Bankruptcy may be a good idea for one, simple reason

One of the reasons why many of my clients are hesitant to file a bankruptcy is that they are worried about how it will look on a credit report. It’s a big deal, but there are reasons why bankruptcy protection can makes sense.

While bankruptcy is an important mark on your credit report, the goal of taking this step is to make it the only negative mark that’s held against you. It’s true that discharged debts will remain in your visible credit history for a time, but it’s also clear to anyone pulling your report that you no longer owe any of that money. Depending on your situation, your outstanding debts could be pulling your credit score down by more, or could keep it down for longer as you struggle to pay it all off.

Since every situation is unique, I offer a free consultation to potential clients considering this step. Bankruptcy won’t help everyone, and I turn away people when it doesn’t make sense. If you’re weighing your options, call Selby Legal to talk about whether bankruptcy protection is one that could be beneficial.