On July 30, 2016, Social Security began requiring new and current my Social Security account holders to sign into their account using a one-time code sent via text message. This second layer of security that requires...
Unlike debt settlement and debt consolidation, bankruptcy typically wipes out debt. Although this may seem like a solution to your money problems, it will have lasting consequences on your credit report and still may not remove all the debt you have.
A bankruptcy is the greatest indicator of risk in a credit report, and so has the most serious and long lasting impact on your ability to obtain new credit. Therefore, filing for bankruptcy should always be a last resort. The two most common types of bankruptcy are Chapter 13 and Chapter 7. In a Chapter 7 bankruptcy, you do not repay any of the debt owed, and the bankruptcy listing remains on the credit report for ten years from the date it is filed. Under Chapter 13 bankruptcy, you are responsible for paying back a portion of the debts that you owe through a debt repayment plan.