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September 15, 2008
Every bankruptcy alternative should be explored before filing personal or business bankruptcy. Filing any bankruptcy chapter will have long-lasting and detrimental effects on your credit. In most cases, bankruptcy will remain on your credit report for up to a decade. Ten years is a long time to be punished for financial mishaps.
To determine which type of bankruptcy alternative is best suited for your needs, you will need to conduct a bit of research. Several alternatives to bankruptcy exist including debt consolidation, debt settlement, credit counseling and budgeting.