 TITLE: Should You Hire a Bankruptcy Attorney? CONTENT: How Bankruptcy Affects your Credit\n----------------------------------\nA bankruptcy is a major negative event in your credit history, and it typically has a deep, lasting negative effect on your credit scores and your ability to get new credit. A Chapter 7 bankruptcy stays on your credit report for 10 years from the date you file bankruptcy, while a Chapter 13 bankruptcy remains for seven years after the filing date.\nA bankruptcy will have a negative effect on your credit scores as long as it appears on your credit report, but the severity of its impact on your scores will diminish over time. Some lenders refuse to consider applicants with bankruptcies on their credit reports, while others will consider applicants several years after a bankruptcy has been completed.\nThe credit consequences of bankruptcy may be severe, but they are not permanent.\nWith time and persistence, it's possible to rebuild your credit after bankruptcy and once again enjoy the ability to borrow and repay money responsibly. If you have a bankruptcy in your recent past, it's a good idea to keep tabs of your credit scores and track your recovery progress. END