Author Archives: Svilen

Credit After Bankruptcy – How And Where To Get A Loan With Bankruptcy On Your Credit Report

Posted on February 21, 2012 by Svilen

Bankruptcy remains on your credit report for a period of up to 10 years; and with this blot on your credit report no one would be very willing to lend to you. But that doesn’t mean that you cannot get any loan after bankruptcy. You can still get loans but the interest rates and terms of loans would not be very attractive for you. Continue reading →

How Using Price Comparison Sites Can Help You Break Out Of Debt

Posted on February 2, 2012 by Svilen

The first thing that most individuals and families have to do in order to break out of debt is to somehow find a way to cut back on expenses. The easiest way to do this is to find the lowest price on things that you would think are untouchable, such as car insurance, property insurance and many other bills that companies would prefer you not negotiate. Continue reading →

5 Ways Income Protection Insurance Can Save You From Bankruptcy

Posted on January 9, 2012 by Svilen

Besides enabling you to keep food on the table while you are unable to work, income protection insurance can also enable you to keep paying your debts and therefore avoid any bankruptcy action being taken against you. Continue reading →

Buying A Home After Bankruptcy | How To Buy A House With Bankruptcy On Your Credit Report

Posted on January 4, 2012 by Svilen

Buying a home after bankruptcy isn’t as difficult as you thought. However, buying a home should not be at the top of your list really. It is very obvious that you have to first ensure that you have a regular source of income which will allow you to meet your basic needs and also provide some savings for building an emergency fund. Continue reading →

Ballooning Consumer Debt Cripples Economic Recovery – Any Hope For The Debtors?

Posted on December 16, 2011 by Svilen

As we come to the far end of 2011, the economists give a retrospective glance at the economy to check where we stand. Though individual bankruptcies are falling, yet that doesn’t speak much about the improving financial behavior of the US consumer, who is still being supported by the record federal stimulus. Continue reading →

Credit Repair Letters – 6 Things You Must Remember

Posted on November 24, 2011 by Svilen

While writing credit repair letters (or credit repair dispute letters) you must ensure that you follow the guidelines mentioned here. Continue reading →

Mortgage After Bankruptcy – How To Get A Mortgage Loan After Filing For Bankruptcy

Posted on November 2, 2011 by Svilen

Getting a mortgage after bankruptcy is not an impossible task. You can get a mortgage with bankruptcy still on your credit report. However, the terms of your mortgage in bankruptcy scenarios would be really harsh… and you should expect them to be harsh since you have lost your credit worthiness to bankruptcy. Continue reading →

Getting Credit Cards After Bankruptcy

Posted on October 19, 2011 by Svilen

Getting unsecured credit cards after bankruptcy can be ruled out for a long period of time. So, your best bet would be to get secured credit cards. The secured credit cards would not only be the best credit cards after bankruptcy but also the only feasible option for getting a credit card after bankruptcy. Continue reading →

Business Bankruptcy – What You Should Know Before Filing For Business Bankruptcy

Posted on October 11, 2011 by Svilen

Filing business bankruptcy can be an emotionally difficult process for any business owner. However, sometimes things can go wrong for a business either due to wrong decisions or due to external/unforeseen conditions; and in such a situation, filing for business bankruptcy might become the best option. Continue reading →

Bankruptcy Means Test – What Is It And How Is It Conducted Across The Various Chapters

Posted on September 28, 2011 by Svilen

A bankruptcy means test, simply put, is a test (or shall we say, a calculation) that is done in order to determine whether the debtor (on whom means test for bankruptcy is being done) has the means to repay his debts and to what extent. Continue reading →

Personal Bankruptcy – What You Should Know Before Filing For Personal Bankruptcy

Posted on June 24, 2011 by Svilen

Jurisdictions allow individuals to declare their bankruptcy through a procedure called personal bankruptcy. That simply means that you cannot afford to pay your debts any longer and requires removal of any such obligation by giving up control of your financial assets. You can either do it through a debtors’ petition (doing it yourself) or through a creditors’ petition (someone who you owe money can do so). Continue reading →

Credit Counseling For Bankruptcy – Here’s What You Need To Know

Posted on June 7, 2011 by Svilen

Credit counseling for bankruptcy is required by those who intend to take filing of bankruptcy as a way forward for their financial problems. All people who plan to file for bankruptcy protection are required to get a credit counseling session from an approved organization within 180 days of filing. Continue reading →

Types Of Bankruptcy – A Quick Glance Into The Six Important Bankruptcy Chapters

Posted on June 3, 2011 by Svilen

While personal bankruptcy can be filed through Chapter 7 or Chapter 13, there are other types of bankruptcies that apply to different situations. While Chapter 7 and Chapter 13 seek to provide repayment solution either by liquidating the financial assets or repayment schedule respectively, the other chapters pertain to businesses, fishermen or farmers, foreign investors etc. Continue reading →

Bankruptcy Requirements For Common Types Of Bankruptcy

Posted on May 26, 2011 by Svilen

In 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act was passed that changed bankruptcy filing requirements. This means that there may be certain changes that need to be checked before you decide to file for bankruptcy. Being informed and prepared with the new bankruptcy requirements will make your filing process hassle free. Continue reading →

Should I Consolidate My Debt With My Home Equity

Posted on May 18, 2011 by Svilen

Consolidating debt is done through multiple methods: home equity loans, home equity lines of credit and cash-out refinancing. Cash-out refinancing has become popular; here are its risks and benefits. Continue reading →

What Is Bankruptcy? How Does Bankruptcy Work? Pros And Cons Of Filing Bankruptcy

Posted on May 9, 2011 by Svilen

Bankruptcy is a legal state wherein a person or an organization cannot any longer repay their debts to the creditors. This is either filed by the person himself (voluntary bankruptcy filing) or the creditors file it to recover the pending money. Continue reading →

What Is My Credit Score? How To Get My Credit Score And Check My Financial Health?

Posted on April 15, 2011 by Svilen

It’s relatively easy to get your credit scores and check your financial health. There are different sources that provide the credit score and these can be obtained through email, over the telephone or posted through US mail. However, unlike credit reports, you do not get credit scores for free (except when you have applied for credit and the lender provides you the score that they have in turn obtained). Continue reading →

What Is A Bad Credit Score?

Posted on April 2, 2011 by Svilen

If your credit score is anything below 620, it is considered bad enough and you will find it tough to get credit approvals from lenders. And the terms at which you get credit will be worse than what you would get with a good credit score… this means higher interest rate, lower loan amount sanctioned, other payment terms, collateral requirements etc. Continue reading →

What Is A Good Credit Score?

Posted on March 28, 2011 by Svilen

A good credit score range is 700 to 850. With such scores, you can be sure of getting not just quick approvals for your loans but also better terms. So, maintaining a good credit score can provide a lot of advantages to you. Continue reading →

Credit Card Balance Transfer – Should You Or Should You Not?

Posted on March 25, 2011 by Svilen

Most people would have encountered very lucrative balance transfer offers (e.g. 0% balance transfers etc.) from various credit card providers. And such offers often leave you wondering whether it would be a good idea to go grab one of these offers or not. So, let’s have a quick look at aspects surrounding credit card balance transfer. Continue reading →

What Is A Credit Score? Credit Score Ratings & Ranges Explanation

Posted on March 21, 2011 by Svilen

Credit score is a statistical analysis of a person’s ability to pay his outstanding bills on time. Credit score determines your creditworthiness and thereby affects your chances of getting approvals for loans, credit cards, credit limit on a credit card, mortgages, rent, high or low interest rate on a loan etc. Continue reading →

Credit Repair After Bankruptcy – How To Rebuild My Credit Effectively

Posted on February 25, 2011 by Svilen

Repairing credit after bankruptcy is really a tough job unless you know the tips on how to repair credit after bankruptcy. So, let’s have a quick look at some of the important tips that can help you with credit repair after bankruptcy. Continue reading →

Bankruptcy And Credit Score – How To Improve My Credit Score After Filing For Bankruptcy

Posted on February 21, 2011 by Svilen

All of us know that bankruptcy can rip apart our credit score… and make us think that there is no way we can improve our credit score after bankruptcy. While, the negative effect of bankruptcy on credit score is a well-known fact, it is possible to start improving your scores quite quickly. Continue reading →

Bad Credit Repair – How To Fix My Bad Credit Effectively

Posted on February 18, 2011 by Svilen

If you have been struggling with bad credit and looking for ways to repairing bad credit, the following tips on bad credit repair would help you. Continue reading →

Credit Repair – How To Fix Your Credit And Improve Credit Score

Posted on February 14, 2011 by Svilen

If you are not being offered good rates and terms on the loans, you must starting thinking about credit repairing i.e. improving your credit score. This (your credit score) is what all lenders check before offering you loans or any line of credit (including credit cards). Continue reading →