When Does It Make Sense to Let the House Go When Filing Bankruptcy ?
A home can be surrendered to the bank or mortgage holder in Chapter 7 Bankruptcy and the debt owing on the home is then discharged, or eliminated.
Bankruptcy Helped Save General Motors, Can It Help You Too ?
Why is bankruptcy an acceptable, legitimate means to try to save your home and deal with other debt ? William D. Cohan, writing in the New York Times, gives us the answer: “Indeed, for corporations across the country, both big and small, using the bankruptcy process...Can filing bankruptcy improve your credit score ?
For the first few months, most clients see no change in their credit score. After about the first year or so, folks will generally see their credit score improve and continue to improve year after year as long as they establish good financial practices and goals.
Can Bankruptcy Help ?
Although bankruptcy cases can be complex, many of the procedures and cases are routine. Before filing a bankruptcy case, you or your attorney should analyze your eligibility for different forms of debt relief available under the Bankruptcy Code and which form of relief is most beneficial to you.