Credit Rating and Bankruptcy

Credit Rating and Bankruptcy

When searching for solutions to overwhelming debt, people are hesitant about filing bankruptcy because of what it will do to their credit rating. It is scary to think that a bankruptcy can stay on your report for ten years. While it is true, bankruptcy will remain on your credit report for ten years, adverse and  … Read more

  Filed under: Credit


Rebuilding Your Credit After Bankruptcy

Rebuilding Your Credit After Bankruptcy

Credit problems do not disappear on your credit report quickly. When you file bankruptcy, that can stay on your credit report for ten years. Missing and late payments or defaulting on your debt can remain on your report for seven years.  Check Your Report Check your credit report to ensure accuracy. If there is a  … Read more

  Filed under: Credit


Debt Management Plans and Bankruptcy

Debt Management Plans and Bankruptcy

Before you can file for bankruptcy, you must attend a court-approved debt management course. You can attend these online, over the phone, or in person. You will need to file a certificate of completion with your bankruptcy petition. Repayment Plan Not all credit counseling agencies operate the same way. Some debt management programs will be  … Read more

  Filed under: Debt


Debt Consolidation Loans and Bankruptcy

Debt Consolidation Loans and Bankruptcy

When you are overwhelmed in debt and looking for options for financial relief, some people consider debt consolidation loans. These loans are intended to lump all of your debt into one payment.   Secured Loans Some debt consolidation loans come in the form of using the equity in your home or other assets. Since it is  … Read more

  Filed under: Debt


Filing Bankruptcy

Filing Bankruptcy

Filing bankruptcy can be a difficult financial and emotional issue. People don’t want to admit their debt is out of control. Sometimes they feel like they have failed to meet their responsibilities, and they wait as long as they can before filing bankruptcy and getting debt relief.  Credit Card Debt According to CNBC news, American  … Read more

  Filed under: Filing bankruptcy


Avoiding Scams and Bankruptcy

Avoiding Scams and Bankruptcy

Some scams are aimed at people with financial issues. Your name is available from foreclosure records, bankruptcy court records, or getting your name from a list purchased from debt collectors. These companies are counting on you being desperate to resolve your financial issues as quickly and easily as possible. You must remember when contacted by  … Read more

  Filed under: bankruptcy


For-Profit Debt Counseling and Bankruptcy

For-Profit Debt Counseling and Bankruptcy

It is rarely a good idea to seek the services of for-profit debt counseling. People who are in dire financial situations are easy prey for those that offer credit repair or debt counseling. It is common practice in some debt counseling services to scam the customer or offer high-interest rate consolidation loans as a way  … Read more

  Filed under: Filing bankruptcy


Exemption Planning in Bankruptcy

Exemption Planning in Bankruptcy

You can legally take action to improve your status before filing bankruptcy. This is usually called exemption planning by arranging your assets to claim the maximum amount of exemptions in bankruptcy. The goal of this type of planning is to lose the smallest amount of property to your creditors.  Transfer Property If you transfer large  … Read more

  Filed under: Filing bankruptcy


Timing of Your Bankruptcy

Timing of Your Bankruptcy

If you are at the immediate risk of losing your home either to foreclosure or eviction, your car about to be repossessed, or your utility shut off, you may want to consider filing an emergency bankruptcy. You can submit your bankruptcy petition with just a few minutes of preparation.  Automatic Stay When you file your  … Read more

  Filed under: Filing bankruptcy