According to smartmoney.com filing bankruptcy can actually increase your credit score. Review the article here.
There are a number of things that can adversely affect your credit score. This includes Bankruptcy. However, Bankruptcy can actually clear up some of your credit. This is because 1) many, if not all, of your debts will be discharged, so you will no longer have debt and other obligations ahead of the creditor checking your credit report; 2) once you have filed Bankruptcy, there are set amounts of time before you can file again, and therefore any credit your potential lender offers you is relatively safe from Bankruptcy; and 3) taking action, even Bankruptcy, shows you are doing something to improve your credit standing.
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