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Many people who have filed bankruptcy in the past apply for credit the wrong way. They fill out a credit application and hope for the best. Best case, they probably end up paying a lot more in interest and finance charges - hundreds or even thousands of dollars more, depending on what they're buying. That said, in this article we are going to talk about the RIGHT way to apply for credit and loans. So what is it? Well there are three steps: 1) Learn how to increase your credit score 2) Know the credit approval process 3) Know how to apply for credit and
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Congress recently passed the most sweeping bankruptcy legislation in more than twenty five years. The Bankruptcy Abuse prevention and Consumer Protection Act was written to make it harder for most personal bankruptcy filers to have their debt swept away through a Chapter 7 filing. The new law will require that potential bankruptcy filers pass a "means test" and most will not qualify for the Chapter 7 filing. Instead, they will have to file under Chapter 13, which requires a court-defined repayment schedule of up to five years. This legislation, considered by its detractors to be a "wet, sloppy kiss" to the credit card companies, has many people justifiably concerned
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