Filing for personal bankruptcy means taking a pretty significant hit to one's credit score. It is quite common for people to see a drop of 200 points, sometimes even more than that, when they initially file. Their score will eventually recover but it will take years...
Month: May 2023
What if someone doesn’t qualify for Chapter 7?
Bankruptcy is a useful tool for many people, but that doesn’t mean that everyone qualifies. Those who are trying to use Chapter 7 bankruptcy have to take a means test first. This essentially measures their assets and income to see if they can actually use Chapter 7...
Using a credit card after bankruptcy
Many people who go through bankruptcy will swear off of credit cards. They may even go start so far as to cut up the ones that they own. They blame those credit cards and their high interest rates for the debt troubles that they’re having. They don’t want to get into...
4 of the most common reasons people file for bankruptcy
Bankruptcy allows those who are struggling with insurmountable personal debt to wipe their slate clean (or, at least, cleaner). While some people are judgmental about bankruptcy, the truth is that even those who are very responsible and successful professionals might...
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The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.