If you file for bankruptcy after someone has sued you over a debt, the lawsuit will probably still show up on your credit report.
But in my experience as a bankruptcy lawyer in Memphis, people who ask this question are thinking about their credit the wrong way.
If you have enough debt to get sued, your credit is probably already bad. And while bankruptcy doesn’t help your credit score, it can get you to a place where you’re able to deal with your finances again, so you’re ready to get your credit score back to a good rating.
If you’re worried about how bankruptcy may impact your credit, make sure to hire an attorney who cares about it. Too many bankruptcy lawyers push clients through like an assembly line and don’t follow up to make sure they get back on their feet after bankruptcy.
Our firm has two excellent resources to help our clients improve their credit score after bankruptcy:
1) We offer a program to help you rebuild your credit to an A rating of 720 or higher, even after a bankruptcy. This program is free for all our clients.
2) I’ve written a free report you can download called Life After Bankruptcy, which covers a lot of the most common credit-related questions people ask, including how to buy or rent a house, purchase a car, get a job, and more.
My main point is this: If you’re stuck with a ton of debt you can’t pay, getting your finances in order should be your first priority. Then you can rebuild your credit, which is a simple process when you have a supportive team on your side.
To talk with a Memphis bankruptcy attorney about your situation, just give me a call at 901-327-2100 or contact us online. The conversation is free.