Should I Short Sale My Property?
A short sale is when your mortgage company agrees to allow you to sell your property for less than the amount owed on the mortgage. If your property is underwater then a short sale is one of your options. How do short sales work? Short sales start the same way as any other home sale: […]
Use the NDC to Track Your Chapter 13 Bankruptcy
The National Data Center (or “NDC”) is a comprehensive data source for Chapter 13 bankruptcy cases and claims. Access is free to bankruptcy debtors. If you have filed a Chapter 13 in Maryland or Washington, DC, create an account at the NDC website. Once you have an account, you can track your Chapter 13 bankruptcy. […]
Debt in Collection on Your Credit Report
The debt collection industry makes several billion dollars annually. From Q4 2009 through Q2 2015, no fewer than 33 percent had a debt collection item on their credit reports. Today, 28 percent of Americans have negative collection debts weighing down their credit scores. If you have a debt in collection on your credit report, you’re […]
How to Behave in Court
Having to appear in court can be intimidating and may frazzle your nerves. You want to be prepared and have an even and balanced disposition. Here are some helpful tips on how to behave in court. The court room is the location for justice to be carried out with the judge representing the law. The […]
Bankruptcy is the Least Expensive Way to Get Rid of Debt
Americans differ in many ways, but debt is something so many of us have in common. What we use to compensate is another thing so many of us also have in common: credit. If you feel caught up in an inescapable debt cycle, know this: Bankruptcy is the least expensive way to get rid of debt. […]
Student Loan Forgiveness Provides Relief
44.7 million Americans carry student loan debt totaling $1.56 trillion, second only to mortgage debt. The average student loan payment for borrowers 20 to 30 years old is $393 per month. Student loan forgiveness would provide relief to these distressed borrowers. In the last quarter of 2018, U.S. student loan delinquencies reached a record of […]
Stop Garnishment of Wages in MD, VA and DC
In Washington, D.C., Virginia and Maryland, a creditor can garnish up to 25 percent of disposable wages. Usually, that makes a serious dent in a household’s disposable income. If you are seeking to stop garnishment of wages in Maryland, Virginia or Washington, D.C., call Lee Legal for a free consultation. You should seek private settlement […]
Don’t “Tip Your Hand” to Your Mortgage Company
Filing a Chapter 13 bankruptcy will cancel any scheduled foreclosure auction. Once you file bankruptcy, the automatic stay takes effect and your mortgage company must immediately halt all foreclosure activity. But if you’re planning to file bankruptcy to stop a foreclosure, don’t “tip your hand” to your mortgage company. Do it, don’t just say it […]
Debt Doesn’t Just Disappear
Debt collector phone calls and collection letters in the mail are never welcome yet must be dealt with all the same. For some, ignoring their debt is a direct result of not having the money to pay the debt. But know this: ignoring debt collectors will never remedy the situation. In fact, it could make it […]