Why Lenders Want to Do Business After Bankruptcy A HOT COMMODITY
2. You’re locked in for eight years. In almost any business, the best customers are the ones you know will stick around for a long time. This applies to lending organizations, who would like nothing better than to only lend money to people who will have no choice but to spend the next several years paying it back. So it’s no wonder lenders extend offers to people who have just gotten out of a bankruptcy. After you file for bankruptcy, you cannot file again for another eight years. Lenders know you aren’t going anywhere and will happily give you money with the assurance that they don’t have to worry about another bankruptcy wiping away your debts for the next eight years. If you are thinking about filing for bankruptcy but are worried about not being able to rebuild your credit, rest assured that lenders will give you plenty of opportunities to improve your
When filing for bankruptcy, many people worry about their credit — mainly, how they will get any credit with a bankruptcy on their record. Loans and credit cards have become so cemented in our lives, people can’t imagine how they’ll survive when lenders start to turn them down after a bankruptcy. But the reality is a lot of lenders seek out individuals who have just gotten out of a bankruptcy case for two big reasons. 1. Your outstanding debt is gone. After a bankruptcy, you may not have good credit, but you also don’t have much outstanding debt. Almost all of your debt has been wiped away, and your debt-to-income ratio looks good. This is great news to a lender because it means your income will go to paying them back, rather than competing with a bunch of other debts.
score — at higher interest rates, of course. But there are more immediate concerns you need to consider when filing for bankruptcy. An experienced bankruptcy attorney can help you navigate this complicated area. Give Matthew Dunaway a call at 205-705-3590 and get the answers to your pressing questions.
Summer Grilled Halibut Recipe of the Month
Good News
If you’re tired of grilling hamburgers at this point in the summer, try using your grill for something a little different. This easy halibut recipe is a great change of pace.
Proverbs 3:5-6 Trust in the Lord with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths.
Ingredients • 4 boneless, skinless halibut fillets, about 5 ounces each • 1/4 cup olive oil, plus extra for drizzling • 1 lemon Instructions 1. Lightly oil grill grates and heat grill to medium. 2. Grate 1 teaspoon lemon zest onto halibut fillets. Drizzle with olive oil and season with salt and pepper. 3. Grill halibut, turning just once, for about 5 minutes on each side.
• 2 pounds mixed tomatoes, sliced • 1/2 cup hearts of palm, drained • Basil leaves, for garnish • Kosher salt and black pepper, to taste
4. In a mixing bowl, combine tomatoes, hearts of palm, juice from lemon, and oil. Season with salt and pepper. 5. Garnish salad with basil. Spoon salad over grilled halibut. Serve.
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Inspired by Bon Appetit magazine
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