Call Now
(916) 780-7005
Click Here
Free Case Analysis
MENU
  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Bankruptcy And My Credit Score

One of the biggest hesitations people have about bankruptcy is there credit score. It’s common knowledge that bankruptcy hits your credit score pretty hard. Your score will drop by at least 100 points upon filing, and your bankruptcy will stay on your credit report for either 7 or 10 years depending on the kind of bankruptcy you file. I have had clients get their score back into the 700’s within a year a filing. So, bankruptcy isn’t a death sentence for your credit, though it will take some work to get your score back up.

How to reestablish your credit.

Here are some ways you can build your credit back up if you’re dead set on doing so, though I can’t say I’d recommend it:

  • Get a secured credit card.
  • Don’t go nuts on all the credit card offers you’ll be getting, and be sure to pay off the cards you do open every month.
  • Car loans are often easier to get than other kinds of loans because there is collateral. Though don’t tie yourself up with an unmanageable car payment.
  • Check your credit score regularly. Call your credit report issuer if you see that something isn’t reported properly.

My Advice

In my opinion, you shouldn’t care about your credit score because you shouldn’t be using credit. Do you remember the anxiety of being in debt? Why would you do that to yourself all over again? Bankruptcy has given you a blank slate. Take advantage of it! Here is what I suggest:

  • Cut up any new credit cards that come in the mail.
  • Buy used, reliable cars and avoid car payments.
  • Do a budget
  • Make a habit of saving at least 10% of your income for a rainy day.
  • Invest at least 10% of your income for retirement through a 401k or Roth IRA (or both!).

These suggestions aren’t popular or common, but that’s ok. If debt and financial chaos are common, I’d rather be uncommon. If you live in the Stockton area and are interest in the fresh start bankruptcy can bring, please give our Stockton bankruptcy office a call and I’d be happy to offer you a free consultation.

Categorized in: