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July 2018 Archives

Car loans still possible after Chapter 7

One of the biggest fears surrounding a bankruptcy filing is the effect this financial move will have on an individual's credit rating. Specifically, Connecticut residents who file for Chapter 7 bankruptcy are often concerned they will be unable to secure loans after filing. In fact, at least in the case of car loans, the opposite is sometimes true.

Improving credit score as part of debt relief

Credit card debt is among the most insidious and tenacious forms of debt facing American citizens today. In Connecticut and elsewhere, many families and individuals are on the lookout for debt relief due to a high-interest balance on one or more credit cards. Of course, such balances can negatively affect credit scores, which in turn influence an individual or family's ability to secure additional loans, mortgages and other financial assets crucial to long-term stability. Thankfully, there are a variety of ways to improve a credit score, even after a Chapter 7 bankruptcy filing. 

Debt relief begins with understanding of debt

It is no secret that many American families struggle with debt. Credit card debt is particularly difficult to pay down, leading some Connecticut residents to seek debt relief options. However, before considering restructuring or bankruptcy, it is important to understand one of the foundational myths about credit cards and their impact on American lives.

How Chapter 7 bankruptcy works

There is a great deal of misinformation circulated about bankruptcy in the American consciousness. For many Connecticut residents, the prospect of declaring Chapter 7 bankruptcy can be daunting or even frightening. It can be very helpful for individuals struggling with debt to understand how the process actually works, in order to determine whether it is the right financial move for them.