With debt settlement you will be able to negotiate for debt reduction. Depending on how good the negotiation is, you can end up paying your debt with a 50% reduction. So why declare bankruptcy when you can get out of debt the better way? Do not make the mistake of taking out loans. They are secured and can cost your home if you miss payments. Get debt relief help and legally eliminate your debt without getting deeper into debt. click here to...more
The challenges after getting a discharge from bankruptcy is the clearance of the credit report which finally decides the customers financial freedom. The bureaus have many agencies which give them different information regarding the customer. The next is the fact that the creditors report to the bureaus directly. Such information is put across on a sheet and published as a credit report and sent across to the customer when asked for.The customers...more
As per bankruptcy rules and code bankruptcy filers are required to fill up a set of official forms as part of the legal module enacted to deal with individual debt problems and businesses. Bankruptcy courts have been designated for all districts across the country. These courts are headed by United States bankruptcy judges besides a judicial...more
In this age of living on credit cards it is not surprising to come across that much more and a lot more folks are filing for personal bankruptcy. In order to avoid the misuse of bankruptcy claim a new law referred to as the "Bankruptcy Abuse and Consumer Protection Act," was passed in 2005. If you are in a critical and genuine fiscal difficulty,...more
The current U.S. housing market and national financial crisis has caused untold stress and heartache for many American families. Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. The options available to Colorado residents for foreclosure are many. Following is a brief explanation of these solutions, including their benefits and drawbacks:ReinstatementA reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale. * Benefit: Does not require the mortgage company or lender's approval. * Drawback: Requires that a homeowner be able to pay all back payments, fines and fees.Forbearance or Repayment PlanA forbearance or repayment plan involves the homeowner negotiating with the mortgage company to allow them to repay back payments over a period of time. The homeowner typically makes their current mortgage payment in addition to a portion of the...more
In any circumstances, filing for bankruptcy should be the last resort to released yourself from unsecured credit. Research and study all the choices disposable, you can ask help from professionals to help you on how to settle your debt without...more
Have you ever had the experience of being denied credit by the bank? If you have, you probably were wondering why they decided that. As the person asking for a loan, you'd think that it is an unfair or even biased decision. You should understand...more
"There is a bankruptcy on my credit reports so my credit score is terrible. Is there anything I can do ? I've seen some credit repair companies who claim it is possible to remove a bankruptcy from my credit file. Is there actually some way I can get...more
Keep in mind that you can always increase the limit again should things become financially more secure.The APR you are paying on your credit card will be affected by what your credit rating score is. Keep this in mind and try and make sure you always...more
Credit Card Bankruptcy: Is It the Only SolutionThe simple answer is no. There are other viable options to get rid of credit card debt than declaring credit card bankruptcy.However, the sad part is that many Americans have opted for credit card...more
It is very easy to get into a situation where your credit card debt becomes unmanageable. The reality is that the credit card company makes more profit if you pay only the amount mentioned in the minimum amount due column and that is why it is...more