Get Better Credit, Faster than Without Bankruptcy
The first thing I have to say is watch out for the bankruptcy myths out there, particularly the total lie that you will have bad credit for 10 years. This is flat out false. The truth is that Bankruptcy will not prevent you from getting a really good credit score (even above 700) in less than two years after your discharge. Some clients even get it within 12 months!
Can you pay off your debs and get even a 600-credit score in the next 12 months without bankruptcy? Probably not Without bankruptcy, one or two or even five years from now you will be struggling along with your debt, missing payments and your credit will be terrible.
Yeah, but please explain, how do I get better credit faster than if I don’t file bankruptcy?
For most people who need bankruptcy, filing bankruptcy does not ruin their credit for long (if at all). After filing bankruptcy, you will have the opportunity to get good credit pretty quickly. You have to compare that to how long it would take you to restore good credit without bankruptcy.