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Applying for a mortgage post-bankruptcy is similar to a regular application — only with a few extra steps. That way, when your bankruptcy discharges, you’ll be on the road to homeownership. 1.
After bankruptcy, the money that would have gone to debt payments can be redirected to other needs. To make the most of this opportunity, create a new budget to plan your monthly spending.
Image source: Getty Images. I practiced bankruptcy law for a decade and one of the biggest concerns potential new clients had was whether they would be able to get credit again after the ...
But if you've recently filed for Chapter 7 or Chapter 13 bankruptcy protection, it's important to realize that there is life after bankruptcy. And it doesn't have to be a life where you're treated ...
Since high-interest debt tends to eat away at most of your extra money, ... will typically file for one of two types: Chapter 7 bankruptcy. ... to a repayment plan of three to five years. ...
There’s typically a waiting period after bankruptcy before applying for a new loan, including a mortgage. The length of the waiting period depends on what type of bankruptcy you filed for.
Chapter 7 is a liquidation bankruptcy, where one's nonexempt property and assets — possessions not protected by bankruptcy — are turned over to a trustee, and debt is discharged in 3 to 6 months.
One big difference between a savings account and a CD is that a CD typically locks up your money for a set term. If you withdraw the cash early, you’ll be charged a penalty. If you withdraw the ...
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