If you are late by more than 30 days on your mortgage payment, the lender can declare the mortgage in default. When this happens, the owner of the house has two choices – either pay the mortgage amount due immediately or face a foreclosure lawsuit that would auction off his/ her home to recover the [...]
Voluntary bankruptcy is a court proceeding that someone with more debt than they can pay initiates the process instead of any irate creditor. In this case, the debtor declares that he/ she is finding it impossible to pay their outstanding debts, and therefore is seeking protection from debtors through the intervention of the court. The [...]
Joint bankruptcy is when a husband and wife file for bankruptcy together or “jointly.” Before you decide on whether you should file individually or joint, you need to look up the pros and cons of the situation as well as, keeping in mind what your ultimate long and short term financial goals are. The Disadvantages [...]
If you are filing bankruptcy in Oregon you will need to know to what extent this law will provide relief, and what loans are not covered under this law. Filing bankruptcy in Oregon is a good option if any of the following statements apply to you: - Your bills are too long overdue and you [...]
Most people do not really understand the full implications of bankruptcy. The reality is that bankruptcy is not a new bed of roses, although someone in deep financial troubles can perceive this relief as such. First of all, not everyone will qualify for bankruptcy. After the bankruptcy laws were amended in 2005, there were many [...]
It is a myth that bankruptcy solutions will cover all financial problems. There are many debts that bankruptcy will not resolve. Before you declare bankruptcy, you need to be aware, which of your debts will not be covered under bankruptcy relief. Some debts that will not be covered are: 1. Student loans – This loan [...]
Are you aware of the severity of credit card fraud? There are an estimated 1 trillion credit card holders in the world today – as this is the most convenient way to shop in this technological age. Credit cards are used for a large gamut of services – not only for buying goods and services [...]
With identity theft on the rise, a few agencies conducted inverted analysis that looked into the cost of identity theft. What does it cost to set up an identity theft company? The results were shocking to say the least – the cost comes to $30-$300. This is all it costs to set up a fake [...]
The identity theft business is a thriving business! There are millions of dollars mulched every year from mostly small and medium size businesses because these are the businesses that do not have adequate guarding systems put into place. The common mode of operation is simple. Send a virus-laden email to the account officials of the [...]
Yes, it is. In fact, identifying areas for dispute on a credit report is one of the most important facets of credit repair. Why is this necessary? Think of the errors that creep into your credit report as a leaking bucket. If you do not fix the hole, you will lose precious water and never [...]
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