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Creditors expect not only to be paid, but to be paid on time. Mortgage companies are no different. When it comes to your mortgage, you can’t be a day late and a dollar short. When you’re dealing with your home, the stakes are too high to risk otherwise. Credit bureau reporting Mortgage companies report religiously…

When you hire a lawyer, it’s a bit different than hiring other kinds of professionals. There are many different aspects of the practice of law that you will want to take into account before you sign a retainer agreement. Here are some key characteristics to consider when you hire a lawyer to represent you. Legal…

When the Great Recession officially ended in June 2009, the total outstanding amount of student loan debt in the U.S. was $675 billion. Today, total U.S. student loan debt has more than doubled to $1.465 trillion. If allowed to do so, not every student will declare bankruptcy to discharge student loans. But for those who…

If you fall behind on your mortgage, you have options, but you must be proactive. One of the best ways to get back on track with your mortgage is loan modification. But will a loan modification hurt your credit score? Loan modification can hurt your credit score The biggest negative effect to your credit from…

Secured debt in bankruptcy is treated differently than unsecured debt. In a Chapter 7 bankruptcy, loans securing property may exempt that property from liquidation. Chapter 13 bankruptcy, on the other hand, allows you to repay over time any defaulted amounts on secured loans. Often the most important question revolves around whether to retain or surrender…

If your mortgage lender commences foreclosure proceedings, educate yourself about the process so you can chart the best way forward for you. You have options — but do your best to avoid the most common foreclosure mistakes. Believing that once the foreclosure process starts, you will lose the property. Not so fast. Your lender must…

Sometimes an employee doesn’t even know that a creditor is seeking to garnish until they see a change in their paycheck. At that point, you should seek advice of legal counsel. So how much of my paycheck can a creditor garnish? The garnishment process Before a creditor can garnish your wages, that creditor must obtain…

As of 2024, total student loan debt in the U.S. has reached $1.75 trillion in total student loan debt, including federal and private loans. The average student borrower graduates with about $29,000 in student loans on average. The number of college students taking out loans has tripled in just the last decade. Yet most students…

Seek foreclosure assistance if you are facing a foreclosure auction in DC, Maryland or Virginia. If you want to keep your home, act fast while you still have options. Stop the foreclosure process In some cases, it makes sense to allow a foreclosure auction to take place. If you no longer want to keep the…

So you got that little something you wanted and you ate too many sweets. And maybe you were a bit too generous this year. But now Christmas is over. You saw the ball the drop, and it’s a entirely new year. The holidays are over, now get rid of your debt. Make becoming debt-free your…