Bankruptcy-Chapter 13 Or Chapter 7?

Expert Author: J Schipper | Summary

The main purpose of bankruptcy laws is to give people hopelessly overburdened with debt a financial fresh start. Bankruptcy filings are public records. However, under normal circumstances, no one will know about the bankruptcy. Credit Bureaus will maintain a record of the bankruptcy and it will remain on the credit record for 10 years.

Reasons We File for Bankruptcy

Expert Author: Madel Delantawan | Summary

Bankruptcy is a legal term that all of us have heard over and over again. We usually think that a person has become poor when they are bankrupt however that is usually not even close to the case. We have this pre-conceived notion that in order for us to be bankrupt, we are irresponsible and lazy. In the real world, it can be one of the most responsible actions that a person can choose to take when it is really necessary. It is not an easy decision for most people to make, but it is the best one for certain situations.

10 Ways To Protect Yourself From Bankruptcy Caused By Prolonged Illness

Expert Author: Paul Wilson | Summary

Accidents and prolonged sickness can be a drain both emotionally as well as financially. Sometimes money crunch is caused by the inability to hold a job, or when the medical bills escalate and it becomes increasingly difficult to balance expenses.

Auto Loans After Bankruptcy - Getting Approved With Bad Credit

Expert Author: Carrie Reeder | Summary

Bouncing back after a recent bankruptcy is challenging, but possible. To begin with, you will need to rebuild credit, which involves opening new accounts. If you need a new vehicle, financing a car following a bankruptcy may be a smart move. Auto loans are easy to qualify for. Thus, you can get approved with horrible credit.

Refinancing After Bankruptcy - Tips For Getting Approved

Expert Author: Carrie Reeder | Summary

Refinancing after a bankruptcy can be your first step toward reestablishing your credit. With your loan secured by your home, you can qualify for relatively low rates. Improving your application with time, assets, and terms will also help lower rates.

Credit After Bankruptcy - Tips To Boost Credit Score

Expert Author: Carrie Reeder | Summary

Establishing credit after a recent bankruptcy is very important. For the most part, many consumers acquire excessive debt because of using credit irresponsibly. Hence, after a bankruptcy is discharged, many people are hesitant to obtain new credit accounts.

Buying A House After Bankruptcy - Finding A Bad Credit Mortgage

Expert Author: Carrie Reeder | Summary

Buying a house after a bankruptcy takes a little research to find a bad credit mortgage with reasonable rates and terms. But it can be done with the help of online lenders. By comparing financing offers, you can quickly find a home loan with good terms.

Dealing With Bad Credit

Expert Author: James Mahony | Summary

This interesting article addresses some of the key issues regarding bankruptcy. A careful reading of this material could make a big difference in how you think about bankruptcy.

Credit Unions Can Keep You From Bankruptcy

Expert Author: James Mahony | Summary

The following article lists some simple, informative tips that will help you have a better experience with bankruptcy.

Filing For Bankruptcy

Expert Author: John Rivers | Summary

Bankruptcy should be seen as the last resort for people who have got themselves into too much debt. It may seem the answer to all your prayers but bankruptcy is only able to solve certain debt issues. Remember, if you have filed for bankruptcy you may find it difficult to obtain credit in the future unless your bankruptcy has been cleared, or discharged for a number of years.

Bankruptcy? Don't Get Messy With It

Expert Author: Michael Russell | Summary

The bottom line is, don't jump into this mess called bankruptcy, until you have convinced yourself it is the only option left.

Bankruptcy And Buying A House - Is It Smart To Buy A House After Bankruptcy?

Expert Author: Carrie Reeder | Summary

Each year, millions of people file bankruptcy as a means of erasing their consumer debts. While this approach may relieve stress, a bankruptcy is damaging, and will hang over your head for the next ten years. Still, it is possible to overcome bankruptcy. The key is making smarter financial and credit decisions. With this said, some people choose to purchase a home after a bankruptcy. Here are a few pointers to consider when buying a home.

Car Loans After Bankruptcy - How To Negotiate The Best Deal

Expert Author: Carrie Reeder | Summary

A car loan after a bankruptcy is one of the easiest types of secure loans to get. Negotiate the best deal by taking control of your financial situation. With so many lending options available, you can choose your lender. Start by tidying up your credit report. Then, look for car financing before you start shopping. Not only will you get a good rate, but you can negotiate an even better price for your new car.

The New Bankrupty Law - What Has Changed?

Expert Author: Delia Galley | Summary

If you are thinking about filing for bankrupcy - you should understand the new bankruptcy law.

Discharged Bankruptcy? These Steps Could Help

Expert Author: R. Lawrence Anderson | Summary

If you have a discharged bankruptcy, here are three steps that could help increase your chances of qualifying for credit and loans.

The New Bankruptcy Means Test Explained In Plain English

Expert Author: Charles J. Phelan | Summary

Discusses the ‘means test’ as it will be applied under the new bankruptcy law, and why more people will be forced into Chapter 13 versus Chapter 7. Explains in simple language how the calculations will work, with examples for illustration.

How Will The New Bankruptcy Law Affect Debt Negotiation?

Expert Author: Charles J. Phelan | Summary

Discusses the effect of the new bankruptcy law on debt settlement or debt negotiation. Explains why it is still "business as usual" in the debt industry now that the new law is in effect, and why the strict new rules will make debt negotiation more popular than ever.

Buying A Car After Bankruptcy? These Suggestions Could Help

Expert Author: R. Lawrence Anderson | Summary

If you are buying a car after bankruptcy, here are a few suggestions that could help.

Refinance After Bankruptcy - Applying For A Refi Loan After A Chapter 7

Expert Author: Carrie Reeder | Summary

Refinancing your mortgage after a Chapter 7 bankruptcy allows you to cash out your equity and find lower rates. You can also lower your payments by extending your loan term. Two years after your bankruptcy has been discharged, you may qualify for conventional rates. But if you need a refi loan sooner, you can find a sub-prime lender to work with you.

Bankruptcy In Utah Leads The Nation

Expert Author: | Summary

Legislation enacted by Congress in April 2005 will create the biggest changes in Federal bankruptcy law in decades. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will eliminate the opportunity for most Americans with debt problems to file for bankruptcy under the rather forgiving Chapter 7 of the bankruptcy code. Instead, most filers will have to use Chapter 13 of the code, which allows the court to establish a five year repayment plan for a portion of the debt.