Foreclosure is a horrible experience for most people; you and your family can lose your home. Your credit score will be severely impacted; also your family will have to find a new place to live. The loss of money in an escrow account might also happen. Escrow accounts are special accounts that lenders use to...Read More
Doing something new or different can be scary. You might not know what to expect, which can make you imagine the worst. If you are preparing for a meeting of the creditors or if you are taking your bankruptcy case to court, you naturally might feel nervous and unsure of how to act. The good...Read More
A Missouri jury ordered a debt buyer to pay nearly $83 million to a Kansas City woman it pursued for a $1,000 credit card bill she didn’t owe, NPR affiliate KCUR reports. The jury found Portfolio Recovery Associates LLC guilty of violating the Fair Debt Collection Practices Act, for which it will pay $250,000 in...Read More
Have you tackled your wallet cleaning project, and are now looking for a bigger challenge? Consider cleaning out your home! When you’re living on a budget, every dollar counts! To make a little extra cash, you might want to consider partaking in the spring cleaning ritual and selling some of your old possessions. As the...Read More
A sure-fire way to get into debt quickly is to start accumulating interest on some type of balance. Whether you’re dealing with a student loan, a mortgage, or a credit card, interest is the kiss of death for those trying to get out of debt and stay out of debt. It can be very difficult...Read More
My name is Theresa, and I think it is vitally important that my clients and colleagues know who I am and what I have been through on my own financial journey… During my college and law school years I was affected by medical issues and did not have insurance. I took student loans to pay for...Read More
Loss mitigation is a tool that lenders have used for decades, with exponential growth since late 2006. This was a result of the huge increase in foreclosures across the US. While previously only a small department within the financial system, loss mitigation grew as a result of the near collapse of the mortgage industry due...Read More
One of the strengths of mediation is that there isn’t a one size fits all solution to the foreclosure crisis in America today. Many commentators have suggested that all foreclosure mediation programs should deliver for vigorous outreach to borrowers. This could result in much higher rates of participation than in programs with limited outreach. Also, many lawyers...Read More
One of the basic principles of tax laws is if you owe a debt to someone else and they forgive that debt, the forgiven amount may be taxable. As a result of the Mortgage Forgiveness Debt Relief Act of 2007, the statisticall or texty few homeowners who have had mortgage debt forgiven may not owe...Read More
Unemployment is a common reason to file for bankruptcy in the United States. If you are accumulating debt because you do not have a source of income, bankruptcy can help your situation. However, depending on what type of bankruptcy you file for, your unemployment might still hinder your chance to erase your debt and start...Read More
