The Dangers of Not Having Credit Counseling Before you File for Bankruptcy

The bankruptcy court will dismiss your bankruptcy petition if you have not obtained credit counseling prior to your court hearing. This article describes the credit counseling process, and the dangers of not having a certificate of completion of credit counseling before you go bankrupt.

Credit Cards Can Aid Bankruptcy Loan Approval!

At this point you probably know that in order to get approved for a loan after bankruptcy, you need to improve your credit history and raise your credit score. There are plenty of ways to do so but the use of a credit card is an excellent alternative as it will aid you to recover your credit faster and more efficiently.

A Mortgage Loan after Bankruptcy: Deal or No Deal

Many people believe that having a bankruptcy on your credit report will completely destroy any chance of getting a mortgage loan. While it is true that it certainly does not help your credit, you should know that bankruptcy does not mean you will never again be able to obtain a mortgage loan.

What Is The Cost Of Declaring Bankruptcy And Are There Any Other Options?

A lot of people are running into financial difficulty these days - especially with a lot of major corporations going through layoffs and buyouts. What this means is that a lot of people find themselves suddenly unemployed and it may take some time to get another good paying job.

Bankruptcy Defined

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested by creditors in an effort to recoup a portion of what they are owed.

Considerations Before Filing Bankruptcy

Sometimes that established or new business gets to a point where it costs you more to run it than the revenue it produces. Sometimes that happens with personal finances too. Make sure you consider all the options before filing bankruptcy, and if you need to file, make sure you understand the ramifications of bankruptcy law.

How Long Does it Take to Recover From Personal Bankruptcy

The more time you have after your bankruptcy is discharged the more opportunities you'll have to get credit.

Pros And Cons Of Filing Chapter 13

Chapter 13 is for individuals with a standard income, keeping in mind their intention to pay their debts but who are unable to do so in a timely manner. The purpose of Chapter 13 is to facilitate financially distressed individual debtors to propose and carry out a settlement plan under which creditors are paid over an extended period of time. Filing of Chapter 13 has many advantages and disadvantages.

How To Avoid Bankruptcy with Debt Consolidation

You have unbearable debts and considering filing a bankruptcy as your debt relief? Bankruptcy has many undesirable consequences that will follow you for many years, it will remain on your credit report for 10 years; almost no lender will even consider you as a borrower for at least 2 years. Debt consolidation will always be your better option than bankruptcy. Read this article to get more information on how to avoid bankruptcy with debt consolidation.

Bankruptcy Myths Dismissed

There are tons of myths about bankruptcy that you yourself may have given into. Here's where we dismiss these myths for you.

The Basics of Bankruptcy

Most people don't understand bankruptcy until they are faced with it. Even then, a lot of people still don't understand what is really happening. In the most general terms, bankruptcy allows a person having financial difficulties to wipe out his or her debt and start fresh. People file bankruptcy for numerous reasons: divorce, unemployment, death in the family, lawsuits, illness, medical bills, foreclosures and credit card debt.

Can You Choose the Type Of Bankruptcy Filling?

You can choose the bankruptcy type to be file against, but you may not eligible for the bankruptcy type of your choice if you do not meet the required criteria. Read this article to get more information on bankruptcy types and the eligibility criteria for each bankruptcy type.

IVA - How an IVA Works

An IVA is a government alternative to bankruptcy. An IVA is a great option for those who feel there is no other choice other than bankruptcy.