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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.
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.
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...
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.
Many banks, credit unions and credit card companies offer free credit reports and scores as part of their services. You can also get a free copy of your credit report on a weekly basis from all ...
If you're heavily in debt, you're not alone: a GOBankingRates survey found that the average American is $63,000 in debt. Whether your debt is from student loans, credit cards, mortgage loans, auto...
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 ...
Through a debt management program (DMP), you work with a credit counselor on a roadmap to help you get out of debt sooner. The plan includes budget development to help you better manage your finances.