Is it generally better for your credit score if you pay off old debts or if you file for bankruptcy?

Is it generally better for your credit score if you pay off old debts or if you file for bankruptcy?
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1 Answer

Answer :

Better to pay off. Bankruptcy puts a big mark on you credit report, no one wants to get left holding the bag when you opt out of your debt. Bankruptcy takes the legal obligation away, but does not clear your record.
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