Facing bankruptcy can set you back, but it is not the end if you dream of being financially independent again. Many people wonder when they can qualify for a mortgage again. Let us explore the waiting periods for different types of mortgages and how the rules work in...
Although a bankruptcy discharge makes it more difficult to secure a loan, it’s not out of the question. There are many steps you can take to improve the likelihood of an approval. Here’s what you need to do: Review your credit report. It’s important to know exactly where things stand in regard to your credit report, as this helps you…
If you receive a foreclosure notice from your mortgage lender, the best thing you can do is make an immediate phone call to better understand your situation. It’s a common misconception that your lender wants to repossess your home. In all reality, they’d much rather you catch up and continue to make timely payments in the future. If you’ve slipped…
Although you’re likely to lose your credit cards in bankruptcy, you’ll have some big decisions to make once you come out the other side. There will come a point when you once again have to consider the benefits and risks of carrying a credit card. If you’re able to avoid this, it may be in your best interest to do…
After a bankruptcy, you may think you have little left that you can do in your life. You may think you’ll be without the ability to take out a new mortgage, to get credit or to move on with your life for several years. The reality is that you can begin to build your credit back up immediately by things…
Although there are many benefits of filing for bankruptcy, you can’t overlook the fact that this will change your life in a number of ways. For example, a bankruptcy will remain on your credit report for a minimum of seven years. This can make it difficult to secure a loan during this time period. Here are five steps you can…
Once your bankruptcy is approved, you can immediately start working to improve your credit. Some options you may wish to consider when attempting to rebuild credit are to apply for a secured loan or a secured credit card. Secured loans are most often offered at smaller banks or credit unions. The way they work is that you deposit a set…
Whether your debt is still a constant struggle or you are already in the process of bankruptcy, you may have concerns that your credit score will never rise to useful levels, or may take a punishingly long time to do so. The good news is that your credit score can and will go up, if you consistently make certain financial…
Few things may be as intimidating as dealing with overwhelming financial concerns. Along with the monetary ramifications of similar issues, the burdens of debt could also have an impact on your health, as high levels of stress could prove physically and emotionally harmful. With the importance you likely place on both your health and financial future, you may have decided…
As a consumer, it is always wise to understand the rights you have under the law, especially when it comes to carrying consumer debt. As a consumer accrues debt, he or she may find that creditors and debt collectors are surprisingly willing to violate a consumer’s rights in order to collect repayment. Many instances of this type of behavior are…