When you file for bankruptcy, you trigger an “automatic stay,” your protection against creditors and others who wish to collect money from you. However, the automatic stay is not all-powerful. Here is a look at what it can and cannot do for you Stops wage garnishment...
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The 341 meeting is an early stop in your bankruptcy journey
Soon after you file for Chapter 7 or Chapter 13 bankruptcy, you will attend the 341 meeting. You may feel a bit anxious, wondering what this is all about. Be assured that this meeting is a good first step on your journey to a better financial future. Naming the...
Are there any downsides to zero-interest credit cards?
If you are like many Marylanders who have decent credit scores, you undoubtedly receive stacks of credit card applications in the mail every single month. Many of these may offer you attractive interest rates, such as 0% APR for a year or 0% APR on balance transfers....
What are some alternatives to declaring bankruptcy?
When you feel the pinch of unmanageable debt, worry takes over. You might conclude your only choice is to go bankrupt. In reality, there are options besides filing for Chapter 7 or Chapter 13. Here are a few you can try instead of declaring bankruptcy. Negotiating...
How may a bankruptcy affect my future medical care?
Unpaid medical debts may result in overwhelming financial hardships. Many Americans file for bankruptcy to find relief from unmanageable medical bills or to avoid losing their homes. As noted by Credit Karma, some bankruptcy petitioners may wish to continue paying...
Divorce and bankruptcy: which should come first?
Going through divorce and bankruptcy separately is stressful even in the most amicable situations. Dealing with both at once exacerbates the strain on you personally and financially. Here is some information to help you decide which proceeding should take precedence....
How may a federal tax lien affect my property in bankruptcy?
When the IRS places a tax lien against your property, a bankruptcy may not remove or discharge it. As reported by Credit.com, tax debts have a 10-year statute of limitations from the date of assessment. The IRS may collect the amount that you owe until the SOL expires...
What are secured credit cards?
As part of filing bankruptcy, you must repair your financial health. Have you heard about secured credit cards and how they may help rebuild your credit? NerdWallet explains how secured credit cards work. Learn about all your options for forming a new relationship...
Tips to help secure a car loan after bankruptcy
Going through bankruptcy may make it harder for lenders to give you a loan, but it is far from impossible. Lenders are indeed on the lookout for red flags that signal somebody is a financial risk. Still, if you want to buy a new car after your bankruptcy, you may find...
Why is 30% so important to your credit score?
If you want to purchase a new home, car or any other expensive item, you have a couple of options: You can either pay cash or secure a loan. Still, most Americans do not have even three months of their salaries in savings. When you apply for a loan, the financial...
