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.(more…)
Think you'll be stranded with no way to get a loan if your car dies soon after your bankruptcy? If so, read this…(more…)
Why am I writing about this again? Because I still hear it so often it seems like the word just isn't getting out there. What's the reality of filing bankruptcy and your credit rating?(more…)
In the article Ten ways life is like jiu jitsu, #8 is Use leverage, not muscle. I might make that item #1 for what to do if you have financial problems. Most of us try to "muscle through" financial problems – working harder and longer, draining our retirement accounts, even to the point of destroying our health and relationships – before we realize it just isn't working and we need another plan, one with leverage.
Many people ask me about rebuilding credit after bankruptcy. Here's a short-version answer with links to longer articles.
I often hear some version of this incorrect idea, so let's take a quick look and see what the reality is about having credit after filing bankruptcy. (more…)
Last year I wrote a shorter update to a much longer article about "Will bankruptcy ruin my credit?" So what's new? A very recent client experience, that's what.
|Three years ago I wrote a rather lengthy article titled Will bankruptcy ruin my credit? I re-read it this morning, made a few minor changes, but found that not much has changed since then about that question. What prompted me to write this new (much shorter) article? (more…)|
Banks are sending offers for "professional" credit cards that do not qualify for the consumer protections provided by the "Card Act" of 2009. Those protections were intended for you but you won't get them with these credit cards. (more…)
This couple tried a mortgage loan modification. It didn't go through but ruined their credit in the process. (more…)
Because I'm a California bankruptcy lawyer, people often ask me if filing for bankruptcy will ruin their credit. You may already know that the fact of your bankruptcy may stay on your credit report for ten years, and isn't that really bad? Let's take a look at that question. (more…)
Malcolm Ruthven joined Margarita Guzman, Director of Legal Karma (legalkarma.com), in a presentation titled "Dealing with Creditors and Bankruptcy" on Monday, May 4, 2009, at Eastmont Branch Library in Oakland, California. Margarita presented the "Dealing with Creditors" part and Malcolm presented the Bankruptcy part. It was free and open to the public. For the flyer for the event, click here. You'll need to have Adobe Reader on your computer; to download Adobe Reader, click here.