yes
Most states do not require you to take a credit counseling course before filing bankruptcy. This is typically a volunteer activity.
Filing for bankruptcy is a complicated process and one should consider hiring a lawyer to help with the filing process. You also need to undergo credit counseling and be aware of what type of bankruptcy to file.
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
Yes, you need to have some form of credit counseling approved by the U.S. Trustees program. You must also take a finacial management course before you file for bankruptcy. The best thing to do is hire an bankruptcy attorney to guide you through the process.
Chicago credit offers debt counseling and bankruptcy services. They employ a team of lawyers to assist in your bankruptcy claims, and also employ financial advisors to help you decide if filing for bankrupcy is the right choice for you.
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
In some cases, it actually does. This really depends on a lot of factors and variables, but I have seen credit scores increase 100+ points after filing a bankruptcy.
There are many ways one can lower their debt. Some options include negotiation with creditors, consolidation, balance transfers, credit counseling, and filing for bankruptcy.
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."
There are actually two classes you need to take. There is a credit counseling class that you must take within the 6 month period prior to filing for bankruptcy. You must also complete another financial management course within 45 afters after your Meeting of Creditors.
After filing bankruptcy, it is extremely important to be very careful to pay bills in full and on time. Missed payments or carrying credit card balances can negatively impact credit scores.