Bankruptcies Can Remain in Your Credit File for 10 Years

question 167

True/False

Bankruptcies can remain in your credit file for 10 years.

---

Definitions:

Unemployed

Refers to individuals who are capable of working, actively seeking work, but unable to find a job.

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, leading to a decrease in purchasing power.

Period

A length of time during which a series of events or an action takes place or completes.

Disinflation

The process of slowing down the rate of inflation, resulting in a decrease in the general price levels of goods and services over time.