The idea of filing for bankruptcy often garners a lot of apprehension and fear. Among the questions that may go through your head are: Am I failure? Will I lose everything? What will my future look like?
We frequently write about how filing for bankruptcy can allow Americans to regain their financial footings. Unfortunately, some bankruptcy filers remain burdened by something commonly referred to as zombie debt. If you were to file for bankruptcy, the debts that you have either paid off or had discharged are supposed to be removed from your current credit record. Because these debts have been taken care of, in one form or another, there is no reason for the debts to be listed as outstanding on your credit report.