Short Sales Will Have Increased Tax Consequences Starting In 2013 An important tax provision that allows underwater homeowners to short sell their home without tax consequences will expire at the end of this month. Earlier this year I wrote about this tax provision. You can review that article here. Briefly stated, any discharge of indebtedness [...]
Consumer Alerts
Our Credit Scoring System is Biased Against Renters
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Credit Score Accuracy: Theory or Reality? In theory, a credit score is an accurate reflection of the collective payment history of a borrower. Missed a credit card bill three years ago? Mr. Mortgage Lender will see it. Credit scores take on an important role in underwriting because lenders rely on past performance as an indicator [...]
Capital One Leads New CFPB List of Credit Card Complaints
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The Consumer Financial Protection Bureau has recently implemented a very user friendly database to show consumers which credit card companies have the most complaints filed against them. Although the database was just put into place on the web, and is still apparently in beta format, it is interesting to see how many claims have come [...]
What is a judgment? Can bankruptcy help?
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A judgment is a legal determination that you owe a debt A judgment is really just a piece of paper signed by a judge that says you owe a debt. For example, in the event you can’t pay a credit card on time, the bank has no immediate recourse. They can call and write, but [...]
HSBC Reaffirmation Agreements Don’t Quite Add Up: Are the Errors Intentional?
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Problems With Reaffirmation Agreements of HSBC Subsidiary A couple months ago, I got a call from a prospective client (who we’ll call Jim). At the time he called, Jim was involved in a pro se adversary case involving a dispute over the terms of a reaffirmation agreement. As I learned more and dug deeper, it [...]
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