Your credit report after a bankruptcy will look like a bomb was dropped on it. Your credit score report will be littered with all kinds of derogatory information. Depending on what type of bankruptcy you filed will determine how long it will take to re-establish your credit. The two most common bankruptcies are Chapter 7 and Chapter 13. With the new bankruptcy law, more people will be forced to file Chapter 13. Here are the differences.Chapter 7 bankruptcy- is considered liquidation of your non-exempt assets. This bankruptcy is considered the quickest and simplest of all bankruptcies. A court appointed trustee sells off all your assets in an attempt to pay back some of your creditors. During most Chapter 7 bankruptcies the client will not have any assets to liquidate.Chapter 13 - This bankruptcy is considered a wage earner plan. This plan allows individuals whom have income to develop a plan to pay back there creditors over a 3 to 5 year period. Under this bankruptcy you are assigned a court appointed trustee that you make the agreed upon payments to, which they in return pay your creditors.Bankruptcy is all too common these days with the economy the way it is. […]
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The American dream is to own a home someday. We all have this passion deep down in side. Most Americans don’t have the money to pay cash, so they turn to lender to assist with the purchase of there first or second home. With all the new guidelines in banking I will give you exactly what you need to do to secure a mortgage. I know everyone’s situation is different, but there are some steps you can take so you will not have problems in today’s lending market. This will also help you regardless of what the lending market is doing.Know what’s on your credit reportMost people have not idea what is on thier credit report. They also have not idea what their credit scores are. This is amazing to me, since the way to financial freedom is to manage your credit health. Otherwise you are probably paying too much in the way of terms and rates. Get a copy of your credit report with credit scores regularly to mange your scores.Pay all your bills on-timeIf you think paying a bill late every once in a while is ok, you might want to rethink that logic. A single late payment […]
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Identity theft has become a serious problem within the last ten years. These insidious thieves cost Britons millions of pounds every year with their selfish and inconsiderate crimes. Identity theft takes you by surprise and by the time you discover that you’re in big trouble, it’s already too late and your good name is smeared.
Here are ten ways simple ways for you to protect yourself against identity theft:
1. Invest in a shredder at home and shred all your sensitive garbage like bills, credit card ads and old documents. Identity thieves go through trash cans looking for these items and then they have you. Aside from burning them, shredding them is the only option. For the workplace, using a confidential data destruction service is a very useful option - confidential paperwork builds up very quickly in the office and it should under no circumstances be left lying around for anyone to read.
2. Limit online shopping to secure sites only. Check the bottom of the page for a picture of a padlock or the letters “https”. This assures you that your transaction is safe from hackers.
3. Avoid all email requests for personal information. This is called “phishing” and is very common through […]
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