If you've filed for bankruptcy, or are thinking about bankruptcy, it's important to know what effect bankruptcy will have on your credit score and credit report. While bankruptcy will cause your credit score to dip, the extent depends on how bad your credit was before bankruptcy. For many people with major financial problems pre-bankruptcy, filing for bankruptcy won't cause a huge plummet in their score (because their score was low to start with). In any event, there are steps you can take to start improving your credit post-bankruptcy. Below you can learn how bankruptcy will affect your credit, and what you can do to repair your credit after bankruptcy.