Free Credit Report

Posted on Wednesday, 11th August 2010 by Toby Duncan

Many mortgage companies ask Chapter 7 bankruptcy debtors to sign reaffirmation agreements if they intend to stay in their house through their bankruptcy. Reaffirmation means that the debtors will remain personally liable on their mortgage note after the bankruptcy discharge, and it means the lender can sue them if they subsequently are unable to make payments. I saw a good discuss of the mortgage reaffirmation topic in a blog post by Atlanta bankruptcy attorney Jonathan Ginsburg. Mr. Ginsburg points out two problems with not signing a reaffirmation; first, future mortgage payments do not help restore credit, and two, without reaffirmation the bankruptcy is a technical mortgage default.

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Posted on Tuesday, 10th August 2010 by Eden Fryett

You likely already know the importance of credit score monitoring, particularly if you’ve been dealing with debt or recently filed Chapter 7 bankruptcy.

Monitoring your credit score is one way to keep your creditors and ensure they remove debts that have been settled from your report.

Perhaps no man has done more to get this idea to stick in the heads of consumers than commercial singer Eric Violette.

Violette was the frontman for the fictional band pitching Experian’s freecreditreport.com service. His band played advertising jingles in unusual places like Renaissance Faires and seafood restaurants.

Experian, one of the three main credit reporting agencies, has decided that since Violette has reached “iconic” status, it’s time to move in a new direction, reports the Chicago Sun-Times. Experian

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Posted on Saturday, 7th August 2010 by Lucy Hales

And I am not taking about their customer service, which is not worse than that of others. I am talking about their willingness or rather unwillingness to settle debt with consumers. After we published Debt settlement with Capital One and Bank of America story that described how successfully a couple I know manage to settle credit card debt, we have received many emails which basically state that Capital One settlement is very hard to negotiate and that they simply refuse to settle for anything less than 50% of the outstanding debt amount. Sometimes, they do not want to negotiate at all, even after a 120-day default.

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Posted on Friday, 6th August 2010 by Eden Fryett

When President Obama signed the Dodd-Frank financial reform bill last week, one thing was conspicuously missing: any sort of regulation of the mortgage financing giants Fannie Mae and Freddie Mac.

This is apparently because they are too big to touch and require their own legislation. The bill did, however, include a one-page (out of 2,323 pages) acknowledgment of the Freddie and Fannie problem and a request for an investigation by the Department of the Treasury, reports Cincinnati.com.

So how does this oversight affect you?

• How it works. Fannie Mae and Freddie Mac are GSE’s, or Government Sponsored Enterprises. Fannie Mae was created in 1938, and Freddie Mac in 1970. T

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Posted on Friday, 6th August 2010 by Toby Duncan

If you plan on marrying someone facing bankruptcy do you also marry their debt? Generally, the answer is “no”, but in some cases, your fiance’s debt walks down the aisle. You are not liable for your spouse’s debt- that’s the general rule. Sometimes you end up paying the debt anyway. Consider the case of young couple who came to my office this week.

A young lady had over $50,000 of credit card and related debts. She was a school teach with income of approximately $30,000, well below median income. She had no non-exempt assets and based on her income alone she could solve her debt problems with a Chapter 7 bankruptcy. She stated that she recently married a man whose income was near $75,000. The h

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