You may think that
after bankruptcy you’ll never be able to buy a house or a new car. That simply is not true. Bankruptcy
works to get rid of your debts, which improves your debt-to-income
ratio, which is one major component lenders evaluate when deciding
what interest rate to offer. There are many mortgage programs
available to consumers after bankruptcy, in fact, there are programs
with no “seasoning” required whatsoever. This means the possibility of qualifying for a mortgage
immediately following the discharge of your case. Post-bankruptcy
lending is a fairly specialized area, but McFarlin & Geurts, LLP has excellent contacts in the industry and
can put you in contact with reputable professionals to take care
of your post-bankruptcy financing needs.
If you need advice on how to get a loan after bankruptcy, contact a Lawyer who can help with how to get a loan after bankruptcy and start to rebuild your credit today.
Unlawful
reporting of balance due after bankruptcy:
Unfortunately, some
creditors occasionally continue to report an outstanding balance
on credit reports after bankruptcy. This practice is unlawful
and is a violation of the bankruptcy discharge injunction. It
is best to send creditors a certified letter notifying them (as
well as all three credit bureaus) of the bankruptcy formally
with a copy of the discharge and nicely ask them to change the
item to a zero balance.
If they choose to
ignore the letters, and continue to report an outstanding balance,
they have violated federal law and McFarlin & Geurts, LLP will sue creditors to enforce the Bankruptcy Discharge
Injunction and the Fair Credit Reporting Act (if applicable).
We provide sample letters for clients to send to creditors after
bankruptcy.
If
you need advice on how to get a loan after bankruptcy, contact a Lawyer who can help with how to get a loan after bankruptcy and start to rebuild your credit today.
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