|
Bankruptcy filings typically stay on your credit report for a period of ten (10) years. Just because bankruptcy is on your
credit report that doesn't meant that you won't be given credit though. Think of a credit report as a financial diary, that
tells creditors who are thinking of lending you money what you have done over the last seven - ten years.
If you work hard to reestablish your credit rating, what you did a few years ago weighs less against you. In order to
improve your credit scores, you must pay all bills on time. Don't max out any open lines of credit you have. If you want
to buy a house or a car, save up a down payment.
For more information, you can read some more articles:
How Long Does Bankruptcy Stay On Your Credit Report?
Know Your [Fico Score] Numbers
Why You Should Not Rely On A Debt Management Plan Or Credit Counseling To Protect Your Credit.
|
