Although bankruptcy can be a helpful tool for getting your finances back on track, there are long term effects to your credit ...

Jay Swanson went into debt before he was old enough to vote. Now the 39-year-old is living out his lifelong dream in Paris, ...

Some borrowers told Newsweek their scores dropped by as much as 200 points when their loans became delinquent while they were unaware they missed payments.

Depending on the situation and your credit history, filing for a personal bankruptcy can wipe up to 200 points off your credit score, according to Experian, and the filing stays on your credit ...

Below, CNBC Select asked Rod Griffin, Experian's senior director ... they might have had to go through bankruptcy as a result and now has a poor score, but for a very valid reason.

Your credit score is usually based on the information on your credit report from one or more of the three major credit bureaus (Experian ... of late payments or bankruptcy, these won't be erased ...