Harris-Courage & Grady, PLLC
What Happens to My Credit After I File Bankruptcy in Syracuse?
It may be hard to believe, but your credit score can actually improve when you file bankruptcy! Why? Because you don’t owe your unsecured creditors any more.
Yes, the bankruptcy will be on your credit report for 10 years after you file a bankruptcy in Syracuse, but that doesn’t mean that you’ll never be approved for credit again. It does mean that you won’t qualify for low-interest credit for a while, but . . .
A study showed that people who file bankruptcy will receive more credit card offers than the average American.
Because credit card companies know that they make more money in interest and in fees from people who file bankruptcy than those who just pay off their credit card balances each month. The credit card companies will get your name and address off the bankruptcy filing records to send you credit card offers.
There are always car dealerships offering credit to buy cars. You must be careful with these dealers because they know you are desperate. We always recommend that you buy cars with cash. However, if you really need a car loan and are currently employed, someone out there will be willing to grant a car loan.
The exciting news is that it only takes 2 years after bankruptcy to qualify for a normal interest rate loan.
Our office is offering a post-bankruptcy coaching program to help you increase your credit score so you can qualify for a mortgage or refinance in just 2 years. Call our office today.