Long Island Bankruptcy Attorney
Bankruptcy Offices throughout Long Island, New York
Long Island Bankruptcy Lawyer Law Firm Overview Attorney Profiles Bankruptcy Evaluation Form Contact Us
Bankruptcy Practice Areas
Long Island Bankruptcy
Alternatives to Bankruptcy
Bankruptcy Exemptions
Bankruptcy FAQs
Bankruptcy Law
Bankruptcy Overview
Consolidate Your Bills
Creditor Harassment
Debt Consolidation vs Settlement
Discharging Debt
Eliminate Your Bills
Filing Jointly
Freezes On Your Bank Accounts
Is Filing Bankruptcy Right For Me?
Life After Bankruptcy
Loan Modification
Tax Debt & Bankruptcy
The Jacoby and Jacoby Difference
The Means Test
Top Bankruptcy Myths
Types of Bankruptcy
Wage Garnishments
Why Hire a Bankruptcy Attorney
Your Bankruptcy Consultation
Bankruptcy Blog
Bankruptcy Videos
En Espanol
Bankruptcy Law

Rebuilding Credit after Foreclosure

How long will it take your credit score to recover after foreclosure or a short sale? The answer to this question will vary depending on the unique circumstances of your financial situation. It typically relates directly to what your credit score was before the foreclosure or short sale.

Unfortunately for debtors with high credit scores, the better your score before your foreclosure or missed mortgage payments, the longer it will take to fully recover. This is because high credit scores require virtually immaculate credit files while lower scores do not. It may take a debtor with a 680 FICO three years to recover to the same score after foreclosure. In stark contrast, it may take a debtor with a 780 score seven years to recover, more than twice as long. The same applies with late mortgage payments. The debtor with the lower score who pays 30 days late may be able to recover in about 6 months, but the debtor with the higher score may face a three-year climb back to 780.

As a borrower dealing with overwhelming debt and mortgage payments that have become difficult or altogether impossible, the most important thing you can do is take a proactive approach. The obvious advice may be to never miss a payment, but when you're struggling you need answers.

The law firm of Jacoby & Jacoby offers experienced legal representation to homeowners and debtors throughout Long Island. The legal team is committed to helping borrowers find the right solutions to their financial woes and achieves this by offering our counsel in such areas as bankruptcy, foreclosure defense, loan modification, collection lawsuit defense and more.

To discuss your particular financial situation and concerns, contact a Long Island bankruptcy and debt relief lawyer at the firm today.

Click Here to watch our Bankruptcy Videos
Fill out the form below to email our law firm.
Leave feedback about our services here.
Bankruptcy Law Visit us on Facebook Follow us on Twitter
Bankruptcy Law
Long Island Bankruptcy Lawyer | Contact Us | Site Map | Privacy Policy

Attorney Web Design

We are a qualified debt relief agency. This is Attorney Advertising. The information on this website is for general information purposes only. Nothing on this or associated pages should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.