SMARTMONEY: DECLARING BANKRUPTCY CAN HELP YOUR CREDIT
January 23, 2007
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THE DECISION OF whether to file for bankruptcy protection is not an easy one. Among the numerous concerns, one that is typically front and center is the worry that your credit rating will be so damaged that securing a loan — even at a lousy rate — will be darn near impossible.
But here’s some surprising news: In many cases, the damage done to credit isn’t nearly as bad as expected. Over the long run, obtaining a score high enough to make you eligible for very competitive rates isn’t out of the question. For full article, click on http://www.smartmoney.com/debt/advice/index.cfm?story=boostscore&afl=myy
