How does bankruptcy affect my credit score?

If you are facing considerable financial distress and are thinking about filing for bankruptcy, you’re not alone. Thousands of people across the U.S. have found themselves overwhelmed by debt with their credit scores plummeting. While bankruptcy will initially affect your credit score as well, it can be a much better financial option than disregarding your finances and allowing your credit to be destroyed. Additionally, although bankruptcy will be factored into your credit score, it will give you the opportunity to rebuild your finances and, thus, your score.

It can be difficult to make the decision to file for bankruptcy, but it is often good decision in the long run for many debtors. If you or someone you care about is considering filing for bankruptcy, contact a qualified Raleigh bankruptcy attorney at the Bradford Law Offices, PLLC, today at 919-758-8879.