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Deciding to file for bankruptcy is not something anyone takes lightly. It can be a complicated process, as well as life-changing. Therefore, it’s critical to understand which type of filing is the best option for your situation.
The different bankruptcy filing codes outline how your debt processes. Each has specifications regarding whether the settlement is through any property you own or a repayment plan. Take a look at the particulars for each.
Filing for bankruptcy might seem like the last resort, as it can have severe implications for your credit. However, most people who are at the point of considering bankruptcy probably have taken a hit to their credit score already. To find out if your credit and bankruptcy status impact your ability to purchase a home, contact Midland Mortgage Corporation for the professional guidance you need at any stage of your home buying process.