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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.

Before you begin trying to file a bankruptcy chapter 7 there are some things that you should be aware of and that is the purpose of us writing this article. When you have a better understanding how this process works then you will have all the information that you need to make a wise decision.

1. Hurt Your Credit: If you are considering filing bankruptcy then you should know that it is always going to put a damper on your credit score. This is actually one of the main reasons that so many people will do everything that they can do 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. Future Employers: You should be aware that there are some employers have been known not to hire someone who has filed bankruptcy. While in most states it should not matter if you file it should never be used against you at a new career; however the truth is that they may not tell you that is the reason they

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. - 23305

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