Bankruptcy Blog

In most case the filing of the bankruptcy is going to improve your credit rating. If you’re filing the bankruptcy your credit is already bad because of slow pays, no pays, cars that have reposed, medical bills not paid and even homes that have been foreclosed on.
The filing of the bankruptcy puts an end to […]

Your filing of a bankruptcy can affect your banking habits. This doesn’t mean you can not have a bank account. If you have a credit card or line of credit with a certain bank you want to open a new account with another bank. With most banks your credit card is backed by your checking […]

Having good credit is very important in our lives. It allows us to be able to buy the cars and houses that we want and be able to buy some of the finer things that we think we need.
Credit problems start with a change in our income. The debts start piling up and there […]

Filing bankruptcy will benefit you if you are willing to change the poor spending habits which led to your bankruptcy filing. Yes, the bankruptcy may discharge all or most of your unsecured credit card debt however charging up more credit card debt after your bankruptcy is discharged will put you back to square one.
You are […]

If your credit is good then yes filing a bankruptcy is the worse thing you can do. If your credit is bad then yes the bankruptcy is the best thing that you can do. If you have had bad credit then you know the bad things do not fall off your credit in seven years, […]

One of the reasons may debtors have to file bankruptcy is due to overwhelming desire to make purchases that are not required to maintain household or daily life. These purchases would fall into the “Want” category.
Most credit cards and finance companies are willing to finance items that the debtor’s credit report clearly reflects they can’t […]

What do you do when you have co-signed for a loan for a person that is going through bankruptcy? You will be just fine as long as they decide to keep the item that you cosigned for. If it is a house or a car and the person who is filing for bankruptcy […]

Another trend that I have been noticing is people taking out pay day loans. Oh these sound like they can solve your problem when you find out that when you pay the small service fee, you are renewing the loan each time you do this. So if you only make that small fee […]

If because of life changes divorce, loss of income, or major medical, your perfect credit might now be bad credit. Creditors don’t really care what happened they want their money. They can call you everyday or even sue you. The chance of them forgetting about the debt “not going to happen”.
Now that this has […]

I hear ever one say ” filling a bankruptcy will ruin your credit!” Yes filling a bankruptcy is a negative thing to do. The reason your considering the bankruptcy is because something has already gone wrong. Meaning you lost your job or some other reason your income has changed and you can’t pay the bills […]