rajshukla
Joined: 03 Jan 2012
Posts: 160
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 Posted: Tue Jan 03, 2012 12:46 pm Post subject: hi |
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Most people do not know how their debt is handled if they file bankruptcy, and there is not a simple answer to the question. You need to understand your options and how the law applies to your situation before you can know how your bankruptcy debt will be handled. Bankruptcy is a big step to take and has some serious consequences. Not least is the loss of control over many of your assets. This article clarifies what bankruptcy means in terms of your assets, and examines some of the possible alternatives options that ought to be considered before deciding to declare bankruptcy. Far too many people these days rush into a personal bankruptcy filing without really looking at their real financial state, and without considering other viable options, especially ones that have a much lesser long-term impact on your credit score. You can't decide how to proceed until you really know where you are at.
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