Someone asked that recently, saying that's the kind they wanted. Sorry,
but there isn't a bankruptcy like that. If you don't make the payments
on your house or car, bankruptcy or not, you'll lose that house or car.
Bankruptcy improve your credit score? Are you kidding me? Not at all. Let's take
a look at some reasons that filing bankruptcy might improve your credit score.
I hear that often, and my response is always "You must list all of
your assets and all of your debts". But then I proceed to explain
that it's very likely that they can keep their car. Let's see
how and why.
A credit card company sued me, got a judgment against me, and put a lien
on my house. I can't sell the house without paying the lien amount before
I get any money. Can bankruptcy help? (more…)
Why not take a nice vacation on your credit cards right before filing bankruptcy? After all, those debts will go away so why not use up that unused credit and have some fun?
Do you need to eliminate crushing debt, stop lawsuits, or stop a foreclosure? Our Congress provided bankruptcy as a financial tool for those purposes. Wouldn't
it be wise to see if it could work for you?
According to a 2015 Federal Reserve Bank of New York report, people who
file bankruptcy fare much better than those who avoid doing that. Lets
look at some of the ways this happens.
If you ignore papers notifying you that a lawsuit has been filed against
you, things could go very wrong. If that happens, filing bankruptcy might
fix it for you.
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