File Bankruptcy – When and Should It Be The Last Resort?

Man analyzing financial data and charts on computer screen

Bankruptcy should be the last resort to fixing your credit problems. You should know what your options are before you make the decision to file. Filing for bankruptcy is a serious decision that you should think long and hard about. Most of your debts can be removed from your credit record by filing for bankruptcy, but it can also have serious consequences. A bankruptcy will show on your credit reports for 10 years – and meantime, you’ll be unable to secure a loan except at a very high interest rate. You should decide to file for bankruptcy only if you’ve …

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