Many people think that filing bankruptcy ruins their credit for life and is this horrible thing. Yet no client has ever called me afterward to ask why I didn't talk them out of it; in fact, they say, it's one of the best decisions they ever made. There is no absolutely certainty here, as there is no guarantee of what your credit score will be, say, a year later, as that depends on many factors other than the bankruptcy and the disappearance of that debt, such as stable address, consistent job, and not going into debt all over again--which is what I think they might do when this is their concern!
If you choose to file bankruptcy, it should not be to 'clean up your credit' or 'improve your credit score' and you should be far beyond being concerned what that credit score it going to be. Rather, it should be because you've got a whole bunch of debt and there's no way you can pay it off within the next five years. Additional reasons to that might be that you are tired of creditors calling you and driving you nuts and/or you are concerned about being sued and having you pay garnished.
If you qualify for Chapter 7 bankruptcy, which is dependent upon your income and household size, you can get out of all your credit card and medical debt, virtually everything except for student loans, child support, and back income taxes, if you even owe any of that. If you have had a home foreclosed upon or car repossessed that you were upside down and the creditor is coming after you for the balance, you can get out of that too and be debt free--have a clean slate.
If you are worried about giving up your automobile, well no, you can typically keep that if you continue to make your payments and still owe that debt as if you hadn't filed bankruptcy on it. Similarly, you can keep your home subject to the mortgage if you have one and if you wish.
If you have any questions or wish to determine if you qualify, contact me at 918-230-5844 or visit me online at https://oklahomabankruptcyattorney.net
Joel K. Mitchell, Attorney
MITCHELL LAW OFFICE, P. C.
1318 W Main St, Collinsville, OK 74021
& 1408 S Denver Ave, Tulsa, OK 74119
Joel K. Mitchell, Attorney-at-Law