Credit cards can lead to serious debt issues. When you carry a balance, unless you have a promotion, you will have interest added on when you fail to pay the balance in full on the due date. Interest adds to what you owe, and it can add up quickly. Good credit use...
During the foreclosure process, you will receive multiple documents. It is important to pay attention to what you receive because these papers will provide you with a range of information about the foreclosure and where you are in the process. If you and your lender...
Chapter 7 bankruptcy involves liquidation. That is the sale of an individual's nonexempt property, where the court distributes proceeds among creditors. Here is more on this type of bankruptcy and how it compares to others. Alternatives There are many types of...
Even though a Chapter 13 filing will lead to a repayment plan with the goal of repaying your debts, you may still discharge some debts in the process. Once you complete the repayment plan, the court will remove any dischargeable debts. But it is important to...
The main idea of modifying a home loan is to usually save money. It can help to reduce monthly payments and even shorten the loan term in some situations. But when interest rates are high, you may wonder if a modification would be a good idea. There are a few...
After bankruptcy, most lenders will not give you a traditional credit card right away. You must rebuild your credit and prove to lenders that they can trust you as a borrower. Secured credit cards can help you build your credit again. Like traditional credit cards,...
During the foreclosure process, you will receive various documents that allow you to know what is happening. The first document you will get is a Notice of Intent to Foreclose. This notice is your warning that the lender is going to file a foreclosure. It is essential...
Applying for credit can help you make major purchases, such as a new car or a home, but is sometimes a daunting task, especially when your credit score is not as high as you would like. According to CNBC, securing credit and loans are now more difficult to secure for...
When personal debts become too much to handle, one of the most common solutions for reprieve is to file for Chapter 7 bankruptcy. Doing so gives you time to liquidate assets and repay your creditors, but it can also have a negative impact on your interest rates going...
Millions of Americans find themselves mired in credit card debt that can severely impact their credit scores and the opportunity to secure the ability to make major purchases, such as a vehicle or a home, in the future. The credit reporting company Experian notes that...
