Monthly Archives: October 2012

My mortgage lender is filing foreclosure because I am behind 90-120 days. What are my options?

Your options at this point are still numerous. However, be aware that as your case progresses through the legal system you start to have fewer and fewer options until finally you have none. Continue reading

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What is debt management?

In a debt management program, you are paying the company a monthly debt management payment for a period of usually 3 to 6 years that they will apply to a monthly payment to each credit card in the program until the debt has been paid. Continue reading

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What is debt settlement?

Generally, debt settlement is a process in which a company, individual attorney or law firm negotiates settlements of your debts after you pay a fee and pay into an escrow account for many months or years. Continue reading

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When filing bankruptcy, what property is exempt?

While your exemptions allow you to keep property even in a Chapter 7 case, your exemptions do not make any difference to the right of a mortgage holder or car loan creditor to take the property to cover the debt if you are behind. In a Chapter 13 case, you can keep all of your property if your plan meets the requirements of the bankruptcy law. Continue reading

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