When facing a foreclosure, you may be willing to try anything to avoid losing your home. While there are plenty of good steps you can take, there are also scams that will leave you in worse shape. Fraudulent foreclosure services will take your money and not offer you...
What protection will I get when filing Chapter 13?
Filing bankruptcy is a good move to get protection under the law from collection agencies or lenders. While this is a rather large step to take, it can allow you to save yourself from financial ruin. Making the decision to file can be difficult. You need to weigh the...
Bankruptcy filings soaring in the U.S. after stimulus money disappears
Stimulus checks and payment protection loans kept many Rockville families and businesses afloat during the pandemic lockdowns. That, combined with courthouses being shut for months, kept personal bankruptcy filings low in 2020 and '21. But these vital pandemic...
What are the disadvantages of a home loan modification?
A home loan modification allows you to adjust the terms of your mortgage when you are having trouble abiding by the original agreement. It is an alternative to letting your home go into foreclosure. A modification offers you some benefits, but it also has some...
Should I pay off my credit card balance every month?
Credit cards can lead to serious debt issues. When you carry a balance, unless you have a promotion, you will have interest added on when you fail to pay the balance in full on the due date. Interest adds to what you owe, and it can add up quickly. Good credit use...
What is the importance of the loss mitigation affidavit?
During the foreclosure process, you will receive multiple documents. It is important to pay attention to what you receive because these papers will provide you with a range of information about the foreclosure and where you are in the process. If you and your lender...
All about chapter 7 bankruptcy
Chapter 7 bankruptcy involves liquidation. That is the sale of an individual's nonexempt property, where the court distributes proceeds among creditors. Here is more on this type of bankruptcy and how it compares to others. Alternatives There are many types of...
What debts can you discharge in bankruptcy?
Even though a Chapter 13 filing will lead to a repayment plan with the goal of repaying your debts, you may still discharge some debts in the process. Once you complete the repayment plan, the court will remove any dischargeable debts. But it is important to...
