Many individuals in Oregon and elsewhere have experienced the struggle of dealing with overwhelming amounts of debt. When exploring their options, many may consider seeking relief through bankruptcy, but they might have concerns about how a similar decision will affect their credit. Although filing for bankruptcy will have an impact on an individual’s credit for a set period, it could still be the correct path with which to pursue financial relief.

Depending on the chapter that is selected, a bankruptcy will remain on one’s credit report for up to seven to 10 years. A similar process may also have an impact on a person’s credit score, and those who file for bankruptcy may experience issues in obtaining credit after filing. However, individuals who are suffering due to substantial financial struggles may already be experiencing challenges in this area, and for some, a bankruptcy could be the healthiest financial option available.

After filing for bankruptcy, one may also be able to begin taking steps to improve his or her credit score. There are lines of credit that may be available for those who are facing similar circumstances, which could help them work toward establishing a positive payment record. However, some may have concerns about taking on debt after bankruptcy, and seeking guidance from someone with experience in such matters prior to deciding on a path is advisable.

Individuals who are in search of guidance on how to pursue relief from debts could benefit from speaking with a bankruptcy attorney. An attorney can provide a client in Oregon with advice on the available options, which could prove essential to choosing the correct financial path. By thoroughly evaluating the situation, an attorney can assist a client in pursuing the most favorable outcome possible regarding his or her financial future.

Source:, “How to Rebuild Credit After Bankruptcy“, Maurie Backman, Dec. 22, 2017