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Is bankruptcy better when paying off bills due to a foreclosure?
Wiki User
∙ 9y ago
Bankruptcy should only be a last resort when someone is faced with debt and a foreclosure. Bankruptcy always reflects on someone's records, even when they stumble on new financial opportunities.
Wiki User
∙ 9y ago
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What is foreclosure during the great depression?
foreclosure is when a business is shut down because they are not selling their products or they are doing paying the bills.
Is it better to file bankruptsy or be late on bills?
It is less detrimental to your credit score to be late on paying your bills (more than 30 days late) than it is to file bankruptcy.
How do you reestablish your credit after a foreclosure?
Normally it takes 7 years for a foreclosure to expunge from your credit report. However it that meantime, paying bills early, paying more then minimum on credit card bills. Just managing your money in general. Slowly over time it will improve.
How can you claim bankruptcy to avoid paying bills?
In order to claim bankruptcy a court has to issue a bankruptcy order against you. The best place to find information about bankruptcy and the whole process of declaring bankruptcy is the official government website.
How does the bankruptcy power work?
Bankruptcy plays vital role in your life if you are facing financial problems or having unsecured loans like medical bills, repayment loans,wage garnishment. Filing bankruptcy gives you strong legal protection from your creditors. If some one is facing home foreclosure then filing chapter 13 bankruptcy helps a lot. It stops home foreclosure & bring automatic stay.
When is it necessary to declare bankruptcy?
It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.
What are some last resort steps to fight forbearance?
Paying your bills would help a person avoid forbearance. Forbearance would be better than avoiding creditors and eventually having to file for bankruptcy.
Is it better on your credit to refile after a Chapter 13 dismissal or pay your bills yourself with your creditors?
You are always going to be better off by paying your bills.
Is paying bills online better than going into the store?
It's easier and faster to pay bills online.
What bills does bankruptcy cover?
Bankruptcy cover credit card bills. Bankruptcy can also cover outstanding debts from doctors, utility bills, and bank loans, as well.
Can Attorney bills be included in Bankruptcy?
If you're using an attorney for the bankruptcy you have to pay him. Any other attorney bills can be claimed.
How hard is it to get credit after bankruptcy?
It is quite difficult to get credit after bankruptcy because after one declares bankruptcy one has to be significantly behind one ones bills to be able to do so. However after this one should be able to build their credit back up by paying things on time and not applying for loans.
