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Will filing bankruptcy affect my credit?
There is no clear answer to this question. Unfortunately,
if you are behind on your bills, your credit may already
be bad. Bankruptcy will probably not make things any worse.
The fact that you filed bankruptcy, if properly explained,
may be less damaging than a history of unpaid accounts.
The fact that you have filed a bankruptcy will appear on
your credit record for ten years. But since bankruptcy wipes
out your old debts, you are likely to be in a better position
to pay your current bills, and you may be able to get new
credit. The best way to restore your credit is to obtain
new credit and make the payments on the new debt on time.
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