A new tip (at least to me) for paying off credit card debt faster is to make a separate payment every 14 days to the credit card company. Making a payment every 14 days equals one extra month’s payment that you have made at the end of the year – thus reducing the amount of [...]
March 2009
California residents have two credit reporting laws at their disposal – the Fair Credit Reporting Act and the California’s Consumer Credit Reporting Agency Act. That is, under December 29, 2008. On that date, the California First District Court of Appeal, Division One, in Liceaga v. Debt Recovery Solutions, LLC (A120277) held that the federal Fair [...]
A bankruptcy filing will stop a foreclosure proceeding. As soon as you file for bankruptcy protection, a court order called the automatic stay, goes into effect immediately. With the number of foreclosures climbing to record levels, clients facing foreclosure will often ask whether a bankruptcy filing will really stop a foreclosure. Really, it will! The automatic stay is one [...]
Most people qualify to file a chapter 7 bankruptcy. BAPCPA, the law that changed bankruptcy and went into effect in October of 2005, did attempt to make it harder to qualify, but in reality, only a very small percentage of consumers aren’t eligible. First of all, if your debts are primarily business related, you can [...]
The IRS has been using outside collectors to collect debt owed to the Internal Revenue Service. After conducting an extensive review of the private debt collection program, the IRS has decided not to renew its contracts that expire Friday with two private debt collection agencies according to an announcement by the IRS (IR-2009-19). According to the [...]
With last week’s announcement of a new federal plan to help homeowners avoid foreclosure, Texas Attorney General Greg Abbott has issued a Consumer Alert: Foreclosure Rescue Scams Growing Threat to Consumers. He advises Texans to be especially alert to foreclosure rescue scams, and should keep in mind that there is no charge to participate in the [...]
