Credit and Debt Blog

(Alexander from Pennsylvania) What is an approximate fee to take a credit counseling course as a requirement to file for bankruptcy?

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(Dee from Colorado) I was told that a settlement I made on my credit card debt will reflect more negatively on my credit report than filing for bankrupsy. Is that true?

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Each month, you probably receive several bills in your mailbox or email inbox. Some are inevitable such as utilities and rent and/or mortgage, but others you wish you could get rid of. There are several different routes you can take in order to payoff these bills.

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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was implemented to reduce consumer bankruptcy filings. Apparently, it worked.

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The newest debt collection trend has a dangerous component. Uncollectible debts are being sought by aggressive debt buyers who pressure unsuspecting debtors into paying them off. Because these debts are no longer legally collectible, they can be bought by debt collectors for almost nothing. Now some creditors are being accused of intentionally failing to update [...]

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Congress may soon vote on H.R. 3609, which is titled the Emergency Ownership and Mortgage Equity Protection Act. The idea is to provide bankruptcy judges the authority to modify mortgage loans to help families afford the payments. The bill proposes allowing distressed homeowners to include their mortgage in a Chapter 13 bankruptcy filing. There are [...]

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