Question

What happens to your credit score when you declare bankruptcy?
(1 point)
It goes up because you are no longer building up missed payments.
It goes down because you have shown that you are not able to pay what you owe.
It goes down as you no longer have any credit cards on file.
It goes up because it shows that you are taking care of your debt.

Answer 1

It goes down because you have shown that you are not able to pay what you owe.