A recent report by the Consumer Bankruptcy Project revealed that credit cards were one of the leading causes of senior citizens filing bankruptcy. In a survey conducted, two-thirds of seniors filing bankruptcy said that it was credit card interest and fees that drove them to bankruptcy, while only 53 percent of younger debtors in bankruptcy [...]
One of the challenges debtors face after their bankruptcy discharge is the persistent and high unemployment that has gripped our nation in the past few years. Some analysts are saying that the high rate of unemployment could remain with us into the foreseeable future and that it could take decades before we see their type [...]
So you've emerged from Chapter 7 or Chapter 13 bankruptcy and you even have a new credit card. First of all, congratulations, you're well on your way to rebuilding your credit after bankruptcy. You are joining the millions of Americans who are taking full advantage of the fresh financial start that bankruptcy offers. But what [...]
Receiving a bankruptcy discharge is not only the starting point of your financial fresh start; it is the first step you will take to reestablishing your credit. After your bankruptcy exit you will need to begin rebuilding your credit rating and history by establishing and maintaining new relationships with lenders. In order to do that [...]
Unlike the cries of many bankruptcy opponents, filing bankruptcy does not mean the end of your access to credit. Bankruptcy gives debtors a clean slate, allowing them to free themselves of impossible to pay debt and to begin rebuilding their financial life. One part of that new financial life is access to credit. Below are [...]
One of the biggest problems post-bankruptcy debtors face is recreating the debt troubles after bankruptcy that put them into bankruptcy in the first place. In previous posts, we've talked briefly about how post-bankruptcy debtors can avoid the debt trap; but what happens when despite their best efforts, debtors end up in debt again after their [...]
Many debtors are surprised that after their bankruptcy is discharged they find themselves receiving many credit offers. Credit card companies, car loan lenders and even mortgage finance companies will send post-bankruptcy debtors credit offers hoping to capitalize on their clean financial slate. But beware; many of these creditors are subprime lenders who prey on people [...]
Debt is big business. That's why there are so many people out there invested in getting you indebted and keeping you that way. One of the ways they do this is by spreading myths about bankruptcy, which is the only legal way to have your debts forgiven. Let's take a look at some of the [...]
When considering bankruptcy, many debtors only focus on the process; but the most important part of bankruptcy is after the debtor receives their bankruptcy discharge. It is the time after bankruptcy that the debtor is beginning their fresh financial start. So how does a debtor thrive after they receive their bankruptcy discharge? Let's take a [...]
When debtors file for bankruptcy without the help of an attorney they often run into troubles such as post-bankruptcy filing bank levies. One of the mistakes that pro se bankruptcy filers make when submitting their bankruptcy paperwork is forgetting to notify all of the parties involved in collecting their debt payments. For example, before filing [...]