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lamarioc

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Does bankruptcy bring your score down?

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Dang- there's no need to ride on the guy like that. :/

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Yes and No...

Yes, it generally does, because it's a big, fat derogatory mark on yor credit reports. Then again, by the time you reach the point of bankruptcy, you already have a lot of derogatory reports, so...
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However, there is one instance where it helps your credit: If you do a Chapter 13 bankruptcy, *and* your home and auto are exempted (they usually are), *and* you faithfully pay the mortgage and car loan each month... your credit actually will be higher at the end of the bankruptcy term (usually 5 years). Two years post-bankruptcy, and the bad stuff (including the Chapter 13) falls off, while the good stuff (your mortgage, car loan, and post-bankruptcy credit cards) remain.

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You joined this site in 2011, a year before I did, and haven't taken the time to read the articles hereso you can understand the aspects of credit?  Until you understand exactly how credit works (and it is not difficult) you will be like millions of others who continue to make serious financial errors just as I did before reading the articles here.

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