30 Dec
Posted by Hayley Crosby as Credit Score
Happy New Year everyone!
2011 was a wild year in America and also around the world.
Let’s hope this year will bring the start of a recovered economy and better lifestyle for all of us. Let’s hope the average credit score in America for 2012 goes up and helps Americans get the things they need.
More Americans will be hoping to buy a home in 2012 now that the prices have dropped and there are great deals on good homes.
Which leads me to our topic of 5 credit repair tips and techniques you can use in 2012 to improve your lifestyle, save yourself thousands of dollars and make your life easier.
Buckle Down Now that the holidays are over, it’s time to buckle down and save as much of your hard earned paycheck as possible. The holidays can take a lot out of your pocket, but luckily the first quarter of the year helps make up for it. Before summer hits, use this time to put away a portion of your paycheck each month. That money might go towards a new car or your dream home! If you need help with your budget, there is a specialized Budget Guide that comes with the Credit Repair Doctor™. The budget guide is easy and quick to use and it takes the lameness out of budgeting. It also helps
13 Dec
Posted by Hayley Crosby as Credit Score
I subscribe to a legal question and answer website where individuals ask questions about bankruptcy and attorneys, like me, answer them. In the last couple of weeks a number of people inquired whether or not it’s necessary to hire an attorney in order to file bankruptcy. The legal answer is no. It is not a legal requirement to have an attorney to file bankruptcy. In fact, I tell this to every potential client that comes into my office. You are under no legal obligation to hire an attorney to file bankruptcy.
However, the practical answer is different. Do I think it is imperative to hire an attorney to file bankruptcy? Absolutely.
While some bankruptcy cases are routine, the bankruptcy laws are complex, and it can be easy to screw up your case if you don’t know what you’re doing. If pr
04 Dec
Posted by Hayley Crosby as Credit Score
Florida statutes provide unlimited protection against wage garnishment when the debtor is head of household. This protection is very broad and effective, but some states have even better wage protection. Four states- North Carolina, South Carolina, Texas, and Pennsylvania- do not allow wage garnishment to enforce a commercial debt regardless of whether the debtor is head of household. I do not know if courts have carved out any exceptions from what appears to be an unqualified prohibition against wage garnishment in these four states. I do know that many Florida debtors, including most unmarried debtors and some business owners, are vulnerable to continuing wage garnishment up to 25% of their take-home pay.
Many of my clients consider moving to Florida because they believe we have the best debtor protection laws.
21 Nov
Posted by Hayley Crosby as Credit Score
Many people these days are facing divorce and bankruptcy at the same time. I’ve written blogs about the relationship between bankruptcy and divorce in the past, but the most recent question I received is one I have not addressed previously: “I have joint custody of my children and help pay for their expenses. Will I lose any custody rights if I file for bankruptcy?”
Bankruptcy does not affect custody rights. If you currently have a custody or visitation agreement or order in place and need to file bankruptcy, you can rest assured that the bankruptcy will not change the determination. It is important to note that any agreement or order regarding child support will also remain unaffected by the bankruptcy. Child
18 Nov
Posted by Hayley Crosby as Credit Score
Blog readers know that I am not a big fan of short sales. One reason is that my experiences with my legal clients is that lenders usually will not release owners from personal liability in most (I did not say “all”) short sales. The owner/debtor will work hard to find a short sale buyer and still live with the treat that the lender may come after him personally for a deficiency claim.
I met a real estate broker who assures me that he has great success negotiating liability releases in the course of short sales. This guy is not a lawyer; he is a real estate broker, but he owns and operates a relatively large real estate sales force. This gentlemen states that he is able to negotiate full releases of liability in approximately 75% of short sale transactions.
I am not going to disclose his full name because of confidentiality concerns. His
02 Nov
Posted by Hayley Crosby as Credit Score
A popular bankruptcy topic is how it can help you with your mortgage(s). Arizona has been one of the hardest hit states in the country by the housing market crash, and those affected desperately want to improve their financial situation. In desperation people turn to bankruptcy to solve all of their problems.
There are two common tools in bankruptcy that relate to mortgages. The first is called a “Lien Strip,” and the second is a “Cramdown.” It’s important to note that these tools are only available in a Chapter 13 bankruptcy. (Chapter 13 requires monthly payments.)
Lien Strip
A Lien Strip will not provide protection or relief from a first mortgage, but it does provide complete protection and relief from second mortgages or third mortgages if you have them (or home equity lines of credit). A Lien Strip