Chapter 13 is where “… debtors propose a repayment plan to make installments to creditors over three to five years.”
Chapter 7 is where all debt is wiped off. This is a lot more strict. Most people will not be able to file for Chapter 7.
The Time has written an article about record bankruptcy filings. Read more in this article.
Filing for Chapter 13 costs money and time. We provide debt negotiations to help reduce your debt from 40% – 50%. Chapter 13 does not provide such features nor will it provide you with income protection.
Please contact us for help..
]]>“More than 52 million people receive old age or disability benefits from Social Security. The average benefit for retirees is a little under $1,200 a month. Disabled workers get an average of $1,100 a month.”
“The recession is making things worse, at least in the short term. Tax receipts are down from the loss of more than 8 million jobs, and applications for early retirement benefits have spiked from older workers who were laid off and forced to retire.”
We believe these hard times will foster credit card usage to supplement income. This in turn will cause indivduals to be stuck in the debt trap. But we can help you with your debt and give you an opportunity to increase your income. Contact us for more information.
Read about it more here: Yahoo News!
We can help you lower your debt from 40% – 50%.
Contact us.
]]>That home belonged to Angela Lannelli of Gibsonia, PA.
What so interesting about this? Lannelli was not behind on her payments nor was her home in foreclose. Her home was wrongly foreclosed and above all her prized Parrot was kidnapped.
After this story went public Bank of America said they had “zero tolerance for this kind of error.” Lannelli was able to locate her parrot but had to drive 3 hours to be reunited with her pet.
Read about it more here: NY Daily News
We can help you lower your debt from 40% – 50%.
Contact us.
]]>Bank of American has announced that they will suspend the $30 overdraft fee imposed on accounts.
Yay for Bank of America since the C.A.R.D. Act requires customers to opt in to overdraft protection. Great PR for Bank of America.
How will they make up for the $20 billion in lose revenue?
You!!
Read about it more here NY Times.
We can help you lower your debt from 40% – 50%.
Contact us.
]]>If you received your credit card statement after February 22, 2010, then you should notice the Minimum Payment Warning. The C.A.R.D. Act in now fully enforced.
The image example is from an American Express statement. The new balance for the statement period is $5,304.06. The new Minimum Payment Warning indicates it will take 22 years with a estimated total of $11,104 to pay off the credit card amount. Of course, this is also assuming that you make the minimum payment only.
The minimum payment on $5,304.06 may not be much, but do you think that principle balance will increase? Absolutely, as you make notice if you did not already, this account is past due and over limit. The monthly amount has now risen to over $500. If you paid, $500 a month for the year (500 x 12), that would equal $6,000. If you cannot pay the minimum now, what makes you think you can pay the whole principle off?
That’s why were here to help.
Contact us.
We’ll not only cut your principle by 40 – 50% but provide you income protection at no additional cost.
You have nothing to lose.