Some people worry that they won't have access to credit after a bankruptcy. Bankruptcy has a direct and provable negative effect on your credit, in part, as a way to deter people from filing unnecessarily. However, it is often less damaging to your credit than...
Despite the many benefits of filing for bankruptcy, such as the ability to discharge or reorganize debt, there are potential disadvantages to be aware of as you consider your next step. For example, you need to fully understand what will happen to your credit rating...
At a certain point, if you get behind on your debts, the financial institution you owe will sell your debt to a debt collector. These debt collectors buy your debt at a bargain price in the hope that they will succeed at collecting more money than they paid for it. If...
As you ponder the pros and cons of bankruptcy, you may find yourself facing many questions. One of the most common is in regard to what will happen to your credit rating if you move forward with the bankruptcy process. In other words, you have some concerns about your...
