1. What to do if your identity is stolen
Report the theft to the three major credit bureaus. They will put a fraud alert on your account.
Report theft to law enforcement
Contact your bank or other organizations you have credit accounts with
Call the FTC

2. The truth about Chapter 7 & Chapter 13.
Bankruptcy
The truth about Chapter 7 & Chapter 13.

3. What is Bankruptcy?
Bankruptcy offers an individual or business a chance to start fresh by forgiving debts that simply can't be paid.
While offering creditors a chance to obtain some measure of repayment based on what assets are available.
Both parties meeting half way!
Bankruptcy commercials the students may be familiar with:
Peter Francis Geraci

4. Students follow along on handout

5. Chapter 7 Bankruptcy
Chapter 7 is designed to wipe out unsecured debts like:
credit cards
medical bills
payday loans
parking tickets
personal loans
Chapter 7 can be a relatively quick and painless process. The average Chapter 7 case is over in as little as four months. It stays on your credit for 10 years.

6. Who Can File for Chapter 7 Bankruptcy?
The majority of Chapter 7 bankruptcy filers are suffering from credit card debt, medical bills or payday loans.
You need to determine if you're eligible to file for Chapter 7 using:
the means test, which compares your income to your state's median income.
Get a Chapter 7 case evaluation with a bankruptcy lawyer.

7. Using Collateral to pay off debt
Take Away
Cannot Take Away
Expensive musical instruments
Collections: stamps, coins, etc.
Family heirlooms
Cash, bank accounts, stocks, bonds, other investments
A second car or truck
A second home or vacation home
Motor vehicle
Necessary clothing
Necessary household goods or furniture
Household appliances
Jewelry (to a certain value)
Pensions
Equity in a home
Tools for a debtors trade
Unpaid but earned wages
Public benefits (Social security, unemployment compensation, etc.)
Damages for personal injury

8. Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a reorganization of debts designed to help property owners keep their:
Homes
Cars
Other valuable assets while getting a handle on debts
By filing Chapter 13, you may be able to stop foreclosure, repossession, wage garnishment and debt lawsuits, and significantly reduce or eliminate credit card debt.

9. Who Can File for Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is not for everyone. In order to qualify for Chapter 13 bankruptcy, a debtor must:
Have a regular source of income from which to make pre-determined payments
Have enough disposable income to make regular payments after covering current necessary living expenses

10. Information Credit Card Companies Don’t Want You to Know.
How does filing for Bankruptcy help people?
Personal bankruptcy was designed to:
Eliminate or reduce debt
Stop foreclosure or repossession
Stop creditor harassment
Give people the breathing room they deserve

11. Life After Bankruptcy…
Bankruptcy filing will likely stay on your credit report for up to 10 years (typically 7 years if you file under Chapter 13 bankruptcy).
Tips:
Maintain a job
Pay your bills
Keep a bank balance

12. Life After Bankruptcy May be tough to get:
Loan
Low-Interest Credit Cards
Keep on top of monthly payments for your rent, mortgage and utility bills, you’ll be strengthening your credit report.
If you keep those habits up, you’ll likely see your credit score rise over time