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Video: How will a bankruptcy filing affect my future finances?

Certainly a bankruptcy filing is an extreme negative item that would show up on your credit report. Under Federal law a bankruptcy filing must however be removed from your credit report after eight years. If you file a bankruptcy it is not impossible to get credit in the future, it does become more difficult to get credit in the future. If a debtor can have someone cosign, they can get another credit card. If they're married and their spouse has not filed bankruptcy, the non-filing spouse can certainly get credit and the debtor can sign on on that debt as well.