Board Certified Specialist in Bankruptcy
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 agreement Get the settlement terms, in writing, from the … [Read more...]
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, we frequently see clients who have paid hundreds or even thousands of dollars to a debt … [Read more...]
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 in the re: line. Sample Credit … [Read more...]
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 … [Read more...]
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 to explore ways to cut costs and grow revenues. Seek Sound … [Read more...]
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 24x7. But when it's time to prepare a bankruptcy filing, it's time to separate the business from its owner to determine who (the business or the owner) needs to file for bankruptcy protection. … [Read more...]
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 change to their rates or … [Read more...]
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 from the Kauffman Foundation According to a study released by the … [Read more...]
We get calls asking for a "medical bankruptcy" nearly every day. There is no such thing. Medical bills are similar to credit cards -- unsecured debt 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. That said, medical bills are often a factor in the … [Read more...]