In this modern world, your credit score affects many things. Your credit rating determines how much you pay to finance a home and a car. The cost of other necessary services, such as insurance and cell phone charges, may also be increased if your credit score is low. People considering bankruptcy worry about how filing bankruptcy will affect their credit rating. They fear not being able to finance a home or a car, take out a loan, or even get a credit card.

While filing bankruptcy affects your credit score, studies show a credit score increase for people who discharged a large amount of debt. A recent study showed that 43% of people who declared bankruptcy have a credit score of 640 or higher within a year. This study found that people who file for bankruptcy are in the same position as people who need to repair credit standing.

If you take aggressive action to increase your credit score, you can increase your score after several years. You will need to work on credit score improvement after bankruptcy. Recovering from bankruptcy means restoring your credit rating.

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Complete our free, online debt evaluation form or call/text our office at (903) 759-5922. You can also email Find out if bankruptcy is your best option and whether it will help you.