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Debt Articles

What to Do When You Can’t Pay the Mortgage

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If you’re having trouble making your house payments, the first thing to know is that you are not alone. Home mortgage defaults are at an all-time high across America. This is good news for you, because it means that mortgage lenders are familiar with people in default on their home loans and often have established programs and policies to deal ... Read More »

    John McCain Has Bad Credit Card Rates

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    So there I was on opensecrets.org and looking at the financial disclosure form for presidential candidate Senator John S. McCain, III, and right there on page 27, there it was. John and Cindy McCain have a joint credit card with Chase bank with a balance of between $10,000 to $15,000 and they are paying 25.99% on it. That hit me ... Read More »

      How to Buy a House With Marks on Your Credit

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      If you have any negative marks on your credit such as a late payment, default, repossession, lien, judgment or bankruptcy you probably think you’ll never be able to buy a house. Not so. If you have a steady and secure income that is high enough so you can afford to make the monthly payments, and you have a sufficient sum ... Read More »

        How to Buy a Car With Marks on Your Credit and Not Get Taken for a Ride

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        If you have any negative marks on your credit such as a late payment, default, repossession, foreclosure, lien, judgment or bankruptcy you probably think you’ll have a hard time buying a car (or truck or van). Think again. There are many options available to you, but you’ve got to understand the advantages and disadvantages of each. Consider the following: You ... Read More »

          Ohio AG Goes after Barclays Capital Real Estate, HomeEq Services for Unfair Loan Modifications

          The Ohio Attorney general has gone after Barclays Capital Real Estate operating under HomeEQ Servicing for several issues but one of them was an attempt to get Ohio consumers seeking loan modifications to sign agreements that included provisions for the borrower to: Waive all defenses, claims or offsets with respect to the unpaid principal balance as adjusted by HomeEQ to ... Read More »

            First American Debt Solutions Apparently Lying to Debtors to Scare Them

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            Bankruptcy attorney Dan Nunley in Oklahoma gets the credit for breaking this story. “It seems that a debt settlement company by the name of First American Debt Solutions (FADS) of Deerfield Beach, Florida, is mailing solicitation letters to Chapter 13 bankruptcy debtors across the USA. In the letter, FADS blatantly lies to the debtors by telling them that their Chapter ... Read More »

              How a Secured Credit Card Saved Me After Bankruptcy

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              In 1990, after my bankruptcy, I wanted to avoid the use of credit. For me credit was pain because I believed that without credit I would never have found myself bankrupt. Rational or not, that’s how I felt. It wasn’t too long after that I realized that if I was going to be able to do the things I needed ... Read More »

                How the Washington Post Outed My Bankruptcy Secret

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                I am still amazed when I read ignorant stuff about the reason people are going bankrupt is because there is no more stigma about bankruptcy. No, the reason people are going bankrupt is because creditors are manipulating the system for their own accounting or reporting means and not allowing people to repay their debts with as much enthusiasm as the ... Read More »

                  Bank of America Talks About Sales Approach at Branch Banks

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                  In a recent Wall Street Journal article, Bank of America openly discussed the fact they gave out far too many credit cards and now something is going to have to be done about it to reduce continued risk to the bank. Expect to see more Bank of America credit cards closed unilaterally. But in the same article Bank of America ... Read More »

                    Your Searches and Speed Round Answers

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                    I was looking through the recent search phrases on the site this morning and thought I’d take a whack at answering some of them quickly so I’m trying a new approach, the speed round. What happens if you do not answer a debt collectors who is an attorney? If you mean answering the phone, you just flow further down the ... Read More »

                      Is It Time to Walk Away From Your Mortgage in a Strategic Default?

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                      With homeowners still slipping under the seas of mortgage default more and more are considering that walking away from the mortgage might be a wiser and more logical solution. This approach even has a name, strategic default. A strategic default might be something to strongly consider if you owe more than your home is worth, property values in your area ... Read More »

                        Dave Ramsey and His Un-Truth About Bankruptcy

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                        So here I am, minding my own business and what does divine intervention deliver in front of me, a link to The Dave Ramsey page titled the Truth About Bankruptcy. I really wonder if Mr. Ramsey actually believes some of the rubbish he prints. Sometimes it seems to me he is so vested in his old points of view that ... Read More »

                          California Union University Accused of Being Front for Immigration Scam

                          California Union University

                          The owner and operator of California Union University – a purported university in Fullerton whose Web page is literally just one page – is due in court today to face federal charges that his school is actually a front for a visa fraud scheme. Samuel Chai Cho Oh, 65, surrendered to Immigration and Customs Enforcement agents Tuesday morning, after a ... Read More »

                            Debt Settlement Scam Email

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                            Floating around the internet is an email using debt settlement as the hook for the age old Nigerian 419 money scam. Be on the lookout for the following email. If you get one, let me know. From: “MR GOODLUCK JONATHAN” Reply-To: Subject: CONTRACT DEBT SETTLEMENT APPROVED Date: Sun, 27 Dec 2009 09:21:07 +0100 OFFICE OF VICE –PRESIDENT FEDERAL REPUBLIC OF ... Read More »

                              Inside Information on Credit Reports and Credit Scores

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                              How The Financial World Judges You Today, your credit report and credit score dictate how much you pay for credit, insurance and other services. It is the measurement others use to determine their risk in doing business with you. Having a professional review your credit report and credit score with you are critical to saving money, avoiding identity theft and ... Read More »

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