A 50-something buddy was recently advised to file for bankruptcy after a thorough review and financial briefing from his credit counselor. Bankruptcy involves the closing down of his business, giving up any possessions of value and his interest in his property and the inability to obtain new credit. My buddy says he is ready to get a
Posts Tagged ‘bankrupt’
Last month, 89 people were declared bankrupts over credit card bills. The increasing number of people becoming bankrupts due to credit card debts is “worrying”. In 2005, 1,497 credit card holders were declared bankrupt, representing an increase of 34% over the 1,117 credit card defaulters in 2002. In 2004, the number was 1,397. In the past, people
For those who have been late in repaying loans, defaulted on a loan or even declared bankruptcy, does a marred credit report mean the end of your credit days ? 1. Only the conduct of account for the last 12 months is shown in the credit report. If you missed a payment five years ago but