Does Bankruptcy Wipe the Slate Clean?
Many bankruptcy attorneys apparently do not adequately understand or explain the effects of bankruptcy to their clients. Stated simply, filing for bankruptcy is the absolute worst thing you can do to your credit rating. When you file for bankruptcy, every credit account that you decide to include in bankruptcy will become an “included in bankruptcy” account. That means each file included will remain on your credit reports, and each file will have an additional reference stating that it was included in the bankruptcy. 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.
