Will I be able to get credit after I file for bankruptcy if I live in Bergen County?

The short answer is, “Yes! (Of course or I would be out of a job!)”  Often people do not file for bankruptcy because they believe they cannot get credit for 10 years.  This is a big misunderstanding.  A bankruptcy can appear on your credit report for 10 years but as you get further away from the filing date the better your credit score and credit offers.

I usually tell people that their credit scores will increase within the first year after filing for bankruptcy.  However, recently my clients have reported back their credit scores have increased more than 150 points a month or two after filing for bankruptcy.

Years ago someone credit score would increase 100-150 points within a year.  Why the change?  I am not sure why but I suspect the credit card companies are loosening up credit standards.  That is good news for you because filing a bankruptcy now will zero out the balances on  your credit report and your score will go up almost immediately.  I cannot guarantee results but my clients are proof that this is occurring.  So if you have been thinking about filing it is a perfect time!


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