Foreclosure or bankruptcy, which one has...

[MR. FRC]

...a greater affect on my credit score?

[divers_godeeper]

they will both have a huge impact on your credit. As far as which one is better......thats something you will have to decide. I know the BK will stay on your credit for 10 years....the forclosure I dont know. I know people who have bought homes again with either one on there credit. The interest rates are high but they are still abole to buy a home!

[EmeraldIsle]

Both are equal basically.

[I_know_it_ALL]

Foreclosure and Bankruptcy are both bad. Foreclosure is actually worst. At least bankruptcy after 3 years you can get a car loan, for Foreclosure your not likely qualified for anything until after 7 years. Foreclosure is worst though.To the answer above: Even if bankruptcy last for 10 yrs it won't count agianst you. Your record can only go back 7 yrs max and then everything will be erase from your credit history (collections). It's the law.