Good credit is important for a lot of life necessities. You need it for getting a house or apartment, car loans, and sometimes even when applying for jobs. People with lots of debt often have bad credit scores because of missed payments, high credit utilization rates, charge-offs, collections, and even judgments.
Filing bankruptcy is usually good for credit because it stops the negative reporting such as collections, charge offs, and new judgments, and reduces many types of debt to $0. Most of my clients have a BETTER credit rating 1 or 2 years after bankruptcy than they did before filing.
Click the Image below to see the infographic

A credit report shows how much debt a person has and whether their payments have been made on time. A credit rating is a score that shows how likely a person is to repay their debt in the future.
Bankruptcy discharges most types of debt, so after bankruptcy your credit report will show that you have less debt. In most cases, it will also show that after the bankruptcy you have been continuing to pay things like student loans, mortgages, and car loans. Paying your good debt on time shows that you are likely to repay debt in the future, so your score gets better quickly.
HOW LONG UNTIL MY CREDIT RATING GETS BETTER?
Research has shown that most people have a 720 credit score approximately 2 years after filing bankruptcy. Here are the stages in building credit through the bankruptcy process. One client’s success building a 700 credit score in 5 months after bankruptcy.

One client’s success building a 700 credit score in 5 months after bankruptcy.
By taking some simple steps, Tasha was able to increase her credit score dramatically in just a few months after bankruptcy.
Walker & Walker wants all of our clients to have good credit after bankruptcy. After your discharge, we will review your credit reports and dispute any errors for free. If the errors don’t get fixed, then we will bring a civil action to make the companies fix your credit and THEY will pay us for our time. We will also coach you on how to quickly improve your credit score for free!