Bankruptcy will help improve your credit if it is already bad. Bankruptcy does not reduce your credit score as much as does being 90 days late on a payment. If you are deep in debt and struggling to pay, your income-to-debt ratio is probably so bad that no-one would extend you credit anyway.
If you are planning on buying a home, typically you won’t qualify for at least three years. You don’t have a realistic chance to qualify for a mortgage anyway when you have debt problems. If you already have a house and a car you probably don’t need big credit in the foreseeable future.
At at least you will have cleared up your debt and be on the road to a healthier, more affordable future, and will most likely improve your relationship with your significant other.
Since everyone’s situation is different, it makes sense to have an experienced lawyer review your options and guide you as to the best debt relief approach for you.
Contact us now to learn how to make a fresh start and rebuild your credit.