Currently viewing the category: "Credit After Bankruptcy"

What’s Worse; Bankruptcy or Trying to Wait Out My Creditors?

On May 19, 2011 By

Question:

I am considering filing chapter 7 bankruptcy. My credit is already bad (526), is it worse to have a bankruptcy or charge offs and collections on my credit report? At this point Discover and American Express put a charge off against my credit; will a chapter 7 banrkuptcy stop this?

Answer:

Bankruptcy actually helps [...]

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Can I Rent a Home/Apartment After Bankruptcy?

On April 11, 2011 By

Question:

I am converting from a Chapter 13 bankruptcy to Chapter 7 bankruptcy because I am now unemployed. However, I have a prospect for a job, but it will only be a contract position lasting 6 months, and it is at a lower salary than I used to earn. Is this the right thing to [...]

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Can I Qualify for Student Loans After Bankruptcy?

On February 7, 2011 By

Given the difficult economic times, many individuals are facing career transition and heading back to school to learn new skills. As part of that transition, many of those individuals must file bankruptcy to receive a financial fresh start. At the same time, these individuals must fund their retraining with student loans; so the question arises, [...]

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Two Bankruptcy Secrets Your Creditors Don’t Want You To Know?

On January 8, 2011 By

Bankruptcy is NOT a 10 year death sentence to your credit. MOST PEOPLES’ CREDIT SCORE WILL BE IN THE LOW 700’S WITHIN 18-24 MONTHS AFTER BANKRUPTCY. Most people lose nothing in a chapter 7 bankruptcy (except the debt, of course).

Credit rebuilding after bankruptcy occurs fairly quickly and you will have access [...]

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Renting Cars After Bankruptcy?

On November 27, 2010 By

A surprisingly common concern from potential clients is the perceived inability to rent a car after bankruptcy. Most car rental companies require a credit card and now run “credit worthiness” reports for people trying to rent a car with a bank debit card. The concern is that the person won’t be able to have a [...]

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Can A Credit Card With $0 Balance Survive Bankruptcy?

On October 28, 2010 By

Question:

If I have a line of credit/loan through my credit union and the balance owed is $0 will I be able to keep the $5,000.00 line of credit

Answer:

There is no definitive answer to your question because the answer depends on the internal policy of the underwriting bank; but most of the time, [...]

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