Is filing bankruptcy affect my credit rating?
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Filing for bankruptcy will negatively impact your credit rating. While bankruptcy initially lowers your credit score, it can be the first step to eventually repairing your credit over time. The document provides a link to a website for bankruptcy lawyers that may offer helpful information related to filing for bankruptcy.
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Bankruptcy is a federal court process that allows debtors to eliminate debts through selling assets or repayment plans (Chapter 7 or 13). Some debt relief companies take advantage of desperate people by charging large fees and providing misleading information about bankruptcy. Filing bankruptcy can negatively impact credit scores and future financial opportunities like loans and housing. It is better to avoid bankruptcy by negotiating with creditors for debt reduction, getting a low interest loan for consolidation, contacting creditors to explain your situation, or seeking help from debt management agencies to create a repayment plan. With the right strategies, people can resolve debt issues without declaring bankruptcy.
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Bankruptcy is a federal court process that allows debtors to eliminate debts through selling assets or repayment plans (Chapter 7 or 13). Some debt relief companies take advantage of desperate people by charging large fees and providing misleading information about bankruptcy. Filing bankruptcy can negatively impact credit scores and future financial opportunities like loans and housing. It is better to avoid bankruptcy by negotiating with creditors for debt reduction, getting a low interest loan for consolidation, contacting creditors to explain your situation, or seeking help from debt management agencies to create a repayment plan. With the right strategies, people can resolve debt issues without declaring bankruptcy.
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Is filing bankruptcy affect my credit rating?
- 1. Is filing bankruptcy affect my credit rating? Filing Bankruptcy will affect your credit score. Bankruptcy can be the first ste ep in repairing your credit score. I can give you information related to bankrup tcy lawyers http://www.filebankruptcyhouston.com which is told me by one of my f riend. SOLUTION Find the best solutions and providers for you at: