Credit is a word derived from the Latin credititus and means to build confidence. Credit is an economic action by which a person or institution provides money, goods, or serviceids with the expectation of future payment.
Sure, you can buy a home again if you want. You will need a loan from the federal department of housing in order to complete your purchase. After 2 years of the declaration of bankruptcy the approval is very feasible. If the bankruptcy was due to medical debts you may request to purchase the home only a year after bankruptcy.
The bankruptcy process is a mechanism of laws developed in federal court with the purpose of protecting and assisting individuals or businesses in solving their payment disputes with creditors. filing bankruptcy stops creditors from seeking to collect debts from you during the bankruptcy process.
The cost depends on how complex the case will be. However, resolving your financial issues today will very likely result in a better financial future for you and your family.
Bankruptcy discharges debts, making possible a fresh financial start. It also stops foreclosure on your property and prevents the repossession of your car or other assets you may have. In addition, it prevents termination of utility and restores it.
Most probably you will only have to go to a meeting with creditors in order to meet them and the bankruptcy trustee. In the case that you need to dispute a debt, then you might have to appear before a judge.
No, they will not be contacted.