Rebuilding Your Credit
If the main focus before filing a St. Louis bankruptcy (whether it is a St. Louis Chapter 7 or a St. Louis Chapter 13) is getting rid of unsecured debt like credit cards and medical bills (or stopping things like harassing calls from creditors and lawsuits filed against you), then the number one goal after the case is filed would be rebuilding your credit.
The most common misperception about filing for bankruptcy is that doing so will ruin your credit forever. But the government describes the bankruptcy process as a “fresh start / clean slate”. It is a chance to wipe the slate clean, and make a fresh start towards a much less stressful life. Once all the creditors are discharged, the opportunity to repair your credit score will be immediate. You will have a chance to take out new credit cards (so as to reestablish a line of credit) within days of receiving your discharge. Obtaining a car loan at a decent rate can be done within a year of your case. And most people are able to purchase real estate within two years after having filed a bankruptcy petition.
These opportunities exist for a simple reason: So that you can get back on solid financial ground sooner rather than later. The St. Louis bankruptcy lawyers at The Bankruptcy Company have assisted thousands of people in reaching this goal.