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bankruptcy

Taking On Your Credit Report: Step Two

After you’ve pulled your credit report, adjusted your mindset to your new, lower credit score, and made your credit score goal of 720, you’re ready for the next step. Step Two: Update Your Information with the Credit Bureaus Start at the beginning and make sure that all the information reflected ...
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bankruptcy

Taking On Your Credit Report: Step One

The first thing you have to do when it’s time to restore your credit after bankruptcy is to access your credit. Pull your report and get a good understanding of where you are and where you want to go. What do I mean by that? Step One: Pull Your Credit ...
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bankruptcy

Can Debt Collectors Demand Payment from Third Parties?

We know from a previous article that debt collectors are governed by strict guidelines; some of which restrict their contact with third parties in regards to your debt. Yet it is obvious that the reality of the matter has collectors breaking a lot of the rules a lot of the ...
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bankruptcy

You Co-Signed and They Defaulted, What’s the Next Step?

If anyone ever calls you and asks you to cosign a loan for them, regardless of who they are, your answer should be no. Don’t do it – unless you like the idea of financial trouble and pending bankruptcy proceedings. If you’re going to ignore this sage wisdom and become ...
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bankruptcy

The Four C’s: Analyzing a Credit Application

There are four major elements of a general underwriter’s guidelines in reviewing and analyzing a credit application for the lender. We like to call it the Four C’s: credit, capacity, collateral, and character. The Four C’s: Credit – The applications you submit immediately after bankruptcy, at the beginning of your ...
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bankruptcy

What Makes Up Your Credit Score?

It’s one thing to decide that you are going to rebuild your credit score after bankruptcy, but it’s another thing to do it – particularly when you aren’t sure where credit scores come from. What makes up your credit score? Payment History (35%) Outstanding Debt (30%) Age of Your Credit ...
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bankruptcy

Tell Your Bankruptcy Story: Your Very Own Sound Bite

According research, over 80% of bankruptcy petitioners have dealt with: illness, divorce, or unemployment. What’s your bankruptcy story? Prepare your very own 30-40 second sound bite explaining why you filed for bankruptcy protection. This is important because as you begin your quest towards a credit score of 720, you are ...
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bankruptcy

Addressing the Consequences of Fraud with Bankruptcy

The majority of card fraud occurs in the United States. In fact, research conducted by Barclays indicates that 47% of worldwide card fraud occurs in the U.S. even though we only claim 24% of the worldwide card volume. In 2014, 31.8 million U.S. consumers had their credit cards breached. That ...
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bankruptcy

Bankruptcy’s Law of Preferences: Getting Garnished Wages Back

When in a tight situation financially, it can get to the point where you thought you could manage or catch up and suddenly, your bank account has been cleaned out and your wages are being garnished. This can be completely devastating as it leaves the individual (and sometimes family) without ...
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bankruptcy

Bankruptcy Schedules: How Much Do You Spend on Healthcare?

When it comes right down to it, most people don’t have any idea how much they spend on health care. When you’re filing for bankruptcy, one of the forms or schedules that must be completed is a budget. When the discussion of bankruptcy gets rolling, it’s hard to get very ...
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