I highly recommend this great article in the New York Times about bankruptcy and the elderly. Everyone should understand the issues related to protecting your own or your parents’ hard earned retirement funds when faced with a financial crisis. Related Post Reverse Mortgages & Their Pitfalls
Consumers have protections from their creditors, but consumers also have liability to their creditors. Knowing your rights and obligations is the best way to make informed decisions.
According to an article in the New York Times, Bank of America and JP Morgan Chase are finally agreeing to properly identify debts that were discharged in bankruptcy. Related Post Big Banks Plead Guilty to Criminal Charges Citigroup to Pay Fannie Mae $968M for Loans What is a Zombie Debt? Banks Are Subverting Bankru… New […]
Ten years after the passage of the “new” bankruptcy law we find a new class of Americans “the permanently insolvent”. You won’t find reference to this group in any financial magazine. But, hundreds of thousands of Americans are in a position of being hounded mercilessly by debt collectors, but unable to afford to file for […]
Yet another loan workout or modification scam. I am disgusted by the number of calls we receive every week detailing a company or lawyer who takes someone’s hard earned money and fails to deliver on their promise to modify the home mortgage.
I just received an e-mail from a gentleman who filed a chapter 13 bankruptcy, but later decided to dismiss his bankruptcy. He was wondering if the Bankruptcy Court could instruct the credit reporting agency to remove the bankruptcy from his credit report. Unfortunately, the answer is an absolute and resounding “NO”. A bankruptcy will stay […]
Housing counselors can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Advice from housing counselors can be provided at little or no cost to consumers. Related Post New Mortgage Lending Rules – CFPB Protecting… CFPB vs Morgan Drexen – fraudulent debt R… Credit Card Fees Face New Scrutiny CFPB Takes Action […]