can anyone become bankrupt if they don't manage their financing correctly? its a scary thing!
does filing for bankruptcy hurt your credit score?
From corporate as well as individual perspective finances are like backbone....... if not managed well, it can cause a lot of damage.
Bankruptcy of Lehman Brothers which shook the whole world is one such example from recent times.
Yes honestly anyone can end up in this situation without wanting to. Most people who ended up filing for bankruptcy never thought they would be in this situation. For most people it is not so much that they did not manage their finances properly but that something happened that was unexpected that resulted in them getting into debt. A large portion of people were disabled, or had had a medical condition that prevented them from getting a job or reduced their income. Of course there are people who mismanaged their money and lived beyond their means. Filing for bankruptcy generally does hurt your credit score, but for most people who file their credit score is already more than likely very hurt. In some cases filing for bankruptcy can sometimes improve your credit score. There is a hub that I wrote about the effect of bankruptcy on your credit score: http://hubpages.com/hub/The-Effect-of-B … dit-Report
by GA Anderson5 years ago
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by Sharilee Swaity7 years ago
Does anyone have any experience with Rent-To-Own Agreements?My husband and I are looking into them, because we are having trouble selling our mobile home. I have been researching this topic, but I would to hear from...
by And Drewson5 years ago
Have you declared bankruptcy?Did you have to have your house foreclosed too?If so, do have any good news?
by karl4 years ago
Stockton US bankrupt, a sign of the times or just bad management?As a UK national I am interested to see how the riches nation on earth will deal with this situation. the city I live in is $5 Billion in debt and in...
by marymootoo6 years ago
Is it possible to go bankrupt and keep some of the stuff I have worked hard to get?Both me and my partner lost our jobs a while ago and altough we have jobs now we are finding hard to keep up with our payments. Has...
by richard@roofhawk3 years ago
Don,I am seeking financing for our 7- month old, start-up business. Where should I seek financing? I had a 780 credit score(s) and was in the new home and rental business for 10 years until 2007. A bankruptcy in...
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