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
Being in debt is a frustrating experience on its own, but when you throw in the constant harassment of creditors, it can make a bad situation even worse. In many cases, people quietly put up with creditor harassment and assume they are helpless against it. The fact is that there are some things you can do to reduce the calls…Read More
If you are behind on your bills, there’s a good chance that you may receive phone calls from creditors who hope to collect payments. While they may do everything they can to get you to pay, the Fair Debt Collections Practices Act (FDCPA) prohibits them from using deceptive, unfair, or misleading practices when attempting to collect a debt. Debt collectors…Read More
Your credit affects where you live, how much you pay, what you drive, your job search, and your ability to start a business. A bad credit score could mean higher mortgage payments, job denials, and limited options—which is why you should check your credit score every year. Unfortunately, you may not always get what you’re looking for. According to a…Read More
Depending on your business situation, you’ll have one of two options: either be forced to liquidate your business or have the chance to continue running it. Many different factors, such as whether you’re the sole proprietor or if your business is losing money, play a role in what will ultimately happen. When Will You Be Forced To Liquidate Your Business?…Read More
Many people worry about losing all of their possessions when they file for bankruptcy, but that’s rarely the case. Exemption laws may allow you to keep your home, automobile and other assets, all depending on the state you live in. If you are able to keep something like your car through a bankruptcy, does that mean you should? Below we…Read More
Typically, when you’re looking to discharge the majority, if not all of your debt, you look towards Chapter 7 bankruptcy. Unlike Chapter 13, in which you can set up a repayment plan, Chapter 7 allows you to wipe out your debt. Before filing for bankruptcy, it’s important to know what kinds of debt can be discharged. Debts that can be…Read More
