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 Law Office of Jennifer Alter-Rieken have assisted thousands of people in reaching this goal.