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Bankruptcy Alternative
Bankruptcy alternative repayment plan
A bankruptcy alternative like a repayment plan is less damaging to your credit rating than bankruptcy. With an effective bankruptcy alternative payment plan, no matter what your payment record is like before you start a program, or while on the program, the longest a creditor can report a poor pay history on your credit bureau file is seven years.
A bankruptcy alternative can be expensive
Seek a bankruptcy alternative with MMI. Did you know that in addition to filing costs and attorney fees, a notation that you filed for bankruptcy will remain on your credit report for seven to ten years, depending on the chapter you file. This notation could make it difficult to obtain any type of new loan. And, if you are able to obtain new credit, it may be hard to find a loan with affordable repayment terms.
Let MMI help you with you with a bankruptcy alternative.
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