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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...
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 ...
The history of debt counseling and management services is checkered. There have been numerous abuses and efforts to counter abuses statutorily in many states. These services have been criticized for their efforts to steer debtors away from bankruptcy when it may have been more advantageous and less costly to debtors to file. Many states ...
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.
Bankrate insights. If you have more credit card debt than you can handle, you have some options: Stop paying your credit card bill: If you opt for this approach, the debt is turned over to 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 ...