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Attorney James Grew
(781) 520-1758

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Attorney James Grew
(781) 520-1758

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Directions to Bankruptcy Courts in Massachusetts

Bankruptcy and Your Credit

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What is Chapter 7
Bankruptcy

What is Chapter 13
Bankruptcy

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Terms of Use at This Website: The information at this website is not legal advice. Every legal case is different and the statements on these pages do not address your specific circumstances. If you have questions about how bankruptcy law applies to your specific situation Contact Attorney Grew for a free consultation. Call (781) 520-1758.

Bankruptcy and Your Credit

For most people contemplating bankruptcy, their credit score is already low because of missed and late payments. Filing bankruptcy does negatively effect their credit by lowering your credit score and remaining on your credit report for at least 7 years. The good news is that once you have received a discharge, many lenders are willing extend you credit because they consider you a "good risk." A newly discharged debtor: (1) has little or no debt; (2) has attended credit counseling; (3) is motivated to rebuild their credit score; and, (4) is prohibited from filing bankruptcy again for seven years. These four points make you a much safer risk than a consumer who is "maxed" out to his or her credit and can barely make a minimum payment. Thus, given most people credit condition when filing a bankruptcy, the net effect is less than most people think.

Re-Establishing Your Credit After Bankruptcy

As mentioned above, creditors are in the business of lending money and studies have indicated that they benefit from lending to individuals recently discharged in bankruptcy. You can improve you credit rating and ability to receive a low interest rate and increased availability of credit by:

Open a checking and savings account.

Open merchant credit accounts and make on-time payments
each month (i.e. Target, Sears, Home Depot)

Chapter 13 "repayment plan" cases

Creditor / Debtor compromise Settlements

Consumer Bankruptcy

341 Creditor Meetings

Counsel for objection hearings Credit Card Personalization

Credit Card Printing

Credit Report Disputes

Credit Reporting Disputes
Bankruptcy Discharge

Counsel for Exemption Cases

Attorney James Grew, 999 Broadway, Ste. 301, Stonehill Corporate Ctr., Saugus, Ma 01906
Telephone: (781) 520-1758
Fax: (781) 231-3273

Advertising Disclaimer. In accordance with rules established by the Supreme Judicial Court of Massachusetts. This web site must be labeled "advertising." It is designed to provide general information for clients and friends of the firm and should not be construed as legal advice, or legal opinion on any specific facts or circumstances. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

This office is owned and operated by Attorney James Grew, A Massachusetts licensed attorney. Attorney Grew handles bankruptcy, debtor rights, foreclosure and family law cases throughout Essex County, Middlesex County and Suffolk County, the North Shore and Metro Boston including the following communities: Salisbury Ma. 01952, Newburyport Ma. 01950, Newbury Ma. 01951, Georgetown Ma. 01833, Danvers Ma. 01923, Topsfield Ma. 01983 , Middleton Ma. 01949, Hamilton Ma. 01936, Essex Ma. 01929, Beverly Ma. 01915, , Salem Ma. 01970, 01971, Peabody Ma. 01960, 01961, Lynn Ma. , Nahant Ma.01908, Swampscott Ma. 01907 , Marblehead Ma. 01945, Lynnfield Ma. 01940, Saugus Ma. 01906, Wakefield Ma. 01880, Reading Ma. 01867, Stoneham Ma. 02180, Melrose Ma. 02176, Everett Ma. 02149, Revere Ma. 02151, Woburn Ma., Chelsea Ma. 02150. and Boston Ma