Bankruptcy question

Bankruptcy question
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#1

If one good credit account is showing on my credit still after filing for bankruptcy. Should I leave it to increase my credit score?


#2

Although bankruptcy relieves you of the debt obligation, it wipes out all your credit history and sets you back to zero. So the one account can help in the area of history. If it’s a closed account it wont help too much (and it wont hurt) but if its open, you can use that opportunity to build up the payment history again which will have more weight as an aged account vs a new account.


#3

While bankruptcy legally erases debt, it doesn’t wipe out your credit history and there’s no reset. Your scores typically drop to the mid-500s and you can rebuild from there.

If you still have an open credit account in good standing, definitely keep using that account to helping your scores. If it’s closed, it’s still contributing to your scores as long as it remain on your credit reports.

Hope that helps!