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When you file for bankruptcy, your credit ranking will be impacted negatively for seven to 10 years. Since debt settlement ends up you owing less money, this will on your credit report too. Is actually will show is that you didn't pay your overdue balance in full; however, it can have that you probably did make fee. Since you didn't just up and avoid your debt, the affect your fico score will be less. In all of cases, it will likely get that you a lower overall credit score for only around a two year period.
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