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To: Jim Willie CB who wrote (21505)	1/21/2003 6:37:45 PM
From: Dalin	Read Replies (1) of 104157

Hi Jim, Hey, this is a subject I know a little about. <gg> I went through a BK over 20 years ago, and I can tell you from experience, it can be a 10 YEAR mistake. 1) It stays on your credit record for 10 YEARS. It is 7 years before you can file again. I originally thought it was only on your record for 7. This seems to be something no one tells you until year 8. <g> 2) My brother was in a desperate financial condition 4-5 years ago, but he refused to file for BK. Last summer, he was able to work a deal with all of his debtors and pay off his debts at much less then half of the original amounts and get his record cleaned. He had to clean his credit record in order to buy a house he was looking at and the debtors were more then happy to settle for pennies on the dollar after years of nonpayments. (This may be different in the coming years, I know) Knowing what I know now though, I should have NEVER filed for BK. Everyone's circumstances are different, but there are other ways to deal with financial hardships. BK is the last alternative, IMHO. :o) Ramblin

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