Category: Life After Bankruptcy Archive
What to Do When You Have a Levied Account?
When a judgment results in your account being levied without your prior knowledge…shock is an understatement. When your account is levied…it’s one of the most overwhelming situations you could ever experience. When a creditor receives a judgment, they can wipe out your checking account to the last penny. The judgment ...
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Obtaining a HELOC to Improve Your Credit Post Bankruptcy
Once you’ve filed for bankruptcy and received a discharge of your debt, you need to attempt to rebuild your credit. If you own your home, you might wonder if it’s possible to obtain a home equity line of credit (HELOC). You might also wonder if doing so would help you ...
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Bankruptcy and Divorce: Can the Lender Be Forced to Remove an Ex’s Name from the Title?
Many individuals find themselves wishing there was a magical method to force a lender to remove an “ex’s” name from the deed to a house post-divorce. They find themselves unable to refinance even if the home was given to them as a part of the divorce decree. Some assume that they ...
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HELOC and bankruptcy: Negotiating, Foreclosing or Settling?
If you have questions regarding how filing for bankruptcy will affect your home equity line of credit, meet with an attorney and have HELOC and bankruptcy explained to you before proceeding. When you file for bankruptcy, the trustee reviews your case. If the trustee has no issues with your petition, ...
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How to Reestablish Credit with No Disposable Income
There are those who talk about the increased strictures that been put in place on credit in today’s market, but even after it became a lot “harder” to get credit…it’s still pretty easy. There are always companies willing to offer credit opportunities, even to those with little to no income. ...
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Bankruptcy and Home Mortgage
Many of the clients we consult have early questions regarding bankruptcy and home mortgage. When filing for Chapter 7 bankruptcy, consumers have the option to reaffirm their mortgage. If filers are current on their loan payments and will be able to meet future payments, reaffirming the loan simply informs the ...
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What Happens When Your Student Loan Cosigner Files for Bankruptcy?
With rising tuition prices across the nation, it’s not surprising that there is so much talk about bankruptcy and student loans, excessive student loan debts, and astronomical student loan payments. What many are wondering, but not many are sure about is what happens when the cosigner on a student loan ...
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Death and Debt
In total, American consumers owe $11.74 trillion in debt (as of 2014), an increase of 3.3% from the year before. $882.6 billion of that debt is credit card balances. $8.14 billion is mortgage loan balances. $1.13 trillion is accounted for by student loan balances (an increase from 8% from 2013). ...
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What Happens If Someone Has a Judgment Against Me from Old Credit Card Debt?
In some situations, unpaid credit card debt can lead to a lawsuit. The lawsuit could lead to a potential judgment. If someone has a credit card debt judgment against you, your wages, your bank account and your property are at risk. In California, the judgment rate of interest is set ...
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Will My Vehicle Be Repossessed When I File for Chapter 7 Bankruptcy?
Many consumers who are considering filing for bankruptcy have the same question regarding a possible bankruptcy and auto loan, “Can my car get repossessed when I file for Chapter 7 bankruptcy?” The simple answer is yes; your car loan lender can get the court’s permission to repossess your vehicle during ...
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