Credit Counseling Demystifies Credit After Filing Bankruptcy

You may be surprised to learn that after filing bankruptcy, your credit score may actually improve. After bankruptcy, you no longer owe money to unsecured creditors. In other words, rather than being over your head in debt, the bankruptcy erases your debt, which in turn increases your credit score. Remember that bankruptcy remains on your credit report for at least 10 years. However, that doesn’t make it impossible to secure new credit, although you can expect to pay subprime interest rates. Interestingly, a recent study involving people who filed bankruptcy shows that these...

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