Avoiding debt collection is not the same as debt relief
Facebook, Twitter and other social media websites have profoundly changed the way many Americans share information about their lives. But does that mean that it’s fair game for debt collectors to contact debtors on those websites? The answer is essentially no. But federal regulators realize they need to do more to prevent debt collectors from […]
Fighting back against debt collection threats
The debt collection industry is out of control. Indeed, it has been out of control for years. But consumers and their advocates, as well as government regulators, are increasingly fighting back. If you are struggling with the need for debt relief, you may have experienced unfair collection practices. You may even have experienced one or […]
Debt collectors and disclosure to third parties: law sets limits
Being in debt should not be a matter of shame. Many people face struggles in paying their bills. And there are many factors beyond a person’s control such as job loss or medical bills that can throw a family’s finances out of whack. Fortunately, we don’t live in a society that throws people in debtor’s […]
Foreclosure defense: the benefits of the automatic stay
Few people or organizations want to seem Scrooge-like at Christmas. The enduring image of Charles Dickens’s fictional character is a cautionary tale of pushing people too hard at the holidays. It is perhaps no surprise, then, that Fannie Mae and Freddie Mac, the giant, quasi-public mortgage lenders, have announced a moratorium on evictions from December […]
Foreclosure in San Antonio: an update on trends
In the long, sluggish slump that has followed the real estate crisis, many people turned to bankruptcy to help save their homes. In particular, the automatic stay on creditors’ collection efforts that comes with a bankruptcy filing can help forestall a home foreclosure action by a mortgage lender. The San Antonio area has been greatly […]
When Educational Debt Becomes a Burden, Not a Stepping Stone
San Antonio Mayor Julian Castro gives the keynote address at the Democratic National Convention tonight. It is a high honor to be chosen for this assignment. Everyone from the San Antonio area – regardless of political affiliation – will be sharing the spotlight by extension. The major is still only 37. In his three years […]
Rising Housing Costs Leave Many Texans in Need of Debt Relief
It isn’t only loss of a job or unexpected medical debts that can cause you to get behind on your mortgage payments. The need for debt relief can also be the result of the cumulative effect of wages that just don’t keep with the high cost of housing and other expenses. Home foreclosure in San […]
Preventing Foreclosure: How Banks Failed on Loan Modification
Big banks bear a lot of responsibility for the foreclosure crisis of recent years. In fact, they’ve admitted it. Five of the nation’s largest banks entered into a settlement with the federal governments and 49 states earlier this year. The banks agreed to pay $25 billion as compensation for foreclosures that often did not meet […]
Foreclosure Prevention: New Rules Proposed for Mortgage Servicers
A flood of foreclosures has many engulfed hundreds of thousands of people since the Great Recession hit in 2007. This includes hundreds of people in the San Antonio and many more throughout Texas. Federal efforts to stem the tide have been largely ineffective. And mortgage lenders and services have done little to work constructively with […]
Families of Elite Olympians Often Have Ordinary Financial Problems
To the television viewer, Olympic athletes seem to be on top of the world. They are young, strong and highly skilled in their sports, with bright futures beckoning. But most athletes come from ordinary families with ordinary financial struggles. For example, the mother of a gold medal-winning gymnast filed for bankruptcy to help keep her […]