Although the filing of a bankruptcy proceeding will not have a favorable impact upon your credit rating, it will not necessarily prohibit you from buying goods or services on credit in the future.


In a recent study conducted and released by a major university (Feb. 19, 1991), it may be easier than most people think to get credit again after filing bankruptcy. According to this study, many individuals who had filed a Chapter 7 Bankruptcy were able to get credit again within 6 months after filing and were able to get loans 65% as often as those who had not filed bankruptcy.

In many situations, a creditor, such as a finance company or auto dealer, may be more willing to grant someone credit after the filing of a Chapter 7 straight bankruptcy for two primary reasons:



Once a consumer has filed a Chapter 7 case, he/she cannot file another straight bankruptcy again for another 6 years;


After filing straight bankruptcy, most consumers have virtually eliminated their unsecured debt.

Consequently, you may be a better credit risk after you file your bankruptcy than before the filing. This is why it is not unusual for recent Chapter 7 Bankruptcy participants to receive invitations to obtain credit for the purchase of automobiles, appliance, furniture, even a house.

If you need to have a credit card for work or travel, you may be able to qualify for a secured credit card. With a secured credit card, you will be required to deposit a certain sum of money with a bank--which will give you a line of credit to the extent of the amount of money in that account.






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Yes. Thanks to a 1994 amendment to the U.S. Bankruptcy Law, you cannot be denied a student loan because you filed a bankruptcy proceeding. So, if you need a student loan, a creditor is prohibited by law from discriminating against you on your application on account of a previous bankruptcy filing.






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By law, a bankruptcy proceeding can remain on your credit report for 10 years. However, according to TRW Credit Data Services, a completed Chapter 13 bankruptcy case, is usually removed from your credit report after 7 years.






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No. The initial consultation is always free of charge.

To scheduled an appointment, call our 24 hr. HELP hotline at 1-800-PAST-DUE.

In order to properly analyze your case, you should bring in a complete listing of the names and addresses of all your creditors-- which can include actual billing statements. Also, you should bring with you a copy of your paystub, LES, or any other documentation of your income from any other source such as military and retirement income, worker's compensation, social security, AFDC or unemployment insurance benefits.

To save making a second trip to our office, you may also want to consider bringing the $180 filing fee.

After you have retained our office, you can sit back, relax, and breathe a sigh of relief, as we are dedicated to giving you a

Straight Bankruptcy

Future Credit

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