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Credit After Bankruptcy

As a prevalent myth associated with the bankruptcy process, many people fear that bankruptcy will ruin their credit. While bankruptcy will appear on your credit report for a period of time—Chapter 7 will appear for 10 years and Chapter 13 will appear for 7 years after you file—that does not necessarily mean that your credit will be adversely affected. In fact, many people find that they actually have more borrowing power after filing for bankruptcy than they did before filing.

At the offices of Ryan J. Ruehle Attorney at Law, LLC, our team can help you work through the process and help you make the kind of informed decisions that you will need to make moving forward with your life.

How Bankruptcy May Affect Your Credit

Though the bankruptcy process will likely affect your credit, many filers find that this effect differs from their expectations. In many cases, bankruptcy affects an individual’s credit in the following ways:

  • With your debt discharged, you will represent a better credit risk to creditors
  • You will be better equipped to manage any new credit you take on
  • The loans you are eligible for may have a higher interest rate

Our Cincinnati legal team is prepared to help you work through the bankruptcy process, regardless of the particulars of your case.

Consult with a Bankruptcy Lawyer in Cincinnati

If you are considering whether to file for bankruptcy in Cincinnati, you should speak with the Cincinnati bankruptcy attorneys with Ryan J. Ruehle Attorney at Law, LLC, to learn more about how bankruptcy may impact your finances. To discuss your situation with one of our bankruptcy attorneys, please call our Cincinnati offices at (513) 621-0999 today.

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