The decision to file for bankruptcy should not be taken lightly. Though this process gives you the opportunity to regain control over your finances and end the harassment from creditors looking to fulfill debts, it also has lasting implications for your finances. Use these frequently asked questions to inform you and help you decide how to move forward.
After you are discharged from Bankruptcy and have saved a sufficient down payment, many mortgage companies will deal
The automatic stay takes effect immediately upon filing the bankruptcy. Creditors are stopped from making collection efforts, garnishments stop, and lawsuits are put on hold by the bankruptcy and usually can be discharged upon successful completion of the Plan.
Most people believe that their credit report and their ability to get credit are one and the same. This is not true. Your credit report is the summary of your bill payment history. Your credit is your actual ability to borrow or buy on account.
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