Many debt settlement firms claim that they can get 30 cents on the dollar. But why take a chance for a voluntary settlement? With a bankruptcy, under federal law, in most cases you will result in you paying nothing. If the debt settlement firm makes claims that sound too good to be true, they usually are. Debt settlement does not come with the protection of the legal system like bankruptcy… Continue reading

When suffering from debt, most folks look for an option that will be the least painful—and that is often bankruptcy. But why do people choose to file themselves? Some think it will save them money while others think that it may make it easier to keep secret. Are they right?

While the bankruptcy paperwork may seem simple enough, there are quite a few mistakes that can be made when… Continue reading

As the recession continues, the desperation of Americans in debt has only gotten worse. That means that many are considering any option possible to relieve their debt. While I see many taking the safest, most reliable route with bankruptcy, some still are looking into the uncertain world of debt settlement. It is hard to wade through the information given to you by debt settlement companies—especially when so many of… Continue reading

The FDIC issued a warning to “beware of foreclosure rescue and loan modification scams.” The subtitle reads, “If it’s too good to be true, it probably is.” And, just like debt settlement, the truth begins to surface about debt relief. With rising rates of loan default and foreclosure, the amount of scams targeted at borrowers under financial stress has sky rocketed.

Many different kinds of scams have… Continue reading

The act is coming in waves—with the first having already started almost a month ago. The Credit Card Accountability, Responsibility, and Disclosure Act attempts to keep credit card companies from using those all too familiar tactics that credit card companies use to keep us paying the premium rates.

Credit card companies are limited on when they can raise their rates. It can only happen after a promotional rate… Continue reading

I’m sure you get tons of credit card offers in the mail just like me. They all come with tempting offers of low interest rates and no annual fees. I even am convinced to take some of them out of the envelope and read them. Ultimately, I decide against most of them. If you are having trouble “just saying no,” here are some suggestions you might want to think about… Continue reading

An article that I read addresses a concern I’ve tried to address for years: Foreclosure doesn’t just affect you, it affects everyone around you. The most heart wrenching part is that it affects our innocent children. We typically think of divorce or family quarrels as the hardest for children to understand but it isn’t just our marriage problems that are causing trouble for the kids in America.

Experts… Continue reading

If you have ever searched for a lawyer, I’m sure you’ve thumbed (or clicked) through the classic lawyer advertisements. Most of them have some headline like, “Cheap Attorney Ready to Help You,” or, “Low Cost Legal Advice.” While that may catch your eye, you may be missing some facts.

First of all, you get what you pay for. If you find an attorney who says he is the cheapest… Continue reading

There has been little improvement in the foreclosure crisis.

Foreclosures are now at a record high—and expected to hit 2 million this year. It seems that companies like Bank of America and JP Morgan Chase are not prepared to handle it either. Bank of America, the largest lender in the US, had to create a special team of 8,000 people in their call center who are exclusively focused… Continue reading

In Kansas City, Missouri, a man crashed into the side of his girlfriend’s house Saturday night. As it turns out, he was running from the repo man. The repo man started to take possession of the car but the owner jumped into the car and started driving frantically, ending in the crash. No one was injured in the crash but the driver was arrested.

Wow. This story… Continue reading