Bankruptcy is a bummer. No one has ever said “OH MAN! I’m so excited to file bankruptcy! It’s going to make everything so awesome!” That being said, sometimes it needs to be done. If you have explored all of the alternatives and have decided to file bankruptcy, it’s important that you know what your options are and how they will impact your existing mortgage, or your future ability to obtain home loan financing.
What’s the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy? We’ll review the court process and what you can expect if you declare bankruptcy.
Carrying some debt is very normal. Virtually everyone has debt. But the key is controlling and managing your debt, not letting debt control you. How can you tell if your debt has become out of control? Here’s a list of common debt danger signs: 1. You spend more than you earn 2. Creditors call you often 3. You live paycheck to paycheck 4. You don’t know how much you owe on your bills 5. You’ve paid late fees more than twice in the last year 6. You occasionally make late payments 7. You pay only the minimum on your credit cards 8. You put off paying one bill so you can pay another 9. You argue with family members about money 10. You take cash advances from credit cards to pay bills 11. You make purchases impulsively 12. You’ve taken money from your retirement fund to pay bills How to Manage Your Debt If you think your debt is out of control, don’t panic. With a little bit of self-discipline and smart financial planning, you can learn how to
With unemployment at an all time high, and many families struggling through financial difficulties, it’s easy to view bankruptcy as a way out. But declaring bankruptcy may not only be damaging to your credit, it could also affect future purchases and opportunities. If you are considering filing for bankruptcy, here are ten ways to avoid bankruptcy.
There are lots of urban-legend-type beliefs about ways to raise your credit score. But what you think might work, may actually hurt you. What are some of the credit myths and what's the real truth?