6 Myths About Bankruptcy and Credit Scores Debunked
You might have heard that bankruptcy gives you a clean financial slate, but that’s not exactly accurate.
Get the scoop on common bankruptcy myths.
Myth: Bankruptcy ruins your credit forever—or at least an entire decade.
Truth: The public record associated with a Chapter 7 bankruptcy will remain on your credit report for as long as 10 years.
Myth: A clean credit history and a high credit score means you’ll be less impacted by a bankruptcy.
Truth: Bankruptcy will have a huge negative impact on your credit, and a previously positive payment history doesn’t change that.
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