If a creditor sues you and obtains a court judgment for an outstanding debt, it most states (including here in Massachusetts) they then have the right to obtain an “execution” on the judgment. This execution can be recorded at a registry of deeds to create judicial lien on real estate. This lien gives the creditor [...]
September 2009
The FBI website contains an April 2008 warning about identity theft and Home Equity Line of Credit loans. The warning details findings from a 2007 FBI study of fraud in the mortgage and real estate industry. The FBI believes thieves steal a person’s identity to either open a new line of credit over the internet [...]
Now that you’ve read the 11 Mistakes to make on a Credit Card (Parts One and Two), you should know that Congress has tried to rein in these practices. With the crisis in credit, focus has fallen on the credit card companies and the abuse they perpetrate on the consumer. The legislation prohibits or limit a number [...]
6. �YOU WILL NEVER GET ANOTHER JOB OR BE ABLE TO RENT AN APARTMENT FALSE – Employers do not want like having their employees distracted from the job by harassment at work or the extra accounting caused by wage executions. �Landlords want tenants who can use their salary to pay rent, not paying creditors instead. [...]
New rules prohibiting unfair collection acts and practices will go into effect in 2010. The Federal Reserve Board announced last December the approval of these new rules to better protect credit card users. In the meantime, credit card companies are positioning themselves to try to lessen the impact on them of the new rules. For instance, credit card [...]
