During the last decade many parts of the United States suffered from drastic decreases in property values. Housing prices dropped overnight, and homeowners lost their equity in their real property. Many borrowers found that the balance on the mortgage secured… Continue Reading
If you owe a debt and stop making payments eventually the creditor will send you an offer to settle the debt. These agreements usually offer to settle the debt for less than what is owed on the contract. Sometimes the… Continue Reading
If the debtor has more motor vehicles than drivers in the household, then the vehicles can be seized. If they have collectibles with value, such as a stamp collection, coin collection, paintings, then that property may also be nonexempt. There… Continue Reading
Very few people are truly judgment proof. A creditor’s ability to collect debt is largely dependent on the laws concerning exemptions and debt collection in the state in which the debtor lives. Exemptions are laws that prevent creditors for seizing… Continue Reading
If you default on debt then you can usually expect a couple of things to happen. First, you are going to get many nasty telephone calls and letters from the bill collector. If the debt is high enough and the… Continue Reading