By: Darrell Castle

So, they say that bankruptcy will ruin your credit, huh?

Tell them that Darrell told you they’re wrong. Well, don’t tell them they’re wrong, but just tell them they’re “misinformed.”


You’ll be informed after reading this though.

A bankruptcy DOES NOT ruin your credit score. And that’s not the right way to look at bankruptcy in the first place.

Why do people file for bankruptcy? It’s because they’re behind on their bills and in debt. That means they’ve missed important payments.

What’s one of the main contributing factors to your credit score? On-time payments.

Therefore one would conclude that if you’re in debt, meaning you’ve missed important payments, then you’d ALREADY have a less than stellar credit score.

What bankruptcy DOES offer you is a chance to get rid of that debt that’s causing cycles of missed payments, and provide you with a fresh start to begin rebuilding your credit score.

By filing for bankruptcy, you can discharge your dischargeable debts through Chapter 7 (“straight bankruptcy”), or you can lump your debts into an AFFORDABLE 3-5 year repayment plan (“debt reorganization”). Then, once the bankruptcy is complete, you have a clean financial slate.

This provides a great opportunity – as touched on mildly above – to begin rebuilding your credit score.

At Darrell Castle & Associates, we provide our clients with free access to a wonderful resource – an online credit restoration program – called 7 Steps to a 720. This course teaches users the tips and tricks (the ones the banks don’t want you to know) on how to re-establish and rebuild their credit after a bankruptcy.

You see, folks – a bankruptcy doesn’t ruin your credit. Your credit probably wasn’t good before the bankruptcy. However, a bankruptcy will allow you to wipe away that debt that’s hindering you from building your credit score to your desired rating.

If you’re struggling financially and want to talk to someone experienced about your options, then our FREE bankruptcy consultation is perfect for you. At the very least, you’ll get an honest look at your financial picture and where you truly stand. For free.


To schedule your appointment, call (901) 327-2100 today. Or, you can fill out one of the contact forms on this page (there’s one on the right and the bottom of the page) to have someone from our office contact YOU.

Now go inform your misinformed friends!