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Of course, it's up to you to decide, but I think that it's much better to apply for debt settlement provided by debt consolidation companies rather than file babcruptcy. The most important reason for this, as for me, is the possibility of saving your credit report undamaged. Well, sure if you file bancruptcy you will get rid of your debts at once, but your credit history will be absolutely ruined and it will be very difficult for you to restore it, therefore, you won't have the opportunity of taking loans you may need in case of emergency. Creditors will lose their money if you choose bancruptcy, hence, they won't be pleased at all and your personal data will be placed to the so-called blacklist. If you will try to consolidate your debts your credit score will be remained in the same state or it can even be improved as with the help of debt consolidation your debts will be repaid at once by debt consolidators.
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∙ 13y ago
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If I file for bankruptcy can I still refinance my mortgage?
You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.
Is debt consolidation better than bankruptcy?
Yes - consolidating debt into a repayment plan or option shows you are taking positive steps to address debt and pay it off - although your credit score may be low it should improve as you tackle the outstanding loan sum. However a bankruptcy indicates you have no funds to pay off your loans - as a result it will be marked on your credit file and you will have difficulty in obtaining credit from lenders until quite some time has passed.
If your wife included a joint car loan in her bankruptcy but you did not file bankruptcy are you still liable for that loan?
You will be responsible for the whole debt since you are the only one capable of paying the debt after your wife's bankruptcy.
How much debt can you have before filing for bankruptcy?
There's no maximum amount. If you can't make your payments you file bankruptcy.
Can a debt collector continue to call after you file bankruptcy?
No, not as long as they were included in the bankruptcy. You should give their information to your bankruptcy attorney, who will contact the debt collector. If that doesn't work, your attorney will certainly know what to do next.
What happens to debt consolidation when you file bankruptcy?
According to me bankruptcy is not the solution to get out of debt. You can choose one of the two either debt consolidation or bankruptcy. Consolidating your debt today reduces your monthly payment and saves thousands in interest. Its better to consolidate your debt as many different types of debt consolidation services are available. They offer debt consolidation loan online to reduce your debt and also student debt consolidation services, debt settlement program, student debt consolidation, debt relief and more.
Is better not to pay your credit cards or file for bankaruptcy?
{| |- | Bankruptcy is not an advisable option as it damages your credit for a long period of time, instead you can go for other debt relief options like debt consolidation or debt settlement. I consolidated my credit card debt with the help of Freedom Debt Relief, their debt reduction program helped me reduce my debt levels. |}
Can you file bankruptcy on a truck repo past due loan?
No, if you mean, can you single out this debt to "file bankruptcy on." You file bankruptcy on ALL your creditors. You don't get to pick and choose. But you can certainly include such a debt in bankruptcy.
Can you file bankruptcy for lawyer fees?
You cannot file a bankruptcy directed at one single debt.
If I file for bankruptcy can I still refinance my mortgage?
You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.
If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?
You have to, it is a debt...it is just a secured debt...by the lien on the property.
Is the debt from a personal lawsuit removed when you file for bankruptcy?
no
Can you file for bankruptcy on a three thousand dollar debt?
no
What are some ways to avoid having to file for bankruptcy?
One way is debt consolidation programs, where you combine all of your debt into one monthly payment, often with lower interest rates. Another is debt settlement, where you work with creditors to agree on a reasonable amount that you can pay.
Is debt consolidation better than bankruptcy?
Yes - consolidating debt into a repayment plan or option shows you are taking positive steps to address debt and pay it off - although your credit score may be low it should improve as you tackle the outstanding loan sum. However a bankruptcy indicates you have no funds to pay off your loans - as a result it will be marked on your credit file and you will have difficulty in obtaining credit from lenders until quite some time has passed.
How do you stop wage garnishment for credit card debt?
file bankruptcy
Which is better to file bankruptcy or voluntary repossession?
file bankruptcy that bay you wont loose your stuff
