How does bankruptcy affect my credit rating?

The fact of bankruptcy will remain on an individual’s public record for up to 7 years although most credit bureaus remove reference to a first time bankruptcy after only 6 years.  The credit rating associated with bankruptcy is R9 and is the same credit rating used if your debts have been put into collection, your debt is more than 120 days past due and considered as bad debt or you moved and did not provide a new address.