Currently viewing the category: "Credit During Bankruptcy"

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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What’s More Important, Your Credit Score or A Roof Over Your Head and Food on the Table?

On April 3, 2009 By

I am often struck by the lengths people go to protect their credit score (devastating and liquidating savings and retirement funds); certainly your credit score is important, but your score is by no means the end all be all of your financial life.

Or perhaps, as someone pointed out to me, your credit score may [...]

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Can I Use Credit While In Chapter 13 Bankruptcy?

On March 20, 2009 By

In Chapter 13 bankruptcy you will receive offers for credit after you file your case. Some of the offers for credit, especially for cars and houses, will require that you get permission from the Chapter 13 Trustee, who oversees your case.

You may need permission from the Chapter 13 Trustee, because taking on debt while [...]

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Is there Credit After Bankruptcy?

On March 20, 2009 By

In Chapter 7 bankruptcy you will receive many advertisements from companies offering to provide you with credit (credit cards, houses, cars, etc) as soon as you file your case. These companies charge high interest rates and want you as a customer.

Why do they want you as a customer? In most cases you have now [...]

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