New Delhi, Feb. 4 -- Bankruptcy is a consequence of financial distresses like job losses, business losses, loss of wealth. Bankruptcy impacts one's credit score immensely, generally the credit score also drops by 100-200 points or even more depending on case to case basis.

The bankruptcy record once it is marked stays on the credit report of an individual for 7-10 years. This hence makes it difficult to securepersonal loans or get credit in the future.

Still, rebuilding one'scredit score is achievable with sincere discipline. All one needs to do is to follow a systematic approach in a strategic way.

You need to repay yourpersonal loans EMIs carefully along with ensuring that you don't skip any of the payment dates.

It is important to ...