Rick Flume, Bankruptcy Attorney

09/16/2025

2 years to qualify for an FHA home loan!!

I gets lots of questions about how bankruptcy affects a person's credit. The first was a surprise for me: each month, clients that recently filed have told me that their credit scored increased by about 120-130 points within 3 weeks of filing their bankruptcy case. Next, I've been surprised about how many of my clients that were able to get approved for a car loan while in an active bankruptcy case. Third - here's the biggest surprise - you only have to be outside of a bankruptcy case two years to qualify for an FHA home loan.

03/09/2025

My clients, Mr. & Mrs. Torres, were surprised with I informed them that they would most-likely get approved for a car loan soon after filing a Chapter 7 bankruptcy. They were surprised, because they always heard that bankruptcy messes up your credit. I gently corrected them and encouraged them to "update their records" to what really happens after filing bankruptcy: your credit gets cleared up, quickly. They filed a Chapter 7 bankruptcy on 3-5-2025, and then on 3-8-2025, they bought a new truck with financing. I new that bankruptcy clears up credit quickly, but I, too, was surprised that it occurs that quickly.

12/03/2024

My client was surprised when I informed her that she would most-likely get approved for a car loan. I told her that the myth of not being able to qualify for a car loan after bankruptcy is just that: a myth. I told her that her credit score will increase about 120-130 point in a few weeks after filing bankruptcy, and her debt-to-income ratio would greatly improve. Here's a photo of her in front of her Ford Explorer that she bought just 35 days after filing a Chapter 7 bankruptcy.

11/26/2024

A client told me, yesterday, that she felt like she would never be able to get a car loan after filing bankruptcy. In response, I told her that numerous clients informed me that the credit score increased by 120-130 points in less than 30 days after filing bankruptcy. I also told her that various clients of mine obtained a car loan just a couple of months after filing bankruptcy. Here's a photo of some clients of mine that obtained a vehicle loan just 52 days after filing bankruptcy.

11/24/2024

54 days after these clients filed bankruptcy in June, they qualified for the purchase of a new vehicle.

I post this to dispel the myth that, if you file bankruptcy, you cannot get a car loan for a long, long time.

11/22/2024

I had some clients, recently, that thought they had to hold onto their existing vehicle, because they (incorrectly) thought that they could not get another vehicle due to filing bankruptcy. I informed them that they were free to find a better deal, and I referred them to a lady that has helped several of my clients find a better car/truck deal. Here's a picture of them with their new truck, just 4 months after filing bankruptcy.

11/19/2024

Lots of my clients are worried that they will not be able to get a vehicle loan after filing bankruptcy. That idea may have been true a long time ago, but not now.

Typically, clients tell me that, within 30 days of the filing of their Chapter 7 bankruptcy case, their credit score increased by about 120-130 points! The reason for that is their debt-to-income ratio looks much better.

Here is a photo of a client that got approved for a vehicle loan just 29 days after filing bankruptcy.

06/08/2022

Scene In SA magazine asked San Antonio lawyers to vote on the best lawyers in San Antonio in their respective areas of specialty. I would like to thank all of the lawyers that voted for me for consumer bankruptcy. It is the second year in a row. I really appreciate it.

01/14/2022