Sawin & Shea
FEBRUARY 28, 2024
When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.
Sawin & Shea
JANUARY 24, 2024
When you are overwhelmed by debt, you may start to wonder if declaring bankruptcy or pursuing debt consolidation is the better option. Understanding the key aspects of each can help you determine what is better, bankruptcy or debt consolidation, for your situation. Equity loans put your home at risk as collateral.
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Credit Corp
JULY 26, 2021
Mortgage Debt. Joint mortgages pass directly to co-borrowers, who become responsible for the loan. the decedent—pass to listed beneficiaries, who then become responsible for the loan. If beneficiaries can’t or won’t assume the loan, they can sell the property to settle the debt instead. Car Loan Debt.
Titan Consulting
AUGUST 23, 2020
Filers can typically retain the home and vehicle as long as you make payments on the loan. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. Federally managed student loans received an automatic six-month payment waiver.
Titan Consulting
APRIL 26, 2020
Deferring your auto payments may put you at risk for repossession if your lender requires you to catchup and make all deferred payments at the end of the deferral period. These options could extend the loan term, or reduce the interest rate to lower the payment permanently. . Some payment waivers could come back to haunt you.
Better Credit Blog
AUGUST 21, 2020
If you have a 560 credit score, your approval odds for loans are low, and your credit rating is pretty poor. Can You Get a Loan Approval with a 560 Credit Score? Repossessions. Debt collections. The issues above can hinder your access to both revolving lines of credit and installment loans. Bankruptcy.
Better Credit Blog
SEPTEMBER 9, 2021
The reason this number is so important is that it can determine whether you can get a loan for a house, car, or other essential purchase, and at what interest rate. Conversely, the higher the interest rate, the higher your monthly payments, and the overall loan. Did you build up too much credit card debt?
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