Bankruptcy can be an escape route if you’re drowning in debt. Bankruptcy can give you some financial relief by allowing you to discard or repay debts, but it can also severely damage your credit, causing your score to plummet. Bankruptcy is unfortunately surrounded by a number of misconceptions and myths.…

One of the most damaging things that can happen to your credit is filing for bankruptcy. Once a bankruptcy appears on your credit report, it can negatively impact your credit score for years. Chapter 7 bankruptcy stays on your credit report for 10 years, while Chapter 13 bankruptcy stays on…