Bankruptcy can discharge most of your debts. But it can remain on your credit for ten years. Filing for Chapter 7 or Chapter 13 bankruptcy — your credit report will reflect this black mark for at least 10 years. This will make it difficult for you to get credit after your discharge. It is difficult but no impossible. The loans will very likely have high interest rates at least for the first few years. It’s just the lenders’ way of making sure you’re worth the risk.
But when you are deep in debt, your credit score is probably the last thing on your mind. So don’t write off bankruptcy altogether. Your financial situation may be so out of shape that your credit rating won’t worry you for a while. Besides, you can always build up your credit score afterwards by paying your debts fully and on time. Although it may remain on your credit for ten years, bankruptcy will discharge most of your debts and your creditors cannot seek to recover the discharged debts from you. When a debt is discharged in bankruptcy, it is no longer enforceable against the debtor personally.
We are based in Athens, GA (Georgia). We can help you file for bankruptcy if you are located in Athens, Watkinsville, Carnesville, Elberton, Homer, Jefferson, Danielsville, Lexington, Hartwell, Winder, and Clarke County, Oconee County, Elbert County, Franklin County, Banks County, Jackson County, Madison County, Hart County, Barrow County and Oglethorpe County, Ben Epps Airport, University of Georgia (UGA), Piedmont Judicial Circuit, Northern Judicial Circuit and Athens-Clarke County.
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Athens Georgia bankruptcy lawyer | Bankruptcy attorneys in Athens GA and Athens-Clarke County – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy
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