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Debt Management Archives

The bank has already started a foreclosure action against me. Is it too late to save my home?

The foreclosure process is a long, painful and brutal one. The home you have worked your entire life to own is at risk of being taken away from you. If you have received a so-called "breach letter," you will know that the bank has initiated a formal foreclosure action against you.

Don't get scammed by a phony loan modification provider

People who are facing foreclosure will do almost anything to save their homes. Sadly, there are numerous companies that prey on distressed homeowners and happily to take their money under the guise of helping them resolve their mortgage problems.

How bankruptcy can help you keep your home

If you are facing the possibility of losing your home to foreclosure, it is important that you understand that you have the right to fight back and that you have options to save your home. While there can be a number of different approaches to dealing with mortgage debt, filing for bankruptcy has a number of distinct advantages.

Overhauling the credit reporting system

Errors on your credit report can have a devastating effect on your life. They not only affect your ability to get a credit card, a loan or a mortgage, but they can also affect your ability to rent property, go to college and get a job. Disputing these errors, and getting your credit repaired, can be a daunting task.

What is charged off debt and do I have to pay it?

One of the most common misconceptions about debt (or at least the payment of debt) has to do with the term “charge off.” Many consumers have received notifications or explanations that a debt may be charged off if it is not paid. This may lead some to believe that if they do not pay the bill, it will simply drift off into oblivion. Unfortunately, this is simply not the case.

Why millennials shouldn't count on bankruptcy for student debt

According to a report by the Federal Reserve Bank of New York, Americans owe more in student loan debt than all the credit card debt combined. That is a huge financial epidemic. One that is felt heavily by millennials, many of whom are facing the harsh reality of the job market. While credit card debt and other types of personal debt can sometimes (but first a debtor must qualify) be discharged through Chapter 7 bankruptcy, this is not true for all types of debt. Millennials may think this is an easy fix for their student loan problem. However there is just one problem.

How federal laws protect consumers from creditor harassment

As someone with debt issues or significant debt, you are probably no stranger to constant calls and e-mails from creditors. Although debt collectors in many situations are allowed to contact you, there is sometimes a fine line between debt collection and creditor harassment. If you believe you are the victim of creditor harassment, consider this: there are bodies of federal laws enacted that protect people just like you from creditors.

9 signs you are the victim of creditor harassment

Anytime a debt collection agent contacts you, it can feel like harassment or abuse. After all, if you have debt, the last thing you need is to feel hounded to make payments you just can't make. To make matters worse, creditors are aggressive and they can be relentless when it comes to seeking payments.

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  • "Maria please let Attorney Olson know how pleased I am with the results of my home loan modification with Bank of America. I am so grateful for all of their hard work, especially since my house was a gift from my parents, I prayed not to lose it to foreclosure....."

    Cassandra M.
  • "We received last Friday our bankruptcy discharged letter for the trustee.
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  • "After a rather distasteful experience with a Foreclosure Attorney I was apprehensive to say the least to hire an Attorney to handle our Bankruptcy. After some internet searches and research I found Christian Olsen, and after our initial consultation my wife and I retained his services....."

    Bobby and Tanya
  • "I am a teacher who reaped the rewards of a profitable side business until shortly after the recession. I struggled to keep my business afloat until I finally threw in the towel. Between personal and business debt, I was suffocating in bills....."

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