as-vts5midw's blog

Filing for bankruptcy can be an overwhelming process, and you may be wondering if you will still be able to buy a car. It might seem like you don't have many options for making large purchases such as a vehicle. The good news is that with the right help, buying a car after bankruptcy is still possible. It can even help you rebuild your credit.

Both Chapter 7 bankruptcy and Chapter 13 bankruptcy provide powerful tools for people who are overwhelmed by debt. However, neither type of bankruptcy is a magical solution that puts an instant end to a debtor’s financial problems. In a typical Chapter 7 bankruptcy case, it takes about 4 to 6 months to receive a discharge. A Chapter 13 case is built around a repayment plan that lasts from three to five years.

Nobody is eager to file bankruptcy, and for some people struggling with debt there are other viable alternatives. For most people, doing nothing and hoping for the best is not a viable alternative. Still, it’s one that far too many people choose.

There’s no question that bankruptcy is a negative on your credit report. A Chapter 7 bankruptcy case stays on your credit history for 10 years, and a Chapter 13 case for seven. It will come as no surprise that most creditors don’t love to see bankruptcy when they’re reviewing your credit report.

That said, the impact of a bankruptcy filing on credit scores differs significantly depending on your starting point—an important piece of the puzzle that is often overlooked when people offer generalized advice about bankruptcy and credit.

Technically, any individual can file for Chapter 7 bankruptcy unless the debtor, in the preceding 180 days, either:

If you are struggling to pay your auto loan debt, you are not alone. According to the New York Federal Reserve, more than 7 million people in America are seriously delinquent on their auto loan debt through the end of 2018.

Working as a secret shopper, being paid to have your car wrapped with a company logo, and winning the lottery all have one thing in common—they are all tactics scammers are using to try to steal your hard-earned money.

On this Thanksgiving Day, we are thankful for the things we have.  We generally celebrate Thanksgiving by eating a large meal to include meat and vegetables.  Our local radio station had a radio program on this week and discussed what are called Food Deserts prompting me to research it a little.

Bond & Botes, P.C., is pleased to announce the winner of our undergraduate Financial Hardship Scholarship for 2016.

On May 27, 2015, the Board of Governors of the Federal Reserve released a survey regarding the financial health of the U.S. Economy.  The report, titled the “Report on the Economic Well-Being of U.S. Households in 2014” focused on the current state of the U.S. Economy from the perspective of its citizenry.  The report is full of very useful and insightful information concerning the financial health of its citizens.