Bankruptcy is also helpful in giving debtors time to work out solutions. Upon filing, the bankruptcy halts all debt enforcement actions such as foreclosures on a home, repossessions of an automobile, or garnishments of wages or bank accounts. The bankruptcy will be on your credit report for ten years. However, you are not banned from borrowing. The bankruptcy is only one factor in determining credit-worthiness.
Most lenders look at a person's present ability to re-pay.
In fact, for some lenders, persons who have been through bankruptcy are a better risk because they are now debt-free, and are determined to get a new start. We can do a preliminary consultation over the phone. If we need to go further, worksheets to evaluate your situation are available from this website. Fill them out and bring them to the initial appointment. Bankruptcy is not a cure-all, but it is a powerful tool to deal with a number of legal problems.