What is the difference between Chapter 13 and Chapter 7 bankruptcies?
In a Chapter 7 bankruptcy, all debts are discharged. In a Chapter 13, the filer must make a monthly payment to a bankruptcy court, which in turn pays the creditors. Q: What is a credit score? A: They are the three-digit number that lenders use to assess the credit risk of a potential borrower. They range from 300 to 850 and are based on information from the borrower’s credit reports, payment history, number of inquiries regarding their credit and longevity of their accounts. Q: Can a credit card company increase its interest rate from 0% to 22%? A: Yes. If your credit report indicates delinquency or you are late on a payment, your rate can rise to 22%. Q: I’m getting calls from several collection agencies. How can I stop them? A: Write each agency a letter stating that under the Fair Debt Collection Practices Act, you request all further phone calls cease. You also may fax your written requests. The agency is obligated to cease the calls after receiving your letter. Q: My salary was ga
