Will personal bankruptcy necessarily lower your credit score or could it just negatively impact it?
Explanation from Alloprof
This Explanation was submitted by a member of the Alloprof team.
Thank you for your question!
A personal bankruptcy will lower the credit score to its lowest tier for at least 6 years after the bankruptcy. However, it is possible to get it back up if good habits are developed over time. It takes a lot of time to get back up, but it is definitely worth it as a credit card is a useful tool if used correctly.
Hope that answers your question!