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Type of bankruptcy. What it means for you. Chapter 7. Often referred to as liquidation, this type of bankruptcy means selling off your non-exempt assets to repay your debt.
Chapter 7 bankruptcy. Leslie Tayne, attorney and founder of Tayne Law Group in Melville, New York, says you’re eligible for a mortgage a few years after a Chapter 7 discharge of debt.
Here’s what you need to know before buying a home after bankruptcy. ... (or liquidate) their debt after a specific amount of time. Chapter 13, on the other hand, restructures debt through a ...
With high home prices and high mortgage rates, it may be tough to afford a house on $100K per year, even though that’s a relatively high salary. Following the 28/36 rule, look for a home and a ...
Debt settlement and bankruptcy may eliminate or reduce your debts but will also damage your credit score. Types of debt relief Here’s a closer look at the four best debt relief options and when ...
Debt relief companies are agencies that use a combination of tools, including counseling and debt settlement services, to help you get out of debt faster in exchange for a fee. Many require you to ...
Working with a debt management company can result in less debt or a faster payoff — but there are often hefty fees, often up to 25 percent of the debt enrolled, attached to the services. Working ...
When filing for bankruptcy, the goal is to eliminate as much debt as possible and get a fresh financial start. As part of this process, several types of debts will be discharged immediately or at ...