What to Do When You Have a Terrible Credit Score

As the head of a leading bankruptcy law firm in Memphis, I want to share some good news. Even if your credit score is terrible and you’re facing a mountain of debt, there is hope.

We can find ourselves in scary financial situations even when we’re doing everything right. An emergency, a lost job, a medical crisis; these things happen to the best of us. Suddenly the bills arrive, and they’re overwhelming.

You know you can’t make even the minimum payments. Your credit score tanks while the interest piles up. No one seems to understand  how desperate your situation really is, or how bad it feels.

A lot of people believe there’s no option at that point. Many of my clients used to feel that way. They gave everything to make the monthly payments, but all that work barely covered the cost of interest. Many spent their savings in order to keep their home or car. Others took out payday loans that only made things much worse.

If you’re at this point, you may think your only option is to pay off all the debt, even though that seems impossible. So what else can you do?

The Secret to Improving Your Credit Score

Because there is a negative stigma around bankruptcy, many people don’t understand what a powerful tool it is.

The truth is, it’s possible to improve your credit after bankruptcy even faster than if you never filed. This is because it’s much easier to start fresh and make the right choices when you aren’t totally overwhelmed with debt in the first place.

It’s a myth that bankruptcy destroys your credit. Sure, that may be true for people who already have a great score. But if you’re in so much debt that you can’t pay it back, your credit score is probably already low.

Because of this myth, people will do anything to avoid bankruptcy. This might include draining their savings or getting bad loans that lead them even further into trouble. But for many who file bankruptcy, they’re able to save their retirement, avoid further debt, and have a fresh start totally free of credit card and medical bills.

It all starts with speaking to an experienced lawyer at a bankruptcy law firm Memphis can rely on.

If You Want to Improve Your Credit Score, Call the Bankruptcy Law Firm Memphis Trusts.

At my bankruptcy firm in Memphis, TN, I offer a free credit program to help you improve your credit after bankruptcy. You may think I’m talking 5 years, or that I mean improving it to a C or D rating. But no – this program helps you improve your credit to an A rating in just one year. Yes, even if you’ve filed bankruptcy.

If you’re still unsure, ask yourself this:

• How much easier would it be to build your credit back if you didn’t spend every dollar on interest rates, penalties, and fees?
• If you had no debt at all, how much better could you plan your life and make the right choices?

Bankruptcy stops foreclosure and repossession. It stops wage garnishment and gets rid of medical and credit card debt. It can save you from payday loans and aggressive creditors. It’s incredibly powerful.

I’ve helped thousands of people recover from bankruptcy much stronger than they were before they started. I can help you, too.

If you’d like to learn more, I’d be happy to talk through your options with you and answer your questions. Contact me today or call my office at (901) 327-2100 to discuss your situation for free. There are absolutely no strings attached.