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You can try, and there are a lot of scam artists that claim to guarantee you will. The truth is, most credit card companies will not agree to take less, and those that do may lull you into thinking you're safe, especially if you use a debt consolidation "service." In a bankruptcy, every creditor gets treated the same, the law prevents one from suing you and taking all your money, and you get a discharge. In a debt settlement, any creditor can still sue you, attach your assets or income and blow your scheme out of the water - and you may still have to file bankruptcy, especially since interest and penalties keep accruing.
What else can I help you with?
Is a credit line on your house included in bankruptcy?
That is up to the person filing the bankruptcy. You can include or omit any debt that you choose.
Can a person who filed bankruptcy 10 years ago co-sign for you?
That decision is up to the creditor who is considering grantin you credit. It really depends on what they have with their credit since filing for bankruptcy.
In a Chapter 7 bankruptcy a person filing for relief is called a?
In a Chapter 7 bankruptcy, a person filing for relief is called a
Does filing bankruptcy improve a credit score if there were a lot of charged off credit cards and late payments prior to filing?
No, just the opposite. Bankruptcy is the ultimate "train wreck" of a person's financial standing. Even after the ten year SOL there will be a public record, and the consumer will still be penalized for it. Bankruptcy, is not, as some are led to believe, the magic cure for debt problems.
If your ex files bankruptcy on a joint credit card they were court ordered to pay is there anything you can do to protect your credit?
No. Creditors do not care about divorce settlements concerning joint debts. The person not filing the bankruptcy will be held responsible for repaying any joint debt that was incurred during the marriage. The only protection for the ex-spouse is filing his/her own bankruptcy if they cannot pay the debt.
Are you a bankruptcy?
Bankruptcy is when a person or a firm thinks that they are in financial crisis, they go out for filing bankruptcy in related court.
What is the English meaning of the word bancarrota?
Bancarrota is a Spanish word, but translated into English means Bankruptcy. Bankruptcy is when someone does not have enough money to payback any of their debts. Filing for Bankruptcy can have very negative effects a person's credit rating.
What part of ones credit matters when filing bankruptcy?
The average annual income rate of the person's business or household income determines a portion of bankruptcy reports. The other portions determine the person's tax rates, mortgage, and average spendings.
Can a person work legally if he file bankruptcy?
Yes. Filing bankruptcy does not affect your work status generally speaking.
Does income count AFTER you file chapter 7?
A person's income does not count after filing chapter 7 bankruptcy. All that counts is what you had before filing bankruptcy.
Do you need to include all credit cards when filing a chapter 7 bankruptcy?
Yes, all debts and assets must be included in the bankruptcy filing. If a mistake is made and some debts and/or assets are not reported, the filer should contact the BK attorney or the trustee immediately. Deliberately ommitting information on a bankruptcy filing are grounds for dismissal. In addition when information especially assets is deliberately withheld the person(s) can be charged with bankruptcy fraud which is a federal crime and if convicted can be fined and/or imprisoned.
According to bankruptcy laws, how long must one wait after filing bankruptcy before they can buy on credit again?
Bankruptcy laws do not prohibit a person from opening another credit account. However, it may be difficult to find a bank willing to extend credit to someone who has filed bankruptcy. In addition, consumers should be careful not to repeat past mistakes. Once bankruptcy has been filed, it is a good idea to operate on a cash basis to re-learn the essentials of personal finance.
