A bankruptcy can have a devastating effect your credit score. In fact, for some lenders, a bankruptcy listing on your credit reports is the only thing they need to see in order to determine that you are completely unworthy of credit.
The scary thing is that for a surprising number of Americans, the bankruptcy listed on their credit reports simply should not be there. Read on for helpful tips to weather the post-bankruptcy storm.
So is Bankruptcy Removal Possible?
A bankruptcy listing can remain on your credit reports for up to 10 years. But remember that this period represents only the MAXIMUM (and not the minimum) time frames. In other words, the credit bureaus must automatically remove bankruptcy-related items from your credit reports once the designated time periods have passed.