Family Debt Problems

24 Nov Drowning in Debt: What Debts Should You Pay First?

Most agree that the United States is headed for a recession (if not already there).  When interest rates rise, jobs are lost, and the bills mount up, what can a consumer do to control their debt?   The National Consumer Law Center (NCLC) has published "Guide To Surviving Debt" to aid consumers.   The  publication is for consumers who are already in financial distress or see that they are ended for financial distress. 
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16 Oct If You Are Sued, Don’t Just Call The Creditor – You Need To Take Action On The Suit.

This week I have talked to several people who have said that when they were sued they "called the creditor and worked it out so they didn't have to attend the hearing" but it turned out that a judgment was entered against them anyway. If you are sued by a creditor, you must understand that the neither the creditor nor the creditor's attorney is on your side. While it may be true that they will work with you on a payment plan, that doesn't necessarily mean that they stop the lawsuit. While they are "working it out", they may also be asking the court to place a judgment lien on you, which can be a lien on any real estate you own such as your house., and it can also be the basis for seizure of other personal property or bank accounts to satisfy the debts. In some states, the judgment can lead to garnishment of wages.
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30 Sep $700 Billion Wall Street Bailout Is Now A Rescue Package For Main Street

This blog is about Debt. Our leaders in Washington are about to strap us with a bucket load of debt. Debt that will be with our grandchildren, even though the Government anticipates making a profit. Make no mistake there will be a bunch of arms twisted, and We Will Have A Bailout Bill soon. The question is how are they going to sell it to the American Public? Yesterday's historic vote was a perfect example of how the Spin (Bush) Administration will sell the deal. What a difference a day makes: Yesterday's activities in Washington directly impacted the stock market to the tune of a 777 point drop.
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