Thursday, 23rd February 2012.

Debt Counseling- Debt Settlement

Posted on Tuesday, 8th February 2011 by Amelia M

Debt Counseling, debt settlement has become a growing professional service in recent years as more and more Americans find themselves facing seemingly insurmountable levels of debt. Debt settlement counselors are trained to understand the complexities of debt settlement issues and are employed to help people find a way out of their personal debt crisis. And there is a way out! Even better, the way out can often be painless. It is not necessary to sacrifice everything to get out of debt. Usually all it takes is debt re-negotiation. If this is done with your creditor, it will usually be done on their terms.

Learn more…

Tags: Debt Counseling, Debt Settlement, Settlement
Comments (0)

Credit Card Company Tries Collecting Decade-Old Debt

Posted on Sunday, 6th February 2011 by Nicholas P

Debt more than a decade-old is being drudged up by at least one credit card company. According to the Los Angeles Times, Frank Cavestani and his wife got behind on their Capital One credit card payments ten years ago. They say they resolved the issue by writing off about $2,000 in debt the couple wasn’t able to pay. Since then they’ve heard nothing and believed the account was closed, the issue resolved.

But recently the couple got a new bill from Capital One, after a decade of hearing nothing. The company sent a bill for the $2,000 debt plus interest, a total of $5,195.07. When the couple called the company to get answers they were told that Capital One is bringing back old debt accounts because of recently-approved regulations by the Federal Reserve. The

Learn more…

Tags: Card Company, Credit Card, Credit Card Company, Debt
Comments (0)

Could Bankruptcy Help Struggling Homeowners Avoid Foreclosure?

Posted on Saturday, 5th February 2011 by Gregory T

It looks like troubled homeowners may soon have a better option for modifying home loans, according to Chicago bankruptcy attorneys.

A new bill backed by Sen. Sheldon Whitehouse suggests that the federal government consider allowing bankruptcy to be used to modify the mortgages of the millions of Americans at risk for foreclosure. Currently, the best aid Uncle Sam has mustered is the failing Home Affordable Modification Plan, which has barely assisted 500,000 of the four million homes it set out to save. Clearly, homeowners need a better solution.

It’s not that modifying mortgages doesn’t work – it’s that it doesn’t work for enough people.

Learn more…

Tags: Homeowners, Homeowners Avoid
Comments (0)

An Explainantion of Chapter 7 Bankruptcy by Los Angeles Bankruptcy Attorney Steven C. Peck

Posted on Saturday, 5th February 2011 by Gregory T

There are primarily two ways for an individual to file for bankruptcy, Chapter 7 and 13. According to Chapter 7, a person may keep a certain part of his property together with most liens, like real estate mortgages. If the person has other assets then these are sold off by the interim trustee to pay off the creditors. However, in any US city like Los Angeles and San Diego there are numerous unsecured debts which get cancelled if Chapter 7 is filed. says Los Angeles Bankruptcy Attorney Steven C. Peck.

There is one major disadvantage of filing Chapter 7. A record of it stays for 10 years on the debtor’s credit report.

Learn more…

Tags: Angeles Bankruptcy, Bankruptcy
Comments (0)