Minnillo & Jenkins, CO. LPA
Hyde Park, Eastgate, Fairfield, Covington: 513-723-1600
Portsmouth: 740-300-2022
Call For A No-Pressure, Free Consultation

Bankruptcy and the impact debt can have on one's credit score

Constantly dealing with overwhelming amounts of debt could have a substantial impact on a person's quality of life. Many individuals in Ohio who experience prolonged periods of financial hardship may wish to pursue relief through bankruptcy, but they may have concerns about the impact it will have on their credit score. While filing for bankruptcy will inherently affect this area of life, it may still be the healthiest financial choice available.

Filing for bankruptcy is a major financial decision that requires a great deal of thought. A bankruptcy will remain on a person's credit report for as many as 10 years depending on the chapter that is filed. While a similar decision may have an impact on one's credit score, those who are struggling to keep up with monetary obligations may already be experiencing a similar outcome or worse.

With bankruptcy, one could begin rebuilding his or her credit score shortly after finalizing the process. Obtaining new lines of credit during this period could prove challenging, but it isn't necessarily impossible. By maintaining a positive payment history on all accounts following bankruptcy, one may find that a similar choice could lead to a better financial situation in time. In addition, the discharge of certain unsecured debts through bankruptcy could help an individual gain more control over other monetary obligations.

The burdens of debt can place an individual under a substantial amount of financial stress. Those who wish to seek relief could benefit from speaking to a bankruptcy attorney for guidance on making informed decisions regarding their financial futures. An attorney in Ohio can address all a client's concerns and needs and provide advice on choosing a path with which to pursue relief from debts.

Source: fool.com, "How to Rebuild Credit After Bankruptcy", Maurie Backman, Dec. 22, 2017

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Hyde Park Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: +1-513-723-1600
Cincinnati Law Office Map

Eastgate Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: +1-513-723-1600
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: +1-513-723-1600
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Suite 5
Covington, KY 41011

Phone: +1-513-723-1600
Map & Directions
Covington Law Office Map

Portsmouth Office
612 Chillicothe Street
Portsmouth, OH 45662

Phone: +1-740-300-2022
Map & Directions
Portsmouth Law Office Map