Sentences with phrase «damaging as a bankruptcy»

A foreclosure is not quite as damaging as a bankruptcy and a bankruptcy can take 18 months or longer to improve your credit score.

Not exact matches

Becoming an authorized user allows some consumers to build up their credit when they don't have any, or to rebuild credit when their own has been damaged after some sort of credit disaster, such as a bankruptcy.

A poll of both traditional lenders (such as banks and national mortgage companies), and non-traditional lenders (such as sub-prime lenders, non-conforming mortgage companies, and finance companies) yielded a fairly unanimous opinion: being in a debt counselling program or consumer credit counseling program was just as damaging to a person's credit as filing a bankruptcy.

People with severely damaged credit, such as a bankruptcy on their credit report, might not qualify.

While it typically won't be as damaging to your score as a bankruptcy, it will still be significant and this will stay on your credit history for seven years.

In addition, it is a costly matter, resulting in thousands of dollars in direct and indirect damages, from legal fees to loss of assets, as well as inflated interest charges on loans and lines of credit taken out after bankruptcy.

Call Toll - Free [phone] As a last option to eliminating credit card debt, you may want to talk with a bankruptcy attorney, but with bankruptcy it becomes very difficult in the future to use your credit even for simple purchases including renting a home or buying a new car due to the damaging long - term effects that bankruptcy has on your credit report.

As a last option to eliminating credit card debt, you may want to talk with a bankruptcy attorney, but with bankruptcy it becomes very difficult in the future to use your credit even for simple purchases including renting a home or buying a new car due to the damaging long - term effects that bankruptcy has on your credit report.

Sorry I mean't to add one other thought, if the card holder is carrying a high balance and their interest rates increase like the banks have been raising in recent months, this could backfire on the banks themselves, I mean since the banks give a 45 notification of the increase and the consumer is already maxed out and can barely make the payments as it is, the increased interest rates because of how the congress requires at least all the monthly interest and some of the principle to be paid on the cards, done so that consumers could reduce the amount of time to illiminate their debts, this may spawn many card holders whoms payments will increase much like those adjustable rate mortgages that people walked away from to go wild with their remaining balances on the card and then default, the whole irony is that the consumer may very well use the card thats damaging them to pay for bankruptcy proceedings lol!

A non-filing spouse should not have their credit damaged as a result of their husband or wife filing for bankruptcy.

And not solving the root issue of debt can lead to such negative consequences as sky - high interest rates, heavy fees, serious credit damage, legal action - even bankruptcy.

Choosing a big bank over a high - risk lender, even if it means you have to start with a lower credit limit or a secured credit card over a traditional credit card, looks better and may even give you more options for growing your credit as you repair the damage from your bankruptcy.

Debt consolidation may be a better choice if you're planning on making major purchases — such as an expensive new car or a home — in the next few years since bankruptcy severely damages your credit.

As an example of one, if a person is found guilty of having an automobile accident while under the influence of alcohol, the damages awarded in a lawsuit judgment can not be discharged by a bankruptcy.

Though it will vary by state, public records such as bankruptcies can be especially damaging — in states like California they will stay on your credit history for up to 15 years.

(5) The relief requested by the consolidated group of claimants shall be limited to monetary damages equal to the net liquidating value of each individual claimant's account (s) as of the close of business on the day of the bankruptcy, but may also include a request for interest, costs and fees where appropriate under the Code;

It is very common for creditors that are included in the bankruptcy to report the account as charge - off that is inaccurate information that can damage your credit score, so you need to get all information reporting inaccurately fixed.

I have a second offspring whose credit has been damaged because of my bankruptcy, as I also cosigned a private student loan for him.

However, this is not usually your main concern as by the time you must file for bankruptcy you are already behind in payments and your credit is damaged.

Filing bankruptcy should always be a last - resort option for a young person, even if your debts are fully dischargeable by bankruptcy as it will damage a young person's credit for a period of time.

I recall hearing, some years ago, that if you homestead your house (just on general principles), it will damage your credit rating, because credit bureaus and lenders interpret that as a sign that you're about to declare bankruptcy.

Deals with clients in business litigation such as that between Pillsbury and the SonicBlue board may be perfectly reasonable in most situations, but in bankruptcy, where the interests of creditors are paramount in a debtor - in - possession situation, such a deal undermines the entire process because Pillsbury could not be expected to fully pursue claims against the board if Pillsbury was potentially on the hook for any damages by agreement.

And while perpetrators may look to bankruptcy as a way to escape the financial obligations of a civil judgment against them, Grace points out that the federal Bankruptcy and Insolvency Act exempts civil damages arising out of sexual assaults from the debts released by a discharge undebankruptcy as a way to escape the financial obligations of a civil judgment against them, Grace points out that the federal Bankruptcy and Insolvency Act exempts civil damages arising out of sexual assaults from the debts released by a discharge undeBankruptcy and Insolvency Act exempts civil damages arising out of sexual assaults from the debts released by a discharge under the Act.

Section 281 (5) provides as follows: «Discharge does not, except to such extent and on such conditions as the court may direct, release the bankrupt from any bankruptcy debt which --(a) consists in a liability to pay damages [of specific types]... in respect of personal injuries to any person; or (b) arises under any order made in family proceedings or under a maintenance calculation made under the Child Support Act 1991.»

Petitioning creditors in involuntary bankruptcy filings need to be aware that they can be subject to having to pay a debtor's attorney's fees for obtaining a dismissal of the case and also may have to pay bad faith damages (both compensatory and punitive) as well as debtor's fees for prosecuting the bad faith damages case against petitioning creditors.

As a practical matter, it is nearly impossible to recover your damages from someone with little or no auto insurance, since they usually have no assets, can homestead their home, or simply file for bankruptcy.

Yet your business could face significant financial losses and even bankruptcy should you ever be sued due to property damage, injuries or accidental death as a result of your employees or services.

Yet your business could face financial losses and even bankruptcy should you ever be sued because of property damage, injuries or accidental death as a result of your services or the actions of your employees.

As vehicular accidents can really cause a huge damage on your finances, sometimes even leading to bankruptcies, it is really important that you protect yourself from the unnecessary troubles an accident may inflict upon you.

We have been accepted as expert witnesses in all Delaware courts, as well as U S District Court, and we have testified in cases including eminent domain, bankruptcy, property damages, and property settlements.