A Day Late and a Dollar Short
Creditors expect not only to be paid, but to be paid on time. Mortgage companies are no different. When it comes to your mortgage, you can’t be a day late and a dollar short. When you’re dealing with your home, the stakes are too high to risk otherwise. Credit bureau reporting Mortgage companies report religiously […]
What to Look For When You Hire a Lawyer
When you hire a lawyer, it’s a bit different than hiring other kinds of professionals. There are many different aspects of the practice of law that you will want to take into account before you sign a retainer agreement. Here are some key characteristics to consider when you hire a lawyer to represent you. Legal […]
Bankruptcy Discharge of Student Loans Would Boost U.S. Economy
When the Great Recession officially ended in June 2009, the total outstanding amount of student loan debt in the U.S. was $675 billion. Today, total U.S. student loan debt has more than doubled to $1.465 trillion. If allowed to do so, not every student will declare bankruptcy to discharge student loans. But for those who […]
Will a Loan Modification Hurt My Credit Score?
If you fall behind on your mortgage, you have options, but you must be proactive. One of the best ways to get back on track with your mortgage is loan modification. But will a loan modification hurt your credit score? Loan modification can hurt your credit score The biggest negative effect to your credit from […]
Retain or Surrender Secured Debt in Bankruptcy?
Secured debt in bankruptcy is treated differently than unsecured debt. In a Chapter 7 bankruptcy, loans securing property may exempt that property from liquidation. Chapter 13 bankruptcy, on the other hand, allows you to repay over time any defaulted amounts on secured loans. Often the most important question revolves around whether to retain or surrender […]