Credit Rehabilitation After Bankruptcy

Advice about Credit Rehabilitation Is an Essential Part of the Service We Provide

One of the greatest concerns our clients have about bankruptcy is the fear that filing bankruptcy will ruin their credit. They are afraid they will never be eligible for a credit card, car loan or mortgage if they file. Nothing could be further from the truth.

A common misconception is that your credit will be ruined for 7-10 years after you file for bankruptcy. Not even close. The fact that you filed a bankruptcy will remain on your credit report for 7-10 years, but your credit score should improve very quickly. Does this seem counterintuitive? Here is why:

• You will have no debt.
• You will have income. If not now, eventually.
• Your debt to income ratio will most certainly be better than it has ever been in your entire life.
• You cannot file another bankruptcy and get another discharge for a number of years.

For these reasons, you will no longer be a credit risk. Therefore, your credit score should improve very quickly.

The purpose of the bankruptcy code is to help give you a fresh financial start. The United State Supreme Court made this point by stating:

"It [bankruptcy] gives the honest but unfortunate debtor ... a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt." Local Loan v. Hunt, 292 U.S. 234, 244 (1934).

In other words, the purpose of the bankruptcy code is not to kick you while you are down. The whole point is to give you a fresh financial start.

Make Sure To Get Sound Legal Advice Early in the Process

One of the primary things we will discuss at the free initial office consultation is how to rehabilitate your credit score after the bankruptcy. Almost without exception, people are surprised to learn how quickly their credit scores can be restored.

Get Answers and Experienced Guidance in Credit Rehabilitation in North Texas

We invite you to call Pelley Law Office, L.L.P. at 972-608-0335 or 903-813-4778 to schedule a free confidential consultation with an experienced bankruptcy lawyer. You can also contact us by e-mail now to request an appointment.

Questions? Feel free to visit our Bankruptcy FAQs. To learn how our attorneys have helped clients in North Texas deal with overwhelming debt and other legal problems, please view our Client Testimonials.

Just a brief note to tell you how appreciative I am of how effective you were in my Bankruptcy Proceedings. I was never worried because I knew I was being represented by the best. Thank you!

- F.B.

I was faced with a first degree felony, which meant 5-99 years behind bars. It was terrifying. You are not only a great attorney but a very honest man with integrity...you saved my life.

- A.N.

From the first moment I met Mr. Pelley, he made me feel at ease. I was always updated, whether via mail or phone call of court dates and information concerning my case. He did a remarkable job and went above and beyond all my expectations. I wouldn't have to think twice about recommending Mr. Pelley to represent any of my family members or closest friends.

- C.G.