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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
 
1 week Seek counseling
 
Counseling must be taken within six months of filing at a government-approved nonprofit credit counseling agency:
  The cost is estimated at $50, but the fee can be waived depending on the debtor's circumstances.
  Delivered by phone, Internet or in person.
  Can take as long as 90 minutes.
Certificate is issued upon completion.
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