Consumer Law Pro

If a debtor’s household income exceeds the median for their state, they will need to file under chapter 13 in most cases. There are some rare exceptions which I won’t discuss in this article. Your monthly chapter 13 plan payment...

Both a short sale and a foreclosure may result in a deficiency balance owed to the lender. However, if you have just one loan on your residence, many lenders will forgive the remaining balance and report the debt as settled...

Debt Settlement vs Bankruptcy You may have heard commercials from debt settlement companies promising to settle debts for pennies on the dollar or for low monthly payments. You should be skeptical about these claims. Many national debt settlement companies do...

How Does Bankruptcy Affect My Credit? Your credit rating is one of the factors lenders use to determine if you are a good risk. A good credit rating can make the difference between being approved or rejected for a home...

Rebuilding Credit After Bankruptcy Sometimes people make mistakes when it comes to business decisions, resulting in debts that are simply impossible to repay. This forces them to make the uncomfortable decision of filing for bankruptcy. Doing so is never an...

What happens to your home when you file bankruptcy depends on how much equity you have in the home and which chapter of bankruptcy you file. In a chapter 7 bankruptcy, your home is at risk of being liquidated if...

Bankruptcy Myths Collection agencies and creditors will often call debtors and allege that unsecured debts that have been reduced to judgments and credit card bills are no longer dischargeable in bankruptcy. These and other similar allegations made by debt collectors...

What happens to mortgages in bankruptcy? It  depends on which chapter of bankruptcy you file under and what your intentions are. Chapter 7 If you file a chapter 7 and you want to keep the home, you will continue making...

Medical debt credit reporting legislation signed into law in Colorado CO becomes the first state to prohibit medical debt information from being included on consumer credit reports and factored into credit scores, except under very narrow circumstances. The legislation is set...

Life is unpredictable. Our circumstances can change without warning and this includes our finances. You may find yourself in a situation where necessary expenditures exceed your income. This is where payday loans seem like the only alternative: you receive money...