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Bankruptcy and Credit Repair Help: Loan Defaults

Defaulting on any loan is never good and reflects negatively on an individual’s ability to re-pay debt, but not all lenders report defaulting loans or state regulations stop them from doing so. However, debtors have to know that there are many penalties to defaulting on certain loans, such as cash advance payday loans and that these type loans should be taken seriously in order to avoid further costs, headaches and poor credit history.

Would you like to know more about loan defaults and filing for bankruptcy? Our bankruptcy lawyers can help you. Contact a bankruptcy law attorney in your area today to learn more about the legal aspects surrounding a bankruptcy filing.

It’s possible to default on any type of loan, including but not limited to:

• Home equity loans
• Mortgages
• Auto loans
• Payday loans
• Student loans
• Credit cards

If you have defaulted on a business loan, odds are it's only a small part of larger financial issues. Don't just ignore the problem and wait for more bad news. Make a game plan to deal with the problem right away. Filing for bankruptcy may or may not be the best option for you. If bankruptcy is ideal, our bankruptcy law attorneys can walk you through the process and help you decide which type of bankruptcy is ideal and then get everything going.

If it turns out that bankruptcy is not the ideal way to deal with your loan defaults, or if you really prefer to avoid bankruptcy if you can, our bankruptcy law attorneys can help you explore the other options that may be available to you and the alternatives to bankruptcy.

Do you have legal questions regarding a loan default and bankruptcy? Our bankruptcy lawyers can help you. Contact a bankruptcy law attorney in your area today to get your legal questions answered today.

Did you know?
If you have defaulted on payments involving real property, you may be able to accomplish something similar with something known as a "deed in lieu of foreclosure.”
In this type of foreclosure, you deed any interest that you may have in the real estate over to the financial institution that you’re borrowing from who already has a mortgage or deed of trust on the real estate.