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.

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Get the scoop on common bankruptcy myths.

Myth: Bankruptcy ruins your credit forever—or at least an entire decade.

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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.

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Truth:  Bankruptcy will have a huge negative impact on your credit, and a previously positive payment history doesn’t change that.

To see more debunked myths, swipe up to learn more.