What is the automatic stay? The automatic stay protects a debtor who files for bankruptcy from further collections efforts by creditors. Once the creditor has received notification the debtor has filed bankruptcy, all collection activity must cease including pending foreclosure, repossession, or wage garnishment. When does an automatic stay take effect? The automatic stay takes … Read more
Do you worry about how bankruptcy affects retirement assets? Some assets are exempt from the terms of bankruptcy—they cannot be sold to satisfy creditors. Your retirement funds fall into this category and are safe from seizure by creditors and the bankruptcy court. How Does Bankruptcy Affect My Pension Benefits? In 2005 Congress overhauled the bankruptcy … Read more
With the economy in turmoil, many people still deal with consequences of credit card debt. This phenomenon began with the introduction of credit cards in the 1950s. Our parents and grandparents lived by the axiom, “If I can’t afford to buy it outright, I don’t need it.” The availability of credit cards changed our purchasing … Read more
Credit Yogi offers free help fixing your credit score. We provide a free 800 number available 24/7, free credit repair templates for Section 604 and 609, and consultations with experts. We have helped thousands of consumers since 1999, and our experts are available in more than 30,000 zip codes. You will also find an abundance … Read more
You may ask whether credit bureaus remove negatives from your credit report. Fact: credit bureaus will never remove accurate information from your credit report. You might try a strategy to persuade the reporting creditor to remove the information. The two most common are a goodwill letter or a “pay for delete” request. The Purpose of … Read more
Thousands of consumers are overloaded with debt. If you are one of them, loan consolidation could be worth researching. One of the easiest ways to relieve the stress of high payments is obtaining a personal loan to consolidate all the payments into one manageable monthly payment. However, you first want to take the time to … Read more
Has your car loan gotten out of control? Most people buying a car are initially able to make the payments. However, problems can occur later creating automobile debt. An unforeseen reduction in disposable income may put them behind on payments and leave them seeking consumer automobile debt help for a car loan they can no … Read more
Businesses often turn to bankruptcy protection to avoid going out of business. When a company files under chapter 11 to reorganize, it continues to conduct business. After bankruptcy it emerges on a more viable footing. Chapter 7 requires the company to liquidate assets to pay creditors. Through the bankruptcy process, the business eliminates debt and … Read more
Are you ready to recover your credit after bankruptcy? Your non priority debts are discharged—with a clean slate, it’s time to begin reestablishing your credit. Before you do anything else, educate yourself in personal finance. Learn how to read and understand your credit report. Begin to establish new spending, bill paying, and saving habits. As … Read more
All credit reports are broken down into several sections. These include personal information, employer history, personal statement, account information, public records, and credit inquiries. Consumers should educate themselves to be able to understand the information found in their credit report before attempting to obtain one. Before applying for credit of any kind, it helps to … Read more
