Debt Consolidation/Relief Part 2 of 2

In the first part of this series, we covered the misleading things that businesses advertise on television, radio and elsewhere for “debt consolidation” or “debt settlement” services.
If you decide to enter into an agreement with a creditor, or want to fix a bad credit score keep these five things in mind.

How to proceed with the [...]

Debt Consolidation/Relief Part 1 of 2

Hardly a day goes by without seeing on television, or hearing on the radio, a commercial for “debt consolidation” or “debt settlement” services. Often, the ad includes a statement to the effect that if you owe more than $10,000.00 in credit card debt, you have the “legal right” to settle for less. Further, [...]

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 [...]

Foreclosure Prevention Resources

To supplement our series for Distressed Homeowners, I found some resources to help preserve home ownership, avoid foreclosure, and protect against foreclosure and debt elimination scams.
Before you work with a firm that claims it can help you “rescue” you from foreclosure be sure to familiarize yourself with:

Foreclosure “rescue” and refinance fraud
Fake “government” modification program
Leaseback/rent-to-buy schemes
Bankruptcy [...]

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 [...]

Small Business Separation Issues

Small business owners often say that they think of their business as their “baby.” This metaphor works when you consider the incubation, care and feeding that a business requires of its owner — sometimes 24×7.
But when it’s time to prepare a bankruptcy filing, it’s time to separate the business from its owner to determine who [...]

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.