As we embark on the beginning of another crazy holiday season, it’s worth pausing to reflect on ways to keep our heads and wallets in check in order to avoid debt problems and bankruptcy in the New Year. Here are a few things to keep in mind as you fight your way through the crowds
As New York foreclosures remain a problem, it’s perhaps more important than ever before to understand your mortgage. However, an attempt to diagram the journey of a mortgage seems, paradoxically, to do the opposite. The chart is the work of Dan Edstrom, an employee of DTC Systems, who performs securitization audits, and who devoted the
NPR has a good piece this morning on WNYC about a real estate agent in Springfield, MO who goes door to door helping homeowners facing foreclosure. She and her partner literally knock on doors and offer their services for free. As a result, they’ve helped a number of homeowners at least temporarily stave off foreclosure
Some bankruptcy and debt collector stories seem a bit over the top. This one is way over the top. But it’s also a good example of the lengths that debt collectors will go to. An Erie, PA-based debt collection agency set up its office to look like a courtroom and held fake hearings. All in
New Yorkers in search of debt relief often seek out debt settlement companies. As I’ve mentioned in previous posts, debt settlement companies should really be avoided and are not to be trusted. That said, the Federal Trade Commission (FTC) recently issued new rules intended to protect consumers from debt settlement companies. So in the event
Having second thoughts about taking out a student loan for yourself or your offspring? There’s a great piece on Huffington Post by Zac Bissonnette titled, “The Student Loan Disclosure Document That Every Borrower Should Read.” It does a really nice job of making clear all of the risks involved with student loans and pointing out
If you’re a New York senior citizen thinking about bankruptcy because of credit card debt, you’re likely not alone. Not only have senior citizen bankruptcy filings risen substantially from last year. But the primary cause of those filings appears to be credit card debt, not medical debt, according to research by Law Professor John Pottow
New York foreclosure regulation just got a little stricter. And that’s not a bad thing. A new rule set forth by the New York Courts requires lawyers who assist banks with foreclosures to submit a signed statement attesting that they took reasonable steps to confirm the accuracy of the underlying documents. This essentially shifts some
Let’s say your New York bankruptcy case is completed and you’re contemplating your options for credit cards. (Because you know that having a credit card and using it wisely is a good way to help rebuild your credit.) A retail credit card (is likely not your best option. And you’re probably better off with an
What do debt collectors in Buffalo, NY have to do with you? It turns out that debt collection is one of the thriving industries in Buffalo. And if you get a phone call about debt you owe, it may just be coming from there. The October 11 issue of the New Yorker magazine has a
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