Your Credit Score will be affected whether you file Chapter 7 or Chapter 13. But which is worse? In this article I will discuss the Pros and Cons in regards to how each bankruptcy will affect your personal credit rating. Over the years in the Mortgage Industry I have dealt with the affects of these different bankruptcies, and how each one affected your ability to get financed. I know that each has its purpose, but I do know which Bankruptcy will affect your credit Score more. 

Bankruptcy is not the end of life. Yes, it does knock down your credit considerably. And, people don't seem very willing to lend you money after bankruptcy. However, bankruptcy also gives you a fresh start. You have a new opportunity to rebuild your life and your finances. Recovering from bankruptcy is not easy but it is possible if are willing to work toward it. 

As you are graduating from college you must be wondering what you should be doing with all your student loans. Besides planning to repay the loans, this is the perfect time to start thinking about consolidating your student loans. 

Taking out a secured loan which covers all of your outstanding debts and allows you to make one monthly payment rather than multiple payments to creditors might help with the post Christmas financial struggle. Christmas is traditionally a time when people are more likely to take on too much debt and January is always the best time to take stock a ready yourself for a complete overhaul of your financial situation. 

A student debt consolidation program is very essential for students who rely heavily on loans to complete studies and have taken many loans in the past. Every government wants its citizens to enjoy a debt free life with minimum regulations and stress. To achieve this end, the federal government has started many programs of student debt consolidation that reduce the debt burden of the students so that they can devote more time to their studies. After all, the students are the future engineers and leaders of the nation. If they are putting all their energies towards creating finance for themselves, their study is bound to suffer.