Can filing a bankruptcy improve your credit score?
Maybe. While much of the credit industry uses frightening talk of lower credit scores and inability to obtain credit or loans, the reality is that a loan of any type is always an economic transaction. To receive the loan, the lender must determine that you have sufficient income to make the necessary payments during the […]
Have you been sued on an old debt?
You may have accumulated some old credit card debts at one time and the credit card company may have attempted to collect. Maybe you were just out of school, trying to find work or were between jobs and you had little or no income. The company may have eventually given up its efforts and stopped […]
What’s in a name?
When you decide to buy something, you may decide to use a credit card or obtain a loan. But there is another option. It is known as “rent to own,” and it looks a lot like an installment loan or a revolving credit agreement. You make regular monthly payments for the item, and if you […]
Would debt consolidation really work?
Easy credit. We have all seen and heard the phrase. For most people, it is easy to obtain numerous credit cards. And each one comes with an incentive to spend. Some people can soon find themselves deep in debt and in deep trouble with those credit cards. It can be due to not keeping your […]
2 ways credit reporting errors can cause harm
Credit reporting companies are designed to provide businesses, landlords and others with information about potential consumers. They are supposed to be helpful, but in some cases they can cause a great deal of harm. Two issues that can result from an error in your credit report include resulting in higher prices and denials for victims. […]
The rock and hard place of payday loans
Payday loans, which often come at exorbitant interest rates, are no one’s idea of the best way in which to obtain a loan. They often appear to prey on the poor and the vulnerable. However, they exist because they fill a need, that of short-term low loan amount credit. This need exists for two reasons. […]
When for-profit schools close: what happens to student loans?
ITT Tech is the most recent example of the many for-profit schools that are closing for good. These educational institutions often leave their students hanging with incomplete degrees and substantial student loan debt. If you or your child has been affected by a for-profit school closing, you may be wondering what to do about your […]
What does a reaffirmation agreement do during a bankruptcy? Pt.2
Last time, we were discussing a reaffirmation agreement in a Chapter 7 bankruptcy. This agreement allows you to keep a vehicle by “reaffirming” the terms of the loan. To be eligible for this agreement, you typically need to be current on your payments and capable of making the remainder of the outstanding payments of the […]
What does a reaffirmation agreement do during a bankruptcy? Pt.1
One of the more complex aspects of your Chapter 7 bankruptcy is the matter of your vehicle and whether you should reaffirm that loan obligation. It is likely if you live in the Appleton region, you need a vehicle to get to and from work. The question is, do you need this particular vehicle? The […]
What if you need a new car during a bankruptcy?
Most people in Wisconsin need a vehicle in order to maintain a job. In a Chapter 13 bankruptcy, people will often have a vehicle that they are paying through their Chapter 13 plan. But because many Chapter 13s have a duration of five years, there are also many individuals who will have a car that […]
