How Soon Can I Buy a House After Bankruptcy or Foreclosure?

Mortgages

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

Bouncing back from bankruptcy or foreclosure takes time. But that doesn’t mean you have to shelve your homebuying aspirations for some interminable stretch. They’re called “boomerang buyers” for a reason. Consumers may be able to close on a home loan just a couple years removed from one (or both) of these fiscal hiccups. A lot… Read More

How to Get Your Student Loans Forgiven in Bankruptcy

Students

How to Get Your Student Loans Forgiven in Bankruptcy

How to Get Your Student Loans Forgiven in Bankruptcy

“Student loans can’t be discharged in bankruptcy,” has been repeated so often that it’s practically considered gospel. But what if that “fact” is not completely correct – and may be stopping consumers who could benefit from bankruptcy from pursuing it? It’s not just consumers and the media that may be misled. “A wide number of… Read More

7 Signs You’re Heading Into Bankruptcy

Managing Debt

7 Signs You’re Heading Into Bankruptcy

7 Signs You’re Heading Into Bankruptcy

If you’ve been grappling with a lot of personal debt, ignoring the problem won’t make it go way. At best, your bills will simply continue to pile up, and you’ll wind up paying a small fortune in interest and principal payments. At worst, you could wind up in bankruptcy court. Bankruptcy will obviously damage your… Read More

Why It’s Better to Lose Money Fast

Personal Finance

Why It’s Better to Lose Money Fast

Why It’s Better to Lose Money Fast

Most new things fail. Four of five new restaurants close within five years. Three quarters of venture capital-backed startups don’t return their money to investors. Most books don’t earn back the author’s advance. Failure is so common that Google executive Albert Savoia created a rule of thumb for it, called the “Law of Failure.” No… Read More

Will Bankruptcy Wipe Out All of My Debt?

Managing Debt

Will Bankruptcy Wipe Out All of My Debt?

Will Bankruptcy Wipe Out All of My Debt?

A reader, Susan, wondered if revised laws mean that bankruptcy no longer wipes out debt, and instead requires that debts be repaid. She wrote: You have to reorganize and pay what you owe, not wipe them out. Am I correct? Just asking. Glad you asked — it can be confusing, because it depends on what… Read More

How One Woman Survived Divorce & Bankruptcy

Managing Debt

How One Woman Survived Divorce & Bankruptcy

How One Woman Survived Divorce & Bankruptcy

Divorce can simplify finances — if for no other reason because there’s a lot less potential for miscommunication. Just one person is making household financial decisions, so it’s a lot easier to know what’s going on. Indeed, a recent Credit.com survey found that 51% of divorced women say that they are very satisfied with how… Read More

In a Coma & Going Broke

Managing Debt

In a Coma & Going Broke

In a Coma & Going Broke

You will never wind up in a coma. It only happens to those poor souls on the nightly news. Or in the movies.  It’s never people like you. Are you sure? Last week, I updated my will and other end-of-life documents. It did make me stop and think about a lot of things. My money… Read More

Should Bankruptcy Be an Option for Student Loan Borrowers?

Managing Debt

Should Bankruptcy Be an Option for Student Loan Borrowers?

Should Bankruptcy Be an Option for Student Loan Borrowers?

Last month, the Center for American Progress—a progressive think tank—published a report that calls for “a bolder approach” to making student loans more responsive to the needs of financially distressed borrowers. Briefly, the center is advocating for the creation of two new student loan designations: qualified and nonqualified. Qualified loans would be priced in accordance… Read More

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