Rate this post The credit score of the debtor might be seriously affected if they do not follow the obligations that they need to undertake. The credit score will also mean that they are effectively removed from the formal financial system. A bad credit score will make it very difficult for the person to get credit of any sort unless they go to the loan sharks. These loan sharks will exploit the situation and charge them interest rates that are far higher than the industry standard.
Rate this post For most of the consumers debt is an integral part of their life. They hunt for loans running from one investor to the other. But finally land up saying that they are unable to repay the loan. In this case they seek the remedy by filing bankruptcy, which really affects them in many ways. Please find the following ways in which you can avoid filing bankruptcy and save your credit scores.
Rate this post In times of recession everyone is facing the problem of debt. It has become difficult for everyone to meet their expenses; this has led to then getting debt. If you are in debt in times of recession, then it becomes very difficult to settle the debts. More and more people are turning to take professional help to settle their debts and get free of their liability. In this there are many companies that are offering their service to settle the debts and negotiating with the creditors so that the main amount of loan is reduced and your … Continue reading
Rate this post Bankruptcy is one financial situation nobody wishes to experience. Losing your job or your business is bad enough, but admitting that you are no longer able to pay your creditors is the worst thing that can happen to you financially. It signifies that you have lost everything – your source of income and even your self esteem. The problem can be compounded by worrying about the possible scenarios that can happen after you filed a bankruptcy protection in court. It affects your everyday life. If you still have a job, you worry that creditors will go for … Continue reading