Proposal vs. Bankruptcy
April 4th, 2006 by Questions
I filed a proposal that was approved last year. It seems like those who have filed bankruptcy have it easier: I choose to pay off as much as I could and still my credit rating is the same as if I filed bankruptcy. Also, it seems like their bankruptcy stays on their record for 7 years, while a proposal stays on for up to 8 years! They have their discharge papers and then can start rebuilding their credit while I’m making monthly payments to my creditors! I’m starting to feel a little bitter.