Quite frankly, bankruptcy is usually a person’s last choice when it comes to debt relief. Even so, filing for Chapter 7 or Chapter 13 bankruptcy can help you pay off your creditors and effectively alleviate your debts. Despite various misconceptions, bankruptcy can be your second chance at financial stability. However, if bankruptcy is in your future, it’s important to commit…Read More
Successfully completing Chapter 7 or Chapter 13 bankruptcy provides many people with amazing second chances at financial stability after years of struggling under the burden of significant debts. While the bankruptcy process may not be quick or easy, the end result is always worth it in the end. After all, once important facet of the overall process is that debtors…Read More
With legal guidance and persistence, filing for bankruptcy can be a permanent solution to a significant and life-ruining financial problem. While the bankruptcy process can be extremely challenging and stressful, it does reap substantial rewards and provides eligible candidates with second chances at financial stability. Of the various bankruptcy options, Chapter 7 is the most popular because it effectively liquidates…Read More
The ultimate purpose of filing for bankruptcy is to pay off your creditors and absolve your debts. For many people, bankruptcy provides a clean slate and a second chance at financial stability. However, before you make any decisions about filing for bankruptcy, it’s important to discuss your personal financial situation with an attorney. The first step in filing for bankruptcy…Read More
When you’re already facing financial hardship, the last thing you want to receive is a foreclosure notice. A lender initiates the foreclosure process when a debtor consistently fails to make their mortgage payments. During the foreclosure process, the lender regains ownership of the property and sells it in order to settle the debt. Depending on your circumstances, there may be…Read More
Chapter 13 is an excellent bankruptcy option if you have a regular source of income. By following a 3-5-year repayment plan, you can catch up on overdue payments and partially or completely pay off your debts. Chapter 13 also allows you to retain secured assets, including your home and business. You are eligible for Chapter 13 bankruptcy if: You are…Read More
Chapter 7 is an excellent bankruptcy option for debtors with terrible credit. Once you complete Chapter 7, your financial slate is wiped clean and you can start restoring your credit immediately! While your bankruptcy will be listed on your credit report for 10 years, you can still improve your credit score by making positive financial choices. Track Your Credit Score…Read More
If your credit score is suffering, chances are you are trying to figure out ways to fix it and, in your search, you might have come across credit repair clinics that claim to be able to accomplish this, allowing you to qualify for a loan or to get a credit card. Unfortunately, in this case, what sounds too good to…Read More
According to the Federal Trade Commission (FTC), about 5% of consumers have errors on their credit reports and 26% of people involved in the study had an error that might potentially impact their ability to get a better interest rate. This can be easily rectified with a little more proactive behavior, such as checking your credit report once a year.…Read More
There is often a lot of stigma attached to the mere idea of bankruptcy that is rarely rooted in what it actually means to go bankrupt. As such, many who are deep in debt might try to avoid it even when it is their best chance at rebuilding a better and healthier financial future. That said, bankruptcy is not the…Read More
