Credit Corp

AUGUST 23, 2021

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.”

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Sawin & Shea

MAY 2, 2024

With a deep commitment to personalized service, we take the time to understand your unique circumstances and tailor our approach to your specific needs. Credit card balances, personal loans, and other unsecured debts can quickly spiral out of control, especially when combined with secured debts like a car loan or mortgage.

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Sawin & Shea

NOVEMBER 15, 2023

Unsecured debt would include things like: Medical bills Credit card bills Utility bills Back rent Personal loans At the end of the bankruptcy process, the remaining balances for these types of unsecured debts will likely be forgiven. A Chapter 13 plan can cure arrearages on houses or cars, stopping foreclosures and repossessions.

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Debt Free Colorado

DECEMBER 9, 2021

The lender protects the borrower against foreclosure. Occasionally, creditors may refuse to repossess little goods due to the expense of picking them up. A mortgage or car loan secures the lender’s interest in your house. Even if you have been discharged, unpaid debts may result in foreclosure or repossession.

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Better Credit Blog

AUGUST 21, 2020

But what score do lenders consider to be good? If you have a 560 credit score, your approval odds for loans are low, and your credit rating is pretty poor. Repossessions. The issues above can hinder your access to both revolving lines of credit and installment loans. FHA loan 500 with 10% down, 580 with 3.5%

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Sawin & Shea

JANUARY 25, 2022

For example, when you take out a home loan, you will be required to sign a mortgage which grants the lender a lien, or security interest against your home should you fall behind on payments. Instead, when a debtor fails to pay, the lender must first file a lawsuit in order to collect what is owed.

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Better Credit Blog

NOVEMBER 18, 2021

That’s why it’s so important to know what these data sources are “saying” about you to potential lenders. Credit scores are three-digit numbers ranging from 300–850 that give lenders a snapshot of your financial history. Lenders use FICO Score and VantageScore to understand your credit risk. a mortgage, a car loan, and cards).

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Lender Loans Personal loans Bankruptcy 59

Sawin & Shea

MARCH 7, 2023

When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments.

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Sawin & Shea

APRIL 17, 2024

The court will then order a bankruptcy stay — also called an automatic stay — that prohibits creditors and lenders from collecting what you owe. You will not be able to discharge: Family and child support Most student loans Most local, state, and federal taxes How Does Filing Bankruptcy Impact Your Standing with Credit Bureaus?

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Better Credit Blog

AUGUST 4, 2020

Short for the First National Bank of Omaha, FNB National is a popular bank for several personal and professional financial services and products, including: Banking. Home loans. Auto loans. Personal loans. Student loan refinancing. Repossessions. Investment accounts. Credit cards. Wealth advising.

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Credit Corp

JULY 26, 2021

If no one is able to pay off the loan, the lender may repossess it. If your family member passes away with outstanding credit card debt, the lender may try to recover the debt from their estate. Student Loan Debt. Federal student loans and PLUS loans get discharged if borrowers pass away.

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Better Credit Blog

FEBRUARY 11, 2022

Debt settlement firms expect you to stop paying your lenders and make monthly installments into a secure trust instead. While waiting for money to build up in your secure trust, the debt settlement firm won’t send any to your lenders. Many lenders decide it’s in their best interests to agree. Credit card loans.

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Sawin & Shea

APRIL 10, 2024

Chapter 7 is also known as liquidation bankruptcy because it involves liquidating (selling off) non-exempt assets belonging to the debtor to repay creditors and lenders. The automatic stay prohibits creditors and lenders from attempting to recover what you owe. What Is Chapter 7 Bankruptcy?

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Better Credit Blog

JANUARY 5, 2021

Citi also offers personal loans, lines of credit, and mortgages, which can prompt a hard inquiry. As such, lenders don’t judge you too harshly for having a few inquiries on your report. If you want to know the origins of a hard inquiry on your report, you should go to the bank or lender listed on your report. Bankruptcy.

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Better Credit Blog

JANUARY 5, 2021

Citi also offers personal loans, lines of credit, and mortgages which can prompt a hard inquiry. As such, lenders don’t judge you too harshly for having a few inquiries on your report. If you want to know the origins of a hard inquiry on your report, you should go to the bank or lender listed on your report. Repossession.

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