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chapter 13 or chapter 7 bankruptcy?

April 18th, 2008 · 3 Comments


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debt management

CDE asked:

Is this option preferable to chapter 13 or chapter 7 bankruptcy? Even if you go through a reduced payment agreement through a debt management company, doesn’t this stay on the credit report negativley, just as much as bankruptcy?

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3 responses so far ↓

  • 1 Answerperson // Apr 24, 2008 at 9:03 am

    I say debt consolidation – because you get a new payment – and you can wipe out like 50 – 60% off the debt – I did it –

    You can go online and run a free calculator to see how much they think it will eliminate and how much the new payment will be.

    It does show you are trying to pay your bills.

  • 2 Real Georgian // Apr 23, 2008 at 10:10 pm

    Yes,
    Your record however bad or good will show every detail. So once you get yourself out of trouble and the years pass… don’t let the credit companies lure you back in…pay cash! Just remember it is you against them and they want to keep you down and take your money. You can learn ways to correct your credit score at

    Good Luck

  • 3 Lewis A // Apr 21, 2008 at 7:46 pm

    NO, it shows that you are least trying to pay your bills

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