I get this questions a lot, “How will bankruptcy effect my credit.”
Generally, the old rule has been that it will affect your credit in terms of getting a credit card or loan for approximately four years and seven years for purchasing a home. Effect, meaning that they lender will weigh the bankruptcy against you. Times however have changed because of the 2007 economic crash. So many people have had to file for bankruptcy relief that the stigma associated with bankruptcy is no longer as harsh as you would think. In fact, I have heard that you can qualify for an FHA loan within just three years after a Chapter 7 or just two years after a Chapter 13. That is significantly better Cialis Online than the traditional seven years.
There are also new ways to repair your credit now. There are a lot of pre-paid credit cards that can improve your credit without putting you at risk of carrying credit card balances. Additionally, you can add yourself to someone else’s credit card and also improve your credit score that way.
A lot of times people trying to pay yourself out of debt may not be the best solution for you. Depending on the amount of debt you have and your income level, a lot of times, filing for bankruptcy and repairing your credit today is better and more efficient then just making minimum payments. Whatever your case may be, contact us and let us help you.