Many people do not file bankruptcy because they fear that it will ruin their credit score. The reality is that by the time most people start thinking about filing bankruptcy, they already have a poor credit rating, and for those people, filing bankruptcy may in fact improve their credit rating. There are several reasons why […]
HOW DOES BANKRUPTCY AFFECT MY CREDIT RATING?
I’m often asked about how filing bankruptcy will affect a person’s credit rating. By itself the act of filing bankruptcy has a negative impact on a credit rating. Filing bankruptcy will negatively impact your credit report for 7 years following filing Chapter 13 bankruptcy and for 10 years in a Chapter 7 bankruptcy case. But […]