When to File Bankruptcy

Attorney Fred Boyk has filed over 2,500 bankruptcy cases. People often ask him whether filing bankruptcy

1) will haunt them for the rest of their lives and
2) if they will ever be able to again obtain credit

The truth is that filing a Chapter 7 “Fresh Start” bankruptcy, in many instances, leads to increased credit scores.  Since a person has less debt after bankruptcy, their debt to income ration is also lowered.  This is a big factor in determining a credit score.

Even new home mortgages are available through the Federal Housing Administration (FHA) 2 years after a bankruptcy discharge.

People should rely on their “gut”.  If you have a pit in your stomach or toss & turn at night because of debt issues, bankruptcy may be an option you need to explore.

Attorney Fred Boyk takes calls 7 days a week and offers free phone consultations.  You can contact him at (419) 327-6160.