Many bankruptcy filers are wondering whether they are entitled to keep one or several credit cards for emergencies backup. In general, you may not because your credit cards will be cancelled regardless, since you file the bankruptcy. The credit card issuers tend to punish their card holders for filling any kind of bankruptcy; in most cases, the credit cards of…
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The New Bankruptcy Law Information You Need To Know Before You File
The new bankruptcy law is in effect, and the climate has drastically changed for people who are considering bankruptcy. In this article we will touch on some of the details of the new law, and explain exactly how these new changes will affect you. First, let’s touch on the new counseling requirements. According to the new law, you must complete…
A Guide To Chapter 7 Bankruptcy
Bankruptcy is a legally declared inability of individuals or businesses to discharge their debts. A declared state of bankruptcy can be requested not only by creditors in an effort to get what they are owed but also by the insolvent individual or organization. If it is difficult to repay debts, declaring the bankruptcy may be the right solution to debt…
Refinance After Bankruptcy How Does Your Bankruptcy Affect Home Mortgage Refinancing
There are a few basic concepts one should know when looking into refinancing a mortgage after a bankruptcy. Most importantly, you need to know the two different types of personal bankruptcy that you can declare. Chapter 7 Bankruptcy, often called “straight bankruptcy”, is an attempt for someone financially overextended to liquidate most of their assets to satisfy creditors, keeping only…