While a bankruptcy filing is the most devastating blow your credit rating can take, a discharged bankruptcy has the effect of resetting your credit score. If you also have positive credit activity on your credit report – such as a reaffirmed mortgage, utility bills, etc – then your positive credit score will begin to rebuild relatively quickly.
It is always best to discuss filing for bankruptcy in Arizona with an experienced bankruptcy attorney, such as those at The Frutkin Law Firm, PLC, in Phoenix, Arizona. The bankruptcy lawyers at Frutkin Lawfirm can help you understand what effect a bankruptcy filing will have on your credit scores.
