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NASHVILLE, TN, August 03, 2014 /24-7PressRelease/ -- The Nashville bankruptcy attorneys at Clark & Washington wish to explain the relationship between filing for bankruptcy and your credit score. Many people file for bankruptcy thinking that it only brings about a clean slate, but the process has other effects too. One of those effects is the impact on your credit score.
How Bankruptcy Affects Credit Scores
The effects of filing for bankruptcy range dramatically from person to person. Depending on where you score stands before your bankruptcy filing, you could stand to see a large or minimal decrease to your score.
If you already have multiple delinquent accounts, collection accounts and other derogatory items on your credit report, then you will see a decrease in your score, but the decrease will not be as steep as you might expect. On the other hand, if you have immaculate credit and your score is good prior to bankruptcy, you will take a significant hit and your score will dramatically decrease immediately after filing.
The impact that filing for bankruptcy has on your credit score lasts for approximately seven to 10 years. It takes this long because the bankruptcy will stay on your credit report for this duration of time and be visible to any creditors during this period. Repairing your credit is time consuming, tedious and has the potential to be extremely stressful. Having an experienced Nashville bankruptcy lawyer work with you through your bankruptcy process can help you stay organized, create a plan to get you back on track and ensure that the process is completed properly and without error.
For more information on Nashville bankruptcy and your credit score, visit http://www.bankruptcyattorneynashville.com.
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.
For more information, visit http://www.bankruptcyattorneynashville.com.
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