A bankruptcy will stay on your credit report for 10 years. It will severely damage your credit score and make it difficult to obtain new credit for a long time. But, with time and good financial behavior, you can eventually rebuild your credit score.
Bankruptcy is a last resort for people who are struggling financially. It’s a way to start over with a clean slate by wiping out all of your debts. But it’s also very damaging to your credit score, so you should only consider bankruptcy if you have no other options.
If you do decide to file for bankruptcy, be sure to follow all the rules and regulations, because there are serious consequences if you don’t. And be prepared for the fact that it will