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Saturday, October 17, 2009

What Is Bankruptcy Chapter 7?

By Emma Elvie

Are you one of the thousands who are wondering what a bankruptcy Chapter 7 is? We all know that anyone who is struggling financially usually find themselves coming to the internet in hopes of being able to find a way out of all that debt that they have accumulated. Well if you have come upon this article then chances are you are one of the thousands of people who are struggling to make ends meet financially and want to find some relief.

chapter 7 bankruptcy is the most common type that people find themselves facing. This is because this type of bankruptcy will allow people to have a fresh start and get out from underneath all their debt. It is a great way to get a fresh start to life without having to constantly worry about your debt.

However before you run out and begin trying to file bankruptcy chapter 7 there are some things that you should be aware of. Once you have a better understanding of these things then you will be able to decide if this is the right step for you or not.

1. Ruin Your Credit We all know that regardless of which type of bankruptcy you choose to file the truth is that it is going to scar your credit score. This is one of the reasons that so many people who are in financial burdens want to avoid this process.

Most of the time when people begin searching for this information it is because they have looked at every other option that just does not seem to get them out of this mess.

2. Employers: Some employers have been known to not hire someone who has filed bankruptcy. Although they should never use this information against you; the truth is that there are some employers who just can not help not doing it.

For more information about my personal bankruptcy story be sure to visit the site below and get all the information that you need to avoid filing bankrupt. - 23212

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