Legal Recourse Against Credit Reporting Errors

In the United States, having a good credit standing is a vital and necessary tool to everyday living. Your credit score has a direct impact on so many aspects of your life. Such aspects include your ability to obtain a loan for a car or motorcycle, your ability to get approved for a home loan, or an equity line of credit, your ability to get an affordable automotive insurance rate, a store credit card, a small personal loan and of your standard course credit cards.

In fact, your credit score also affects whether or not you can get an apartment or rent a home. These days many employers even consider your credit score when deciding whether or not to hire you. Meaning, a bad credit score can even affect your ability to get a good job, and thus your overall livelihood. Some people might not take their credit score that seriously, but it is serious. It's your responsibility as the consumer to check your credit report on a periodic basis in order to determine if there are any inaccuracies being reported, which in turn could directly affect your overall credit rating.

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The Difference Between A Civil Law From That Of A Criminal Law

Civil Law

Civil law deals with the enforcement of an oral or written contract. This would only mean that a certain entity is often involved in other cases except the commission of a crime. A wrongful act wherein the other party asks for damages is also under the civil law. When we mean civil law, it does not involve any crime. Civil cases often require more work for the lawyer or attorney because they need to gather evidences from different sources.

Most of the time, civil cases involve disputes between a person or an organization. A person or an entity who claims on their legal compensation or benefit is often called a plaintiff. On the other hand, the person or organization that the plaintiff requires the damages is often called the defendant, litigants or parties. Usually, the plaintiff often requires the defendant under the rules of law to provide him the respect and legal obligations deemed to them. A defendant is often required to give the plaintiff what is due to them.

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14 Red Flags of Loan Modification Fraud

1. Demand for payment up front
Be wary of loan modification companies who demand payment up front. This is the first sign that fraud may be in action. Only licensed real estate brokers can perform loan modification and charge you in advance before a Notice of Default is recorded. But this payment must be authorized by the Department of Real Estate (DRE) and held in a trust. Licensed lawyers who offer loan modifications as part of their practice as an attorney at law may also charge a retainer. However, be sure to get a written fee agreement before paying a retainer.

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Worried About Public Embarrassment? Discover What Debt Settlement Can Do For You

For whatever reason, whether it's your fault or not, you've overspent. You have so much debt there is no possible way to pay it all off. You could spend the rest of your life paying and it still wouldn't be paid off. You don't know what to do and that tight feeling in your chest won't go away. You can't sleep at night and those creditors won't stop calling. You're living in fear of being embarrassed at work and having you car repossessed. What do you do?

Once you've reached this point, there are only a couple of choices: bankruptcy or debt settlement. There are obvious problems with bankruptcy, specifically; your credit is ruined for the next ten years. Debt settlement is your next choice. It isn't perfect, but neither is the situation that you're in. Let's look at what debt settlement can do for you.

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Need a Financial Makeover? Some Aspects to Consider Before You Move Forward

If you sought a financial makeover you may have experienced the aspect of personal bankruptcy affecting your ability to get a good job. Many government and law enforcement jobs have routinely checked credit however since 9/11 occurred it has filtered into many other types of work as well. Pre-employment checks often consist of a credit report, among other things.

Many companies have taken the stance that character and productivity come with good credit. There are plenty of bad people in the world with bad credit. We all know them. But a lot of jobs look at how we handle our personal credit as an indicator of how we will perform under their direction.

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Student Loan Debt Collection

Student loans fall into the category of unsecured debt - debt that is not tied to a piece of collateral such as a car or your home. When you default on an unsecured loan, the lender, and by extension, any third party debt collector trying to collect on that loan, cannot threaten to take your home or car, garnish your wages or freeze your bank account. In order to do any of that, they need to go to court and obtain a judgment against you.

One of the defenses that the consumer has in the case of unsecured debt is the statute of limitations. Once a debt has reached a certain age, the debt holder or collector can no longer go to court to seek a judgment against you. The number of years varies from state to state, but every state has a statute of limitations to prevent debts from coming back to haunt you years down the line.

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Who Will Look After Your Affairs?

A Growing Need.

Dementia alone in the UK effects around 700,000 people according a recent Alzheimer's Society report. The same report predicts that as the UK population ages this number will increase significantly. Currently 64% of all people living in care have some form of dementia.

As from the 1st October 2007 citizens of England and Wales can no longer get an Enduring Power of Attorney (EPA) issued. The old form of Enduring Power of Attorney has been replaced by a new document called a Lasting Power of Attorney. The change is far more significant than the change of a single letter in the acronym used for each.

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Sliding Backwards - A Lawyer Takes a Bad Turn

It seemed like a normal day for David as he walked down the sidewalk on his way to get his morning coffee. David was a prominent criminal defense attorney living out his dream of becoming a legal legend. David was three years out of law school and already making a name for himself. He purchased a nice home, a nice BMW, good clothes, a pleasure boat and a country club membership. He was getting the high end white collar criminal cases. David felt his future was bright with better things to come. He never imagined he would need credit repair to get his finances back in order or a public relations firm to boost his reputation.

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Debtor's Prisons Are Making Their Ugly Return to America After Being Outlawed 200 Years Ago!

There are numerous articles posted online that describe cases where people appear to have been put in jail in some states for merely owing monetary debts. This can happen to debtors who either owe money to the court or to private parties. And this has happened in spite of the fact that debtor's prisons were outlawed federally in 1833. Most of the states followed suit after 1833 and included clauses in their constitutions prohibiting imprisonment for owing money to someone.

In spite of these prohibitions debtor's prisons seem to be making a comeback. There are states where it's possible to put someone in jail for failure to pay a debt. I am surprised that lawyers in these states have not put together constitutional challenges to someone who was thrown in jail for such a monetary debt.

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Before You Die - 6 Things You Will Need to Know Beforehand!

Don't be caught in a financial tragedy upon the death of your spouse. Here are 6 Important Things you need to be aware of and/or do before your death:

1. Probate

Probate simply means to prove the will and settle your estate. A judge makes sure that your heirs are notified and your debts and taxes are paid. Your estate is distributed according to your will. Keep current and accurate records of all your creditors, heirs, receivables as well as the locations of all your assets. It is important to make sure that the Executor has contact information for your heirs, creditors and anyone who may owe you money.

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Homeowner Options For Debt Relief

Homeowners have more choices for debt help than most people. In the eyes of lenders, homeowners are highly valued. After all, they have the financial ability to purchase a house, a person's largest investment. However, homeowners sometimes run into financial problems for a variety of reasons and seek debt relief. Money woes may involve the following situations:

Job loss Divorce Substantial credit card debt Large medical bills

If you own a home and are facing some money problems, it is extremely important to choose the debt relief option that best fits you. While there are a lot of options for homeowners to get out of debt, some can leave you in financial ruin.

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Lawyer Fees and Perception of Value Discussed

Does your lawyer charge you an arm and a leg? Do you feel like you are getting the short end of the stick every time you talk to your attorney, as if he or she is holding you out for ransom, even hiding the law from you so you have to pay them more? Do you think it is a giant conspiracy at the ABA American Bar Association and the consumer, small business, or client just cannot win? If so, you may be interested in learning the reality behind it all.

So, let's start from a free-market theory; something is only worth what someone will pay for it, and supply and demand determines the price in free markets. Thus, much of the lawyers pricing has to do with value and perception of value by you the consumer, customer, or client. There are three main items that dictate the perception of value of lawyers, practicing lawyers, which are actually working for you, not necessarily politicians which happen to have law degrees:

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What Are the Major Tax Settlement Options and What Makes You Eligible?

If you've underpaid or failed to pay your taxes for one or more years, you know how quickly tax debt can snowball. The IRS imposes hefty penalties and interest for late filing and late payment, and the longer you go without paying, the more those penalties add up. The good news is that if you meet certain criteria-in particular, if you can prove that you did not set out to defraud the IRS and do intend to pay what you owe-you may be able to negotiate a tax settlement. What are your tax settlement options? It depends on your specific circumstances. Talk to a tax expert such as a tax attorney or a CPA to get advice for your situation.

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Directors and Officers Liability - Bleak Days For Directors and Officers

In a June 18th webinar sponsored by Zurich Financial Services in London, a forum was held to discuss director and officer liability exposures.

These are bleak days for corporate directors and officers.

In 2008 there were over 150,000 insolvencies in Western Europe alone. In the first quarter of 2009, the United States had over 5,000 corporate insolvencies. Mario Vitale, CEO of Zurich's Global Corporate Division, predicts over 62,000 American corporate insolvencies for 2009, an increase of over 56% from the previous year. And the bankruptcies are not limited to the financial sector. They are widely spread over every type of business.

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When To Hire A Lawyer

Lawyers represent clients accused in criminal and civil litigation, prepare legal documents and guide clients on lawful proceedings.

The job of a lawyer is not simple as resolving conflicts between people and administrative authorities is exasperating and can become topsy turvy being wedged in legal hassles. Lawyers are appointed by people convicted in the crime as they are acquainted with the laws of the County.

Good clarifying skills are a must in order to make their points and history of the case comprehensible in the mind of the judging authority. People accused of bankruptcy hire bankruptcy lawyers to get their cases solved. Lawyers generally solve bankruptcy cases by getting the accused to repay the debts of the bank. When a person meets with a catastrophe, they appoint personal injury lawyer in order to get the offender reimburse for emotional and physical ordeal he has caused due to his slipshod practices.

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Mortgage Forgiveness Relief Act of 2007

The U.S. real estate boom of the past ten years has seen homeownership rise from 65% to 69%. Unfortunately with the market cooling the value of real estate is plummeting leaving homeowners holding mortgages that greatly out value the real estate they presently hold. There is now something that can help.

The Mortgage Forgiveness Debt Relief Act of 2007 was enacted on December 20, 2007 to assist homeowners who are in such a predicament. Normally, a homeowner, in an attempt to avoid foreclosure would modify their current mortgages, that is, "short sell" the property, or deed their home in lieu of foreclosure back to the bank holding the lien on the property. Such remedies often leave the homeowner with a debt for property no longer in their possession. In most situations the lender would forgive the homeowner's debt either in part or full. Unfortunately this left the homeowner facing an additional and in most cases, undischargable financial difficulty, the IRS. That debt which is so graciously forgiven by the lender is now recognized as taxable income by the IRS. The homeowner receives a tax bill for the forgiven amount for money forgiven and never truly received. 

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Debt Consolidation Primer - Four Things You Can Do to Get Out of Debt

Problem debt is rampant throughout America. In addition to mortgages and auto loans, the average household in the U.S. has nearly $10,000 in credit card debt. As the major credit card companies have recently doubled their minimum payment requirements, now is a good time to outline the various options available to most consumers who have more debt than they can handle.Stop spending money on nonessential items. "Nonessential" is difficult to define, but it more or less means anything that isn't absolutely necessary to live. Phone bills, mortgages, and groceries are essential. Lattes at Starbucks, satellite television, and meals from fast food restaurants are not. By cutting out all extra spending, you can probably save several hundred dollars per month. That money can be used to reduce debt.Consolidate your debt. If you have more than one credit card and your accounts aren't all at their limit, you can transfer balances from higher-interest accounts to those with lower interest accounts. Alternatively, if you own a home, you probably have accumulated some equity. You can obtain a home equity loan or line of credit and transfer some of your debt to that loan. As a bonus, the interest on home equity loans is tax deductible. Be careful, though. If you transfer your debt to a home equity loan, you can lose your home if you do not repay it.Find a reputable credit counselor. This will soon be a prerequisite to filing for bankruptcy, thanks to a recently passed Federal law. Counseling agencies can negotiate with your creditors to help you establish a repayment plan that you can afford. They may be able to have interest rates reduced or have late fees waived. Most agencies charge for their services, but the reputable ones limite their fees to what you can afford to pay.File for bankruptcy. This is not a decision to be taken lightly, as a bankruptcy filing will remain on your credit record for ten years. By filing for bankruptcy, you declare to the courts that you cannot repay your debts. Most consumers are currently allowed to file under Chapter 7 of the Federal code, which allows the courts to wipe out most debts. This will change this fall, as recently passed Federal legislation takes place. The new regulations will likely require a repayment schedule, and attorney, and higher filing fees. Bankruptcy can help you get a fresh start, but it's not a magic solution. It will be quite difficult to reestablish credit after a bankruptcy filing

Having more debt than you can handle is a serious problem, but like most problems, it is one that has available solutions. The first step is to act promptly, as unattended debts only grow larger. With time, patience and diligence, most consumers can overcome the burden of excessive debt.

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The Nightmare of Foreclosure Does Not End There!

People have their own views about foreclosure. For most it is nothing less than a disaster to lose their own home. But for a few others it is just a narrow escape and they again start to look for a new, cheaper home elsewhere.

Apart from how you react to foreclosure, you should also be aware of the consequences this foreclosure has on your tax obligations. When a homeowner loses his property due to foreclosure, the mortgage lenders try to sell off the property to pay off the loans. But many times the money is not enough to cover up the mortgage. In such case the bank will have to sell your home at a loss. This transaction technically means that original homeowner has still not paid the full due amount and there is a residual balance he owes to the bank. This is also possible in case of other types of loans and unpaid credit card dues as well.

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Stress-Free IRS Tax Debt Relief

Tax settlements appear to be probably the most practical alternate option on the subject of tax debt relief. This kind of solution is a superb method to take care of your tax debt simply by having to pay a percentage of the balance due. Considering that this can be a case to case basis, the actual resolved sum can vary.

If you would like deal with the IRS for an achievable settlement, you need to put together the particular required written documents along with other records which could help you in the negotiation course of action. Should you be unable to report your taxation statements, the IRS will go after you and will call for you to definitely reconcile your back taxes. This is simply not the moment to panic or have an anxiety attack.

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How Can You Avoid Foreclosure?

Unfortunately, in this current economy, many homeowners may find themselves behind on mortgage payments before they even know it. Foreclosure defense is an option that may greatly help your circumstances if you are facing a pending foreclosure or are already in the process of foreclosure proceedings. Many homeowners do not know that they are able to retain legal counsel in these situations, but the facts are you do have options. It is best to contact an attorney as soon as you are falling behind on payments, because in most cases, the quicker you deal with the bank, the better your situation will be.

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Finding the Best Birth Injury Lawyer For Your Case

Though the birth of a baby is one of the most joyous events of a parent's life, of every 1,000 babies delivered in the U.S., five experience birth injuries. These injuries can result when a baby does not have enough oxygen during labor, or when a doctor uses medical devices improperly. When this happens, a competent birth injury attorney can help you seek redress.

Before a birth injury attorney accepts a case, he or she must know if birth complications were caused by birth injury, or if they were the result of a birth defect that occurred prior to delivery. Birth defects occur during the pregnancy as a result of a genetic defect, disease, or even drug use by the mother.

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Elder Law - What is It?

Elder Law involves the legal issues that result as a consequence of the aging process. This is a rather narrow field and can be a little confusing to some senior citizens.

Many seniors have legal problems that are similar to people in their thirties and forties; for example, wrongful termination (employment), bankruptcy, or real estate disputes. Sometimes a potential client calls an elder law attorney to obtain, for example, family law advice regarding a possible divorce. That lawyer explains that family law and divorce issues do not fall under the category of elder law. Elder law pertains to persons who, generally, are 65 years of age or older. Nearly always, the client responds by saying: "But I'm over 65 years old".

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Irresponsible Need a Job?

Let's face it so many people these days are so completely irresponsible one has to wonder what type a job they might be able to hold? One career path, which might fit the bill for a totally irresponsible person is to become an Attorney at Law. Now you might think that attorneys are responsible, but you are mistaken. You see not only are attorneys irresponsible but they help others who are irresponsible pretend to be responsible and re-assign their responsibility to another, an organization or an agency; that in itself is irresponsible as a citizen. Assisting another to defraud and forgo their duties to society and yet retain the efforts of the whole of that society or steal from the labors of another for that which you did not earn is irresponsible; how on Earth could it be another other than that.

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Mesothelioma Compensation - What is Fair?

Mesothelioma is an aggressive cancer which is usually caused by exposure to high amounts of airborne asbestos dust. This exposure was typically caused working in industries where asbestos was present and being used. Due to the industrial nature of this material, many class-action lawsuits have been filed to deal with mesothelioma compensation for its victims. There were such staggering numbers of cases going through the courts, that in 1999, the US government enacted the Fairness in Asbestos Compensation Act which limits compensation to those who have actually become sick due to their exposure.

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Advice on Dealing With a Foreclosure

In the event that you cannot keep up with your mortgage payment, you have a few options to salvage your reputation. The immediate thing you need to do is to talk to the lender about your problem and to ask for considerations. There are lenders who consider giving homeowners a leeway, allowing them to fix their financial setbacks before opting for a foreclosure. On the other hand, some lenders are inflexible and will proceed right away to foreclosure once you fail to meet your part of the agreement. When foreclosure approaches, it is wise to get a foreclosure attorney to help you out in the process.

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Businesses Plagued by Bad Solutions to Debt Problems

People in debt have always been prime targets for con artists who promise them easily solutions to their debt problems. But consumers aren't the only targets. A new generation of sharks has targeted the business debtor and the average bankruptcy lawyer in New York has many stories about clients who have fallen for these games.

Consolidation Debt May Make the Problem Worse

Often before seeking the advice of a bankruptcy lawyer, business owners will try to resolve the debt by refinancing it at a lower rate. On the surface this is a reasonable solution but if done without the advice of an experienced accountant, it could make the problem worse. Sharp loan officers may talk companies into loans they don't really need.

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The Pros and Cons of Refinancing

One common way that individuals try to pull out of debt is through refinancing. Refinancing requires individuals to take out loans that pay their other loans in full. There are several advantages and disadvantages to this, and it is important to note that certain pros and cons may not apply to everyone.

Among the most positive outcomes of refinancing is debt consolidation. Individuals can cut down the number of monthly payments that they have, which often means a lower monthly payment. A lower monthly payment is key in refinancing, and there are several ways to obtain one.

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Stall Your Foreclosure - How is it Done

The procedure of foreclosure is one of the most traumatic experiences a person can go through. What if you could have an additional two years to save up your resources and prepare to move out of your house?

Stalling foreclosure up to two years through the method of appeals and bankruptcy is possible. This is due to the fact that anybody experience foreclosure must not easily give it back to the bank without observing their full rights as owners of the house. As an owner, it is your duty to get to know your rights and make sure that you exercise them when it you need to do so.

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High Cost of Legal Services - Is There a Better Way?

7 out of 10 Americans' had a legal situation last year that could have benefited from some advice from an attorney. There are times that we must have attorney representation for issues like divorce, child support, child custody, bankruptcy, real estate transactions, foreclosures, criminal issues, and business matters. Yet, there are other situations in which it would be nice to be able to have access to an attorney if we needed some advice on other legal issues. Common legal issues facing American families today include credit issues, employment issues, landlord tenant issues, tax questions, employment issues, bad neighbor issues, and consumer issues.

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Credit Card Debt - Elimination or Consolidation

You're at the end of your rope and you simply can't do it anymore. You're drowning in debt and sick and tired of trying to gather enough money each month just to make the minimum payments due on your credit cards. You can be certain that you're not alone. There are many people who are facing a financial crisis much like the one with which you're dealing. It's overwhelming and scary, especially if your accounts are delinquent and you're receiving threatening and harassing calls and letters from debt collectors. Take comfort in knowing that you will overcome this financial burden because, fortunately, there are options available to you.

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Super Bowl Trouble - Financial Meltdown of Professional Athletes

According to a Sports Illustrated article, approximately 78% of NFL players are seriously struggling financially after two years of retirement (whether voluntarily or not). That same article compares the life and lifestyle of professional athletes to lottery winners. For the most part athletes have short careers that provide them with a significant sum of money in a short period of time. Most athletes have gone from high school to scholarship-funded college athletics to the pros. Most do not have any budgeting or accounting background. I think we can all look back and think what we would do if at age 20 someone suddenly gave us all the money, notoriety, and possessions we could want. The problem is that, for the most part, all three generally last only a few years.

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Credit Scores - What Affects it and How it Affects You

Credit scores are fickle and hard to predict. Credit scores are determined by analyzing credit records and are supposed to show a person's creditworthiness. Since the score uses so many different factors, it is impossible to know for sure how much an action will raise or lower your score. Different actions will impact your score in different ways, and those ways can change based on your current score.

Here are some of the more common ways to sink your credit score:

Maxing out a credit card:
It does not matter if you leave the bill unpaid or pay it back immediately: maxing out a credit card will drop your credit score. This is because maxing out a card is a sign that you are not doing well financially. Depending on the situation, you could lose anywhere from 10 to 45 points from your score this way. This is not that big of a drop, but it is still worthwhile to check your credit limit often so that you do not exceed it.

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5 Steps To Stop Foreclosure

Stop Foreclosure Now - 5 Steps: When you default on your successive mortgage payments, the lender may foreclose on your property. Foreclosure is a legal process when you default on your mortgage payment and the lender repossesses your commercial lien property or home. The lender's attorney will try to get a court order to foreclose on the property of the debtor. However, in the US, the debtor may be able to stop foreclosure by filing bankruptcy or negotiating settlement with the creditors. But the best way is to have the government do a debt loan payoff to get rid of the note and mortgage lien so you can have a free and clear commercial property or home.

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Legacy Planning - A Holistic Approach

While "Estate Planning" is the process of planning to pass assets from one generation to the next, "Legacy Planning" is the next generation of Estate Planning. Estate Planning is the starting point, but Legacy Planning takes it beyond the basics. Legacy Planning recognizes that we are more than the material wealth we have acquired. Our material wealth is just one part of the equation. When we leave this life, we will leave more behind for our children. Perhaps more important than the material wealth is our value system, our guidance, and our protection. While we cannot stay with our families after we are gone, we can pass on our values and continue our guidance and our protection.

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Here Come Collections (Collection Letters) - What to Do?

There are, at least, three sources of collection letters: from the original creditor, the collection agency, and then from an attorney (hired by the creditor or the collection agency).

Several weeks after a bill is not paid, the consumer can expect the creditor to write a polite letter saying that they did not receive the payment, that perhaps the due date was overlooked, or maybe the consumer already sent the payment a little before this letter, and if that's the case - they apologize and thank you for the prompt payment.

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Credit Repair Lawyers - 3 Scenarios Where They Can Help

Not everyone needs a credit repair lawyer to improve their credit score. This isn't to discredit the job that these professionals do in the industry of credit repair, rather to make the point that you can repair your own credit depending on the items you need to dispute, challenge, and/or remove.

How ever there are those cases and individuals that are suffering from a very low credit score, and just haven't been able to catch a break in their personal financial lives. These folks are the ones who should really consider the assistance of a credit repair lawyer, not just because they need the job done quick, but also because there issues need more attention then just a form dispute letter sent into the credit bureaus. If this sounds like you're scenario, and any of the following items pertain to you consider seeking the assistance of a lawyer to help remove the items, and improve your credit score.

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Understanding a Franchise Disclosure Document

The Franchise Disclosure Document (FDD) - An Overview

If you're serious about buying a franchise, at some point you're going to receive and review a Franchise Disclosure Document (FDD). The purpose of the FDD is to give the potential buyer detailed information on the investment details, ongoing fees and obligations of both the franchisor and franchisee. According to federal law, governed by the Federal Trade Commission (FTC), you must receive a copy of the FDD a minimum of 14 days prior to signing any agreement with the franchise.

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I Received a 1099 From My Home Equity Lender - Tax Consequences of Foreclosure - With a HELOC

It is common for homeowners to have a house that is "upside down", many with first and second mortgages. Houses that were purchased a number of years ago appreciated rapidly in a short period of time and it was easy to pull on the home's equity by securing an equity line of credit. That equity may have been used for many purposes, including home improvements, constructing a swimming pool, funding college educations, purchasing new cars or boats, paying off credit cards and investing in businesses. These loans are second loans behind the original purchase money loan and are commonly called Home Equity Lines of Credit or Home Equity Credit Lines ("HELOCs").

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Upside Down Home Owners Face Tough Choices - What Are the Alternatives?

Homeowners who are "upside down" in their mortgages face tough choices. Their home equity evaporated when the recession hit, and now they owe more on the property than it is worth. Perhaps they have lost their jobs too. They look around the neighborhood and see that properties similar to theirs are selling at two-thirds or even less of their mortgage amount. What action should they take? What are their alternatives?

This is not an unusual situation. The percentage of homeowners who are upside down on their mortgages varies by area, but is as high as fifty percent in some locations. Moreover, millions of homeowners have lost their jobs or suffered a medical setback that aggravates the effects of the recession.

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Debt Settlement - The Simple Facts

The current state of many families' finances is somewhat of a tragedy due to the lack of proper laws in place to protect consumers from outrageous fees and interest rates charged by the issuers of credit cards. Subsequently, people find that making even their minimum monthly required payments is nearly impossible, thus resulting in a search for the best path to become free from the grip of creditors.

Most people have a strong desire to eliminate their debt ethically and lawfully, and at the same time have that same desire to avoid bankruptcy. If you find yourself in this situation you may have conducted a great deal of research and learned that debt settlement may be an option you'd like to review further in an attempt to avoid bankruptcy.

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Which Chapter Bankrupt Should You File?

Comprehending the categories of bankruptcy may appear confusing and difficult. The majority of people have heard the numbers and chapters, however have no concept what they mean. The 4 principal sorts of bankruptcy are Chapter 7, Chapter 11, Chapter 12, and Chapter 13. These designations are rooted in the chapters, or elements, of federal financial laws describing bankruptcy.

Chapter 7 is the most widespread type of bankruptcy and is frequently called "personal" bankruptcy. It's commonly utilized by individuals, but a few businesses could be eligible to file under Chapter 7 too. Should the filing of this type of bankruptcy be accepted, nearly all debts are canceled and debtors are forbidden from attempting to collect on the written off debt.

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Timing is Everything

As we move closer and closer to the final implementation of the Bankruptcy Reform Act, many US citizens are making a mad dash to their local attorney's office. Rightfully so, as the Bankruptcy Reform Act will institute many changes that will ultimately make the declaration of bankruptcy a much more difficult task. But as you ponder the notion of a flood of bankruptcy filings, also realize that many of the major credit card issuers in the country are making changes to their guidelines that will cause monthly payments to go up and in many cases, almost double.

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Keeping Your Legal Resume Fresh

Legal resumes have a short shelf life. They are like dairy products; you need to check their expiration date often. When does a legal resume expire? When the date of your last position is a calendar year behind the times. In other words, if your last position ended in November 2009, and you are finding yourself in calendar year 2010 without a new entry, you can consider your legal resume to be stale and in need of immediate attention.

If you were recently laid off or have been out of work for less than six months, potential employers will ask why you are out of work, but you will still be considered for positions. If you have been out of work for more than six months, with nothing new on the legal resume to show for, you will soon discover that the job search has just gotten that much harder. Inevitably, employers will go from questioning what happened with your last position, to why you are still out of work, why no one else has snatched you yet, and what you have been doing with your time.

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New Jersey Lawyers

As defined in the United States, a lawyer is a person who is licensed by the state to advise clients in the legal matters and to represent them in the court for any kind of dispute resolution. Lawyers are known with different names in different countries including advocate, attorney, barrister, or solicitor, but they all play the same role of advising and representing their clients in legal matters.

There could be various situations wherein you might require the services of a lawyer. If you are caught or trapped in a situation where you are under the eye of the law in your state, then a lawyer is the only person who can save you from the wrath of the state's law and advise what is good for you. In small civil cases, you might succeed on your own, but many times you may find yourself in a situation where only a lawyer can come to your aid, he is well aware of the law of in the state. For example, in a case of an accident, it might be difficult for you handle your own case as it involves complex legal and factual issues--issues that can be best sorted out only by an attorney who is trained in handling such cases.

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Choosing the Right Lawyer for the Job

An event happens in your life and the effects are substantial, perhaps even potentially catastrophic in terms of the financial ripple effect and the reduction in your daily quality of life---what do you do? In many scenarios (injuries, accidents, instances of unfair treatment, occurrences of theft and fraud, etc), one of your first thoughts will be to get a lawyer, naturally. But where do you get a lawyer and how do you go about choosing the right lawyer?

Here's how most people do it: 1. get a referral from a friend, neighbor, or relative who has experienced a similar situation and has also required the services of a lawyer; 2. look in the yellow pages under a plethora of attorney categories; 3. look online.

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Mortgage Elimination- A Horrible and Sure Way to Lose Your Home to Foreclosure

"Own your home free and clear in 3 to 4 months. Note paid in full!"

How does this statement sound to you? Does it bring out a sentiment of grand larceny or does it peek your interest as a means to quickly and legally increase your personal net worth? Would it be moral to cancel a debt you made in such an easy and unfathomable manner? Most importantly, if you were behind on your mortgage would you pay someone $3,000 to perform this elimination service for you?

Unfortunately, the answer for many homeowners is "Yes". The statement used above is an actual sales line from a website that promotes mortgage elimination. The Better Business Bureau has issued a national fraud alert for this type of program that is sweeping the nation by way of the internet.

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Secrets to Stopping a Credit Card Lawsuit

Have you been in a situation where you couldn't catch up on paying your credit card debt? I bet that would have led you to entertain thoughts of not paying it. Well, should you? I suggest you rethink your strategy. Totally ignoring your credit card bill is just inviting a credit card lawsuit. Even if the debt is marked as a charge-off on your credit report, credit card companies would still like to get at least a portion of the debt paid. To do that, they would file a lawsuit. They would request the court to order a wage garnishment or worst property seizure. I have been fortunate to know a few ropes when it comes to handling credit card lawsuit. I want to share them with you. So here are things you can do to thwart a possible lawsuit.

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What Are Your Alternatives to Foreclosure?

One of the greatest mistakes that people make is ignore notices from their mortgage lender. Unless you are planning to live in your house for as long as possible and intend to allow the bank to foreclose on you - you have to start taking action now.

There are alternatives to foreclosure and the more familiar you become with them, the more you will be able to take control of your situation. It would be unfortunate for you to lose your home to a situation that could have been repaired with the right assistance from a foreclosure defense attorney.

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Divorce and Tax Returns

Should we file joint or separate tax returns?

You may only file a joint return if you are married at the end of the tax year (December 31) and both of you agree to file and sign a joint return.1 The box you check on your return is "Married filing jointly." Same sex couples and domestic partners cannot file joint returns. You qualify as married even if you are separated as long as there is no final decree terminating your marital status. A temporary pendente order does not affect your marital status. However, if the divorce is final and your marital status is terminated by the end of the tax year your filing status is either "single" or "Head of household."

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What is the Means Test, and How Does it Apply to Me?

Chapter 7 bankruptcy is the liquidation of your assets in return for having your debts pardoned. Chapter 13 bankruptcy lets you work with the court to find a way to pay off your debts. In order to prevent people from abusing Chapter 7 proceedings when they could be paying off their debts through Chapter 13, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 created the means test.

The means test uses a series of calculations and deductions to determine if a person is abusing the Chapter 7 bankruptcy system. The monthly income of the debtor over a five year period has to be less than either $10,000 or whichever is greater between 25% of the unsecured debt owed and $6,000.

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