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FACTS ABOUT BANKRUPTCY
MYTH : My credit is already ruined due to late loan payments, so I might as well file for bankruptcy.
FACT: A credit report with a bankruptcy filing on it is much worse than a report that shows some late payments. And, delinquencies on your credit report are much easier to remedy than a bankruptcy (there’s not much you can do about that black mark). Contact us <link to Contact us page> or visit our credit repair page <link to Credit repair page> and our debt negotiation <link to Debt negotiation page> page for more information about dealing with delinquencies and other negative credit marks.
Types of Bankruptcy
- Chapter 7 – where the debtor's unprotected assets are converted to cash and disbursed to the debtor's creditors to repay part of the debt owed
- Chapter 13 – affords the debtor the opportunity to repay all or part of his debts over an extended time period
Free Consultation
If you’re considering filing for bankruptcy, we encourage you to first contact us for a free consultation. We’ll help you determine if there are any other ways to improve your debt situation that won’t have such long-lasting negative effects as bankruptcy. For a free consultation, click here, or contact us. There are no strings attached – you’re under no obligation.
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