Saving Your Home When Facing Bankruptcy

Stay put while you start fresh A bankruptcy can be stressful enough without worrying about uprooting your family. When you file for a Chapter 7 bankruptcy, the majority of your assets—including your house—may be sold by the bankruptcy trustee in order to pay your creditors. However, there are a few circumstances in which you may […]

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What to Do Immediately when Facing Wage Garnishment

You work hard for your paycheck. When a wage garnishment threatens to leave you with only a portion of it, know that you have options, but you need to act quickly. Request credit reports While dealing with wage garnishment can be stressful, having your wages withheld for a debt you don’t rightfully owe is even […]

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Student debt in default: Can a tax refund be seized for payment?

The entry “student loan debt” would seem to be an eminently appropriate definition for the term “slippery slope” in any dictionary of American idioms. Millions of Americans from past generations likely feel as though they dodged a bullet regarding their pay-back duties to lenders following college graduation. Looking back, it might have seemed hard to […]

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Consumer protections announced in medical debt realm

Following is a scenario that many consumers in Texas and nationally can undoubtedly relate to. Imagine that you recently underwent a medical procedure. You have medical insurance, which covered your care. However, and as these things typically go, you are in the dark regarding what you personally owe, because your insurer needs time to go […]

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U.S. Supreme Court to rule on underwater mortgages

The United States Supreme Court is hearing oral arguments regarding whether it’s possible to discharge an underwater mortgage loan through Chapter 7 bankruptcy. Two homeowners with second mortgages owned homes worth less than what they owed on their first mortgages. The same lender possessed the junior-lien rights in both instances. There have been conflicting rulings […]

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In the Great Recession’s wake, debt still trumps savings for many

Some consumers — the most fortunate among us — manage to save money just fine, while keeping troublesome debt levels at bay at the same time. Others, conversely, neither save much nor tap into their credit cards to an extent that causes them to lose sleep at night. For them, personal finances are essentially a […]

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A growing consensus that student loan reform is urgently needed

Today’s post is essentially a transition piece that we believe tightly and logically links back to our immediately preceding post on student loan debt. In our entry dated March 12, we noted that “loan payback amounts sometimes loom as lifelong obligations for select borrowers.” Those obligations can seem far more onerous, we remarked, when authorities […]

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Is there a silver lining to continuing “zombie” foreclosures?

What might conceivably be the upside in an increased number of for-sale signs being seen in any American neighborhood that result from foreclosure and repossession? For many people in Texas and elsewhere, those signs are clearly just dismal reminders that struggles persist for many homeowners. Even years after the so-called Great Recession and the monumental […]

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Is DOJ mortgage fraud focus now shifting to criminal penalties?

One thing that the great national mortgage crisis of recent years readily signifies is that complex books often have many chapters. A new one is currently being written, authored by outgoing U.S. Department of Justice Attorney General Eric Holder. Prior to turning his post over to successor Loretta Lynch, Holder has directed attorneys in his […]

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Many Americans continue to cite money as top stress inducer

Work-related stresses? Check. Sleepless hours at night spent thinking about family responsibilities? Check. Money worries? Check — underscored and in bold. Americans worry about a great deal of things, which is understandable, given the nightly parading across the television screen of stories relating to terrorism, geo-political conflict, climactic change, legislative malaise on Capitol Hill and […]

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