Bankruptcy Chapters

If you’re struggling under what feels like a debt mountain, you’re probably ready to consider a variety of options to ease or eliminate your financial burden. And, if you don’t think bankruptcy is right for you (or if you’re ineligible for bankruptcy because of a recent filing), you may be wondering whether debt settlement could help.

While debt settlement does work for some people, it can be risky to sign on with a debt settlement firm – less-than-scrupulous companies abound and can cheat consumers out of money when they can least afford to lose it.

When Can You Trust a Debt Settlement Firm?

A recent article from WalletPop.com offers some tips for spotting a trustworthy debt settlement company. Here’s a summary.

• Do some background sleuthing: Before you even leave your house to visit a debt settlement firm, use the tools available to you to nose out a trustworthy company in your area. You may want to start with a simple internet search, but be sure to check any company you consider with the Better Business Bureau for its grade (although newer companies may not yet have any useful comments – good or bad – on that site yet). You should also

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Tags: Debt, Debt Settlement

This personal bankruptcy story was posted on the internet in November of 2010 as a comment in a discussion on bankruptcy: “I was offered a absolute no charge refinance by my mortgage co that will lower my interest rate, with no credit check, cost or nothing. They tell me that this is a government program and would close in 19 days. This will lower my monthly payments by $130.00. I do plan on keeping my house after filing [for bankruptcy protection]. I plan to file in Dec or Jan. Question is – This will not have any impact on my chapter 7 will it?”

The debtor in this personal bankruptcy illustration wants to know if refinancing the home he wants to keep will have any effect on his filing a Chapter 7. What he probably needs to know is state laws can influence federal bankruptcy cases. Many states have homesteading laws that prevent bankruptcy courts from liquidating your homestead as part of a bankruptcy. Depending on which state you live, exemption laws also influence whether a home owner can keep his domain under a bankruptcy filing. In either of these cases, the home owner must keep current with his or her mortgage payments if they want to keep the property, or they can suffer the usual consequences for default on a secured property. Depen

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Tags: Bankruptcy, Bankruptcy Cases

Before the credit crisis that crept in 2008/2009 the number of first time UK mortgage borrowers was in millions.A large range of mortgage lenders competed aggressively for first time buyer mortgage business, in the hope that once someone takes out a first time buyer mortgage, they may remain as a customer for many years.The total UK mortgage market is influenced by the first time buyers.To maintain the momentum of sales further up the property ladder, there must be a flow of first time buyers moving onto the bottom of the ladder to keep the cycle going.It is no coincidence that now first time buyer activity has decreased, house prices have stagnated or even started to fall in many areas of the UK. 

It was possible to obtain first time buyer mortgages prior to the credit crunch, with little or no deposit.Actually in the before periods ranging from 2005 to 2007 there was a 100% mortgage lending that was provided where the customer need not have to pay anything to take the mortgage.At this time the lender were more particular about numbers and not about the quality of the loans being given as they were willing to risk with the high value loans.This does not mean that UK mortgage lending was done relentlessly as the observations show that for the pat 24 months the loans that were issued were at an acceptable rate.

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Tags: Buyer, First Time, First Time Buyer, Time Buyer

If you’ve filed for bankruptcy, you’ve probably already heard a thing or two about how important it is to rebuild your credit. A recent post at CreditBloggers.com provides an excellent guide for how, precisely, a person can begin this daunting process.

Here’s a look at some of the key tips discussed on the post.

Know Where Your Credit Stands

If you haven’t already, now is the time to visit AnnualCreditReport.com and get a free credit report from each of the big three credit reporting bureaus (every American is entitled to one free credit report per year from each bureau). When you get the report:

• Review all the information carefully: Accounts that were discharged in your bankruptcy filing should have a balance of zero dollars and indicate that the debt was forgiven in bankruptcy.
• Look for mistakes: Check for any incorrectly reported information – this could include a report that you still owe money on an account that was discharged.
• Contest the mistakes so they can be removed: If you notice any incorrectly reported information, contact the credit reporting bureau and identify the problem. You’ll pr

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You may be looking to get a debt consolidation loan but are worried that you won’t get a loan because you have bad credit. However there are many companies that are tailored just to people who have bad credit. This makes getting a debt consolidation loan much easier than it used to be. If you’re looking for a debt consolidation loan look for a company that works specifically with people who have bad credit. Sometimes the type of loan will also have an effect as to if you qualify for it.

A secured debt consolidation loan is one of the easiest loans you can get if you have bad credit. The only downside is that it requires you to put some sort of collateral, like a house or car, on the line. If you fail to make payments the lender will take away your asset instead. A secured debt consolidation loan is handy since they have low interest rates and can extend anywhere from 5 to 30 years.

The other type of loan that you will encounter is an unsecured loan. Unsecured loans are usually more difficult for people with bad credit to get but they’re not impossible to get. This is the type of loan that most people prefer as you don’t need any type of collateral to get it. If you’

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Tags: Bad Credit, Consolidation Loan, Credit, Debt Consolidation Loan