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FAQ

Is Bankruptcy an Option to Repair my Credit?

Posted by Stefen K. Shamberg | Aug 02, 2024

Bankruptcy may result in your credit score improving, as your successful completion of the case will result in a Discharge of your debts.  That means your creditors will be barred from collecting the balances due on those accounts. 

However, a Bankruptcy filing does not erase your past credit history.  So any default on your obligations, lawsuits filed and Judgments rendered, will be part of your credit reports for a period of up to seven (7) full years.  While the Bankruptcy itself will be noted for a ten (10) year period.  

About the Author

Stefen K. Shamberg
Stefen K. Shamberg

Originally from the Cleveland area, Stefen was principally raised in Mansfield, Ohio.  Upon graduating from high school he attended Kent State University obtaining a Bachelor of Arts Degree, majoring in Political Science.  Interested in the legal profession from an early age, he subsequently earn...

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Shamberg & Associates is committed to answering your questions about Bankruptcy, Foreclosure Defense, Breach of Contract Defense, and Debt Settlement. So contact us today for an Initial Free Consultation at (216) 691-7800.

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