Category Archives: Bankruptcy laws

bad credit home loan mortgage matters What can I do if I have bad credit but I want to obtain a home loan? If you have bad credit, it generally cannot be avoided on your credit report and can affect … Continue reading →

what credit credit problems What is credit? Credit is money a creditor or lender makes available for you to borrow with a deferred repayment. In exchange for the credit, the lender gets back the money, usually paid on a monthly … Continue reading →

credit insurance credit problems What is credit insurance? Credit insurance comes in several different forms: Credit life insurance – the outstanding balance is paid in the event of your death. Credit accident and health insurance – monthly credit payments are … Continue reading →

secure credit credit problems What is a secured credit card? Some people have a poor credit record because they have not paid outstanding debts in the past or because they have recently filed for bankruptcy. People with poor credit records … Continue reading →

incorrect credit credit problems What can I do if a credit report has incorrect information about me? If you believe information being reported about you is inaccurate, incomplete or outdated, challenge it by notifying the credit reporting bureau. Once placed … Continue reading →

equal opportunity credit problems What is the Equal Credit Opportunity Act? The Equal Credit Opportunity Act (ECOA) is federal law that prohibits creditors from certain forms of discrimination. Age (as long as you are old enough to enter into a … Continue reading →

lending act credit problems What is the Truth in Lending Act? The Truth in Lending Act is federal law that regulates the credit market and sets minimum standards for the information that a creditor must provide in an installment credit … Continue reading →

uniform transfer to minors consumer bankruptcy Will the Uniform Transfers to Minors Act help me provide for my children? Money held in trust for someone else is not property of the estate. Let’s say you setup a Uniform Transfers to … Continue reading →

family gifts bankruptcy consumer bankruptcy What about family gifts? Small customary gifts to family members are not voidable preferences. “Small” means less than $200 in aggregate during the past year. Example: you give your daughter an Aston Martin for her … Continue reading →

divorce-and-bankruptcy consumer bankruptcy My ex-spouse was ordered to pay some debts in our divorce. Can he avoid paying by declaring bankruptcy? In some cases he can. It depends on whether the payment of the debt is characterized as support. Many … Continue reading →