Creditors and Bankruptcy/credit score


I used to have great credit, but then due to a bad decision I had trouble paying bills on time. Many of my accounts became delinquent and went into collections.

Now I'm afraid to even look at my credit score. I received many collection calls. Constant calls. The accounts were delinquent beyond just a few days. I assume my credit score is now a 0.

Is there hope for me? I'd like to own a house in the future. Will all of this negative crap come off of my reports in 7 years? So if I start paying my bills in a timely fashion and severely limit my credit mistakes, will my credit basically go back to where it was?

I'm 37 now and would like to try to get a loan for a house when I'm 45 or so. Assuming that everything else works out in between, of course. I may die tomorrow. I know that it's utterly pointless to try and get a loan before the 7 years is up.


Dear John,

You are not alone. There are so many other people in the same situation that you are in. You will probably gain peace of mind if you will go see a bankruptcy lawyer right away for advice. Bankruptcy is an amazing fresh start. It sounds like that is what you may need need.

Ignoring the debts is rarely a successful strategy. Here's why. Many creditors will sue you and get court judgments. After that, they can garnish your wages, and have assets seized. Bankruptcy can stop all that.

Bankruptcy will stay on your credit for 10 years. I venture to say that your credit will be better after bankruptcy than the way your credit is right now.

Home loans are readily available to those who are otherwise qualified 4 years after a bankruptcy filing, and and often available even 2 years after bankruptcy if there is a good excuse.

You may gain some immediate peace of mind from a blog article I wrote. See,  

Creditors and Bankruptcy

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Los Angeles Bankruptcy Attorney Leon Bayer


I can answer all questions relating to debt collection, credit reporting problems, credit scores, bankruptcy, debt settlements, debt settlement scams, and dealing with debt collectors. For many years I have been one of your volunteer experts for the topic "Bankruptcy Law". I would like to receive more questions. I'm thinking that many relevant questions get asked under this catagory as well as my own. See my stats, below: Los Angeles Bankruptcy Lawyer Leon D. Bayer U.S. Available View Profile Ask A Question View Past Answers Knowledgeability9.96 Clarity of Response9.93 Politeness9.97 Response Time(hr)14.6 --Last 90 Days(hr)7.6 Total Questions1119


34 years as a practicing bankruptcy attorney, published book author on topics of bankruptcy and foreclosure. See,


BA degree, J.D., admitted to California Bar in 1979.

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President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000

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Over 15,000 bankruptcy cases.

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