Alpena, MI Bankruptcy Law Firms & Lawyers

It is one of the great myths of modern society that bankruptcy "destroys" your credit.  Bankruptcy will affect your credit, but the extent to which it affects it depends on a number of factors, not the least of which is how bad your credit is to begin with.   If you've been writing bad checks, your credit score is probably already pretty bad.  Bankruptcy is not likely to drop your score much further.   Your credit score is only one factor lenders look at when determining to give you a loan or your interest rate, etc.  Other factors include your income, job status (how long you've been with your current employer) and many others. Bankruptcy enables you to start rebuilding your credit immediately (upon completion of the bankruptcy) whereas without bankruptcy all kinds of time periods run for bad debts staying on your credit report (late payments, judgments, foreclosures, etc.) Student loans are generally not dischargeable in bankruptcy, but you should consult with a bankruptcy attorney in your area to get more input on your specific situation and enable you to properly weigh all the costs and benefits of filing a bankruptcy case. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.