The most common creditor calls typically come from credit card companies and third-party collection agencies, especially when payments are late or accounts have gone into default. These collectors often call multiple times a day, seeking payment in full or a negotiated settlement. Medical debt is another major source of collection calls, particularly after hospital visits […]

Ensure Your Credit Report is Accurate After bankruptcy, some creditors might fail to update your accounts properly. That can hurt your credit score even more than necessary. You want to make sure: All debts discharged in bankruptcy show a $0 balance They’re labeled “included in bankruptcy” (not just left as “delinquent” or “charged off”) No […]

Carrying a high credit card balance after bankruptcy happens for a few key reasons, most of which come down to misunderstanding credit utilization, financial struggles, or bad habits. Here’s how it happens: 1. Misunderstanding How Credit Works Many people believe that using a high percentage of their credit limit helps build their credit faster. In […]

Yes, vehicle repossession debt can lead to bankruptcy if it creates an overwhelming financial burden. Here’s how: Deficiency Balance – If your car is repossessed and sold at auction for less than what you owe on the loan, the lender can pursue you for the remaining balance (deficiency balance). This can be a significant debt, […]

Credit counseling is a service that helps individuals manage their finances, particularly when dealing with debt. It is typically provided by nonprofit organizations or financial experts who assess your financial situation, provide budgeting advice, and offer strategies to improve your credit health. What Credit Counseling Includes: Budgeting Assistance: Helps you create a realistic budget to […]