Bankruptcy Blog

Will Filing for Bankruptcy Permanently Ruin My Credit?

October 20, 2015

  No, this is a common misconception about bankruptcy. The fact is that, although bankruptcy can have some impacts on people’s credit, these impacts are not permanent. The Credit Impacts of Bankruptcy In general, a bankruptcy case will stay on someone’s credit report for 7 to 10 years following the successful completion of the case….
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5 Essential Tips for Paying Down Credit Card Debt

October 10, 2015

Credit card debt is one of the most common types of debt people carry. And the average person with this type of debt is carrying between $10,000 and $15,000 on their credit cards from month to month. If you are among those who are struggling with credit card debt and you are ready to make…
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5 Rights You Have under the Fair Debt Collection Practices Act (FDCPA)

September 30, 2015

The Fair Debt Collection Practices Act1 is a federal law first established in 1977 to protect consumers from abusive debt collection practices. The intent is to prevent debt collectors from harassing borrowers and, instead, to promote fair practices for the collection of debts. Given that this law is complicated and that it has been updated…
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4 Questions to Ask Yourself When Considering Debt Consolidation

September 20, 2015

When facing overwhelming debt, one option for relief can be a debt consolidation loan, which essentially combines a number of debt payments into a single loan payment, usually with a home (or other substantial property) being used as collateral. While there can be various pros and cons to debt consolidation, depending on people’s situation, asking…
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FAQs about Colorado Bankruptcy Exemptions

September 10, 2015

Bankruptcy exemptions allow people who are filing for bankruptcy (i.e., bankruptcy petitioners) protect and keep some of their personal property through their case. While some states allow petitioners to choose between whether they want to use federal or state bankruptcy exemptions, in Colorado, petitioners are required to use the state exemptions. Given the fact that…
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5 Bankruptcy Mistakes to Avoid: What Can Hurt You in Bankruptcy

August 31, 2015

Bankruptcy is a viable debt relief solution that can give people a much-needed financial fresh start. When certain mistakes are made before or during bankruptcy, however, the benefits of bankruptcy can be lost, as people may sabotage their cases and be unable to obtain debt relief from the process. Below, we’ll point out some of…
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4 Signs of Debt Settlement Scams: What You Need to Know

August 20, 2015

When people are overwhelmed with debt, one option for debt relief can be debt settlement. Typically, with debt settlement, companies offer “programs” through which consumers may be able to reduce their overall debt obligations. These programs generally involve consumers depositing money into a designated account for a certain period of time while the company attempts…
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4 Facts to Know about Credit Counseling for Bankruptcy

August 10, 2015

As people prepare to file for bankruptcy, one of the things they will need to do before filing the petition with the court will be to complete the credit counseling course. Below, we’ll point out some of the most important facts to know about the credit counseling requirement for bankruptcy. Important Info about Credit Counseling…
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4 Steps to Take before Filing for Bankruptcy

July 20, 2015

When you have made the decision that filing for bankruptcy is the best way to resolve your debt issues, there are some things that will be important to do before you officially file your bankruptcy petition with the court. If you fail to take these steps before bankruptcy, you could complicate your case, setting yourself…
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12 Things Debt Collectors Can’t Do When Collecting Debts

July 10, 2015

When people miss payments on their debts, debt collectors will usually start contacting them. How this contact happens – what debt collectors are not allowed to do during it – is governed by the Fair Debt Collection Practices Act (FDCPA). Below, we’ll point out some of the things that the FDCPA specifically prohibits debt collectors…
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