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Law Office of James Keenan

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Sacramento Bankruptcy & Debt Relief Attorney

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Bankruptcy Credit Repair

 Bankruptcy credit repair is a way to get a fresh financial start. The common misconception is that filing bankruptcy is nothing but a negative on your credit. It's not. Filing bankruptcy, whether in Sacramento or elsewhere, is a way to eliminate debt. That is good for your credit, as most would imagine. The issue, then, is whether it is better to file for bankruptcy and have no debt, or live with the debt without a bankruptcy on your record. The answer is unique for everyone. But if you can not afford the debt you have, bankruptcy is often the best solution.

Bankruptcy credit repair is designed to restore your debt-to-income ratio, the biggest factor in your credit score. So even if you have a negative on your credit by filing bankruptcy, your debt can be eliminated. People who are considering filing bankruptcy are often in a position where they can't afford the debt they have. Normally their income is static, so there is nothing they can do to pay their debt down. Just the opposite. For most, the debt tends to grow. By the time they are robbing Peter with one loan or credit card account to pay Paul, bankruptcy is usually the best option. Why? Because with growing debt and credit accounts comes compromised credit. Too much debt, too many credit cards and an inability to pay them leads to shot credit.

Bankruptcy does no harm to someone with bad credit already. It's like putting a dent in a totaled car. It makes no difference. But by discharging, or eliminating, your debt, bankruptcy can boost your credit. It is why bankruptcy credit repair works. As this news story reflects, filing bankruptcy is more common than you think. Understandably, people don't normally discuss their having filed bankruptcy.

If you cannot afford the debts you have and your debt is growing, consider filing for bankruptcy. Not only can bankruptcy credit repair improve your finances, it can ease your mind from living with debt. Contact me for a free consultation.

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