The Downside to a Bankruptcy Filing
May 4th, 2010
Another of the most frequently asked bankruptcy questions: What Won´t Bankruptcy Do For Me? t is important to understand that a bankruptcy filing will not cure all of your financial problems. It is not the right choice for everyone, so it should be understood that bankruptcy will not eliminate certain types of debts, especially those that are secured. Secured types of debt include mortgages and car loans. In addition, bankruptcy will not discharge special treatment debts such as alimony, child support, certain student loans, criminal fines and certain taxes. Other downsides to bankruptcy or that it will stay on your credit reports from 7 to 10 years depending on the chapter you file.
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