Zombie Debt Collectors Zombie debt collectors are not the deceased bodies of collectors that attack you but are collectors who attempt to collect debts that are long gone. They purchase the rights to your debt from creditors for cheap and will call debtors and attempt to coerce a payment. They can call at any time [...]

How Helpful Are Debt Settlement Companies? Debt Settlement Agencies are companies that will communicate with a debtors creditors in order to reduce one’s debts. These companies reduce the need for the creditor and the debtor to interact which is alluring to debtors who wish to end phone calls from their creditors. These companies often quote [...]

It depends. If you are current on your mortgage and all of your other bills a short sale is probably the better option. It will drop your FICO (credit score) score 85- 160 points. You may be able to purchase a new home fairly soon after the sale – BUT it may be difficult to [...]

Can I keep my house or car in a bankruptcy? Yes – for most people.  Most people that file a chapter 7 or 13 bankruptcy are able to keep their house or car through the bankruptcy process.  Any competent bankruptcy attorney will be able to tell you if you will be able to retain those items in an initial consultation.  Equity [...]

Bankruptcy is now even more of a solution for many people than ever before.  Job loss, divorce or medical debt account for the great majority of  filings.  Chapter 7 or fresh start is the bankruptcy of choice for many people although a Chapter 13 bankruptcy can do more for those clients that need that type [...]

New Directives will make the HAMP (Home Affordable Mortgage Program) more accessible to those that need it.

Mortgage Principle Reduction Coming?

Consumer credit continues to decline.  There are two reasons for this.  The first is banks are reducing credit limits and squeezing any customer they view as possibly risky so they can reduce their risk.  The second reason is that consumers are not borrowing as much and are reducing their debt loads.  Jobs continue to contract [...]

Modifying a loan can be difficult.

New York Times                EDITORIAL As Foreclosures Surge … Published: May 3, 2009 The Obama administration sat by last week as 12 Senate Democrats joined 39 Senate Republicans to block a vote on an amendment that would have allowed bankruptcy judges to modify troubled mortgages. Related Times Topics: Foreclosures [...]