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Colorado Man Goes to Prison for Lying on Loan Application
Seems like no big deal, doesn’t it? What harm could there be in lying on a loan application? While the story below does seem pretty severe, if a lender finds out that you lied on a loan application, there will be consequences. You could lose your loan or be sued for the amount of the [...]
Continue reading...What to do if You Can’t Make Your Mortgage Payment
30. April 2010
The Federal Trade Commission has some helpful tips if you feel like you’re on the verge of being unable to make the payments on your home:
Know Your Mortgage
Do you know what kind of mortgage you have? Do you know whether your payments are going to increase? If you can’t tell by reading the [...]
States Consider Ban on Employee Credit Checks
8. March 2010
Tough economic times have a way of compounding problems. What happens when the unemployed can no longer pay all of their bills? Unfortunately, a debtor’s story of woe is probably not going to be enough to keep a creditor from reporting late payments or an account in default. When that happens, finding a job with [...]
Continue reading...Colorado Attorney General Sues Credit Repair Company
23. February 2010
It’s bad enough to reach the end of your rope in dealing with your debt. You don’t need to feel like you’re going to be pillaged by someone who tells you they can help. So called “credit repair” companies seem to do more harm than good. In my experience, they’re no better than negotiating a [...]
Continue reading...What Happens When a Creditor Makes a False Credit Report?
15. February 2010
Maybe this has happened to you: You pay off a credit card. The credit card company reports to a credit bureau that you are delinquent on the debt. You dispute the report. The credit card company corrects the report. Then it happens three more times. The credit card company reports default. You dispute. Credit [...]
Continue reading...Can a Debt Collector Call My Boss?
10. February 2010
Lately, your phone has been ringing non-stop. Your credit card company is calling and wants to know when they are going to get paid. Even worse, they’ve started calling you at work. Can they talk to your boss or co-workers? Human resources? It depends.
Generally, without the prior consent of the consumer given directly to [...]
Where a Bounced Check Can Land You
8. February 2010
If you’ve had a checking account, at some point you’ve probably been in the red. It’s especially an easy thing to do in this Electronic Age when all you have to do is whip out your debit card and keeping track of your balance can be either as easy as checking it online or as [...]
Continue reading...5 Things to Ask for in a Debt Settlement Negotiation to Save Money
7. February 2010
Know what I hate? I hate having any work done on my car. I hate going into the shop and being at the complete mercy of the mechanic, because I don’t know anything about how cars work. Well, I don’t know anything about how cars that were built after 1980 work. [...]
Continue reading...Having Your Check Garnished – 5 Things You Should Know
5. February 2010
Before anyone can garnish your paycheck, they need to get a judgment against you, which requires filing a lawsuit. If someone threatens to garnish your paycheck, unless they’ve served you with a lawsuit, call their bluff. There are some exceptions to requiring a judgment, however, and often arise when dealing with a federally guaranteed student [...]
Continue reading...Avoid Foreclosure Rescue Scams
27. January 2010
photo: http://www.flickr.com/photos/nickbastian/ / CC BY-ND 2.0
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30. April 2010
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