Kenneth H.J. Henjum Law Offices

Family and Bankruptcy Law


(805) 654-7032

Many times my clients will ask me, “What happens after the Bankruptcy?”. My answer: the future is not a bleak as it was 10 years ago.  If you terminate all of your credit in the Bankruptcy, with no car payments, no mortgage, no personal loans to pay, then your future credit report is blank. You do not have good credit or bad credit; you have unreported credit. When future credit manager reviews your report, it will be blank. A way to create better credit is to maintain stable employment and a budget. The future credit manager will look to those areas to see if you can afford the item you want to purchase.

If you have a car payment, house payment, or student loan that you are paying, be sure to pay in a timely manner.  The credit report will reflect those timely payments, and your credit score will improve over time.
The high volume of Bankruptcy filings has created a large pool of people that the credit industry cannot ignore. In other words, if the creditors chose not to grant future credit to all people that have filed Bankruptcy, they would have far less people to whom they could lend money.  The credit industry will lend money to people that filed, but they will usually charge a higher percentage.
The future is always difficult to predict, but if you maintain your monthly payments and a good job, the future is looking pretty good.  
To use reCAPTCHA you must get an API key from