Many people who stand to benefit enormously from the protections provided by bankruptcy hesitate, worried about the long-term impact of having a bankruptcy on their credit history. While bankruptcies do stay on your credit report for up to 10 years, they don't necessarily represent the end of credit for you. The Gil Law Firm, a Dothan bankruptcy attorney serving clients in Alabama, Georgia, and Florida, explains the long-term consequences of filing for bankruptcy.
In the immediate aftermath of filing for a bankruptcy, you'll see a sudden drop in your credit score, which may fall by up to 220 points. It may seem like you'll never be able to rebuild your credit, which can make it difficult to ever qualify for an auto loan, mortgage, or credit
In the immediate aftermath of filing for a bankruptcy, you'll see a sudden drop in your credit score, which may fall by up to 220 points. It may seem like you'll never be able to rebuild your credit, which can make it difficult to ever qualify for an auto loan, mortgage, or credit