What effects are Mary and Todd likely to face if they declare bankruptcy? Check all that apply.

Bankruptcy can damage a person’s credit history, making lenders less willing to approve new loans and causing new credit to come with higher interest rates. It also remains on credit reports for years, so Mary and Todd are likely to have poor credit reports. Bankruptcy does not make buying a home easier simply because some debts are discharged, and it does not automatically let them keep cars without making payments.

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