Re-Establishing Credit After Filing for Bankruptcy

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Re-Establishing Credit After Filing for Bankruptcy

Many clients who are considering bankruptcy are concerned that filing for bankruptcy will damage their credit. While it’s true that filing for bankruptcy will stay on your credit report for 10 years, the reality is that many clients who file for bankruptcy have not been making payments for many years and their credit is already quite poor. Once you file for bankruptcy, usually within two to three years, many clients find that their records are cleaned and the only thing negative on their record is actually the bankruptcy. They’ve been able to re-establish their credit and after two to three years are in a better position than they were prior to filing for bankruptcy. When it comes time to re-establish credit, it is important to know that you are going to be offered credit soon after your case closes. Some of these credit cards and other offers are going to have terms that do not benefit you in the long run. Many are subprime lenders who want to take advantage of your bleak financial situation. It is important to be careful not to find yourself back in trouble financially. Velasco Law Office believes that the best way to reestablish credit is to pay your bills on time. After 10 years, the bankruptcy filing is off your record and you can work to get a good credit score again. When you are in a dire financial situation, it is important to consult with an attorney to help you through your legal issues.

Juan C. Velasco, Esq. is a trusted attorney who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you. 


About the Firm

Juan Velasco, Esq. has over 25 years of experience passionately practicing law. Juan Velasco provides legal counsel to individuals, corporations, and institutions concerning substantial legal and financial matters.

Velasco represents clients in formal and legal proceedings, including negotiations to ensure amicable settlements that benefit their needs. He has over 2 decades advising clients concerning legal options available in complicated transactions. Mr. Velasco has drafted countless contracts and supporting documents for his New Jersey clients. He responds to inquiries, assisting clients in determining the most favorable position. He also provides legal guidance concerning appropriate business actions.


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1870 Route 27 – Suite 202
Edison, New Jersey 08817

Our offices are conveniently location on Route 27 in Edison, New Jersey, Attorney Velasco is ready to actively protect your interests. If you are in need of a passionate and effective lawyer, contact Velasco Law Office.

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