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Your credit counselor will go over your options. If you decide not to file for bankruptcy, a credit counselor can still create a debt management plan for you. Similar to Chapter 13, a debt ...
Having a bankruptcy on your record can feel financially restricting. Declaring bankruptcy can cause your credit score to drop significantly and will stick around on your credit report for up to 10...
A foreclosure stays on your credit report for up to seven years and will lower your credit score significantly, often by as many as 100 points, according to Equifax. 2. Focus on improving your ...
Put your waiting period to good use: Bouncing back from bankruptcy’s hit to your credit score takes time. The first step is to open a secured credit card. You’ll make a deposit that becomes ...
The Bipartisan Budget Act of 2018 renewed it for all of the tax year 2017 and offered a wide range of individual and business tax benefits that had expired at the end of 2016, including the "exclusion from gross income of discharge of qualified principal residence indebtedness (often, foreclosure-related debt forgiveness), claimed on Form 982." [2]
A deed-in-lieu of foreclosure involves turning over your home to a lender to avoid foreclosure proceedings. In some instances, going this route could help you avoid paying the remaining loan ...
After bankruptcy, it will probably be harder to access your home equity through loans or refinancing — due to the filing’s appearance on your credit and financial history, and its negative ...
A foreclosure occurs when a lender takes control over a property from a borrower for failing to make timely payments. A foreclosure can damage your credit score and result in loss of property. As ...