Ohio Bankruptcy, Dayton Bankruptcy
bankruptcy attorney in Dayton Ohio

Bad Credit?

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If you’re on this website then it’s quite likely that you don’t have the best credit that you’ve ever had in your life.

You may not have any credit at all. Don’t worry, We have good news for you. A bankruptcy may be the fastest way to get better credit! Now you might be thinking that you don’t even need credit. This is just not true in our society. Have you ever tried to rent a car or get a hotel room without a credit card? It’s pretty difficult if not impossible.

Almost everybody that we talked to wants to know what effect on their credit report filing a bankruptcy will have. Most people assume, incorrectly, that filing a bankruptcy will be a long-term negative to their credit. This was pretty much true 20 years ago but that’s ancient history, today it doesn’t take much time to restore your credit after you file a bankruptcy. And we show you how to do this as part of our service. Its not hard, but there are certain steps you need to take.

Most people want to know how long a bankruptcy will stay on their credit report. They assume that as long as the bankruptcy is reported it will hurt their credit. This is not true. The fact that the bankruptcy shows up on a credit report is not always a bad thing. Our clients recover their credit very quickly after filing bankruptcy. We explain the simple steps necessary to rapidly rebuild credit.

In fact, our clients start rebuilding their credit while they’re in bankruptcy! We don’t wait until after the bankruptcy is over. The sooner you get started, the sooner your credit will be recovered.

The bottom line on credit

If you can get the credit that you need at rates that are reasonable, then it doesn’t make any difference if the bankruptcy is still on your credit report. In our experience, if certain simple steps are taken, you can expect to get credit cards right away, get automobile loans at decent interest rates, and assuming that you otherwise qualify, you should be able to qualify for house mortgage at a decent interest rate about two years after your bankruptcy discharge.

Now that’s not a very long time in the grand scheme of things, is it? We are very concerned about helping our clients recover their credit as quickly as possible.

One of the great things about a bankruptcy discharge is that it permanently and completely wipes out all the debt that you had before your case was filed.

Future creditors know this so that the bankruptcy discharge appearing on your credit report can actually be viewed as a positive thing.

Creditors who are looking at your credit report know that they don’t have to be concerned about the debt that you owed before your case was filed because it all got discharged in your bankruptcy.

They don’t need to worry that you might be sued by any of your prior creditors for debt that you owed because that’s no longer possible after the debt is discharged in your bankruptcy.

You will get a clean slate, a fresh start.

Creditors know this and they’re much more willing to extend credit after your bankruptcy discharge is granted.

In many cases, you are a better credit risk after you file bankruptcy than you were before.

Have you ever noticed in the newspaper and on television that there are car dealers advertising that “bankruptcy is no problem.”

Did you ever wonder why? Well now you know.

These creditors know that you are off the hook for all of the debt that you owed prior to the bankruptcy filing.

You will owe little or nothing after your bankruptcy in many cases, and therefore much more of your income is available to make the payments on the loan that you are trying to get.

It makes a lot of sense once you think about it, doesn’t it?

The myth that bankruptcy destroys your credit keeps a lot of people from even considering bankruptcy as an option.

That’s really sad, because for many people, it is exactly the right move to make.

It normally takes much less time to rebuild credit after wiping out your debt in a bankruptcy that it would take you to try to pay off the debt by making minimum payments for years and years, paying mostly interest every month and never getting anywhere fast.

If you’re interested in a fresh start in getting your credit rebuilt quickly, bankruptcy may be just the answer for you.

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