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Is Bankruptcy the Right Choice?

Before filing for bankruptcy you should educate yourself as much as possible. Determine what is dischargeable and what is not - does bankruptcy absolve enough of your liabilities? You should also be aware that a bankruptcy filing could stay on your credit record for ten years. If you do choose to file for bankruptcy it is strongly recommended that you obtain a copy of your credit report from the three major bureaus to ensure that you account for all your creditors when filing.

You may want to first consider a less drastic approach called debt settlement. This can help you dramatically reduce or get out of debt without the repercussions of a bankruptcy.


 



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