Bankruptcy and Your Credit

Many people are fearful that a bankruptcy will badly damage their credit. In reality, if you have struggled with or missed payments, you have probably already damaged your credit score. Obviously, a credit report which reflects missed or late payments signals to financial institutions that that person would be at greater risk, and therefore, ineligible for credit. Because many people wish to avoid the stigma of bankruptcy, they often resort to obtaining credit through high interest lenders, internet lenders, or questionable loans through debt restructuring organizations. This merely perpetuates and exacerbates the problem. A bankruptcy filing is often the best solution, and in many instances, it is better to file sooner rather than later.
The majority of the clients we see have a higher credit score 12 months following the filing of their case then they do when we actually file their case. Of course, this is not always the case, particularly with those few clients who have remained current with their bills up until the date of filing. It may be harder to borrow money following a bankruptcy, but your credit score can be rebuilt over time, particularly if the circumstances surrounding your bankruptcy were beyond your control.
The bankruptcy code is intended assist people, not punish them. We invite you to see if a trained bankruptcy advocate can help you improve your financial life. Everyone wants the freedom to make his or her choices own choices. Unmanageable debt severely limits those choices. Contact Bankruptcy Clinic, PC today to restore your freedom and economic choices.
If you’re in Illinois and you fear you have exhausted your options, consider talking to the skilled lawyers at Bankruptcy Clinic, PC. We can help you push through the stigma of a bankruptcy filing while finding the option that works best for your situation. Don’t wait until your financial situation deteriorates even further than it has already. Our lawyers have offices in Marion, Mt. Vernon, and Carbondale, Illinois to serve you. Call today for a free consultation before your situation gets worse.

CARBONDALE OFFICE

Phone: (618) 549-1100
Toll Free: (888) 522-6578
Fax: (618) 549-0141
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Mailing Address:
Bankruptcy Clinic, PC
811 W. Main Street
Carbondale, IL 62901

MARION OFFICE

Phone: (618) 993-1300
Toll Free: (888) 522-6578
Fax: (618) 993-0713
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Mailing Address:
Bankruptcy Clinic, PC
206 W. DeYoung Street
Marion, IL 62959

MT. VERNON OFFICE

Phone: (618) 315-6600
Toll Free: (877) 621-2894
Fax: (618) 315-6603
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Map and Directions

Mailing Address:
Bankruptcy Clinic, PC
2006 Broadway
Mt. Vernon, IL 62864