Can they repo a car right out of your garage?
You know that the lender can repossess your car if you’re behind on your payments. They typically won’t do this after one missed payment, though they usually could if they wanted to, but it’s a more drastic step when it appears that you are not going to be paying again. They don’t have to tell
Looking for help with credit card debt? Beware of these red flags
When you have bills stacking up and a lot of overdue bills, it’s easy to start feeling pretty anxious. The constant collection calls, increasingly insistent letters and other contacts from your creditors can make you desperate for a solution. That’s exactly what some debt relief companies are counting on. While there are many genuine debt
How holiday credit card use can lead to bankruptcy
The holidays come with a lot of social pressure. People want to give gifts to their friends and families. They feel like they need nice outfits for religious ceremonies or office parties. There may also be pressure to travel or to host family members at their homes. All of that adds up to a lot
3 steps toward repairing your credit after a bankruptcy filing
A successful bankruptcy filing can benefit an individual in numerous ways. The automatic stay will stop pending lawsuits, repossession efforts and other collection activity. The eventual discharge of your unsecured debts will prevent future collection efforts on those debts. The trade-off for those benefits is that filing for bankruptcy will drag down your credit score
Credit card debt doesn’t have to cripple you
Credit cards are a handy financial tool as long as they’re used properly. You should ensure that you’re able to make the monthly payment when you charge things. Unfortunately, you can’t see into the future, so you never know what’s going to happen. For some people, an unforeseeable event leads to their not being able
Bankruptcy filings fall in 2020 for most people in the U.S.
Each year, the government releases information on the total number of bankruptcies that have taken place. In January 2021, the United States Courts reported that there was a 29.7% decrease in the number of bankruptcy filings from 2019 to 2020, which may have been largely related to stimulus support and other changes in the economy
A common bankruptcy myth: It’s all your fault
One of the most common myths that people buy into about bankruptcy is that, if you file, it’s all your fault. In fact, this is, unfortunately, a reason that many people choose not to file. They worry about what friends, family members and business associates are going to think. They feel like everyone is going
Can you file for bankruptcy more than once?
Unexpected expenses or limited know-how in managing credit often lead individuals to pursue bankruptcy. Since people are required to take classes to learn about budgeting and debt avoidance as part of the bankruptcy filing process, many people would assume that they couldn’t end up back in a place where they needed to file bankruptcy again.
3 tips for rebuilding your credit after a bankruptcy
By the time you file for bankruptcy, your credit will likely have already taken a significant hit. It will drop even further when you file. However, after your discharge, you are in a unique position that allows you to rebuild financially. Taking the right steps after bankruptcy can be as important to maximizing the benefits
How do you know what form of bankruptcy to choose?
Everything that matters in the life of U.S. residents typically requires making decisions. Even when you have chosen debt relief through bankruptcy, you must still make at least one more critical decision—what form of bankruptcy best meets your needs. These decisions are not easy, but they are vital to your future financial wellbeing The two most common