Header Border

Contact for a free Initial Consultation

When you are struggling with debts, our lawyers can help you get a fresh
start while protecting your most valuable assets.

Your Credit Rating After Bankruptcy

How Does Bankruptcy Affect Your Credit Score?

Some people avoid bankruptcy out of a misplaced worry that it will ruin their credit rating and ability to borrow in the future. The surprising reality is that filing for bankruptcy usually improves a person’s credit. Most people can qualify for consumer loans within a year or two.

Bankruptcy is no cakewalk, but it is an opportunity to get true debt relief, to get back on your financial feet and to restore good credit. The law firm of Stamps & Stamps, Attorneys at Law, can help you explore your debt relief solutions and separate fact from fiction so that you can make an informed decision.

Your Roadmap to Financial Freedom Here | Dayton Offices: (937) 247-6447 or Toll Free: 877-782-6770 | Free Initial Consultation | E-Mail Us

Your Credit Rating After Bankruptcy

When you file for bankruptcy, it is true that your credit score will dip initially. However, your credit score is probably poor already if you have a high debt-to-income ratio, especially if you are in default on loans or late paying your bills.

Our lead bankruptcy lawyer, Eric Stamps, pulls your credit report from the three main credit reporting agencies and compares your current scores with your projected score 12 months after filing for bankruptcy. For most of our clients, the projected credit score is 50 to 150 points higher than their current score. The simple math is that lenders and credit card companies see a better credit risk without all that debt weighing you down.

While your credit history plays a role, in our experience:

  • You will probably receive credit card offers within months of filing bankruptcy. Used in moderation, these will actually help you rebuild good credit.
  • You should be eligible for car loans at reasonable rates within one year or so.
  • You should be able to obtain a home loan at reasonable rates within two years or so.

Dayton Bankruptcy Attorneys

Stamps & Stamps, Attorneys at Law, offers a free initial consultation to answer your questions about credit scores and all aspects of bankruptcy. We serve the Dayton area and surrounding counties of Ohio. Call us at (937) 247-6447 or 888-435-0085, or contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code

Tell us about your legal needs

I have read the disclaimer.
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. Close
Privacy Policy


3814 Little York Road
Dayton, OH 45414

Click to activate map


4031 Colonel Glenn Highway
Beavercreek, OH 45431

Map & Directions



205 W. Franklin Street
Centerville, OH 45459

Map & Directions

Accessibility Accessibility
× Accessibility Menu CTRL+U