Pitfalls You May Not Know About Credit After Bankruptcy
An editorial in the New York Times applauds Congress for finally trying to rein in predatory credit practices. Congress says it will tackle credit card company policies that many consumers don’t know about.
Especially after a bankruptcy, consumers need to understand the fine print in their credit card agreements. Post-bankruptcy debtor education can teach you how to protect yourself while Congress tries to stamp out these credit company tricks.
The Times editorial points out some common credit tricks: Skyrocketing interest rates due to a late payment on not just your credit card bill, but any bill, even your utility bill; Marketing vast amounts of revolving credit to teenagers entering college.
Other tricks that need be addressed include interest rates for payday loans averaging three to five hundred percent. Bills in Congress may cap payday interest rates for military personnel; but why shouldn’t everyone be protected from these immoral deals?
I have already filed bankruptcy and did it on my own. Now they want to take my car. I don't have enough income to qualify for a new loan. what can I do. I have petioned the court to dismiss the bankruptcy. I can afford the payments on my car now but they still want to take it. What can I do?
Can a landlord bankrupt on deposits from tenants? Chapter 7 in the state of Washington? She filed for chapter 7 before we went to court for her to return my deposit and the court ordered her to pay this plus court fees. She has thirty days to pay this.