Category: Georgia | Bankruptcy - page 3

Some put off filing bankruptcy, or decide against it entirely, just because they are worried about their credit score. While this may be a valid concern in some cases, it normally doesn’t justify dismissing the idea of bankruptcy entirely. The benefits of bankruptcy often outweigh its potential effects on the filer’s credit score. Additionally, rebuilding…

Many people fear that bankruptcy will make it impossible for them to ever own a home again. This simply isn’t true. First of all, many people who are eligible for a Chapter 13 bankruptcy can keep the home that they are in now. This is what Chapter 13 debt reorganization is designed to do. You…

Most people understand the importance of maintaining good credit. But what exactly is a credit score and how can you help ensure yours falls into the best range possible? Your credit score is a three-digit number that offers a rating based on all of the information contained in your credit report. This document includes an…

You know your ability to buy and keep a home is influenced by financial factors like income, equity and credit history. But a recent study suggests that there’s another element at work. According to a new study by Zillow and the National Urban League, ethnicity may play a significant role in one’s success – or…

Worried that bankruptcy will ruin your credit score forever? It’s a widespread myth that bankruptcy does permanent damage. In reality, the most damaging decision you make may be to not file bankruptcy. While it’s true that bankruptcy will leave a mark on your credit report, rebuilding credit after a bankruptcy case is definitely possible. In…

The Federal Housing Administration (FHA)’s new “Back to Work” lending plan shortens the waiting time required to secure a mortgage after bankruptcy or foreclosure to 12 months. FHA mortgages have always been a great option for first-time or lower-income borrowers because they require only a 3.5 percent down payment. In the past, borrowers had to…