Posts Tagged ‘bankruptcy’

When faced with a tremendous amount of debt, some consumers will turn to bankruptcy as a last resort. Generally, there are two different types of bankruptcies that most filers will choose from; the choices vary widely and will usually come down to either debt repayment or debt discharge. However, there are also other types of […]

  Past due accounts and maxed out credit cards are never good for a consumer’s credit report, but some negative marks are much worse than others. The following are some of the worst items that can appear on someone’s credit report, and which can have the greatest negative impact on their credit score: Tax liens […]

It can be perplexing when you think you’re doing all the right things to improve your credit, only to see your credit score drop instead. Whether substantially, or even by just a few points, seeing your score go down can be frustrating, especially if you aren’t sure of the cause. While it can sometimes be […]

     It can be perplexing when you think you’re doing all the right things to improve your credit, only to see your credit score drop instead. Whether substantially, or even by just a few points, seeing your score go down can be frustrating, especially if you aren’t sure of the cause. While it can sometimes […]

If you have unpaid debt and attempts by your lender to collect payment have failed, you could potentially have your wages garnished. When a person’s wages are garnished, a portion of their paycheck is automatically deducted and sent to creditors in order to fulfill the unpaid debt. Once the debt is paid off, the wages […]

While bankruptcy can certainly be a good solution for some people, it is also important to consider the negative repercussions and disadvantages before making any final decisions: Possible increase in insurance premiums This will vary by an insurance carrier’s terms and conditions, plus the state the filer resides in—but those declaring bankruptcy just might see […]

Consumers in debt will sometimes turn to bankruptcy as a way to start fresh and with a clean slate. While bankruptcy can certainly be a good solution for some people, it is also important to consider the negative repercussions and disadvantages before making any final decisions:  Ruined credit Perhaps one of the biggest drawbacks that […]

Some of the following reasons that a bankruptcy court might dismiss a case include, but are not limited to: The filer voluntarily requests a dismissal Bankruptcy isn’t the answer for everyone, and some people realize this after they’ve already filed and the process is underway. There are a number of reasons why somebody might want […]

Often as a last resort, many consumers will turn to bankruptcy to settle debt troubles and to start over with a clean slate. Alas, not all bankruptcy filings are successful, and there are situations in which the court will dismiss them altogether instead of canceling or discharging debts. Although dismissals can occur in any type […]

  If you’re in debt from student loans, here are some of the few different ways that you may be able to have some or all of the debt forgiven: Public service loan forgiveness  Certain public service employees may be eligible for partial student loan debt forgiveness. If you’ve made at least 120 payments on […]