Many of my Wisconsin bankruptcy clients want to know if the process will have a negative impact on their credit scores. Bankruptcy will not really hurt your credit if your credit rating is already not that great when you file. A better way to view it is that bankruptcy provides you with the opportunity to start rebuilding your credit. You can regain a better credit score even within a two year period of time!

If your credit rating is decent before you file for bankruptcy, then filing will likely affect your score, but there are two main things to keep in mind in that situation. The first is that if you are really struggling and have a great credit score, it is likely that you will not be able maintain that rating on your own anyway if you cannot continue to stay current with your bills. It will only be a matter of time before that score starts going down as the monthly payments you make get harder and harder to manage. The second thing you should remember is that you can rebuild your credit within two years. Bankruptcy does not ruin your credit, and we know ways for you to rebuild in the future.