A bankruptcy can stay on your credit record for up to 10 years, severely limiting your ability to borrow. A lender may require you to have a more substantial down payment, for example, or charge a higher interest rate because you are a greater risk (that is, if you get a loan at all). If you are considering bankruptcy, weigh it carefully and consult with more than one bankruptcy attorney. There may be other ways to manage your debts and protect your credit record.