What to Do after You Consolidate Your Debts

Consolidating debt is the process of combining high-interest debts from student loans, credit cards, or car loans with a single lender. Debt consolidation may reduce your interest rate, and it could also result in a lower monthly payment on outstanding debts.

How to Refile Bankruptcy After Dismissal

Filing for bankruptcy protection is a complicated and often overwhelming process. To then hear that your claim is dismissed is not only frustrating, it can induce anxiety knowing that the pressure of your debts has not been resolved and that it’s only a matter of time before the collectors start calling again.

Types of Bankruptcy Claims

One of the key phases of filing for bankruptcy is taking a thorough inventory of your financial status. This includes your income, the assets you own (including currently-owned or recently-transferred property of yours), your monthly budget/living costs, and of course, a detailed accounting of the debts you owe.

Main Categories of Debt

Despite the generally negative connotation of debt, there are important benefits to carrying debt and eventually paying it off. Perhaps most obviously, taking on debt and making monthly payments in full helps you build good credit, allowing you to secure the best interest rates and/or highest limits on future credit cards, loan applications, car purchases, and home mortgages.