Will Bankruptcy Affect My Credit?

Bankruptcy will usually always have an effect on your credit, but depending on your current position, can determine what type of effect it may have.  It is probably a safe assumption that your credit is already bad at this point if you are considering filing for bankruptcy.  Bankruptcy will stay on your credit report up to 10 years, however, will wipe out the bad debts that have been bogging down your credit score for so long.  This will allow you to rebuild your credit starting on the first day and possibly boost your credit immediately when all those debts are wiped clean.