If you feel like you’re drowning in debt, you may have already considered filing for bankruptcy. But bankruptcy is a big step, and if you’re going to take that step, you want to make sure it’s worth it.
After all, if you choose to file bankruptcy, it could have a detrimental impact on your credit score for years to come. For example, chapter 13 bankruptcies typically stay on your credit report for seven years while chapter 7 filings can stay on your credit report for up to 10 years.
You may be wondering if the amount of debt you have is worth the consequences of bankruptcy. …
Read the full article at: https://www.cbsnews.com/news/how-much-debt-is-worth-filing-for-bankruptcy/