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December 2014 Archives

Rebuilding credit after a Washington D.C. bankruptcy

Those who have recently filed for bankruptcy may believe that their credit is ruined for the next 10 years. However, this is generally not the case. The key is understanding the specific bankruptcy that an individual filed for. For example, those who filed for Chapter 13 bankruptcy will see it come off their credit report after seven years instead of 10 years.

Chapter 13 Bankruptcy

When DC residents consider filing for bankruptcy, they have a few different options. For some, Chapter 13 bankruptcy may be the best option. This type of bankruptcy allows people to deal with large amounts of debt in a structured, organized way. This may provide people struggling with debt a way out of their tough circumstances.

Car repossession and bankruptcy

When District of Columbia residents are faced with unmanageable debt, many consider bankruptcy as an option. However, people are often concerned about whether they might lose their car to repossession during the bankruptcy.

Options for debt relief

Washington, D.C., is an expensive place to live. In many cases, a serious health problem or job loss can result in substantial debt. Anyone who is serious about relieving their debt should carefully examine advertisements for debt relief services. These services are often provided by bankruptcy attorneys, but there happen to be several options in addition to filing for bankruptcy.

Strategies for avoiding foreclosure in Washington, D.C.

Many people face the specter of possible foreclosure and do not know what to do in order to try to stop the action. When people want to stop a foreclosure, there are several things that they can do. The first step in trying to avoid a foreclosure is talking with the lender or servicer of the loan as soon as a person knows that their mortgage payment will either be late or that it will go unpaid. When entering into the discussion, people should be aware of several available options.

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