Blog about Filing Bankruptcy in Washington DC and Maryland

Can I Get a Loan After Filing for Bankruptcy?

After filing for bankruptcy, you may notice that it is difficult to get a loan. Bankruptcy can seriously hurt you credit score. It stays on your credit report for up to 10 years from the date you file. However, just because you have a bankruptcy on your record does not mean that you are shut out of the market for an entire decade. As a matter of fact, during those 10 years, it is possible to build a decent credit score while you wait for the bankruptcy to fall off your credit report. You may even be able to build your credit up to a respectable level within three to five years. That might, however, be easier said than done. Here are some tidbits of advice to help you repair your credit enough to obtain a loan after bankruptcy. Follow your credit score closely. Once the bankruptcy is complete, request…
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Setting Financial Goals for the New Year

The New Year is upon us, Washington D.C.! As everyone decides on what their New Year’s resolution is going to be, consider taking a long look at your finances. Some of the major financial goals people focus on at the beginning of a new year are personal finances, saving and investing. If you are seeking financial independence, you should follow these tips to ring in the new year the right way. It starts with assessing where you are currently. Before you can commit to any new goals, you need to figure out what your baseline is. Look at your savings, debts and investments. While this may seem like a stressful thing to do at the beginning of a new year, it is important to do so that you can set realistic financial goals for 2018. Budgeting is key! Now that you have an idea of where you currently stand, you…
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What Should I Do Before Filing for Bankruptcy?

There is a lot to consider if you are thinking about filing for bankruptcy. The first determination you should make is that bankruptcy is the best way for you to deal with your financial problems. Bankruptcy is an incredibly valuable tool to help you dig yourself out of a financial hole, but every case is different. As such, you will want to go through your finances with someone who is familiar with the field of bankruptcy – your attorney. Before you file, there are some things you have to do first. Within the 180 days prior to your bankruptcy filing, you must receive budget and credit counseling from an approved credit counseling agency. During this counseling, you and your counselor will go over all possible options for your finances and budgeting. Once you complete the counseling, you will receive a certificate stating that you received the counseling. You need this…
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