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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Best Solution to Fix Your Credit – Credit Repair Software

credit repair

  There are four ways to fix your credit, and here they are, from worst to best: Worst: Credit Repair Services It’s tempting to simply pay a company to “do the work for you,” but all credit repair services (that includes law firms) have two dirty little secrets they don’t want you to know. First, because they charge monthly for their service, they make more money–up to $2,000– if they deliberately drag out the process, which is why they often take two or three years. Second, you actually wind up doing MORE work than if you did it yourself. In …

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Do Credit Counseling Agencies Really Help Your Management?

credit counseling

Credit counseling or debt management services can help you get out of debt by providing you with a debt management plan to pay off your current debts. Never use a for-profit credit counseling agency. Non-profit agencies are available that will not only help you get out of bad debts, but which will also help you consolidate your outstanding loans such as auto and student loans. Your initial contact with a non-profit credit counseling agency will involve a meeting with a credit counselor. He or she will ask you for documentation about your consumer debt and have you fill out an …

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