As Chapter 20 bankruptcy rulings are rounding the circuit court system and gaining momentum, there is one instance where the application of lien stripping second or third property liens may be hitting a snag.
Stressing over mounting debt and other financial issues could actually cause your intelligence level to drop. According to a combined study done by several top universities, worrying over money can reduce your IQ score by up to 13 points.
You fought the good fight, but it was not enough. Due to financial hardship your family home has gone into foreclosure status and you are now facing eviction in your home state of Illinois. Not only are you reeling from the emotional pain associated with losing your home but you are also regretting not contacting an experienced foreclosure attorney at the onset of your financial difficulties. Now you are left wondering what happens next.
Facing the loss of your family home to foreclosure was not part of your American dream. Every nook and cranny holds a cherished memory, but due to economic hardship you are unable to continue making your mortgage payments. You are quickly approaching the end of your 90 day grace period. There is no other recourse, the bank is planning to call in the loan. You are now facing foreclosure and can not wait for the nightmare to end, but for many unsuspecting homeowners it may continue to haunt them for another 20 years.
If you’re looking to get a mortgage through the Federal Housing Administration, there are several important factors to consider. FHA will review your credit history in order to determine what kind of a loan risk you are, but it is possible to get an FHA mortgage even if you have previously filed bankruptcy. Learn more about the stipulations attached to this guideline by talking to your bankruptcy attorney.
The rate at which professional football and basketball players are filing for bankruptcy after retirement is being discussed with increasing frequency across the NFL and NBA. The issue is not confined to those to sports alone, though, as some of the biggest athletes in a variety of sports – Warren Sapp, Dennis Rodman, Mike Tyson, Marion Jones – are broke.
Many people struggle with debt at one time or another. But how do you know when that struggle has become a serious one and you may need to consider consulting with a bankruptcy attorney to see what your options are?
Bankrate offers consumers signs to watch for that the organization says should serve as warnings that financial difficulties may be more than a bump in the road and serious attention is needed.
Eight years ago, President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) into law. This law restricted a person’s right to file Chapter 7 bankruptcy to once every eight years, causing many to impulsively file for Chapter 7 bankruptcy in Illinois before the law went into effect. Unfortunately, many filed too early for their situation, causing them to lose homes and other assets without any further preventative help available.
Americans have lots of debt. Not all debt is bad, but if you land in a tough financial situation, debt can feel like an invisible weight around your neck. Enter the debt collector. This post discusses how to understand and communicate with debt collectors:
Filing for bankruptcy is not an easy decision. While it is true there are repercussions to filing for bankruptcy, your future is probably not as bleak as you are envisioning. Your financial and psychological recovery from bankruptcy will be easier if you approach it with a positive attitude.