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 [...]
Debt Settlement
Negotiate With a Chapter 7 Trustee, Not The Credit Card Company
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You Have Valuable Property But Need to File Bankruptcy, What to Do? So you have some excess equity in your car of some other assets, but you cannot afford a Chapter 13 repayment plan and your income is under the median income for your family size. You still need a bankruptcy discharge to get a [...]
The Length of Time It Will Take to Rebuild Your Credit – With or Without Bankruptcy
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Bankruptcy and Your Credit Clients are always concerned about their credit score. It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option. Although bankruptcy does have an effect on your credit, the effect [...]
Alternatives to Mortgage Foreclosure in Montana
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“A full-fledged recovery in the housing sector will likely elude the U.S. in 2012.” — Frank Nothaft, chief economist for mortgage-finance company Freddie Mac A rising number of foreclosures and a stagnant economy add up to another difficult year for Montana homeowners. If you are one of the thousands of Montana homeowners in danger of [...]
Why Filing for Bankruptcy is a Better Choice than Credit Counseling
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Is Credit Counseling a Step in the Right Direction? Credit counseling most often involves consolidating outstanding debts as much as possible and then developing a negotiated repayment plan for a reduced payment over time to all of your creditors. Credit counseling is often a first step taken by those who have significant debt due to [...]
Credit Card Lawsuit Defenses
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What to Do When You’ve Been Sued by Your Credit Card Company So you have been sued and are wondering what to do next. The first thing aside from having a lawyer review the Complaint is to carefully read everything yourself and determine how long you have to file an Answer at the Courthouse to [...]
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