A claim is a term used to describe the outstanding debt a person owes to a specific creditor. In bankruptcy, a creditor must file their claim first in order to receive payment. There are two types of claims that a creditor can file – secured and unsecured. The main...
Mortgage
The Advantages and Disadvantages of Filing for Bankruptcy
When faced with a mountain of debt, failing to make payments on time, you might think about filing for bankruptcy. Filing for bankruptcy can affect your finances for many years to come. However, for many people, it is a good idea because filing provides some benefits....
Can You Get a Mortgage After Bankruptcy?
When a consumer is overwhelmed with debt and can’t find a way to pay their creditors, they often file for bankruptcy. Filing for bankruptcy can give you some relief from debts and stop collection activities such as repossession and lawsuits. However, bankruptcy can...