Filing For Bankruptcy? Don’t make these common mistakes

Common Bankruptcy Mistakes #1. Liquidation of your Retirement Account
In most bankruptcy cases, the petitioner’s retirement account is protected. However, despite this fact, many people choose to liquidate their retirement accounts and other assets in order to satisfy or pay down their debt prior to filing for bankruptcy. In most instances, this is not recommended, and [...]

How to Rebuild Credit, Post-Bankruptcy

My wife and I just emerged from bankruptcy. Before that, we both had excellent credit scores and access to good credit cards with major lenders. Unfortunately, I’ve been laid off three times since 9/11 because of company downsizing, and we had to charge our health insurance COBRA payments and food and other essentials to our [...]

When filing for bankruptcy, Full disclosure essential

Q. I’m in the process of getting ready to file for Chapter 7 bankruptcy. I have been current on my house and car payments. There is not any equity in the house as I now owe more than it’s worth.

So, in filing, do I need to list the house and vehicle, although I don’t want [...]

How To Get Loans After Bankruptcy

Most people think that it is probably impossible to get any kind of loan after bankruptcy discharge. While it is surely difficult to get any loans approved after bankruptcy, it is certainly not impossible. It is surely possible if you have the time and effort to look at the right areas. The possibility of getting [...]

Dealing with car loans after bankruptcy

Q: I filed for bankruptcy protection last year.
In the process, I had a car loan reaffirmed.
The car is no longer on my credit report. Why? I even went to a dealership for a new car loan, was approved and no mention was made of my other car loan. What happened to the car loan after [...]

The Need to Rebuild Credit after Bankruptcy

Before, filing for bankruptcy seemed like storing a letter on your coffer. Individuals who have made bankruptcy are usually pariahs and outcast. It was comparable to a transmittable disease that no one will dare to come close to the person who has filed for bankruptcy.
Bankruptcy today, does not anymore provide the same unconstructive results than [...]

Filing for bankruptcy is no easy out

Filing for bankruptcy is the last resort in personal finance — the rope thrown to someone stuck in a quicksand of debt. Drowning in debt is as serious as it sounds, but declaring bankruptcy is no easy out — it carries serious consequences. These consequences include increased difficulty in securing loans, apartments, cars, insurance and [...]