A Chapter 7 affects your credit in multiple ways, though not always negatively. Depending on your credit score and your debt profile before filing Chapter 7 bankruptcy, your credit may improve 12 months after filing bankruptcy, and there are quick ways to help rebound after filing. If you have multiple hight interest loans and credit cards, your credit usually suffers. You look less attractive to creditors since your debt to income ratio is too high to seem like a good candidate for mortgage or car loans. Relieving yourself of personal liability on these debts increases your attractiveness to creditors and opens you up to better avenues to improve your credit. The filing of the bankruptcy will remain on your credit for 10 years. And although the bankruptcy tick will hurt your credit score, you can rehabilitate your credit after filing. There is no prohibition for obtaining good credit such as secured credit cards, car loans, or even a house loan after filing. You can use these good credit devices to improve your credit after filing. Some solutions to improving your credit include: (1) making small use of credit cards and pay them off each month; (2) keeping track of your credit weekly by subscribing to a service such as Experian; (3) do not use too many credit cards at once and do not apply for too many credit cards; and (4) boost your credit score by including on-time utility and service payments. If you need to speak to an affordable bankruptcy lawyer in Elizabethton, Johnson City, Kingsport, or surrounding areas in Tennessee to see if filing a Chapter 7 Bankruptcy is in your best interest and the long-term effects of bankruptcy on your credit, let me know. Call or click for a free appointment to file a Chapter 7 and get your credit back on track.