Is Filing for Bankruptcy Worse on my Credit Than Foreclosure?

Yes, bankruptcy is worse than foreclosure. Both a bankruptcy filing and a foreclosure will damage your credit score and credit worthiness, but you should not be unduly concerned about this. Because the truth is that your credit rating is probably damaged already if you qualify for bankruptcy protection through Chapter 7 bankruptcy or Chapter 13 bankruptcy.

After bankruptcy or foreclosure you can begin to rebuild your credit worthiness with positive steps by the time your Chapter 7 bankruptcy, Chapter 13 bankruptcy or foreclosure is resolved. Without the bankruptcy filing, your damaged credit could continue for years without an opportunity to begin rebuilding.



An experienced bankruptcy law firm is necessary to help you choose between bankruptcy and foreclosure and to help guide you through the bankruptcy process. It is possible to minimize the damage and begin to put the financial hardships behind you. Filing for bankruptcy in Arizona is less frightening with an experienced bankruptcy law firm, such as The Frutkin Law Firm, PLC, in Phoenix, AZ, by your side.