Deciding to file for Chapter 7 bankruptcy may have been a difficult choice for you. Like many in New York, you may have worried about the stigma of bankruptcy and the way your family and friends would see you differently. However, your financial situation forced you to overcome these worries, and you now understand how great the relief can be when you are free from your overwhelming debt.
You may have another concern, however. Because you understand that the major credit reporting bureaus receive information regarding your bankruptcy, you may worry the damage to your credit rating will continue to make your financial situation complicated and frustrating. You may be relieved to know that it is possible to begin to rebuild your credit rating almost immediately after your bankruptcy.