If there is one aspect of bankruptcy that many debtors focus on when considering their options, it is the hit to their credit report that seems the most daunting. Many people believe that filing Chapter 7 or Chapter 13 bankruptcy will be devastating to their credit, ruining any chances for a financial future. You may be wondering: How Does Bankruptcy Affect My Credit Score?
Filing for bankruptcy in California, or anywhere, will severely impact your credit score, potentially dropping it by hundreds of points, and a bankruptcy can stay on your credit report for 7-10 years depending on the type of bankruptcy.
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