In an article placed online with Bankrate.com, Steve Bucci of the Consumer Credit Counseling Service of Southern New England lists his Top Ten Causes of Debt.  Conspicuously absent is fraud, abuse, intent and extravagance. Bucci’s list does not include scammers, tricksters, credit card abusers. No, Bucci finds debt accrues from ordinary life experiences, hardly [...]
September 2009
The bankruptcy of Taylor Bean & Whitaker Mortgage Corp., resulted in the transfer of mortgage servicing on its entire loan portfolio according to information from Bankrate.com. All of the FHA, VA and Rural Housing Services loans that were current as of August were transferred to Bank of America. Delinquent loans were transferred to either Saxon [...]
More mistakes to make on your credit card accounts. If you haven’t read Part One, go on back. Foreign Charges You’ve bought something on credit while on vacation in another country. In addition to the exchange rate on the date that the cahrge hits your account, creditors can add 1% to 3% (of the purchase) [...]
TOP 15 MYTHS OF BANKRUPTCY (UNLESS YOU’RE COUNTING) 1. �YOU CAN�T FILE BANKRUPTCY UNDER THE NEW LAW *FALSE – The “new” law (actually effective in 2005) put some hurdles in the way of filling for bankruptcy, but the effect is just to slow you down to give your creditors more time to pick at you [...]
Debtors filing for bankruptcy protection should be concerned about their right to receive an inheritance within the six months after filing for bankruptcy (if some relative has died before filing bankruptcy or the relative dies within 180 days of the debtor’s filing), as the bankruptcy trustee can take that inheritance to pay creditors.
A friend recently showed me his Chase savings account statement revealing Chase paid him a measly $0.62 interest for the month when he had over $80,000.00 in the account! Yet Chase is charging this same customer 27.44% on his Chase credit card! To add insult to injury, my friend called Chase and asked for an interest rate reduction on his credit [...]
