Both debt consolidation and bankruptcy are legitimate options, but there are huge differences between them. You will need to look at your own situation as well as the goals you have in mind in order to determine which of these (or neither) would work the best for you. It helps however, to know exactly what [...]
Tag Archives: Bankruptcy
Credit Repair After Bankruptcy
Miss Bankrupt, I am expecting my discharge for Chapter 7 to be final in 2 or 3 weeks. Which step should I take 1st to start rebuilding credit? I was thinking about getting a credit card but would a car loan be better? I just don’t want to make mistakes here and want to rebuild [...]
What is a 341 Meeting in Bankruptcy?
If you are considering filing for bankruptcy, you’ve probably heard of the 341 Meeting or the First Meeting of Creditors. The anticipation and anxiety one could go through while waiting for this “meeting” is enough to drive a person crazy (if the stress of bankruptcy were not enough). I thought it would be helpful to [...]
Posted in Bankruptcy Also tagged 341 Meeting, Chapter 13, Chapter 7, First Meeting of Creditors, Trustee Leave a comment
Donald Trump, Bankruptcy, and Chapter 11
Here’s something strange. I actually mentioned Mr. Trump and his bankruptcies in April of last year, way before he became the voice of crazy and decided he’d like to be President of the United States. Anyway, whether you’re a supporter or not, my intention for this post was to try to figure out how Donald [...]
Means Test Calculator: How to Find Out if You Qualify for a Chapter 7 Bankruptcy
If you are considering filing bankruptcy, you may want to check out this Means Test Calculator that I found online. The Means Test is basically some kind of mathematical formula based upon your income and expenses that determines whether a person filing bankruptcy would be considered an “abuse to the bankruptcy system”. You just need [...]
The Most Forgiving Credit Cards for Bankruptcy Filers
There are credit cards that a bankruptcy filer will not own until the bankruptcy is erased from the credit report (which, by the way, could be up to 10 years). I won’t list them because a) it’s depressing and b) all bankruptcy filers and broke people know which ones hate us. We are also aware [...]
Posted in Bankruptcy, Credit Cards and Bills, Credit Repair, Credit Reports Also tagged Capital One, credit cards, Hooters, HSBC Leave a comment
What Should Be on My Credit Report After Bankruptcy?
One of the most common questions regarding post bankruptcy activities, seem to be related to how the bankruptcy is reported on the credit report. In this study in 2004, it was reported that 4 in 5 credit reports contain errors. Even though things have likely gotten better since then (hope hope) I still hear quite [...]
Posted in Bankruptcy, Credit Repair, Credit Reports, Uncategorized Also tagged charge offs, Credit Reports, disputes, late payments Leave a comment
Really Bad, Bad Credit – Credit Cards
I have noticed a number of suggestions for credit cards for people with bad credit and people that have filed bankruptcy and I wanted to mention that sometimes, some of those credit cards or cards are really bad. Some are such crappy deals, that I don’t think anyone’s credit is bad enough to have to [...]
Posted in Bankruptcy, Credit Cards and Bills, Credit Repair Also tagged bad credit credit cards, merchandise card, prepaid, secured 1 Comment