Retirement Accounts and Bankruptcy

Retirement Accounts and Bankruptcy

When you get behind in your debt, by either losing your job, cut back in hours or significant unexpected expenses, you may worry about losing your retirement account to your creditors.  Cashing in Your Account One option you may think of is cashing in your retirement account to catch up on your debt. If you  … Read more

  Filed under: Debt


Bankruptcy After Trying Other Alternatives

Bankruptcy After Trying Other Alternatives

When consumers find themselves overwhelmed in debt, they might start looking for ways to get a handle on their finances. If you have tried other avenues and have been unsuccessful, you may want to consider bankruptcy to get a fresh start and a better financial future. Talking to your Creditor Speaking with your creditors can  … Read more

  Filed under: Filing bankruptcy


Myth: Bankruptcy is for Broke People

Myth: Bankruptcy is for Broke People

A popular misconception about bankruptcy is that you must be flat broke, nothing left, and no hope to file bankruptcy. Or that if you do file bankruptcy, the court will take all you own and leave you broke, homeless, and with no possessions. Both of these myths couldn’t be farther from the truth. Bankruptcy is  … Read more

  Filed under: bankruptcy


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