Menu Close


A common myth about filing for Bankruptcy is that it ruins your credit and you can not get credit again or for a very long time. That myth is completely untrue. Generally speaking, people with bad credit actually see their credit scores improve with the filing of a Bankruptcy. This is simply because the credit scoring system heavily relies in a large part on the debt to credit ratio. Since a Bankruptcy eliminates most debts, the debt to credit ratio improves drastically and in many cases becomes perfect. Such an improvement outweighs the public reporting of a Bankruptcy. Therefore, only good to perfect credit actually drops (credit scores above 600). Everyone else sees their credit scores improve.

REAL ESTATE: FHA now provides financing to purchase a home 2 years out of Bankruptcy. For someone that does not file Bankruptcy, they would never qualify for such financing with a large debt to credit ratio had they done nothing for 2 years.

VEHICLES: Vehicles can be purchased in as little as 30 days after filing. Interest rates are about 12%. Check out

CREDIT CARDS: Credit Cards are available immediatley with a secured credit card. Unsecured cards are also available.  For instance, upon Discharge, Capital One actively solicits their previous customers who discharged their debt, with a $3000 credit limit and slogan, “We want you Back.” Doan Law Firm generally receives over 15 applications a day on our discharged clients!

Finally, don’t forget our negotiated business relationship with to offer a 3 month credit rebuilding program upon chapter 7 discharge or chapter 13 plan confirmation.  This 7 step program generally improves credit to the “great category” (680-720 fico score) within 12 to 24 months.  Thats right, a 720 credit score is possible within 2 years from Bankruptcy!

While charges $1000.00 per client, our special negotiated rate for Doan Law Firm clients is only $50.00!  We also offer the same program to Non-Clients for $250.00.  Contact us now if you are interested and we will get you signed up for the 3 month course at the discounted rate!

For further information regarding our firm or to schedule a consultation with a San Diego bankruptcy attorney please CLICK HERE. Hablamos Espanol.

Written by Michael G. Doan

–  Owner of the Carlsbad Bankruptcy Attorney Office, Michael also manages his business and is a highly skilled San Diego Bankruptcy Attorney with over 18 years of experience as a Certified Bankruptcy Specialist in Consumer Bankruptcy Law by the American Board of Certification.