Archive for November, 2009

Bank of America Helps 10,000 Homeowners Avoid Foreclosures

In an effort to help borrowers with Countrywide subprime and option-ARM mortgages avoid foreclosure, Bank of America created its National Homeownership Retention Program (NHRP), providing mortgage relief to 100,000 eligible homeowners in just 10 months. In the third quarter alone, more than 31,000 customers received assistant through the NHRP, according to the bank’s quarterly progress [...]

November 30, 2009   Posted in: Bankruptcy News  No Comments

States Want Coordinated Crackdown On Debt Relief Firms from our November Newsletter

By Mark Huffman, ConsumerAffairs.com  10/27/09
The attorneys general of 40 states have asked the Federal Trade Commission to tighten regulation of companies offering debt relief services to consumers. The FTC is currently reviewing a new rule proposal to amend the current Telemarketing Sales Rule.
The move follows a number of individual actions by various states. Earlier this [...]

November 25, 2009   Posted in: Bankruptcy News  No Comments

Tennessee Unemployment Rate

Tennessee’s  unemployment rate is now 6.9% and Nationally the rate jumped to 9.5%.
Tennessee workers will have another means for filing initial claims for unemployment insurance. This new service is a temporary measure to help relieve the state’s overloaded telephone network for processing claims.

During the meetings claimants will complete their required forms.  They will be prepared [...]

November 25, 2009   Posted in: Bankruptcy News  No Comments

Mortgage delinquencies hit another record in 3Q

Mortgage delinquencies hit another record in 3Q
By EILEEN AJ CONNELLY (AP) – 3 days ago
NEW YORK — The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall delinquency rate hit another record, a new report shows.
For the three months ended Sept. 30, 6.25 [...]

November 20, 2009   Posted in: Bankruptcy News  No Comments

More Reasons People File for Bankruptcy

Stop Harassing Creditor Calls.

Often, creditors will persistently call the home of a particular debtor with demeaning and abusive behavior. Not only is this unethical it can rise to the level of unlawful. Bankruptcy can  stop the harassing phone calls and other inappropriate behavior.

If your home is in risk of foreclosure then your utility bill may [...]

November 19, 2009   Posted in: Bankruptcy News  No Comments

Why People file for Bankruptcy

Eliminate Many of Your Debts.

This is achieved through obtaining a discharge of debts. The goal of a discharge is to reduce debt and give you a fresh start.

Stop Foreclosure

If your home is in foreclosure, a Chapter 13 bankruptcy can stop the proceeding prior to the sale. However, bankruptcy does not eliminate mortgages on your [...]

November 18, 2009   Posted in: Bankruptcy News  No Comments

What Will it Take to Pay off my Credit Cards?

Interested in what it would take to pay off that credit card or two you have. Click here to find out how long it could take you.

November 17, 2009   Posted in: Bankruptcy News  No Comments

Top Credit Card No No’s

1. Don‘t make only the minimum payments. This stretches out your payment and, thanks to the interest, significantly increases your overall cost.
2. Don’t carry too many cards. Multiple cards make it easier to rack up debt because it’s harder to keep track of your spending. Having a lot of cards [...]

November 12, 2009   Posted in: Bankruptcy News  No Comments

Interested in Where the $8,000 Credit is Going?

First time home buyers in the the year 2009 were fortunate enough to receive a tax credit worth up to $8,000. Nearing the end of this year the offer will expire and  some may wonder what areas took most advantage of this once in a life time offer. Click here to view a map of [...]

November 10, 2009   Posted in: Bankruptcy News  No Comments

Check Your Area’s Unemployment Rate vs The National Average

Here is a graph of unemployment up until 2005. As you can see unemployment rates were worse in the early nighties than in the early two thosands. However if you visit this website: Interactive Map of unemployment Rates the map indicates that the current rate of unemployment has far surpassed that of the rates in [...]

November 9, 2009   Posted in: Bankruptcy News  No Comments