Will I Be Able to Rent After Foreclosure?
You will be able to rent after foreclosure, even if it may be a bit more difficult. You’re already going through the stressful process of foreclosure. But finding a new place to live and moving can be just as stressful. A foreclosure will remain on your credit report for seven years. But the effects of the […]
How to Prevent Vehicle Repossession
If you fall behind on car payments, you run the risk of repossession. Some lenders are quicker than others to repossess, but most wait until the third month of non-payment. There are several methods to prevent vehicle repossession. Your lender may warn you via correspondence that repossession is possible. But no lender will warn you […]
Are You ALICE? 43 Percent of All Americans Are
The United Way has released a study on Americans they classify as ALICE, which stands for Asset Limited, Income Constrained, Employed. The study found that this group does not make the money needed “to survive in the modern economy.” Are you ALICE, too? The study found that 51 million American households struggle to pay for food […]
Debt Lawsuits in the Washington DC Region
Debt collection lawsuits are much more common in black neighborhoods than in white ones. And by far Washington, DC has the highest percentage of African-Americans in the United States. Debt lawsuits in the Washington, DC region are quite common. Credit card lawsuits If you stop paying American Express, they will sue you. If a credit card company believes […]
Too Big to Fail, Small Enough to Jail
The 2017 PBS Frontline documentary Abacus: Small Enough to Jail tells the story of the Abacus Federal Savings Bank, a family-owned community bank situated in NYC’s Chinatown. Abacus became the only financial institution to actually face criminal charges following the subprime mortgage crisis. Abacus Bank: small enough to jail A rogue employee of the bank, […]
Reinstate the Bankruptcy Discharge for Student Loans
Jerome Powell, the new Federal Reserve Chairman, believes that we should bring back the bankruptcy discharge for student loans. For years, Lee Legal has advocated for the bankruptcy discharge for student loans. Before 1976, federal student loans could be discharged just like any other unsecured debts. And up until 2005, private student loans could be […]
Stop Foreclosure Immediately
You may have done everything that you could to stop foreclosure on your own. But if your lender schedules an auction, you must take steps to stop foreclosure immediately. Before an auction is scheduled, you have lots of foreclosure prevention options. But the only sure-fire way to stop foreclosure immediately is to file bankruptcy. Chapter […]
File Bankruptcy to Stop a Lawsuit
If a creditor sues you on a debt, you should know that you can file bankruptcy to stop a lawsuit. A creditor may sue you for the debt on repossessed car, broken lease, or credit card. Or a former lender may sue you for a deficiency judgment from a foreclosure. An individual plaintiff may claim […]
Make the Most of Foreclosure Mediation in Washington DC
In order to foreclose in the District of Columbia, a mortgage lender must submit to mandatory foreclosure mediation. The District’s Foreclosure Mediation Program requires lenders to mediate in good faith with borrowers. Foreclosure litigation in DC offers several stages at which you can obtain a mortgage modification. Make the most of your foreclosure mediation in Washington […]