Filing for bankruptcy or even the thought of it is quite disconcerting. Money management strategies are a dime a dozen, but not all of them actually work. They are like diets, they will work, but only if you are able to keep it up for long enough to reflect on the reports. You need to…
Continue reading ›Debt is something that all of us face at some point in time. The ideal way to keep debt is paid on time and manageable balances. Debt management options are to be considered when in over your head and are unable to keep track of your finances. Therefore, the important thing to remember is that…
Continue reading ›People assume that filing for bankruptcy means all debt is written off. This isn’t the entire picture. Some debts will be erased and others repaid. Secured loans are all paid off first. So chapter 7 and chapter 13 handles credit card debt in bankruptcy a bit differently. It is important to know the differences of…
Continue reading ›Some homes have depreciated in the recent times. You might consider getting your second mortgage in bankruptcy discharged under chapter 13. The elimination of the second mortgage is carried out by a process termed as lien stripping. Understanding second mortgage in bankruptcy can shed some light on the process of debt relief with secured debts.…
Continue reading ›Contrary to popular belief, you can always discharge your income tax debts in Chapter 7 bankruptcy. However, in order to be able to do so, your tax debts must meet the basic requirements stipulated by the federal government. Chapter 7 Bankruptcy tax debt isn’t cut and dry. Here is a list of restrictions and qualifications…
Continue reading ›A judge in the U.S. District Court for the Northern District of California has ruled that if a business is going through a Chapter 13 bankruptcy, it need not find a place in its credit reports, especially if the process is still pending. The ruling covers only cases where the bankruptcy is ongoing and not…
Continue reading ›Living with a poor credit history in the US is pretty tough to deal with. Bad credit will make a lot of things including insurance, utilities, loans fairly expensive for you to procure. Here are a few effective score improving credit repair solutions. These will not only help you improve your FICO scores, but also…
Continue reading ›Credit cards affords you the flexibility for dealing with financial emergencies. However, doing so unmindfully can end up stacking an overwhelming amount of debt that is hard to pay off. That makes understanding credit card debt more important than ever. Here are a few ways in which you can make wise use of credit cards…
Continue reading ›In case you file for bankruptcy while you have an active mortgage loan, there are many different ways in which it can play out. Depending on your lender, you can reaffirm the loan or you might be eligible for a loan modification. Some lenders will continue to accept payments, while others might simply stop taking…
Continue reading ›If you have an existing car loan when you file for bankruptcy, there are five options for you. In most cases, you might even be able to hold on to your car. It depends on how far through you are with the payment, and the worth of the car in the years that you have…
Continue reading ›
