Reaffirmation agreements are the subject of great debate. Secured creditors, like auto lenders, want you to sign them if you file Chapter 7 bankruptcy. Reaffirmation agreements prevent debt from being discharged, and lenders like that. But because your discharge is the Holy Grail of the bankruptcy process, you need to weigh your options very carefully [...]
repossession
Turning in a car to get out from under high car payments may backfire. Many people think that a “voluntary” repossession won’t come back to haunt them, but any surrender or repossession of a car that does not pay off the loan in full can lead to big debt problems for the borrower. When you [...]
Nobody owns sarcasm the way Stephen Colbert owns sarcasm. Responding to Democratic criticism of conservative economic policy, Stephen Colbert provides proof that the economy is in great shape. Even in this depressing economic cloud, there’s always a (tarnished) silver lining. When it comes to repossessing property, there are certain conditions that prevent the repo man [...]
