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    Barry Paperno

    It is possible to reconstruct

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  • Filing for bankruptcy is devastating to your credit and that can cause your credit history to plummet significantly more than 200 points. But also for people in serious straits, bankruptcy is a final resort that will help them liquidate assets, discard or pay back debts, and acquire some relief that is financial.

    You need to understand how it will affect your credit if you’re considering bankruptcy. This calls for clearing up some typical misconceptions about exactly exactly how bankruptcy impacts your credit.

    Myth No. 1: you will have a higher postbankruptcy credit score than if your report contained negative information before filing if you don’t have negative information on your credit report before bankruptcy. (more…)