Owing to young age and not having adequate financial knowledge, I messed up my finances. I had acquired quite a significant credit card debt from my college days which I’m still struggling to fight and pay back. Once I met a financial adviser who suggested me to file a bankruptcy but my parents tell me that doing so, I’ll not be able to buy a home as I will not get a loan in the future. Moreover, my credit score will drop.
Wondering what will be my credit score be after bankruptcy. Even if I have to file one, how to improve credit score after Chapter 7 or 13.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.