A large portion of existing credit cards carry some sort of perk for borrowers, like cashback or frequent flier miles. Did you notice that those are often taken away if you go into default? If you are getting close to defaulting on your credit cards, you have bigger problems then worrying over your cashback bonus [...]
April 2009
You can file a bankruptcy case without an attorney. But you’d be giving up a lot. Here’s just a few of the things a lawyer can do to help you with your bankruptcy case.
Professor Lawless reports in Credit Slips that chapter 13 cases are now being filed at the lowest rate since the Bankruptcy Code was amended. Why is this happening? You need disposable income for a chapter 13 plan – yet more people are out of work You would want equity in property in order to file a [...]
When a local grocery store chain filed a Chapter 11, I began fielding calls from people who had received notice of the bankruptcy filing from the court, along with a form to use to file a claim with the court. It’s a confusing and unsettling thing to get in your mailbox. So what do you [...]
Just because you have not been foreclosed on yet, does not mean you will be getting a mortgage modification. image by: dreamstime Foreclosures will be increasing again, as the freeze on foreclosures by Fannie Mae and others has ended. Having further depressed the housing market with all the foreclosures already completed, mortgage companies appear to [...]
Bigelow Homes, a residential home builder with developments in Illinois and Texas, has announced what it calls the “Recession Proof House”. Bigelow is following the lead of many automobile manufacturers in offering to pay the buyer’s mortgage if the buyer becomes unemployed. In an additional effort to improve sales, Bigelow is also offering: No down payment [...]
