Many individuals have heard the old adage that their credit will be destroyed after bankruptcy for up to a decade. Many individuals, however, find this not to be the case after they have gone through a bankruptcy and taken steps to establish their financial future successfully.

There are several reasons to understand that you can recover your credit in some sense in two to three years after filing bankruptcy. You should also be aware that many credit card companies will actually reach out to you immediately after bankruptcy in order to try and win your business. It is best if you avoid this during this time and instead stick to a new financial plan to help you be successful.

By making regular efforts to improve your credit and stay on top of any bills that you presently have, you can take many steps towards establishing good credit all over again. This is true even if you have recently filed bankruptcy. You simply need to commit to a consistent routine that allows you to stay on top of your finances. If you realize that you are in over your head with your current debts, then one of the most empowering things you can do for yourself is to schedule a meeting with a bankruptcy attorney. After you have filed bankruptcy, you can begin to rebuild your credit.

Within several years of on time payments you may be eligible for other opportunities again. Do not avoid filing for bankruptcy in New York because you are under the impression that your credit will be destroyed for ten years or longer. Filing bankruptcy intelligently and taking adequate steps to protect yourself after your bankruptcy has been approved means that you can frequently recover financially in just several years with good planning.

Jayson Lutzky is a Bronx bankruptcy attorney with over 32 years of experience. If you are considering filing a personal bankruptcy, then set up a free in-person consultation with Mr. Lutzky. Call 718-514-6619 to set up your appointment. Visit to learn more about Chapter 7 bankruptcy.