A bankruptcy record in a credit report can take a big bite out of a credit score. A bankruptcy is considered one of the most damaging occurrences in a credit report measured by the major credit score models, regardless of the type bankruptcy. As long as the bankruptcy filing is listed in a credit report, it is calculated into the credit score. The more time that goes by after the bankruptcy is initially recorded in the credit report the less the impact the bankruptcy will have on the … [Read more...]
Review the Credit Accounts in Your Credit Report to Improve Your Credit Score
September 9, 2010 By Leave a Comment
Once a consumer is familiar with the components from a credit report that factor into a credit score, one of the first step steps to try and improve a credit score is to review the credit report for errors and inaccurate information. Credit reports are often filled with numerous errors however; most of these errors do not impact a credit score. The focus in reviewing the credit report is to have the accounts and records that impact the credit score repaired or removed. When reviewing a … [Read more...]
Bankruptcy Filing Fees
September 6, 2010 By Leave a Comment
There can b a variety of costs associated with a bankruptcy filing, some of the fees or costs are mandatory bankruptcy filing fees and some are optional costs such as hiring an attorney to represent the individual filing for bankruptcy. At the time a petition for bankruptcy is filed, the petitioner is required to pay a bankruptcy filing fee. The bankruptcy filing fees required to file a chapter 7 case total $299.00, the bankruptcy filing fees to file a chapter 13 case total … [Read more...]
Bankruptcy and Bill Collectors
July 23, 2010 By Leave a Comment
Bankruptcy protection is made available to consumers who can’t pay their creditors or debts to help resolve the debt burden. One of the major benefits of filing for protection under Chapter 7 is that many creditor actions are stayed or brought to a standstill. This means that any debt collection efforts and foreclosure procedures are halted. Once a creditor or bill collector has been notified that a consumer has filed for bankruptcy protection, the bill collector or collection agency … [Read more...]