There are a lot of people who every year find themselves in the grip of filing for bankruptcy. For many of these people, it can be a humbling and depressing time. Americans dont like to lose and they dont like to feel less than others around them. Still, for many people, it is the only option available to them.
After filing for bankruptcy, people will get a copy of the bankruptcy records which includes the date that the bankruptcy was discharged. This is important for several reasons. One reason to keep bankruptcy records is so that people can still buy a house. The mortgage company will ask for a copy of the discharge records in order to decide on if they will even finance the loan and if they decide to finance it, they need to decide on the interest rate for the term of the loan.
Also, if people need to buy a new car, the finance company will ask for a copy of the bankruptcy records in order to make the new loan. For almost everything that needs financing, the bankruptcy records will most likely be asked for by the company willing to make the loans. So for this purpose, it is important to keep the bankruptcy records in a safe place that is easily...
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