(Alexander from Pennsylvania) What is an approximate fee to take a credit counseling course as a requirement to file for bankruptcy? (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Archive for the ‘Bankruptcy’ Category
Worse Credit Score Impact: Debt Settlement or Bankruptcy?
(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? (more…)
Payoff Bills
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. (more…)
Consumer Bankruptcies Down But Rising
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was implemented to reduce consumer bankruptcy filings. Apparently, it worked. (more…)
Lenders Violate Credit Laws for Discharged Debts
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 credit records in an attempt to pressure debtors to repay old accounts. Before you pay on that old account, make sure that you understand your rights, especially if the debt was discharged under bankruptcy. (more…)
Emergency Ownership and Mortgage Equity Protection Act
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 some other important proposed changes also. (more…)
