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Tag Archives: personal bankruptcy

How Long Does Bankruptcy Take?

How long the bankruptcy process takes can vary greatly from case to case and chapter to chapter. In some Chapter 7 cases, the petitioner can receive a discharge in as little as two months. Depending on what assets are present, the case may continue after the court issues a discharge as property is sold to… Read More »

What is Actually in a Credit Report?

You could look yourself: AnnualCreditReport.com is the only source that provides truly free credit reports, once every 12 months, without asking for your credit card information, enrolling you in a “free trial” for some paid service, or pushing you to pay for various extras. And here’s what you will find: Identifying information: Includes your name,… Read More »

What is Foreclosure and How Do You Avoid It?

Banks initiate foreclosure on homes in an effort to recover the outstanding balance on a mortgage or loan on which the borrower has stopped making payments. Mortgages and other home loans are categorized as secured loans — loans taken against specific, physical collateral. If you fall too far behind on your loan payments, the lender… Read More »

Some Tips to Avoid Having Your Car Repossessed

The rate of default on car loans reached an eight-year low of 1.03 percent in May 2012 — but even at that rate, millions of vehicles will be repossessed in the United States this year. Below are some tips to avoid becoming another casualty of the repo man. 1. Communicate. If your personal finances have… Read More »

Can I Buy a Home After Filing for Bankruptcy?

Many people think it’s impossible to buy a home after filing for bankruptcy. Unfortunately, there are many bankruptcy myths. The good news is, this couldn’t be further from the truth. Not only is it possible, but you don’t have to wait ten years, either. Of course, you will have to wait until you can re-establish… Read More »

What Should I Bring to My Meeting With My Bankruptcy Attorney?

In life, it’s absolutely important to be prepared. This is also true when preparing to meet with an attorney. If you are considering filing for bankruptcy, your first meeting with your bankruptcy attorney can end up being a big waste of time if you don’t come to the meeting prepared. Following is a list of… Read More »

What is the Fair Credit Reporting Act?

The Fair Credit Reporting Act (FCRA) promotes accuracy and privacy of information in consumer reports. According to this act, you have the right to review your credit report and have any incorrect information rectified. The FCRA was enacted in 1970 and has been substantially amended several times since then. Below is a summary of your… Read More »

10 Ways To Rebuild Your Credit After Bankruptcy

Once you file for Chapter 7 Bankruptcy or Chapter 13 bankruptcy, it stays on your credit report for a number of years. However, that doesn’t mean it’s impossible for you to rebuild your credit in that time. In fact, your ability to rebuild your credit after bankruptcy is probably better than it’s ever been. It’s… Read More »

Debt Settlement vs. Chapter 13 Bankruptcy Explained

One alternative to bankruptcy is debt settlement. Debt settlement has its pros and cons, and we’ll talk about both in this blog—and why sometimes Chapter 13 bankruptcy might be the better answer. With debt settlement, you ask your creditors to accept less than what they’re asking for, effectively canceling a portion of the debt. It… Read More »

What Happens To My Credit And Me After Bankruptcy?

Even though hiring a bankruptcy lawyer and filing for bankruptcy can help you save your house, your car, and other personal property, many people worry about its affects after filing. “How long will this follow me around?” “Is my credit ruined forever?” “Will I ever be able to buy a house or a car again?”… Read More »