I’ve been posting about bankruptcy questions asked most frequently by my clients, and I’ve dealt with questions about the pre-bankruptcy process, procedural issues, and Chapter 13 issues. But almost all my clients want to know about life after bankruptcy. Once again, I cannot over-emphasize the importance of consulting your own bankruptcy lawyer because circumstances can [...]
September 2009
I wanted to call your attention to a useful article that appeared on the FoxBusiness website – a reprint of an article from Bankrate.com called “100 Tips to Help You Save.” Some of the tips refer to “big ticket” decisions like choosing light colored roof to save energy, but many of the tips discuss changes [...]
Generally speaking, the statute of limitations for a creditor to bring a lawsuit to collect a typical unsecured debt (like a credit card) in Massachusetts is six years from the date of the original breach, or failure to pay. This six-year period, however, is subject to a number of limitations. For instance, a subsequent payment [...]
Massachusetts has adopted its own version of the Truth in Lending Act (TILA) known as the Massachusetts Consumer Credit Cost Disclosure Act (CCCDA). Although these acts are substantially similar, they contain different statutes of limitations for actions based on a lender’s failure to provide adequate disclosure of lending terms and borrowers’ rights in consumer credit [...]
Kids don’t have credit, do they? Studies have shown that 32% of high school seniors use a credit card and 3 out of 5 college freshmen max out their credit cards within the first year. College students receive an average of 8 credit cards offers within their first week of school. Universities lose more student [...]
Save hundreds of dollars and avoid these traps when transferring your high credit card balances to lower interest accounts. Walecia Konrad published these tips to Bankrate.com. 1. Keep track of time as special offers usually expire in 6 or 9 months. 2. Determine what interest rate applies to balance transfers and what rate applies to [...]
