Effects of Bankruptcy
What Does Bankruptcy do to My Credit?
Bankruptcy is one factor that lenders consider when deciding to loan you money, among other factors, including your income, the property you own and the debt you currently have. Different creditors make the decision to loan money differently and the factors they consider and the weight given to these factors is in constant flux. However, bankruptcy filers have historically been able to obtain credit. Sometimes the ability to obtain credit improves after a bankruptcy filing when individuals reduce debt load and eliminate judgments.
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Chris Wampler & Eugene Souder: your Maryland attorneys