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Credit Repair FAQs

Can a credit repair company really fix my credit rating?

Everything a credit repair company can do for you legally, you can do for yourself and it will cost you little to no money. If a credit repair company is making claims that seem too good true about improving your credit score for you, they may be making false claims about their abilities and should be avoided. Veitengruber Law can guide you in repairing your credit rating legally.

How can I hire an attorney to help me repair my credit if i’m broke?

Many people do not want to speak to an attorney about their credit repair because they feel they cannot afford it. However, at Veitengruber Law, we offer you a free initial consultation. During this consultation, we can give you a preliminary idea of what can be done to repair your credit. We will be able to give you a good idea of the cost, and we will formulate a payment schedule that works for you. Additionally, we can help you find ways to improve your credit that will be much more productive and effective than if you try to handle it alone, saving you hundreds or thousands of dollars more than your attorney fee.

How do I find the “right” attorney to help me repair my credit?

You want to look for an attorney who has specific legal experience that focuses on bankruptcy and credit repair, and who is respected by other bankruptcy attorneys, as well as the trustees and judges. Look for an attorney who is aware of recent changes in bankruptcy laws as well. Also look for an attorney who will listen to you and ask you questions so he or she can truly understand your case before giving you legal advice. At Veitengruber Law, you will find that we concentrate our legal expertise into a small area of law to be able to provide our clients with the best representation possible. We also pride ourselves on putting our clients first and we have an excellent reputation among our previous and current clients.

How are credit scores determined?

Your credit score is calculated based on years of your payment habits, such as late payments, types of credit, property ownership, number of credit cards, length of credit card ownership, and the ratio of debt to credit. Other factors include judgments, foreclosures, repossessions, charge-offs or collections. The information used to create your score comes from the three credit bureaus: Equifax, Experian and Transunion.

Will filing for bankruptcy ruin my credit rating or improve it?

Filing for bankruptcy will ultimately help you get a clean slate and a fresh start in order to help you reestablish your credit score. While you will no longer be weighed down by your prior debts short term, your score will temporarily decrease. Veitengruber Law works with clients with poor credit and post bankruptcy to improve credit scores quicker than if they wait for them to improve organically.

How soon after filing for bankruptcy will my credit rating begin to improve?

Most people improvement in their credit rating within a year, however every case is unique, and the length of time may be shorter or longer for you depending on many factors, which you can discuss at your free consultation with Veitengruber Law.

Will I be able to own a home again?

Yes. Filing a Chapter 7 or Chapter 13 bankruptcy doesn’t create a barrier to home ownership. Most people can reestablish their credit and purchase a home after a bankruptcy discharge. You could qualify for an FHA Loan two years post bankruptcy and a conventional loan four years post bankruptcy.

Is there any way to erase the bankruptcy from my credit record?

There is no way to erase a bankruptcy from your credit record. Chapter 7 bankruptcy will stay on your credit report for 10 years from the date the bankruptcy is discharged. However, lenders tend to look at your financial decisions after the bankruptcy filing to make their decisions. So as long as you’re dedicated to repairing your credit after the bankruptcy you will be able to get back on your feet. Clients who work hard with the guidance of Veitengruber Law can earn a 700+ credit score less than two years post discharge.