November 13, 2012 (Press-News.org) How to bounce back after bankruptcy
Having financial problems can be like a dark cloud over your head. For many people, filing for bankruptcy gives them much needed relief from mounting debt that they cannot pay, as well as peace of mind.
But this piece of mind comes at a price, and before making the decision to file for bankruptcy, you should be aware of the ramifications that it will have on your finances and credit. For example, a bankruptcy will show up on your credit report for several years and can negatively affect your ability to get credit -- as well as certain jobs. In addition, when you do get credit after bankruptcy, you will be subject to higher interest rates because you will be deemed a higher credit risk.
Life after bankruptcy
If you are considering filing for bankruptcy, keep in mind that you are far from alone. According to the American Bankruptcy Institute, in the second quarter of 2010, over 400,000 people went through a bankruptcy. And although it is difficult, there is life after bankruptcy and you can bounce back.
Evaluate your circumstances. After going through a bankruptcy, it is a good opportunity to evaluate what went wrong and why your financial problems occurred. This way you can face your credit future with both eyes open.
Know where you stand. Be sure to check your credit report to make sure that everything on it is accurate. The National Association of State Public Interest Research Groups reports that as many as 79 percent of credit reports have some kind of error listed on them. The last thing you want to do is leave a mistake lingering on your credit report that can prevent you from moving on from your bankruptcy.
Rebuild your credit. It can be difficult to get credit after a bankruptcy, but not impossible. You may be able to get a credit card with a small credit line that will help you rebuild your credit history. If you are unable to get an unsecured credit card, getting a secured credit card, where you put down money upfront that is used as your available credit, can go a long way toward showing that you can handle credit.
Pay your bills on time. Future creditors will want to know that you are able to pay your bills, so it is important to make sure that your rent and utilities are always paid in full and on time.
Get legal help
If you are considering bankruptcy, contact a qualified bankruptcy attorney who can advise you of your rights and help you get through the legal steps you need to take to get the relief that you need. Bankruptcy can be a complicated process, and you do not want to go through it without an experienced advocate on your side.
Article provided by Charles E. Covey, Attorney At Law
Visit us at www.peoriabankruptcylaw.com
How to Bounce Back after Bankruptcy
Although bankruptcy can adversely affect your credit, there are ways to rebuild your credit after bankruptcy.
2012-11-13
ELSE PRESS RELEASES FROM THIS DATE:
Police Restricted from Using Heat-Sensing Equipment in Drug Investigations
2012-11-13
Police Restricted from Using Heat-Sensing Equipment in Drug Investigations
Technology has seemingly always moved faster than the law can keep up. Often, police will be allowed to use investigatory tactics that take advantage of these lapses in the law. If an individual does not fight these practices, the evidence that was obtained may be used against them at trial. If an offender challenges these tactics or the equipment that is being used, he or she may find the court is not sympathetic to his or her concerns.
However, a recent Georgia Supreme Court case may have ...
Study Shows Distractions Cause Increase in Surgical Errors
2012-11-13
Study Shows Distractions Cause Increase in Surgical Errors
No matter what the procedure, facing surgery can be a stressful experience. Indeed, for many patients, success in the operating room can mean the difference between life and death. For this reason, it is natural to assume that surgeons would maintain their focus and take steps to prevent distractions while performing operations. A recent study, however, indicates that distractions are more of a problem during surgery than many would imagine.
The Effect of Interruptions on Surgery
According to a study published ...
"Breast Cancer Gene" May Have Implications For Early Cancer Diagnosis
2012-11-13
"Breast cancer gene" may have implications for early cancer diagnosis
As science progresses to new levels, the predictive potential of genetic testing is being increasingly utilized in the medical field. One of the tools being used to prevent delayed diagnosis of breast cancer is DNA screening for the so-called "breast cancer gene."
BRCA gene mutation increases cancer risk, may warrant prevention options
It is well known that certain gene mutations increase the risk for developing breast cancer: the BRCA gene mutation accounts for between five ...
Dividing Marital Property in a Washington Divorce
2012-11-13
Dividing marital property in a Washington divorce
Every married couple accumulates assets and debts during the course of their life together. When a marriage ends, the divorce court is tasked with dividing that property between the two spouses.
Washington follows "community property" rules, meaning that courts consider nearly all assets and debts acquired during the marriage to be owned equally by both spouses. There are some exceptions to this general rule. For instance, inheritances received during the marriage are not included in this calculation. In ...
Spousal Maintenance in Minnesota
2012-11-13
Spousal Maintenance in Minnesota
When a couple is having problems with their marriage, it can be an emotionally draining time. If the couple decides to get a divorce, the life that they spent building together now needs to be divided apart.
For some spouses, this can be a very difficult and contentious process. It is not uncommon for issues of child custody and property division to be challenging issues for the parties to resolve. This can be a crucial part of any divorce, as the decisions made at this time may not be able to be changed in the future.
Spousal maintenance, ...
Safe Driving Tips for Winter in Alaska
2012-11-13
Safe driving tips for winter in Alaska
Winter is upon us in Alaska, and that means cold weather and treacherous driving conditions are going to be facts of life for many months. Slippery roads, limited visibility and other winter hazards make it easier to get into a car accident during this time of year, but that doesn't mean that drivers have any less of a responsibility when it comes to preventing crashes or taking responsibility when they happen.
Alaska car accident victims have the same rights in the winter as they do during the rest of the year. Anyone who is ...
Los Angeles County Honors Young Distracted-Driving Accident Victim
2012-11-13
Los Angeles County honors young distracted-driving accident victim
As part of our back-to-school tradition, Americans are used to the sight of high school cross-country running teams hitting the streets in packs in the autumn. In Sherman Oaks, California, on October 19, 2012, 16-year-old Conor Lynch was out running with his team when he died instantly upon being struck by an SUV driven by an 18-year-old unlicensed female driver. He was crossing the street and the distracted driver failed to yield the right of way.
By coincidence, the accident that killed Lynch happened ...
Equally Deadly: ICU Misdiagnosis And Breast Cancer
2012-11-13
According to patient safety experts at Johns Hopkins University School of Medicine, the number of preventable patient deaths attributable to misdiagnosis while in intensive care is equal to the number of patients who lose the battle with breast cancer each year. The big difference? One was actually diagnosed and the patient given a chance to fight for his or her life.
Autopsies that were conducted on patients who had died while in an intensive care unit (ICU) revealed that approximately one in four had at least one undiagnosed illness at the time of his or her death. ...
Atlanta Pool Repair Specialists Pinnacle Pool Services Discusses Pool Pump Motor Quality
2012-11-13
Pinnacle Pool Services has seen a notable decline in the quality of pool pump motors over the years. Replacing pool pumps can be one of the more expensive Atlanta pool repairs homeowners encounter; however, Pinnacle Pool Services recommends replacing faulty pumps instead of attempting to repair their low-quality motors.
Pool pumps consist of two separate sides: the back end, which houses the motor, and the wet end, which pulls in water for circulation. If either side is not operating at its best, the pump can fail as a whole, and need to be replaced. Motors are particularly ...
Designer Glasses Frames Retailer Eyeglass World Explains Eyewear Maintenance
2012-11-13
Designer eyewear retailer Eyeglass World would like to explain how to properly care for your glasses. Understanding proper maintenance can help to ensure that your eyewear lasts longer and stays looking good as new.
One way to make your glasses maintenance easier is to start off by purchasing a good pair that has a durable frame and properly coated lenses to suit your lifestyle. Choosing a high quality product will naturally give you a more lasting pair.
Any time that your glasses are exposed to liquids, including sea spray or perspiration, they should be cleaned ...
LAST 30 PRESS RELEASES:
Robotic space rovers keep getting stuck. UW engineers have figured out why
New research shows how immigration status can become a death sentence during public health crisis
University of Toronto Engineering researchers develop safer alternative non-stick coating
Good vibrations: Scientists use imaging technology to visualize heat
More ecological diversity means better nutritional resources in Fiji’s agroforests
New global study shows freshwater is disappearing at alarming rates
Scientists create an artificial cell capable of navigating its environment using chemistry alone
A little salt is good for battery health
Deep-sea fish confirmed as a significant source of ocean carbonate
How to keep kids with eating disorders home after hospital stay? Therapy
Sex differences affect efficacy of opioid overdose treatment
Aligning AI with Human Values and Well-Being
Engineering the next generation of experimental physics
The scuba diving industry is funding marine ecosystem conservation and employing locals
BATMAN brings TCR therapy out of the shadows
Surrogates more likely to be diagnosed with mental illness, study finds
Columbia Engineering researchers turn dairy byproduct into tissue repair gel
Global estimates of lives and life-years saved by COVID-19 vaccination during 2020-2024
Potential trade-offs of proposed cuts to the NIH
New research simulates cancer cell behavior
COVID, over 2.5 million deaths prevented worldwide thanks to vaccines. One life saved for every 5,400 doses administered
Scuba diving generates up to $20 billion annually
Scientists advance efforts to create ‘virtual cell lab’ as testing ground for future research with live cells
How DNA packaging controls the “genome’s guardian”
Simplified models, deeper insights: Coarse-grained models unlock new potential for ionic liquid simulations
Gorillas’ personal circumstances shape their aggression towards groupmates
Which signalling pathways in the cell lead to possible therapies for Parkinson's disease
Identifying landslide threats using hydrological predictors
First graders who use more educational media spend more time reading
Exploring the meaning in life through phenomenology and philosophy
[Press-News.org] How to Bounce Back after BankruptcyAlthough bankruptcy can adversely affect your credit, there are ways to rebuild your credit after bankruptcy.