Credit and Bankruptcy

Credit Cards, Bankruptcy, and Court Wars

Credit card is the most common unsecured debt in today’s world. As per one of the reports published during late 2017, an average credit card holder could have a yearly debt of $18,000-20,000. The interest rate of credit cards is really high, and it could even breach 30% in certain scenarios. The bankruptcy laws however beneficially help in scrapping the credit card dues as they are part of unsecured dues while you are struggling to keep up with basic needs and priority debts. But it might not be as easy as said, the lender (credit card company) and [...]

2023-01-12T13:42:00+00:00

When Creditors Call Post Discharge – What Needs To Be Done?

Call: 888-297-6203 The discharge of your bankruptcy is meant to prohibit creditors from pursuing collections. But occasionally it feels as though a debt will never be paid off. Alternatively, the creditor may persist. Typically, this happens as a result of the original creditor selling off its bad debt to a debt buyer after being mentioned in the bankruptcy. It was not noted by the original creditor that the loan was forgiven in a bankruptcy. Unaware that the debt cannot be legally collected, the debt buyer makes an effort to collect. the repercussions of litigating over a discharged debt. [...]

2023-01-13T08:38:00+00:00

Reports On Credit After Bankruptcy – What All You Need To Know…!!

Call: 888-297-6203 According to statistics, after four years, 50% of all small enterprises fail. When conducting business with other small companies, it's important to consider both your own survival and the survival of your clients. Make every effort to reduce your exposure to your customer's credit issues. Beginning: Think about the effects a client's failure to pay might have on your firm with each customer to whom you give credit. It doesn't take many nonpaying clients to cause you problems. Get detailed details on the customer when they establish an account: Names of trade creditors; the entire legal [...]

2023-01-13T08:38:48+00:00

Debt And Senior Citizens

Call: 888-297-6203 Elderly people who are trying to pay off big credit card debt with really limited income, typically only Social Security have been showing up more frequently lately. These consumers want to pay their debts off badly, but in our professional view, it is neither possible nor prudent to make the sacrifices necessary to do so. Attributes In an effort to uphold their ideals about debt repayment, I worry that too many of our seniors are under constant stress and making sacrifices with regard to their dietary needs, medical care, and emergency financial reserves. Credit cards and credit card [...]

2023-01-13T08:39:44+00:00

When Does The Credit Score Improve After Bankruptcy Filing?

Call: 888-297-6203 While bankruptcy allows you to get rid of your debt, it harms your credit score badly. However, having a lot of debt also does the same to your credit score. The situation is not that bad, as you can rebuild your credit score in over 12-18 months after getting the bankruptcy discharge. However, it would help if you took adequate measures to get the desired results. Since bankruptcy cannot be removed from your credit report, you need to consistently work hard to improve your credit score from bad (less than 579) to fair (within 580-66) to [...]

2022-07-05T07:56:19+00:00

Bankruptcy And Credit Score

Call: 888-297-6203 Bankruptcy is a great solution to a dire financial situation due to debts or medical emergencies. It helps in overcoming such situations and starting afresh on a clean slate. However, there are a few flaws to bankruptcy, and the major flaw which is often feared is the credit score. A credit score is an important factor that often influences bankruptcy decisions. To discover more about bankruptcy and credit score log on to https://www.recoverylawgroup.com/bankruptcy/. How does bankruptcy look on your credit score? Bankruptcy is a legal provision to discharge the unpayable debt due to dire financial situations. [...]

2022-07-05T07:55:37+00:00

Can I Lose My Rental Property On Filing For Bankruptcy?

Call: 888-297-6203 While filing for bankruptcy, though exemptions protect your house, your rental property (apartment, commercial space, etc.) might be under threat. Depending on whether you are filing for chapter 7 or chapter 13, the fate of these properties are decided, say lawyers of Los Angeles law firm (https://recoverylawgroup.com/bankruptcy/). Rental property in chapter 7 While filing for Chapter 7 bankruptcy, any property that is exempt (under federal or state laws) can be kept by the debtor. Most states allow homestead exemption up to a dollar amount while others might allow protecting the entire interest of the debtor in [...]

2023-01-13T08:41:38+00:00

Steps To Get Lien Off A Title After Bankruptcy

Call: 888-297-6203 According to bankruptcy lawyers of Dallas based law firm (https://recoverylawgroup.com/bankruptcy/), you can either get your debts reaffirmed i.e. continue paying for them or get them discharged. Sometimes, lenders might contact the court prior to a bankruptcy filing and have a judgment against you. Sometimes, this might result in a lien against your property. When this happens, the property cannot be sold or transferred utill the lien is removed. Sometimes, even after getting the debts discharged through bankruptcy, you might still have a lien on the property. If this happens, you need to follow these steps to [...]

2023-01-13T08:42:28+00:00

How To Get A Mortgage After Bankruptcy?

Call: 888-297-6203 Getting a mortgage after bankruptcy is difficult. However, if you control your finances and improve your credit history, there are chances that you can get a home loan if you are selective about applying for it. Lawyers of Los Angeles law firm (https://recoverylawgroup.com/bankruptcy/) say, that it might be sooner than later. Affect of bankruptcy on your credit score Once you opt for bankruptcy, you should know that it stays on your credit report for 10 years; sometimes even longer if the loan was for more than $150,000. Your credit score is affected by this as well [...]

2023-01-13T08:43:26+00:00

Getting A Credit Card Post-Bankruptcy

Call: 888-297-6203 Once you go through bankruptcy, whether chapter 7 or chapter 13, you might realize that getting a credit card is extremely difficult. However, instead of being disheartened, get to know the alternatives, say lawyers of Dallas based law firm (https://recoverylawgroup.com/bankruptcy/). One of the best alternatives is to get a secured credit card, department store cards, or get credit cards with a consignor. Once you behave responsibly with these, the chances of getting a regular credit card improve drastically. However, before applying for one, it is important to think whether you need one or not? This is [...]

2023-01-13T08:44:51+00:00
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