Restoring Your Credit in California
San Jose Area Bankruptcy Attorney Serving Santa Clara, Campbell, and the Bay Area
If you are falling behind on your mortgage and other bills, you may be facing wage garnishment, bank levies, home foreclosure and constant creditor harassment. You may be hesitant to consider bankruptcy as a debt relief solution, believing that it will be too harmful to your credit. However, filing for bankruptcy can actually be a step in the right direction in terms of repairing your credit. Additionally, there are techniques to restore your credit after bankruptcy.
Gemma V. Reyes, Attorney at Law, can answer your questions about bankruptcy, provide you with an honest assessment of your financial situation and help you find a debt relief strategy that is right for you. Attorney Reyes has more than a decade of experience helping people throughout the San Francisco Bay Area, the Monterey Bay Area and surrounding areas.
For bankruptcy advice and credit repair information, talk to San Jose lawyer Gemma Reyes. Contact our bankruptcy law firm online or call 408-292-6289 to arrange a consultation.
Restoring Your Credit After Bankruptcy… We Help You Obtain a Fresh Start
What many people do not realize is that repairing your credit does not start after bankruptcy. It begins with filing for bankruptcy in and continues throughout the entire process. Our law firm assists you with an array of debt and credit issues throughout the duration of your bankruptcy case as well as with legal matters that arise afterward. Some of the things we do to deal with debt and credit issues include:
- Mortgage obligations: For many, their mortgage obligation is the sole debt that keeps them from staying afloat. They may incur credit card debt to manage mortgage obligations — resulting in additional problems. We assist in negotiating with lenders to reduce monthly mortgage obligations. Our guidance through loan modifications may result in a reduced principal, reduced premium or other adjustment in terms.
- Foreclosure: You may stop or delay foreclosure proceedings through your personal bankruptcy petition. However, either your primary lender or secondary lien holders may attempt to recollect compensation for the old amount — even if it was rightfully discharged in bankruptcy. We assist you in resolving these claims efficiently.
- Family law and divorce: Family law issues such as divorce, property division, alimony and spousal support can create significant financial issues that can significantly affect both parties involved. Filing for bankruptcy before divorce can address many issues that would be necessary to resolve in a divorce. For example, deciding what to do with a home with an upside-down mortgage is one of the most significant challenges for many couples. However, we can assist clients in resolving this complex issue within bankruptcy — simplifying divorce issues and eliminating the concept of lingering debt after divorce.
- Family law and support issues: If a family law case is already initiated when you file for bankruptcy, many issues are suspended or delayed until the conclusion of your bankruptcy case. However, ongoing spousal and child support issues are not delayed and can never be discharged in bankruptcy. We are committed to protecting your ongoing interests and the interests of your children. If you are in need of reducing child support obligations — as a piece of your debt problems — we can provide the experienced counsel you need.
How Long Will Bankruptcy Affect My Credit?
There is not a number set in stone on when you will be accepted for a car loan or approved for a mortgage. However, once you have filed for bankruptcy, you will essentially have a clean slate. A significant amount of debt will be removed from your credit report and you may start receiving credit card offers in very little time — even with a bankruptcy reported on your credit report. Some of the things you can do to improve your credit score faster include:
- Obtain a credit card once eligible again and use it responsibly
- Pay your rent and other bills on time, or even early
- Obtain a copy of your credit report to ensure it has been corrected following your bankruptcy
One of the most important things you can do after bankruptcy to restore faith in lenders is to demonstrate that you are responsible with debt and with using credit.
Contact a San Jose Bankruptcy Attorney
If you have additional questions about bankruptcy and credit repair, or if you want to discuss your financial situation with a skilled lawyer, contact our San Jose law firm to arrange an initial consultation. Call 408-292-6289.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.