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What Happens To Your Credit Score

When considering filing bankruptcy, you will also want to think about what it does to your credit score. Bankruptcy will affect your credit score, but it won’t necessarily ruin it. And, luckily, there are ways to repair your credit score after you file for bankruptcy. Below is what to expect after filing for bankruptcy:

  • Bankruptcy can cause your credit score to plummet
    • Declaring bankruptcy could have a negative impact on your credit score. However, if the effect is adverse, there’s a good chance it won’t cause it to drop much more than it already has. The exact effect varies from case to case.
  • How long will it remain on your report?

Although bankruptcy will remain on your report for 7-10 years, that doesn’t mean that it will affect your employment opportunities. And, you will have the ability to rebuild your credit score with those who have also filed for bankruptcy.

Covid and Bankruptcy

As part of the social distancing protocol, several businesses and well-established organizations in states all across the globe were legally obligated to follow through with

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Steps To File

Financial inventory First, you should gather all of your financial information. Be as detailed as possible about debts, income, assets, property, and monthly household living

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