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Does bankruptcy wipe the slate clean for a second chance?
Many bankruptcy attorneys do not
adequately understand or explain the effects of bankruptcy to their
clients. Stated simply, bankruptcy is to the credit rating what the
nuclear bomb is to war. When you file for bankruptcy, every credit
account that you decide to include in bankruptcy will become an
"included in bankruptcy" account. Additionally, a bankruptcy filing and
bankruptcy discharge listing will appear in the court records section
of your credit report. Because so many negative items are attached to
the bankruptcy, it becomes very difficult to remove all trace of the
bad credit. If at all possible, you should avoid bankruptcy.
If you are in a situation where you are considering bankruptcy, you should also look into Debt Settlement.
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Can bad credit be deleted?
Can credit repair companies be trusted?
Can credit repair companies really guarantee results?
How much does bad credit cost?
Are items such as bankruptcy and forclosures impossible to remove?
Should consumers try credit repair on their own?
Does bankruptcy wipe the slate clean for a second chance?
Do creditors bother to read the 100-word statement?
How can changing one's SSN or EIN tax number help credit matters?
Does enough good credit offset any bad credit?
Does the CCCS help consumers restore credit?
Do negative items remain listed for at least 7 years?
What is the Fair Credit Reporting Act (FCRA)?
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