Consolidating debt home equity
Bankruptcy information stays on a credit report for 10 years and can make it difficult to get credit, buy a home, get life insurance, or sometimes get a job.
To find out if you qualify, contact your local Armed Forces Legal Assistance office.This includes money owed on personal credit card accounts, auto loans, medical bills, and mortgages.The FDCPA does not cover debts incurred in running a business.“The company will then use this money to attempt to negotiate with creditors to reduce the amount of principal you pay off.” If you’re considering this option, try to speak with a nonprofit credit counselor first because debt settlement can put your credit in jeopardy.(You can learn more about , which could lead to a lawsuit, the CFPB says.
There are dozens of ways to do this, and some include transferring debt to a zero or low-interest credit card, taking out a debt consolidation loan, applying for a home equity loan or paying back your debt through a debt repayment plan.