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Debt Management 2006

Bad credit

  When your credit rating is in a deep hole it's tough to get a good foothold.
A bankruptcy timeline
What happens before, during and after bankruptcy
Bankruptcy Timeline
Warning! Bankruptcy approaching Alert! Bankruptcy dead ahead Cut back Prepare Seek counseling Seek an attorney File bankruptcy Personal financial course Finance a vehicle 341 meeting Chapter 7: Discharge FHA-insured mortgage Unsecured credit card Purchase home FHA-insured mortgage Chapter 13: Discharge Drops off credit report Drops off credit report
 
6 months Warning! Bankruptcy approaching
 
You have no, or inadequate, health insurance.
You have two or more credit cards with outstanding balances.
You're charging more than you can pay off.
You do not have an emergency fund.
You're paying the minimum on debts.
You have a heavy student loan debt.
You're not discussing finances with spouse/partner.
You've been turned down for credit or a loan.
You're excessively using home equity loans.
 
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