Bankruptcy Blog

Your credit is very important. Having good credit will allow you to get more for your money as they say. The difference of 18 percent and 8 percent on a fifteen thousand dollar car is several thousands of dollars. On a home mortgage you are talking several tens of thousands of dollars for a difference [...]

Sometimes I just don’t understand how people get loans for homes that they just can’t afford. I have a client who makes about $70K-$72K a year. He makes plenty of money to pay all his bills, if his bills were reasonable. His mortgage payment alone is $3500, which doesn’t include taxes or [...]

When you file a Chapter 7 or 13 bankruptcy case, it is reported on your credit report. For the duration of your bankruptcy the unsecured debts listed on your credit report may remain unchanged. After you receive a discharge then all of the unsecured or surrendered secured debts should be reflected as discharged debt on [...]

Sometimes I don’t understand people and the financial decisions they make. I have a client who struggles to make ends meet, but does her best. She has a car and managed to pay it off. She went along for awhile without a car payment, but started to fall behind on some other [...]

Credit cards can allow you to buy things and then over a period of monthly payment, pay of the idems. Some cards will be a zero interest for a year and some are are at 21 percent interest. As long as you make the monthly payments your credit is in good standings. This is the [...]

After receiving a Chapter 7 bankruptcy discharge, you can begin to rebuild your credit by purchase of automobile, home or small limit credit card. The key to rebuilding this credit is to stay current on your secured loans and pay off the balance of your credit card each month. Your credit score is also based [...]

Our credit is very important in life. It will help us to buy the things we need and sometimes things that we just want. With good credit there is no limit as too what you can buy. The way you build your credit is by buying things and then making payments.
Bad credit is when you [...]

When filing a Chapter 13 or Chapter 7 bankruptcy, your unsecured debt will not just simply disappear. The unsecured debts will remain on your credit report as discharged debt for 10 years for Chapter 7 bankruptcy discharge & 7 years for Chapter 13 bankruptcy discharge. Though these debts will be still listed on your credit [...]

Credit cards are a big reason people have to file a bankruptcy. You receive your first credit card while in school after receiving your student loan or open your checking account. You tell your self I can do this, meaning use it pay it. Most of us do that and for many years and the [...]

I have a client who received a discharge in a Chapter 7 bankruptcy. They had a loan on their car with Discount Motors. The Debtor signed a reaffirmation agreement and was going to make pay of $180 every other week. One week he was going to be late, so he called and [...]