Credit Scores and Bankruptcy

Credit Scores and Bankruptcy

“Filing for Bankruptcy may hurt your credit less in the long term than making late credit card payments. Reason: About 35% of your credit score is based on your payment history. If you file for bankruptcy while you still have a fairly decent credit score because you have been making payments on time, your score will be easier to repair than if you file with bad credit caused by missed payments.” Taken From a quote in Smart Money by Barry Paperno, consumer operations manager FICO
See also this article FULL of golden nuggets and secrets about bankruptcy published by MSN Money.