People worry to get credit after Bankruptcy Individuals derailed mentally to get credit in Bankruptcy. They shouldn't worry. Years ago, we typically relied upon the banks providing secured credit cards to us in order to reestablish credit. Although secured credit cards are still available, it is no longer necessary, in most instances, to obtain 1, simply because they are usually accessible to everyone even a day after you have filed your...more
Bankruptcy Basics: It is a status permissible by law, where a person or a business house is no longer in a position to repay debts. To protect oneself from harassment at the hands of creditors, people file such petitions. This facilitates stressed debtors in trimming down their losses and rearranging their finances.The goal of a bankruptcy filing varies from one debtor to another, and also depends on the type of petition being filed. Some debtors...more
Bankruptcies can commonly be illustrated as "liquidation" (Chapter7), or "reorganization" (Chapter 13). A customer requests the bankruptcy court to discharge the owed debts. But, it is not possible to discharge certain debts. In Chapter 7 cases, several forms have to be filed through the bankruptcy court. The entire procedure takes between 4 and 6 months. The fee is waived for individuals who avail public assistance or live beneath the poverty level. However, it is advisable that people looking to file such petitions should seek assistance from a competent chapter 7 bankruptcy attorney.Major roles of a Chapter 7 Bankruptcy Attorney: * Analyzes financial situation of the debtor (in light of the legal eligibility) for filing of bankruptcy* Advises debtor to undertake credit counseling sessions as a pre-requisite for chapter 7* Works on the repayment plan, which has been developed through credit counselingWhat to look for while hiring a Chapter 7 Bankruptcy Attorney?1. Experience: You should choose an attorney who has at least 5 years of bankruptcy filing practice. Experienced lawyers can identify the pros and cons of a case in a much better way. 2. Credentials: Your attorney...more
Are you frequently dealing with debts and expenditures, which you simply can't maintain?If you have a steady source of income but are still facing a problem in settling the debts, then Chapter 13 bankruptcy is apt for you. In many Chapter 13 plans, few debts are allowed to be liquidated. The rest of the debts are arranged in feasible debt-repayment...more
Choosing Debt Settlement Over Bankruptcy - The Right Solution For Your Debt Choosing the option of debt settlement over bankruptcy is always a better option to come out from the burden of debts. Filling for bankruptcy is never considered as a good decision. One of the greatest drawbacks of bankruptcy is that it creates negative impact on...more
The Bad Economy and Consumer Debt - Avoid Bankruptcy by Understanding Your Debt Options Over the past few years, the economy is going through a vicious circle and this mainly happened due to the recession. As soon as the recession hit the economy, people are deeply drowning into the pool of debts and the unemployment level has been increasing and income level is getting less than the expense level. People usually use credit cards to fulfill the daily expenses. Keeping and using plastic money is always a great advantage but paying it back is always a great hassle. People who find themselves in deep grave of debts mostly think to files for bankruptcy because according to them, filing for bankruptcy will help them in coming out of the pool of debts in a very short span of time. No doubt that filing for bankruptcy will lead the person to the path of debt relief but in the long run, this decision will cost them a lot in terms of bad credit ranking. In short, the decision of bankruptcy is never a sensible one. In fact, this is really an impractical decision.In order to decline the ratio of bankruptcies or to avoid bankruptcy it is really important for the person to understand all...more
Weighing Your Debt Options - Why Bankruptcy is Preventable For Most Consumers These days, many debt relief options are available. In this era of recession, people are really looking for the ways that can lead them towards the path of debt...more
Why To Choose Debt Settlement Rather Than Bankruptcy If you are mired in credit card debt, you have three options. The first is to completely pay off your debts by somehow obtaining a boost in your income. This is unlikely. The second is to...more
Choosing Debt Settlement Over Bankruptcy - Successfully Get Out of Debt and Avoid Bankruptcy Debt settlement Vs bankruptcy is a really difficult topic to discuss because both of the methods have their own respective pros and cons. It is a fact...more
Debt Counselor Vs Bankruptcy Attorney - Who to Talk to When You Need Debt Relief No matter which option we are selecting for the settlement of debts, we need to take the advice from the financial experts. Without the help of fiscal experts, we...more
File Bankruptcy Or Is Debt Settlement A Better Option? When personal debt reaches the kind of level where you just cannot see how you could ever be debt free again, many people think that bankruptcy is their only option. While bankruptcy is a...more
After bankruptcy, you will notice that there are literally hundreds of offers from various companies wanting to help you fix your credit. You may feel somewhat ashamed or humiliated. The road to re-establishing credit is not easy but with hard work...more