Many bankruptcy attorneys do not adequately understand or explain
the effects of bankruptcy to their clients.
Stated simply, bankruptcy is to the credit rating what the nuclear bomb is to war. When you file for bankruptcy, every credit account that you decide
to include in bankruptcy will become an “included in bankruptcy”
account.
Additionally, a bankruptcy filing and bankruptcy discharge
listing will appear in the court records section of your credit
report.
Because so many negative items are attached to the
bankruptcy, it becomes very difficult to remove all trace of the
bad credit. If at all possible, you should avoid bankruptcy.
