Americans currently owe an average of $16,000 per household in credit card debt. Or, if you look at it on a national scale that equates to US$1 trillion in debt. This enormous figure represents 20% of the total national debt, a situation which has worsened dramatically since the financial crisis of 2008. Credit card debt […]
The Quickest Way to Build Credit Using a Secured Credit Card Read More »
You might not be familiar with the term “foreclosure complaint” this happens when you’ve fallen into arrears on your mortgage, and your lender is taking their first steps towards repossessing your home. There are an unfortunate number of myths circulating both online and offline about how to deal with a foreclosure complaint, many of which
Top Five Myths about Being Served with a Foreclosure Complaint Read More »
Being in debt is a source of almost constant stress for people who feel they have no means of dealing with it. If you then add in the prospect of having to file for bankruptcy, it’s simply too much for the average individual to deal with. It’s difficult to understand what it feels like to
Five Reasons Why People Avoid seeing a Bankruptcy Attorney Read More »
A loan modification is the permanent restructuring of a specific debt, typically a personal loan or mortgage. The process is the exact same regardless of what type of loan you’re having modified, but we’ll only refer to mortgages for the purpose of clarity and brevity. So, why would anyone need a loan modified? The primary
What is a Loan Modification? Read More »
It might come as a surprise to some, but errors on credit reports are remarkably common. In fact, it’s estimated that at least 10% of all credit reports contain errors of one kind or another, with the potential side effect of having a demonstrable impact on your financial standing through your FICO score. Here are
What Errors Typically Show Up in Credit Reports? Read More »
A Preferred Creditor lawsuit is the very last thing most businesses want, but they’re also not something you can predict. They’re bad news for a couple of reasons, but the main one being that one of your debtors has just filed for bankruptcy, which means you’ll need to find a way to offset that bad
Sued For Preference – What Defences Are Available? Read More »
The court system of the United States provides more than adequate protection for people or businesses who find themselves in financial distress. Fortunately, as a creditor you also have rights when it comes to claiming money owed to you. In even better news the process for actually reclaiming what’s owed to you is remarkably straightforward,
When Can I Expect to Receive a Distribution on My Proof of Claim? Read More »
In a clear-cut personal injury case you are able to clearly identify that a business was responsible for your injury e.g. a slip and fall accident, or a car accident. There are a number of situations where you might not be able to clearly prove that the other party was negligent, so you may be
Is there any other basis for personal injury besides negligence? Read More »
There are two basic choices available to a business if and when it decides to declare bankruptcy. Chapter 7 and 11 are when a business has hit a financial wall and can no longer stay operational. In filings of this type there is no exit process because the company will cease trading immediately, and investors
What Does it Mean When a Company Exits Bankruptcy? Read More »
There’s a lot of stress involved in the decision to declare bankruptcy. In fact, it may have taken you several weeks, or months, to arrive at the decision to petition the courts for bankruptcy case, so you won’t have focused too much on what comes afterwards. It is, however, very important to understand a basic
How Do I Find Out What is Happening in my Bankruptcy Case? Read More »