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Author Archives: Jeff Aleman

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What is Actually in a Credit Report?

You could look yourself: AnnualCreditReport.com is the only source that provides truly free credit reports, once every 12 months, without asking for your credit card information, enrolling you in a “free trial” for some paid service, or pushing you to pay for various extras. And here’s what you will find: Identifying information: Includes your name,… Read More »

Putting an End to Debt Collector Harassment

Anyone can fall behind on their bills. And creditors certainly have the right to let you know that you are behind on payment and to ascertain whether you intend to pay your bills at all. But creditors do not have the right to harass you in any of the following ways: Using foul or obscene… Read More »

What is Foreclosure and How Do You Avoid It?

Banks initiate foreclosure on homes in an effort to recover the outstanding balance on a mortgage or loan on which the borrower has stopped making payments. Mortgages and other home loans are categorized as secured loans — loans taken against specific, physical collateral. If you fall too far behind on your loan payments, the lender… Read More »

Some Tips to Avoid Having Your Car Repossessed

The rate of default on car loans reached an eight-year low of 1.03 percent in May 2012 — but even at that rate, millions of vehicles will be repossessed in the United States this year. Below are some tips to avoid becoming another casualty of the repo man. 1. Communicate. If your personal finances have… Read More »

Bankruptcy and IRS Levies

When taxpayer cannot or will not pay their taxes, the IRS has two primary means of recourse: tax liens and tax levies. A lien is a type of legal claim to your property, which involves notice to creditors that you owe the IRS money and that its claims take priority. For example, if you have… Read More »

Excessive Consumer Spending Versus Economic Stimulus

Bankruptcy presents somewhat of a paradox. It is a deterrent to excessive consumer spending but can also serve as an economic stimulus. On a personal level, people understand that spending more than they earn results in financial problems. However, sometimes for a business to get off the ground, some investment risk is necessary. This is… Read More »

Could More Be Done to Bolster a Housing Recovery?

Today, foreclosure and filing for bankruptcy go hand-in-hand for many people. An article published by the National Association of Consumer Bankruptcy Attorneys (NACBA) addressed the need to accelerate the housing recovery. The author echoed the opinion of U.S. Federal Reserve Chairman Ben Bernanke in an address about the housing market that he gave to central… Read More »

Why Legal Help Is Vital for Bankruptcy

Many people do not realize the complexities involved with filing bankruptcy. The U.S. Courts’ website contains numerous bankruptcy forms. Understanding the forms alone is an overwhelming task. Bankruptcy filing must also comply with tax laws and protect against any potential challenges from creditors. In addition to providing expertise and legal advice relating to the feasibility… Read More »

Student Loan Debt Rises on the Consumer Debt List

News media outlets such as the Washington Post, CBS News, Fox News, and MSN Money all took their cue in reporting concerns over the fact that student loan debt rose above other key consumer debts. According to a 2012 report issued by the Federal Reserve Bank of New York, student loan debt has reached approximately… Read More »

Proposed Legislation to Deal with the Growing Problem of Student Loan Debt

A Senate judiciary subcommittee is looking into the nation’s growing student loan debt problem. Government data revealed that there was a 15 percent loan default rate at private institutions in 2009. Senate Majority Whip Richard J. Durbin convened the judiciary subcommittee and sponsored legislation to allow individuals to discharge private student loan debts through bankruptcy…. Read More »