In Part 1, we discussed how mortgage companies often engage in â€œdouble dippingâ€ when you are in a Chapter 13. Part 2 dealt with how mortgage companies commonly fail to send you a monthly statement while you are in a Chapter 13 bankruptcy. Part 3 addresses the ways in which mortgage companies often misapply monthly mortgage payments.
In many cases, during your Chapter 13 your monthly mortgage payments increase (or decrease) for any number of reasons - because of a variable interest rate, an increase in property taxes, etc. If the mortgage company isnâ€™t sending you a monthly mortgage statement (see Part 2), you may not have been aware of the change. In that situation, the monthly payment you are sending may not be enough to cover any increase.
Part 12 of my review of Kevin Trudeau's book, Debt Cures They Don't Want You to Know examines Chapter 17: Stealing Candy From Babies. The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this latest self-help promotion or is he making money selling empty promises.
Trudeau turns his attention to the state of the economy, both nationally and indvidually. He points out that the consumer has increased their debt through the efforts of the credit card industry and through the "have it now" philosophy of the American consumer. Trudeau believes that the accounting practices used by the credit card industry make it difficult to know exactly what one owes. He also points out that the targets of the credit card industry is the new consumer, such as college students, illegal immigrants, the impoverished. He urges parents to educate their children regarding the wise use of credit.