debt Tag

29 Mar Is My Spouse Responsible For My Debt?

For along time in the United States, we have recognized that husbands and wives are separate legal entities. We may take for granted that women can own property in their own name or that a husband does not 'own' his wife. We accept that generally speaking, spouses are not responsible for each other's debts. They can file for bankruptcy alone.

But is this entirely true?

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28 Mar Can Settled Debt Hurt My Credit Rating?

The secret to settling debt with your creditors is assure finality. You want to make sure that the debt never comes back. (Read: Zombie Debt Haunts the Discharged and Zombie Debt.) Can debt be settled? Absolutely. However when you negotiate to settle your debt you must make sure that the creditor reports it properly on your credit report.

Will settled debt hurt your credit score?

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27 Mar Is Your Credit An Asset?

In America, "Thou shalt protect your credit rating" is the Eleventh Commandment. Some folks track their credit score the way cardiologiststrack blood pressure and cholesterol. It's true: Your Fico score is important. What you pay for credit will start - and sometimes end - with that one number, generated by the secretive math wizards at Fair Issac. A good number can save thousands over the course of a home or even car loan. But like any asset, your "good credit" costs something to acquire and keep.
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26 Mar In the Armed Services? The Servicemembers Civil Relief Act May Help You Avoid Bankruptcy! (Part Three of Three)

In Part Two of this series we discussed how the Servicemembers Civil Relief Act (SCRA) can stay court and administrative proceedings brought by creditors and prevent the legal proceedings from going forward while an enlisted person is on active duty. In this this third and final...

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