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April 2012 Archives

Tips for rebuilding your credit after filing for bankruptcy

It is no secret that filing for bankruptcy will have a negative impact on your credit score. Some reports say your credit score can be dinged by as much as 220 points for the seven years it is required to stay on your credit report. But the many benefits of filing for a Chapter 7 or Chapter 13 bankruptcy can far out weight the negative impact on your credit score, and many banks are now starting to realize this.

Former NFL star files for Chapter 7 bankruptcy

Denver Broncos fans might be interested to learn that the economy is tight for many, including former NFL defensive tackle Warren Sapp who owes more than $6.7 million to various creditors, as well as back child support and alimony payments. Apparently Warren Sapp can't tackle his debts and, according to court records, he filed for Chapter 7 bankruptcy protection last month. The former NFL veteran has $6.45 million in assets, which includes 240 pairs of Jordan athletic shoes valued at $6,500.