Since filing for bankruptcy protection may shave more than 200 points off your credit score (more if your house was foreclosed on!), it stands to reason that you may not be the picture of a good risk when applying for a mortgage. However, that doesn’t mean you can’t get a loan approved; a good letter……
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Category Archives: Personal Bankruptcy
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Should I Be Worried About Going to My Meeting of Creditors?
Should I Be Worried About Going to My Meeting of Creditors? There’s no doubt that declaring bankruptcy is a tough choice to make. For many, it’s the only viable way to start over with a clean slate. In 2021 alone, more than 413,000 people filed for bankruptcy in the United States. Though most people who……
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3 Major Mistakes You Need to Stop Making with Credit Cards
Credit card debt is one of the major reasons people get in over their heads financially. In addition to medical debt – which actually ranks as the number one reason people are forced to file for bankruptcy – credit card debt can have you borrowing from Peter to pay Paul, as they say. You find……
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What Is the Means Test in Bankruptcy?
In 2005, the United States enacted the Bankruptcy Reform Act. Under the new guidelines, the courts are able to make a determination about whether or not you would be able to afford payments under a reorganization of your debt – in accordance with a Chapter 13 filing. One of the largest differences between Chapter 7……
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Avoiding Debt Settlement Scams
We are all facing uncertain times during this global pandemic. Some people may have had their hours reduced or perhaps have lost their jobs entirely. As it stands, there are plenty of companies out there that people who are struggling financially can reach out to in order to file for bankruptcy or help get their……
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