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Chapter 7: In a Chapter 7 bankruptcy filing, some of your assets are sold to pay back debt, meaning you could lose your home and personal property. A few months after filing, your remaining debt ...
You want to show lenders that you can pay back debts such as your mortgage and that you can maintain a reliable, steady stream of income through a job. In addition, many lenders consider your ...
Here are some of the actions to take if you think you may be late or unable to make payments: Reach out to your bankruptcy trustee and request more time to catch up. Notify your attorney if you ...
Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ineligible for ...
A Chapter 13 bankruptcy typically stays on your credit reports for seven years from the date you filed the petition. It can lower your credit score by around 130 to 200 points, but the effects on ...
Those who file for bankruptcy but still owe any debts mentioned above have options available for their situations. Repayment Plans It is possible an individual can work with a creditor to create a ...
A DMP is a three-to-five-year plan designed to help you exit debt sooner. You will make a monthly payment to the agency, which will pay your creditors. The agency may be able to negotiate lower ...
Student debt: You may also use the five years provided under Chapter 13 to pay back items such as student debt or alimony arrears that weren’t discharged in your Chapter 7 case.