How to Rebuild Your Finances and Credit After Bankruptcy

2020-05-01T13:46:42+00:00By |Comment(s):Comments Off on How to Rebuild Your Finances and Credit After Bankruptcy

So, you’ve filed for Chapter 7 bankruptcy and been awarded a clean slate. That’s all well and good, but will you ever have decent credit again? Most likely, if you were eligible to file for bankruptcy, you were already struggling financially, and your credit was in bad shape. And, your credit score probably dropped even more when you were granted your bankruptcy. Thankfully, there are things you can do to start building your credit back up right away. By following our advice, you should see your score start to rise in about a year. 

How to Start Rebuilding Your Finances 

Now that you have a fresh start, potential lenders will want to see that you have enough money coming in pay your bills, with at least a little

5 Steps to Buying a House During or After Bankruptcy

2020-05-01T18:58:12+00:00By |Comment(s):Comments Off on 5 Steps to Buying a House During or After Bankruptcy

Many individuals believe that after filing for Chapter 13 bankruptcy they are in no position to get a home loan.  However, there are lenders that specialize in helping bankruptcy filers get a home loan, refinance an existing mortgage, or complete a cash out refinance.  Here are 5 steps you can take in order to position yourself to achieve your mortgage goals.

1. Organize Your Finances

a.   Get an In-Depth Credit Review
When you are looking to buy a house after bankruptcy, some companies will provide you with a 3-in-1 credit review.  This way you can see if there are any factors that are positively or negatively impacting your credit.

b.   Establish a Monthly Budget
Make sure that every dollar you earn has its place.  Your income needs to go towards paying

7 Steps to Recover From Bankruptcy

2020-05-01T19:28:18+00:00By |Comment(s):Comments Off on 7 Steps to Recover From Bankruptcy

Some people actually believe that filing for bankruptcy is an easy process and a way out from under the debt that is running their lives.  While it can be a way out, it is not easy and should not be taken lightly.  If you do have to file for bankruptcy, there are several steps you should take after the court proceedings are over to recover from the bankruptcy.

1. Understand that bankruptcy is a beginning, not an end.

Bankruptcy is tough and the stress from dealing with creditors has been running your life for many months.  Instead of thinking of bankruptcy as the end of your world, think of it as a new start for you and your family.  Your debts have been settled and now you can see the light at

The Fear of Life After Bankruptcy

2020-05-01T19:34:34+00:00By |Comment(s):Comments Off on The Fear of Life After Bankruptcy

Bankruptcy filings are soaring, however, many people still fear life after bankruptcy in terms of their future financial status.

Why People Are Afraid

Bankruptcy is one of those words and concepts that inspire fear in many people, because of the uncertainty of life after bankruptcy.  Most people who are in dire financial situations only know about the bad things and their biggest shared fear is that they believe there is no way they can regain their credit status and a stable financial situation after filing for bankruptcy.

The Truth

The truth about life after bankruptcy is that you can recover financially and you can regain your credit status.  The best things about having this knowledge are that:

  1. You can plan your recovery before filing.
  2. Incorporate this plan into your bankruptcy repayment plans.
  3. You realize

When to Start Rebuilding Credit after a Bankruptcy

2020-05-01T19:49:00+00:00By |Comment(s):Comments Off on When to Start Rebuilding Credit after a Bankruptcy

If you are considering going through bankruptcy proceedings to clear your debt, you may be scared about what this is going to mean for your credit. You have heard the rumors about not being able to get any new credit for seven years. You may have even heard about the impossibility for you to have good credit ever again. In fact, neither of these statements is true. Creditors are eager to start working with you to rebuild your credit the moment you walk out of the bankruptcy court. Being smart about how you work on rebuilding your credit can help you to get on the road to a better financial future sooner than you thought possible.

Why You Should Apply for Credit

The creditors you are working with through your bankruptcy are

Tips for Recovering From Bankruptcy in Hawaii

2020-05-01T19:56:08+00:00By |Comment(s):Comments Off on Tips for Recovering From Bankruptcy in Hawaii

How is bankruptcy different in Hawaii than other states? And how is recovering from bankruptcy different in Hawaii than the mainland?

Bankruptcy in Hawaii

Bankruptcy allows petitioners the choice of filing for bankruptcy using exemptions under the state bankruptcy code or federal bankruptcy code. This gives debtors a chance to compare their assets and obligations against the exemptions and protections of each code and choose the bankruptcy filing that is best for them.

Rules for the First Months After Bankruptcy

Hawaii allows debtors to keep their exempt property after bankruptcy. When the bankruptcy has been discharged, the money that you earn is yours to keep less obligations like taxes, alimony and child support. However, if you receive money in the form of a property settlement, an inheritance or life insurance payout within 180 days

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