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Transcript:
Well, if you file for bankruptcy, there is always a chance or possibility that your credit score may drop upon filing. But that isn’t necessarily a given, either, because many of our clients — their credit scores are kind of at rock bottom already, just from large amounts of bills and debts that have been unpaid for a long time — and it really can’t get much lower, to be honest. So, for some of those people, their credit score goes up almost immediately upon filing. But for a lot of people, there will be a drop in credit score upon filing. But everyone needs to focus on the long game.
So that’s what — filing the bankruptcy and getting rid of the debt — is what starts the healing process. So, before you take that splinter out, nothing’s going to ever improve it or heal it. So, once you file, then, by proper management going forward, which is primarily paying all your bills and obligations on time every month, you will improve your credit score beyond where it was before filing, way, way sooner than you could any other way, by paying it off in minimum payments for years and years and years.
