The good thing about chapter 7 bankruptcy as compared to chapter 13 is that you can start to rebuild your credit very quickly.
Unlike chapter 13 bankruptcy where you have to wait up to five years to start rebuilding your credit, you can start rebuilding your credit shortly after you file chapter 7 bankruptcy
Chapter 7 bankruptcy debtors worry most about being able to finance an automobile purchase or to qualify for a new mortgage after filing chapter 7 bankruptcy. Such fears are unfounded.
After filing bankruptcy, automobile finance companies often seek you out for credit offers. They like loaning money to chapter 7 bankruptcy debtors because they know that with your debts discharged, you will have available funds to repay the new loan.
Finance a home purchase is a bit more involved. In order to finance the purchase of a house after chapter 7 bankruptcy, you will have to take certain concrete steps to rebuild your credit.
We offer all our full-service bankruptcy customers as well as our managed software customers, step-by-step instructions on our paid-customer web site, on what they can do to quickly rebuild their credit.
If you purchase either our managed bankruptcy software product, or our full-service product and you follow our instructions, you will be able to rebuild your credit enough to qualify for a home mortgage in as little as two years.
Filing chapter 7 bankruptcy does not have to doom your credit prospects. You can take positive steps to not be a bad credit victim.