way off topic but

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  • skittybang
    skittybang Posts: 1,525 Member
    When thinking about bankruptcy, it really should be your last resort. Bankruptcy can stay on your credit report for about 10 years and once you file you can't do so again for 7 years. There are a lot of debt consolidation firms that will help work with your creditors to come to terms that you can live with. There's another side to getting rid of some debt and that's the cancellation of debt. While this also has a negative affect on your credit report, it clears up faster than filing for BK. The downside is that any debt you cancel, you have to pay taxes on that on your 1040 because it was money you used, and are not paying back. Hope this helps!!
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