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Debtor Education and Credit Counseling
Bankruptcy can be a good option for people who have difficulty meeting their financial obligations. Whether you choose to file under Chapter 7 liquidation or Chapter 13 reorganization the bankruptcy court requires that you participate in pre-bankruptcy credit counseling and pre-discharge debtor education. The counselors in both sessions should review your entire financial situation in […]
August 13, 2013 Posted in Bankruptcy Tagged chapter 13, chapter 7, Pennsylvania bankruptcy attorney Leave a comment
Simple Safeguards Against Identity Theft
Three Wayne County residents face charges for dozens of counts of identity theft and access device fraud. The District Attorney’s Office alleges the three used stolen names and social security numbers to apply for credit cards. At least 13 people were victims of the identity fraud. One victim had more than $14,000 in credit card […]
July 23, 2013 Posted in Financial Literacy Tagged access device fraud, identity fraud, identity theft, safeguards against identity theft, social security numbers Leave a comment
Risks of a Reverse Mortgage
Losing a home can happen to anyone. Charles Wheeler, the revered former Kansas City mayor, lost his home of more than 40 years when financial trouble hit. Medical bills, back taxes and insurance payments on the house became too big to handle. Seeking a source of cash, Wheeler took out a reverse mortgage on his […]
July 19, 2013 Posted in Debt, Financial Distress Tagged debt management, negative features, risks of reverse mortgage Leave a comment
Short Sales Increase Across Pennsylvania
Short sales are on the rise across central Pennsylvania. A short sale is a potential way to avoid foreclosure for homeowners who find themselves underwater on their mortgages. It allows home owners to sell their properties for significantly less than they owe with permission from their mortgage holders. The Central Penn Business Journal reports some […]
July 16, 2013 Posted in Credit, Debt Tagged avoiding foreclosure, negotiating with the bank, short sale increases, underwater mortgages Leave a comment
Common Credit Report Errors
Credit report errors are more common than you many think. A recent study from the Federal Trade Commission found 26 percent of consumers had a material error on their credit report, and five percent of consumers had an error that was significant enough to place them in a different credit risk tier. This means those […]
July 12, 2013 Posted in Credit, Financial Literacy Tagged common credit report errors, credit restoration, credit risk tier, federal trade commission, improve your credit, maintaining financial health Leave a comment
How to Correct a Credit Report Error
Gary Lindner is a Pittsburg small-business owner who always pays his bills. In his 20 years as a Duquesne Light customer, his service was never interrupted for nonpayment. You can imagine his shock to receive a letter from Citizens Bank informing him of the termination of his credit due to adverse personal credit information. Duquesne […]
Stop Harassment from Debt Collectors
Phone calls to your home or office from debt collectors can be stressful and embarrassing. But you have the right to stop calls when they become harassing. Federal and Pennsylvania laws protect you from offensive creditor behavior. The laws are called the Fair Debt Collection Practices Act and the Fair Credit Extension Uniformity Act. Illegal […]
July 5, 2013 Posted in Debt Tagged fair credit extension uniformity act, fair debt collection practices act, harassment from debt collectors, offensive creditor behavior Leave a comment
Five Facts to Know About Student Loans Before You Borrow
American students and graduates now owe an estimated $1 trillion in student loan debt. On average, recent graduates leave school with $22,900 in outstanding loans. With tuition costs rising, this number is likely only to increase. Before you or a family member borrows money for school, be sure to know these basic facts about student […]
July 2, 2013 Posted in Debt, Student Loans Tagged credit check requirement, know about student loans, lower interest rate, not dischargeable through bankruptcy, repayment plans Leave a comment
2013 Bankruptcy Code Inflation Adjustments
This April 1, while Americans enjoyed light-hearted April Fools’ Day fun, an important change in bankruptcy law went into effect. Bankruptcy laws contain certain fixed amounts for exemptions and debt limits. Every three years, these amounts are adjusted for inflation. In 2013, the bankruptcy inflation adjustment increases by 6.3% the dollar value of exemptions allowed […]
June 28, 2013 Posted in Bankruptcy Tagged 2013 bankruptcy code, debt limits for chapter 13 bankruptcy, exemptions increase, fairer bankruptcy laws, inflation adjustment Leave a comment
Foreclosure Woes? You Do Have Options
Over a period of 11 years, hundreds of homeowners facing foreclosure were the victims of a foreclosure remediation scam, which eventually forced many into involuntary bankruptcy proceedings. Andrew Bartok’s company, Revelations a/k/a “Foreclosure Club of America”, promised homeowners that, in exchange for fees paid to his company, they would be able to stay in their […]
June 25, 2013 Posted in Bankruptcy, Foreclosure Tagged bankruptcy petitions, foreclosure, foreclosure remediation scams, Pennsylvania bankruptcy attorneys Leave a comment
