August 03, 2012 (Press-News.org) Get the Red Out: Rebuilding Credit After Bankruptcy
Some people hesitate to seek out the fresh financial start that bankruptcy can offer because they fear they will never undo the damage that bankruptcywill do to their credit scores. However, what many do not realize is that continuing to struggle financially and missing payments on bills may ultimately be more damaging to credit than bankruptcy. People can take steps to rebuild their credit after filing bankruptcy and come out in a better financial position than before filing.
Credit Check
One of the most important steps a person can take to begin the road to financial recovery is to request his or her own credit reports to ensure the accuracy of the reports. All of the debts discharged in bankruptcy should be at a zero balance so they are no longer affecting a person's credit score. If the report is inaccurate, the person should contact the reporting agency to amend the reports.
Existing Obligations
One of the best ways to rebuild credit is to make regular timely payments on accounts. By paying existing obligations such as rent and utilities on time and in full, people can build positive credit history. Not all debts are eliminated in bankruptcy, so making payments on a repayment plan for such things as back taxes, unpaid child support and student loans will also help improve credit.
Secured Credit Cards
People may also want to consider secured credit cards as a way to rebuild credit. With a secured credit card, the holder deposits a sum of money equal to the card's limit with the issuing bank as collateral in case the holder fails to make payments. A person then can use the card like any other credit card. Using these cards and paying the balance off each month will build positive credit history.
People should check to see if the issuing banks report payments on secured credit cards to credit reporting agencies before obtaining such cards.
Talk to a Lawyer
Making the decision to file bankruptcy can be difficult. People are often unsure the impact such a step will have on their lives. If you are struggling financially and are wondering if bankruptcy is a good option for you, meet with a qualified bankruptcy attorney who can discuss your situation with you and offer you guidance.
Article provided by Ryan Law Offices
Visit us at http://www.ryan-lawoffices.com/
Get the Red Out: Rebuilding Credit After Bankruptcy
People can take steps to rebuild their credit after filing bankruptcy and come out in a better financial position than before filing.
2012-08-03
ELSE PRESS RELEASES FROM THIS DATE:
Backlog in Illinois Foreclosures
2012-08-03
Backlog in Illinois Foreclosures
Amidst the 2010 and 2011 allegations of improprieties in foreclosures affecting thousands of homeowners, the nation's five largest mortgage lenders put a temporary moratorium on foreclosure activity while they investigated their foreclosureprocesses. Once the lenders had reached a settlement in the "robo-signing" controversy with the federal and state governments in February 2012, they were free to resume foreclosures. Foreclosure activity built slowly in Illinois because state law requires foreclosures to be processed through ...
Bank Settlement Brings a Spike in Foreclosure Activity
2012-08-03
Bank Settlement Brings a Spike in Foreclosure Activity
Foreclosure rates plummeted in 2011 due to widespread allegations that the nation's biggest mortgage lenders had committed improprieties in the foreclosure process by failing to verify the documentation in thousands of foreclosures across the country. Prompted by the so-called "robo-signing" scandal, several major mortgage lenders suspended their foreclosure activities during the investigation and ensuing settlement negotiations with state and federal government officials.
In February 2012, five major ...
Divorce Can Impact Finances
2012-08-03
Divorce Can Impact Finances
Most people are aware of how divorce can affect a person emotionally and socially. Few people consider the changes that divorce can bring to a person's financial situation, however. People considering divorceshould be aware of the ways that divorce may impact them financially.
Two Households
When married people split, they create two households where there was previously only one. As such, they necessarily double their living expenses such as rent or mortgage payments, utilities, groceries, homeowner's or renter's insurance, health insurance ...
Staying Together for the Children May Do More Harm Than Good
2012-08-03
Staying Together for the Children May Do More Harm Than Good
Conventional wisdom promotes parents staying in an unhappy marriage "for the sake of the children." Many believe that children are better off with both parents in the home, even if the parents' marriage has failed. However, some experts suggest divorcemay be more beneficial for children than having parents who are together and unhappily married.
Happy Parents Are Good Role Models
Parents who are happy generally raise children who are happy. The parenting skills of those who are trapped in failed ...
More Divorced Women Are Paying Child Support, Alimony
2012-08-03
More Divorced Women Are Paying Child Support, Alimony
Divorce attorneys are seeing a growing number of women pay alimony and child support to former male spouses in California and across the country. The trend represents thousands of women paying their former husbands in a reversal of traditional divorce roles.
According a survey of the American Academy of Matrimonial Lawyers, half of divorce attorneys have seen an increase in the number of divorced women paying child support and alimony, which is also known as spousal support.
Why Are More Women Paying?
The ...
"Grey Divorces" on the Rise
2012-08-03
"Grey Divorces" on the Rise
Divorce professionals are witnessing a steady rise in the number of divorces involving couples over age 50 -- so-called "grey divorces." Researchers are pointing to a number of reasons for this trend. Baby boomers in most grey divorces have more self-oriented expectations about marriage. Many are deciding to focus on personal goals and interests after they've finished raising their kids. With life expectancy increasing, many marriages are now ending in divorceas couples seek fulfillment in retirement as singles.
Statistics
Whatever ...
Take Action to Avoid Foreclosure
2012-08-03
Take Action to Avoid Foreclosure
Since the U.S housing bubble burst in 2005, a wave of home foreclosures has crashed over the nation. The number of people who lost their homes to foreclosure in the years since then has reached unprecedented levels. While the economy shows signs of improvement, many homeowners in Kentucky and across the U.S. are struggling to make mortgage payments and are worried that they might lose their homes. Many feel like they have no options, but there are steps people can take to prevent foreclosure.
Getting Rid of the HouseIf a homeowner ...
e-DBA nominated for three UK Oracle User Group Awards (UKOUG)
2012-08-03
e-DBA, an Oracle Platinum Partner specialising in the provision of Oracle Software, Hardware and 24/7 managed services, has been nominated for three awards by the UK Oracle User Group. These nominations, which recognise the company's success in the past year, are for Oracle Managed Service Partner of the Year, Oracle Database Partner of the Year, and Oracle General Business Partner of the Year.
UKOUG provides Oracle users with the opportunity to influence the design, efficiency and technology that is vital to the Oracle community. The membership organisation was developed ...
Meet Dr. Aaron Wood, The Newest McKinney Dentist
2012-08-03
Dr. Aaron Wood is the newest dentist to join the practice at McKinney Dentist, joining Dr. Berlin, Dr. Markham, and Dr. Lynch in providing top quality care for residents of McKinney, TX and the surrounding areas.
About Dr. Wood
Dr. Wood was born in Houston but spent most of his growing up years in Utah. He earned a bachelor's degree in Chinese from Brigham Young University before moving to San Antonio to attend dental school at the University of Texas Health Science Center. His passions for dentistry and helping people make him one of the best dentists patients could ...
Producer Myles William Announces The Release of The Jay Watts Mixtape "King"
2012-08-03
On July 20, seemingly against all odds, Jay Watts mixtape "King", a Myles William production, was released. The mixtape is currently available on DATPIFF.com. http://www.datpiff.com/Jay-Watts-Jay-Wattsking-mixtape.375301.html.
Fueled by the findings of a cancerous mass on his kidney Jay Watts contacted New York City producer, Myles William, and set up a session to record his entire mixtape. Myles said, "I was upset to hear about what was going on with Jay Watts. Its not right when you hear about a 19 year old with a serious health issue like this, but ...
LAST 30 PRESS RELEASES:
The human costs of climate overshoot
OFC 2026 plenary speakers address AI, advances in optical technologies and satellite communications
Machine learning to scan for signs of extraterrestrial life
Loss of key visual channel triggers rhythmic retinal signals linked to night blindness
New study suggests chiral skyrmion flows can be used for logic devices
AASM congratulates Sleep Medicine Disruptors Innovation Award winners
The future fate of water in the Andes
UC Irvine researchers link Antarctic ice loss to ‘storms’ at the ocean’s subsurface
Deep brain stimulation successful for one in two patients with treatment-resistant severe depression and anxiety
Single-celled organisms found to have a more complex DNA epigenetic code than multicellular life
A new gateway to global antimicrobial resistance data
Weather behind past heat waves could return far deadlier
Ultrasonic device dramatically speeds harvesting of water from the air
Artificial intelligence can improve psychiatric diagnosis
Watch cells trek along vesicle ‘breadcrumbs’
University of Liverpool unveils plans to establish UK’s flagship AI-driven materials discovery centre
ARC at Sheba Medical Center and Mount Sinai launch collaboration with NVIDIA to crack the hidden code of the human genome through AI
SRL welcomes first Deputy Editor-in-Chief
Time to act and not react: how can the European Union turn the tide of antimicrobial resistance?
Apriori Bio and A*STAR Infectious Diseases Labs Announce strategic partnership to advance next generation influenza vaccines
AI and extended reality help to preserve built cultural heritage
A new way to trigger responses in the body
Teeth of babies of stressed mothers come out earlier, suggests study
Slimming with seeds: Cumin curry spice fights fat
Leak-proof gasket with functionalized boron nitride nanoflakes enhances performance and durability
Gallup and West Health unveil new state rankings of Americans’ healthcare experiences
Predicting disease outbreaks using social media
Linearizing tactile sensing: A soft 3D lattice sensor for accurate human-machine interactions
Nearly half of Australian adults experienced childhood trauma, increasing mental illness risk by 50 percent
HKUMed finds depression doubles mortality rates and increases suicide risk 10-fold; timely treatment can reduce risk by up to 30%
[Press-News.org] Get the Red Out: Rebuilding Credit After BankruptcyPeople can take steps to rebuild their credit after filing bankruptcy and come out in a better financial position than before filing.