Credit Report Disputes

People often call our offices for help cleaning up their credit reports.  We suggest they use this letter, provided courtesy of the Consumer Credit Counseling Service of Orange County.
We advise sending the letter to all three bureaus (Equifax, TransUnion, and Experian), by certified mail, return receipt requested, and including their SSN and full legal name [...]

Who Defaults, and Why?

This month we’ve run a series for distressed homeowners and published NC foreclosure data. To round out our coverage on the topic I want to discuss a paper written by James E. Rogers of the University of Arizona’s College of Law because it runs counter to what people generally believe is happening with people “walking [...]

Surviving USAirways Layoffs & Furloughs

Charlotte has fared better than other cities at the hands of USAirways, but it hasn’t been easy for those who’ve been laid off, furloughed or left doing the work of their former coworkers.
CEO Doug Parker says analysts predict the airline will lose $600 million this year and obviously such losses are untenable. Management will continue [...]

Credit Score News

This week’s USAToday ran a helpful story analyzing changes in credit scoring in the face of developments in this Great Recession. Highlights:

Lenders are closing credit card accounts and lowering credit limits for millions of consumers and business owners who have never paid late. Some lenders are reporting mortgage modifications in a way that dings consumers’ [...]

Credit Card Regulations Changed

Immediately, several new federal regulations on credit card issuers become effective, including:

Creditors will be allowed to avoid future interest-rate increases and pay off any outstanding balance over time under the original rate terms.
Bills must be mailed at least 21 days before their due dates and provide at least 45 days’ notice before making a significant [...]

Small Businesses and Credit Cards

Since our firm is a member of the Better Business Bureau, I read the BBB’s weekly updates.  This week the BBB recommended an article on small businesses and credit cards that got my attention because it mirrors what we see with our small business clients who come in for credit card counseling and bankruptcy counseling.
Wisdom [...]

I want to file a “medical bankruptcy”

We get calls asking for a “medical bankruptcy” nearly every day. There is no such thing. When you file for bankruptcy protection, your medical creditors are in your filing alongside all the others, including credit cards, vehicles, real estate, business loans you guaranteed, etc.

I don’t want to file, but should I?

Many people we see in our offices want us to handle negotiations with credit card companies or provide them with credit card counseling. Most often these individuals need bankruptcy protection, not creditor negotiation or credit card counseling. You may be the exception, so contact our office for an initial consultation. Here’s a checklist to see whether bankruptcy is a viable option for your circumstances.