Clark Howard shares some advice on how to improve credit scores. In order to improve your credit score, it is important to understand the factors that go into calculating your score. The chart below shows the 5 factors that go into improving credit. It also shows how much each factor matters when it comes [...]
Fast Company shares the stories of multiple people who have filed for bankruptcy. They share why it has been the best decision they've ever made. "Clean Slate" Whitney Reynolds filed for bankruptcy in 2014 because of overwhelming credit card debt. She had racked up $23,000 of credit card debt since graduating college. Her father [...]
Stimulus money is finally being delivered to families in need across the country! You NEED to know the following before utilizing your funds when you are also filing for bankruptcy: Why Do You Need to Protect Your Stimulus Funds? Your creditors know you are receiving these funds. It is likely they will expedite collection actions [...]
Dischargeable Debts in a Chapter 7 Bankruptcy When it comes to Chapter 7 bankruptcy , the primary goal is to get most (if not all!) of your personal debts discharged. From the sky-high credit card bills to medical debts - and everything in between - discharging your biggest debts can give you the fresh start [...]
Using Bankruptcy to Stop Credit Card Collections Can Bankruptcy Stop Credit Card Collections? Bankruptcy CAN stop collection attempts from credit card companies that include lawsuits or other forms of legal action. The automatic stay offers protection from collection attempts and stays in place until your case is completed. The stay goes into effect when you file bankruptcy, either Chapter [...]
Debt is a problem that comes with a number of consequences. This includes garnishment of your income or bank account. When financial instability makes it difficult to pay the bills and creates concerns about the future, it can quickly lead to the accumulation of credit card debt. When the problem goes unaddressed, creditors and debt [...]
The Fair Credit Reporting Act was created to help consumers dealing with errors on their credit report. When disputing something on your report, you will want to take action in the best possible manner. Otherwise, with one mistake, you will be forced deal with a host of problems. With this in mind, here are six [...]
It is common for people to have outstanding debt and while the amount owed varies, many may not be aware of how close they are to having their creditor take legal action against them. For a number of debtors, legal action from a creditor comes at a time they least expect it. This reason alone [...]
Getting rid of a lawsuit in bankruptcy depends on a few factors. One of the main factors includes determining if the liability associated with it is dischargeable. Sometimes a debtor may receive a lawsuit or learn of being sued and ignore it. This can turn into a default judgment giving creditors an upper hand on taking [...]
In many cases, assets that belong to your spouse may be off limits to creditors but it depends on the circumstances of the spouse filing for protection. There are a few factors to review that may give clarity regarding account funds. You need have a good idea of what assets are considered part of your [...]
