Bankruptcy Filing Process - Is Filing For Bankruptcy Expensive?
By Bryan Burbank
Before filing for a bankruptcy it is important that you know what is involved. You need to understand what the impact will be on your family and your credit history once you decide to file for bankruptcy. The actual filing fees are not very expensive but you need to find a lawyer that has experience to help you fill out the proper forms. Once you file for bankruptcy it can stay on your credit report for up to 10 years and during this time it may be difficult for you to get a loan on a new car or at home. You may want to consider all factors involved in the side if a bankruptcy is your best option.
You need to decide whether filing a bankruptcy is the only option you have available to you. If you are in a situation where you have a lot of debt there can be other options available. It may make more sense for you to get a debt consolidation loan than having a bankruptcy on your credit report for 7 to 10 years. There are many places where you can consolidate all the debt you have and roll it into one easy to manage loan payment. Make sure you talk to an expert and find out all the positives and negatives there are two officially filing for bankruptcy.
Remember that your last option should be fine for bankruptcy when you are in debt. There are many options are available to you including getting a consolidation loan where you can have all of your debt into one easy to manage payment. Before filing you need to understand that a bankruptcy will stay on your credit for 7 to 10 years. During this period of time it may be difficult for you to get approved for a loan for a car or a house.
Know the: Bankruptcy Filing Process
How to: File Bankruptcy for Free
Bryan Burbank is an expert in the field of Bankruptcy and Getting out of Debt.
======================================
7 Ways to Avoid Your Car Being Repossessed
By Rehan Chaudry
If your car has been repossessed or you have been served with a default notice finding useful information can often be difficult. But could this whole situation have been avoided in the first place? Below are some top tips on avoiding car repossession:
1) SHOP AROUND - When you first go ahead with a purchase its important to check the market. There are many companies offering different rates and different terms. Shopping around can get you the best deal and ultimately save you money so payments can be more affordable during more difficult times.
2) DECIDE WHICH IS THE BEST TYPE OF LOAN FOR YOU - Secured loans, hire purchase car credit are all different types of loan. Check carefully which is most suited to you and your budget to avoid your car being repossessed.
3) DON'T BE PUSHED INTO ANY DEAL - When buying a car or getting a loan for a car you can easily be pushed towards the wrong option for you by commission hungry salesmen. Don't commit to anything until you have done your research. There is no harm in asking for a day or two to think about your final decision.
4) CALCULATE THE TOTAL AMOUNT TO BE REPAID - Although repayments may be low how much are you actually paying by the end of the agreement? Buyers often overlook how much they will end up paying and ultimately end up paying much much more.
5) CAN YOU AFFORD THE REPAYMENTS? - Are you buying over your budget? Is this really what you can afford. Sometimes the desire for having a nicer car than your budget can afford will bring problems when making repayments.
6) CHECK THE SMALL PRINT - When signing any agreement it is imperative to check the small print thoroughly and know your rights. Remember these contracts have been drawn up by cunning lawyers who are paid by the loan companies to make the deal seem more attractive and get the most out of you if you default on payments.
7) SPEAK TO THE LOAN COMPANY - If you are struggling with repayments, DO NOT HIDE. Often just speaking to the loan company can be the best way to avoid having your car repossessed. They may be able to adjust your repayment schedule or allow you time to come up with the funds.
If you found this article useful please feel free to find more information on car repossession or where to buy a repossessed car.
=======================================
How You Can Get Credit Cards After Bankruptcy
By Kate Ross
Bankruptcy need not be the end of your ability to borrow money or have credit extended on your behalf. Although it does take some time to rebuild your borrowing reputation and restore your credit to its once former glory - it can be done and one of the best ways to begin your rebuilding process is to obtain credit cards as soon as possible after bankruptcy discharge is complete.
Easy To Obtain
The easiest to obtain type of credit card that you can get once you have filed bankruptcy is the secured one. It works just the same as a normal card that you might get from any issuer - and it will usually bear the Visa or Mastercard logo. You can use it anywhere that accepts the card brand to make purchase at the point of sale or to withdraw cash from an automated teller machine (ATM).
In addition, you can also take cash advances upon it. The best feature is that it will report either monthly or quarterly to the three major credit reporting bureaus in the United States - Experian, Trans Union, and Equifax. Thus, by making timely payments on your account, you will be adding valuable points to your credit score all the while building your credit report up to make you appear to be more appealing to potential lenders.
Refundable Deposit
To obtain your secured credit card post bankruptcy, you will be asked by the issuer to place a deposit that is equal to the amount of credit that you wish to have extended to you. Your deposit will draw interest, in most cases, and will be returned to you at the end of a specified period of time - providing that you have made all payments as required; at the same time that your deposit is returned, your account would revert over to a normal account. The deposit will stand good in the instance that you should default from your original agreement - and will be used to cover any outstanding balance that you might have should you default. This would mean that you forfeit your deposit amount.
Managing Your Credit Card
You may elect to get more than one secured credit card. Having more than one will definitely add more points to your score with proper usage. Using it to your best advantage can take a bit of juggling numbers - but should be easy to learn after a couple of months. You should use no more than 50% of your available credit line, and you should always run a balance of 30% of the total amount of available credit each month.
For example, for a secured credit card with a $1,000 credit line, you should charge no more than $500 in one month, and pay off all that you have charged except for $300, during the billing cycle. This is the fastest method to add points to your credit score. Your wise usage can move you forward to better cards with reduced interest and higher credit limits.
Online Secured Credit Cards
The Internet has become the number one source for obtaining credit cards of all types. Secured credit cards are readily available through online card issuers who deal with bad credit and bankruptcy borrowers everyday. Find your best interest rates with an online lender today.
Kate Ross has a Master in Finance and has been a university teacher as well as a financial consultant for years. She specializes in Unsecured Loans and also in helping people to get approved for Guaranteed Loans for Bad Credit home loans, guaranteed loans, bad credit auto loans, guaranteed credit cards among many other financial products. For further information, please visit SpeedyBadCreditLoans.com
By Bryan Burbank
Before filing for a bankruptcy it is important that you know what is involved. You need to understand what the impact will be on your family and your credit history once you decide to file for bankruptcy. The actual filing fees are not very expensive but you need to find a lawyer that has experience to help you fill out the proper forms. Once you file for bankruptcy it can stay on your credit report for up to 10 years and during this time it may be difficult for you to get a loan on a new car or at home. You may want to consider all factors involved in the side if a bankruptcy is your best option.
You need to decide whether filing a bankruptcy is the only option you have available to you. If you are in a situation where you have a lot of debt there can be other options available. It may make more sense for you to get a debt consolidation loan than having a bankruptcy on your credit report for 7 to 10 years. There are many places where you can consolidate all the debt you have and roll it into one easy to manage loan payment. Make sure you talk to an expert and find out all the positives and negatives there are two officially filing for bankruptcy.
Remember that your last option should be fine for bankruptcy when you are in debt. There are many options are available to you including getting a consolidation loan where you can have all of your debt into one easy to manage payment. Before filing you need to understand that a bankruptcy will stay on your credit for 7 to 10 years. During this period of time it may be difficult for you to get approved for a loan for a car or a house.
Know the: Bankruptcy Filing Process
How to: File Bankruptcy for Free
Bryan Burbank is an expert in the field of Bankruptcy and Getting out of Debt.
======================================
7 Ways to Avoid Your Car Being Repossessed
By Rehan Chaudry
If your car has been repossessed or you have been served with a default notice finding useful information can often be difficult. But could this whole situation have been avoided in the first place? Below are some top tips on avoiding car repossession:
1) SHOP AROUND - When you first go ahead with a purchase its important to check the market. There are many companies offering different rates and different terms. Shopping around can get you the best deal and ultimately save you money so payments can be more affordable during more difficult times.
2) DECIDE WHICH IS THE BEST TYPE OF LOAN FOR YOU - Secured loans, hire purchase car credit are all different types of loan. Check carefully which is most suited to you and your budget to avoid your car being repossessed.
3) DON'T BE PUSHED INTO ANY DEAL - When buying a car or getting a loan for a car you can easily be pushed towards the wrong option for you by commission hungry salesmen. Don't commit to anything until you have done your research. There is no harm in asking for a day or two to think about your final decision.
4) CALCULATE THE TOTAL AMOUNT TO BE REPAID - Although repayments may be low how much are you actually paying by the end of the agreement? Buyers often overlook how much they will end up paying and ultimately end up paying much much more.
5) CAN YOU AFFORD THE REPAYMENTS? - Are you buying over your budget? Is this really what you can afford. Sometimes the desire for having a nicer car than your budget can afford will bring problems when making repayments.
6) CHECK THE SMALL PRINT - When signing any agreement it is imperative to check the small print thoroughly and know your rights. Remember these contracts have been drawn up by cunning lawyers who are paid by the loan companies to make the deal seem more attractive and get the most out of you if you default on payments.
7) SPEAK TO THE LOAN COMPANY - If you are struggling with repayments, DO NOT HIDE. Often just speaking to the loan company can be the best way to avoid having your car repossessed. They may be able to adjust your repayment schedule or allow you time to come up with the funds.
If you found this article useful please feel free to find more information on car repossession or where to buy a repossessed car.
=======================================
How You Can Get Credit Cards After Bankruptcy
By Kate Ross
Bankruptcy need not be the end of your ability to borrow money or have credit extended on your behalf. Although it does take some time to rebuild your borrowing reputation and restore your credit to its once former glory - it can be done and one of the best ways to begin your rebuilding process is to obtain credit cards as soon as possible after bankruptcy discharge is complete.
Easy To Obtain
The easiest to obtain type of credit card that you can get once you have filed bankruptcy is the secured one. It works just the same as a normal card that you might get from any issuer - and it will usually bear the Visa or Mastercard logo. You can use it anywhere that accepts the card brand to make purchase at the point of sale or to withdraw cash from an automated teller machine (ATM).
In addition, you can also take cash advances upon it. The best feature is that it will report either monthly or quarterly to the three major credit reporting bureaus in the United States - Experian, Trans Union, and Equifax. Thus, by making timely payments on your account, you will be adding valuable points to your credit score all the while building your credit report up to make you appear to be more appealing to potential lenders.
Refundable Deposit
To obtain your secured credit card post bankruptcy, you will be asked by the issuer to place a deposit that is equal to the amount of credit that you wish to have extended to you. Your deposit will draw interest, in most cases, and will be returned to you at the end of a specified period of time - providing that you have made all payments as required; at the same time that your deposit is returned, your account would revert over to a normal account. The deposit will stand good in the instance that you should default from your original agreement - and will be used to cover any outstanding balance that you might have should you default. This would mean that you forfeit your deposit amount.
Managing Your Credit Card
You may elect to get more than one secured credit card. Having more than one will definitely add more points to your score with proper usage. Using it to your best advantage can take a bit of juggling numbers - but should be easy to learn after a couple of months. You should use no more than 50% of your available credit line, and you should always run a balance of 30% of the total amount of available credit each month.
For example, for a secured credit card with a $1,000 credit line, you should charge no more than $500 in one month, and pay off all that you have charged except for $300, during the billing cycle. This is the fastest method to add points to your credit score. Your wise usage can move you forward to better cards with reduced interest and higher credit limits.
Online Secured Credit Cards
The Internet has become the number one source for obtaining credit cards of all types. Secured credit cards are readily available through online card issuers who deal with bad credit and bankruptcy borrowers everyday. Find your best interest rates with an online lender today.
Kate Ross has a Master in Finance and has been a university teacher as well as a financial consultant for years. She specializes in Unsecured Loans and also in helping people to get approved for Guaranteed Loans for Bad Credit home loans, guaranteed loans, bad credit auto loans, guaranteed credit cards among many other financial products. For further information, please visit SpeedyBadCreditLoans.com
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