BankruptcyDecember 4, 2020by Jim Mielke1
Filing For A Credit Card After Bankruptcy
Filing for Bankruptcy can have grave implications on your credit score. One of the major downsides to filing for bankruptcy is having a bad credit score for the following 7-10 years. This is why it can be particularly difficult for you to get a credit card after bankruptcy. (more…)
BankruptcyFebruary 25, 2019by Jim Mielke
More Americans Are 90 Days Late on Their Car Payment Than Ever Before
There may be new evidence that a strong job market does not necessarily lead to financial freedom for individuals. Over 7 million Americans are at least 90 days behind on their car payment. A car is a necessity for most people and the idea of losing it to repossession is enough to keep them awake at night. What can these individuals do to get back on track? Who Is Struggling with Car...
BankruptcyJuly 17, 2018by Jim Mielke
A Guide to Personal Bankruptcy Under Chapter 7 (Part Two)
At this point, we know that not everyone is eligible to file for bankruptcy under Chapter 7, we know you must complete credit counselling before you file, you must take the means test, and you must have less than $100 of income after the calculation (generally). There are exempt assets (things that do not have to be liquified by law) and non-exempt assets (things that are usually liquified...
BankruptcyCredit Cards, Debts, Negotiations, & SettlementsMarch 9, 2018by Chris
A Step By Step Guide To Chapter 7 Bankruptcy
Bankruptcy comes in two forms for most debtors, Chapter 7 and Chapter 13. Chapter 7 is the preferred type of case to file because it allows a debtor to get rid of all of their unsecured debt. And, in most cases, it is having too much unsecured debt that puts people in the position to need the relief bankruptcy can provide. But before you decide to file a case and count on being able to file a...
BankruptcyDecember 19, 2017by Chris
Four Ways To Tell If Chapter 7 Bankruptcy Is Right For You
Making the decision to file for bankruptcy is a difficult one, and it is made all the more hard when you realize you have to determine what type of case you are eligible to file. The two types of bankruptcy available to individual and joint consumer debtors are Chapter 7 and Chapter 13. In a Chapter 7 case you are able to discharge all of your unsecured debt. Unsecured debt is debt that is...
BankruptcyOctober 16, 2017by Chris
Two Ways To Prevent Foreclosure
Foreclosure is your mortgage lender’s way to take back your house if you become delinquent on your mortgage note. Some lenders act more quickly than others, while some take a while to start the foreclosure process. In either case, you need to know that there are things you can to do prevent a foreclosure and save your house. If you are in this situation, let us help by explaining your options...
BankruptcySeptember 7, 2017by Chris
Is The Paperwork Different For A Chapter 7 Versus A Chapter 13?
There are two types of consumer bankruptcy cases; a Chapter 7 and a Chapter 13. A Chapter 7 is a total liquidation of all of your debts, expect the ones for things you want to keep. Most people need to hang on to at least their home and their car, even in bankruptcy, and so these loans still have to be paid. On the other hand, a Chapter 13 is a reorganization of debts, where you pay back less...
BankruptcySeptember 1, 2017by Chris
How Does Bankruptcy Affect Credit?
If you are having a hard time paying the bills and are behind on certain things, chances are your credit score has taken a hit. Your credit score is what lenders rely upon when making loans, and a higher score usually results in being offered more favorable lending terms. The most important of these terms is typically the interest rate, and people with credit that is considered good usually...
BankruptcyAugust 11, 2017by Chris
Can I Buy A New Car If I File For Bankruptcy?
Houses and cars are the two biggest purchases most of us make during our lifetimes. A lot of research goes into making either of these purchases, and both can be life changing. When you buy a new home you are making the decision to plant roots, and maybe raise a family in one spot. When you look at new cars, you have to decide which one will be just right for you as far as size and safety....
BankruptcyCredit Cards, Debts, Negotiations, & SettlementsAugust 7, 2017by Chris
Five Ways To Manage Debt
Managing debt is no fun, but is a necessary part of life if you want to have financial success. The key to successful debt management is to come up with a plan that works for you, and stick to that plan. Once you have identified your financial needs, you are better prepared to come up with a debt management plan that makes sense. Regardless of whether you have a little debt, or are struggling...