Tuesday, November 6, 2012

There is Life after bankruptcy and it includes a new car!

 According to the Federal Judicial Caseload Statistics, there are literally millions of people filing bankruptcy each year. The statistics reveal that Chapter 7 is by far the most frequently filed Chapter, with 958,634 non-business consumer filings for the period ending December 31, 2011. The reason for this is that a Chapter 7 bankruptcy releases individual debtors from personal liability for most debts and prevents the creditors owed those debts from taking any collection actions against the debtor. 11 U.S.C  727

 to read more about life after bankruptcy go to:

http://www.thenichereport.com/articles/there-is-life-after-bankruptcy/?utm_source=twitterfeed&utm_medium=twitter

1 comment:

  1. I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.

    CFS Mortgage http://www.cfsflex.com

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