Bankruptcy

  • Bankruptcy and Credit

    • October 19, 2017
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    The amount of consumers that file bankruptcy each year continue to decline since new laws went into effect in 2005 tightening the requirements for a consumer to be able to file. The numbers that still do file, however, are a bit staggering. In 2016 there were 800,000 bankruptcy filings. Statistics show that 60% of bankruptcies

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  • How Public Records End Up on a Credit Report

    • May 16, 2016
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
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    There are three kinds of public records that can appear on credit reports: Bankruptcy Chapter 13 and Chapter 7, state and federal tax liens and civil judgments. However unlike creditors who are data furnishers like credit cards, mortgage companies, etc., courts do not, in most cases, actually furnish the information directly to the credit bureaus.

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  • Why Doesn’t a Mortgage Show on a Credit Report After Bankruptcy?

    • March 3, 2016
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
    No Comments

    There’s no doubt that having a mortgage on your credit report can be a big help to your credit scores. However if you file bankruptcy you may notice that your mortgage is no longer reporting or at least no longer reporting your monthly payments. This is even if you have continued to make payments on

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  • Banks Step Up to Provide Relief to Bankrupt Consumers

    • May 14, 2015
    • Posted by: Joel Firestone (G-Net Consulting)
    • Category: News
    No Comments

    Bank of America and JPMorgan Chase announced this week that they will make changes to how they report debt that was included in a bankruptcy. The change is set to occur within the next three months. This change comes from lawsuits filed in Federal Bankruptcy court against these two banks along with Citigroup and Synchrony

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