Bankruptcy Loan

Secured Personal Loans: Funding After Bankruptcy

Author: Melissa Kellett

After bankruptcy, it can be very difficult to get approved for a personal loan, nevertheless, there are some lenders willing to lend to people in such financial difficulties as long as they can provide enough security in order to reduce the risk of missed payments and default which is what worries lender’s the most.

There is no need to despair; someone who has gone through a bankruptcy process can easily get approved for a secured personal loan within certain period of time if able to meet certain requirements. Bankruptcy can be very stressful but finance can still be found during these hard times, you just need to know where to find it.

Requirements

Each lender has different requirements when it comes to personal loans. Due to a lack of regulation on this particular issue, lenders are free to lend to anyone and take as much risk as they want. Their only limitation is the interest rate they can charge but they usually bypass this limitation by charging additional fees and other costs.

The main requirement, as usual, is your credit score. Of course you will have a low credit score after bankruptcy. The question is, however, how low? If bankruptcy was your last delinquency, then, your credit score must have increased over some time and if there were not too many delinquencies before bankruptcy, perhaps you can convince lenders that bankruptcy was due to unfortunate events and not because of your poor credit behavior.

Your credit history is another important variable related to your credit score. The credit history that really matters is the months following your bankruptcy. Your credit report must show no late payments, nor missed payments and no other delinquencies whatsoever during those months. This will greatly increase your possibilities of getting finance after bankruptcy.

Collateral

Since bankruptcy implies a lot of risk, the key to obtaining finance is to reduce that risk. One of the best ways to do so is to offer some kind of security by providing an asset as collateral. A house, apartment, a car or any other vehicle can be used to secure your loan and increase your chances of getting approved. Obviously, the asset has to be worthy enough. Its value should exceed significantly the amount of money requested.

Even though the loan will be secured, the interest rate charged will be considerably higher, this is due to the fact that collateral will only reduce the risk but the risk for the lender will still be higher. A past bankruptcy shows you have defaulted before and that scares lenders away. Thus, the interest rate, which is based on the risk, will be higher under these conditions than under regular conditions.

Outstanding Debt

Since not all debts are discharged after bankruptcy, your debt level will also be a variable to take into account when a lender considers to provide finance or not. If you still have outstanding loans and high amounts of debt, chances are that you will not get approved unless you can show a steady income and provide a very valuable asset as collateral that is free from mortgages and other limitations.

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Bankruptcy Debt

Debt Consolidation Vs. Bankruptcy

Author: Jason

Although many people explore both these options when seeking solutions to their debt problems, the two are very different things. Further, since the passing of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which established a means test that has to be taken into account before a bankruptcy court will accept a petition, most people that can afford debt consolidation are not qualified to file for Chapter 7 bankruptcy relief. In so many words, if debt consolidation is an option for you, then bankruptcy Chapter 7 bankruptcy probably is not, although this may not be the case with Chapter 13 bankruptcy.

Debt consolidation usually takes one of two forms: a hard money loan or balance transfers. A hard money loan is essentially a new loan that you take out that is enough to cover all of your existing debts that you then repay back to the lender through agreed upon terms. A debt consolidation loan can make life much easier, can lead to lower interest rates, and may include some debt settlement done by the lender. However, in order to qualify you have to be in pretty good financial shape and usually you have to substantial capital, like home equity as well. This option simply is not available to most in an extremely back financial situation.

Balance transfers, where you shift all your credit card balances over to yet another card for a temporary reduction in interest rates or lower monthly minimum payments has long been recognized as slippery slope that usually does not actually fix anything. Further, now that the era of

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Bankruptcy Filing

Filing Bankruptcy Online : For A Smoother Bankruptcy Process

Author: Apurva Shree

Now days, with the wide availability of bankruptcy form processing services on Internet, filing bankruptcy online has now become easier and the good part of the story is that the process is very easy and time saving. If you understand the legal requirements associated with filing bankruptcy and you know what are the forms that you need to fill and submit in this regard, you do not even require hiring a bankruptcy attorney to help you with the procedure of filing bankruptcy.

Ways To File Bankruptcy

In fact, there are plenty of ways you can use to file court petition for bankruptcy. For example, if you can hire bankruptcy lawyers to do the job for you or you can avail the various online bankruptcy services available on Internet, or if you are a legal expert and you know the ins and outs of the various bankruptcy laws, you may choose to go for personal filing.

How Much Does Filing Bankruptcy Online Cost?

Depending upon the type of filing process you have chosen, the costs will vary. For example, filing bankruptcy online for chapter 7 bankruptcy and chapter 13 may cost you somewhere around two hundred dollars or less, depending upon the type of bankruptcy you are filing for. If your bankruptcy case is a bit complicated and you know that you are not capable enough to defend your bankruptcy claims yourself successfully, it is always recommended to avail the valuable services of an expert bankruptcy attorney. They will never let you down. These days, even the bankruptcy lawyers choose to go for filing bankruptcy online, as it makes the process much easier and most importantly, it saves a lot of time both for the debtor and the bankruptcy attorney, but of course, it costs a little more.

Advantages Of Filing Bankruptcy Online

If you do not want to hire a bankruptcy attorney, it will be wiser for you to take advantage of the various online bankruptcy services. They are known as online bankruptcy form processors. They will help you in several ways. For example, when you submit your specific bankruptcy case to them along with all the relevant information, they will suggest you the right type of bankruptcy that you should claim for and they will provide you the right bankruptcy forms to fill. Once you submit those forms, they will review all the information you provided with the forms. If some information is missing, the online bankruptcy forms processor will inform you regarding the same and will ask you to submit the missing information.

Once they approve everything, on your request, they will even file a court petition for bankruptcy for you. This way, we can see that filing bankruptcy online will take away the pain out of the complicated proceedings.

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Legal Bankruptcy

Dish Network vs. AT&T U-Verse

Author: Frank Bilota

Anyone who's been a beta tester for a software product can attest to the pain involved with that, but then again, you usually receive the software for free. Do you really want to pay good money for something that is still being tweaked?

Perhaps all a consumer needs to know about the U-verse product is that while AT&T has advertising it, they have also been selling DIRECTV and in fact, once were partnered with Dish Network and sold both quite aggressively in markets where U-verse was fully deployed.

Admittedly both U-verse and Dish Network are very reliable services, so customers cannot go wrong with either service there, but there are major differences concerning price, programming options and value. Of course in areas where U-verse is available, AT&T will want you to buy more than one of their services, so we will attempt to compare apples with apples and compare the television options.

AT&T U-verse offers a Family package and a U100 package; curiously both are $49 per month. The Family package has 70-channels and the U100 has 130 channels. Anyone else seeing the obvious problem with both packages being priced the same?

Dish Network offers three packages with considerably more value. The first being their Classic Bronze package with over 120-channels and priced regularly at $39.99, and in promotion for $24.99 for the first year. Next is the Classic Silver package with over 220-channels, priced regularly at $52.99 and, also in promotion for $37.99 for the first year. The most overwhelming value is the Classic Gold package with more than 260-channels double the amount U-verse would provide for just $13-more a month, regularly $62.99 - yes - you guessed it, also in promotion for $47.99 for the first year. AT&T U-verse can provide a package with up to 230-channels, but pricing on this U-200 package starts at $64.00 per month.

AT&T's best programming package is the U-450, a package containing nearly 400-channels, including premium movie channel packs for HBO and Cinemax, and a sports package that contains roughly 20-regional sports networks from around the country. This package is regularly $109.00 per month.

Both AT&T U-verse and Dish Network offer free installation and free equipment for their customers, however Dish Network includes their CNET Editors Choice Award Winning ViP722 Duo HD-DVR among its free offerings. Both U-verse and Dish Network charge just $10 per month for HD-programming, with U-verse offering 110-HD channels and Dish Network coming in at 140-HD channels. DVR service is a bit tilted in Dish Network's favor, award-winning receivers and a storage capacity advantage of 350-hours of standard-definition and 55-hours of high-definition programming, compared to AT&T's 233-hours SD and 65-hours HD.

Although AT&T U-verse is now positioned as a solid alternative to your local cable company, its availability is still quite limited. Still, if you are fortunate to live in an area where it is available, it is very hard to ignore the technology, programming and cost advantages of Dish Network, where value is the name of the game for consumers.

By: Frank Bilotta

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