How do bankruptcies work? When you file for bankruptcy, your debts are either reorganized so they're easier to pay off, or wiped out so you don't need to pay some or all of them. The exact process depends on the chapter of bankruptcy you file for. When s...
When you're drowning in debt with no end in sight, you may start wondering if you should file for bankruptcy. There are both benefits and drawbacks to taking this drastic step, so it's important to know what you're signing up for. Here, we'll discuss how bankruptcies work and help yo...
Bankruptcy is a status in which a court, by way of a judicial process, deems a person unable to pay their debts. There are two kinds of personal bankruptcy for which you can file: Chapter 7 and chapter 13 bankruptcy. What’s the difference between chapter 7 and chapter 13 bankruptcy fili...
Bankruptcies and Real Estate Purchases Bankruptcies are something no one wants to go through but, unfortunately, it is a fate that befalls many citizens. When a homeowner declares bankruptcy, they essentially agree to forfeit their property or have it repossessed. This occurs so the people to who...
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Bankruptcies Tax liens Fixer Uppers With such an extensive range of properties that can potentially be purchased below their market value, foreclosures.com can be a very happy hunting ground for property flippers. There is just one catch that you need to be aware of with this particular sit...
Credit history to check for bankruptcies. Some policies also require a life insurance medical exam, which will reveal your weight, blood pressure, nicotine use and other health issues. » MORE: Behind the scenes: Life insurance underwriting Filing a false claim This doesn’t just happen in Hol...
Credit Canada can streamline the process by providing guidance and counselling to improve your financial literacy — and your financial health. There are a lot of myths and misunderstandings about credit reports. Our professionally certified Credit Counsellors will help you understand how credit reporting...
Chapter 7 and Chapter 13 bankruptcies differ primarily in how they handle debts and assets. Chapter 7 involves selling the debtor's non-exempt assets to pay off creditors. Chapter 13 bankruptcy, often called reorganization bankruptcy, allows debtors to keep their assets while repaying debts over t...
Chapter 13 bankruptcies andforeclosurescan remain on yourcredit reportfor at least seven years; Chapter 7 bankruptcies can linger on credit reports for up to 10 years.1Unfortunately, you can’t do anything to remove those negative marks sooner. But it’s important to monitor your credit reports...