concern for you may be what will happen to your credit once you file for bankruptcy.

A Long Term View

An experienced bankruptcy law firm like The Law Offices of Brent D. George in Ventura County can help explain the bankruptcy options available to you to stop creditor harassment and the stress of unmanageable payments. With bankruptcy and its impact on credit, a long term view of the situation at hand is important to fully understand the benefits involved. If you are considering filing for bankruptcy, your credit score is likely already impacted negatively by your current circumstances. If you do decide to declare bankruptcy, it will remain on your credit record for ten years. If you do not file bankruptcy, it could take more than ten years to fully pay off the debt owed and slowly recover a good credit score. Declaring bankruptcy removes debt and gives you a clean slate to build credit back up right away.

A Fresh Start

Filing bankruptcy can provide you a fresh start to a better future. Good credit can be built back up within a couple of years to the point that you could be able to qualify for loans with competitive interest rates. This means that an improving credit score opens up car and home loans even before the bankruptcy record goes off of your credit report. Often people who have finished their bankruptcy requirements get credit card offers within months. Many people actually experience an increase in their credit score after bankruptcy.

Get it Done Right

If you decide to file for bankruptcy, you want to be sure that you have an attorney who specializes in bankruptcy filing like The Law Offices of Brent D. George. This Ventura County firm will ensure your bankruptcy is filed properly, and meets all of the legal requirements.

Get rock solid legal advice and representation before you file for bankruptcy. Even though the decision to file for bankruptcy is a difficult one, it may be the best one you could make to improve your finances.