What are my options if I file for bankruptcy?
Filing for bankruptcy can provide relief, but there are different types. Are you considering Chapter 7 or Chapter 13?
I'm not sure. What's the difference between Chapter 7 and Chapter 13?
Chapter 7 involves liquidating assets to pay debts, while Chapter 13 allows you to keep your assets and repay debts over time.
Which option is better for someone with a steady income?
If you have a steady income, Chapter 13 might be better as it allows you to keep your property and create a repayment plan.
What happens to my credit score if I file for bankruptcy?
Filing for bankruptcy can significantly impact your credit score, typically lowering it by 100-200 points, and it stays on your report for up to 10 years.
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