New furniture is a big-ticket item that can cost hundreds or thousands of dollars, depending on how much you buy and the brands and styles you select. It is out of reach for many consumers unless they can finance the purchase. This is no problem for people with a good credit score, but it can be difficult if you have a bankruptcy in your recent past.
In a Chapter 7 bankruptcy, the trustee assigned to your case will sell all of your assets above certain state-exempted levels to pay creditors. If all of your assets are exempt, your case is known as a "no asset" case, and none...
If all of your assets are state-exempted, you have what is known as a "no-asset" case, in which none of your assets are sold. In both cases, most of your existing debts are discharged. After a Chapter 7 case is discharged, your...
You are usually able to keep your home and car, and you will be released from many financial obligations. There is also a downside, however, as bankruptcy pulls down your credit scores and makes lenders see you as a bad risk. Y...
A bankruptcy remains on a credit report for 7 or 10 years, depending on the type of bankruptcy. Fortunately, there are steps you can take to begin repairing your credit. Ironically, bankruptcy actually affords you the opportuni...
Your financial circumstances were so bleak that you finally resorted to filing for bankruptcy. Will you ever be able to carry out a normal life? All you want are the simple things--a car and a house would be nice--but you might...
Life after bankruptcy is not necessarily a life with property that only can be bought with cash. Consumer affairs experts report that bankrupt people, particularly those who filed for Chapter 13 rather than Chapter 7 bankruptc...
Getting credit after bankruptcy may seem impossible, but most people can start rebuilding their credit right after filing. While you may not qualify for the most favorable interest rates or fees, you can still start, step-by-st...
Bankruptcy is always viewed as a last resort option because of the damage it does to a credit report. It is not impossible to fix your credit after bankruptcy. It can be done, but it will take some work and a few years to rebui...
One of the most serious and financially damaging decisions you can make is to declare bankruptcy. While doing so sometimes improves your credit score in the short term, it sets you up for long-term struggles because the bankrup...
Declaring bankruptcy does not necessarily mean that your credit score is ruined forever. Your credit score is a number between 300 and 800 assigned to you by credit reporting agencies as a way to determine your loan eligibility...
Bankruptcies will also lighten your debt and either liquidate your assets or set you up with a payment plan, but you won't benefit once you pay off your debts. If you have incredibly low credit due to your debts, you might actu...
Bankruptcies remain on your credit report for up to 10 years and will kill your credit score, but you can take steps to rebuild your credit after a bankruptcy and recover from your financial situation.
While it's true the record of the bankruptcy can stay on your credit report for up to ten years, there are steps you can take to start rebuilding your credit and get your score up after bankruptcy.
A bankruptcy can leave a very large black mark on someone's credit report and FICO score. According to Experian, a bankruptcy can remain on a credit report for seven to 10 years. This can make obtaining credit or refinancing a ...
Bankruptcy may be inevitable if you get too deeply in debt and have no way to pay it all back. While bankruptcy will get your bills under control, it will also have a negative effect on your credit score. Depending on the terms...
