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2009-10-26 21:46:08
2009-10-26 21:46:08

Bad credit is not the only disadvantage to filing for bankruptcy. The most obvious disadvantage of filing for bankruptcy is that it will ruin your credit for at least 7-10 years. Some other disadvantages include:

* Losing credit cards
* Losing non-essential possessions
* Inability to obtain a mortgage for some time
* Embarrassment
* Not all debt will be discharged

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