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Walk Away Or Pay That Mortgage? The Pros And The Cons

In the midst of the real estate boom, many homebuyers extended their finances to purchase a house that might have been beyond their means. With the market on fire, people were apt to buy with low introductory interest rates and interest-only loans. They believed that their income would increase to meet their payments and predicted that real estate prices would never fall. Unfortunately, adjustable-rate mortgages have adjusted and monthly mortgage payments have gone up. Couple that with the fact that income hasn’t increased, and you will see why more people have fallen behind with their mortgage payments.

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Retail Industry Receives Good News

There is some good news for retail! January sales at top U.S. retail chains took a positive turn from last year’s decline, possibly because many avoided drastic clearance sales, and shoppers cashed in on the holiday gift cards.

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What If A Creditor Tries To Collect My Debt?

Exactly who is trying to get me to pay up? The Fair Debt Collection Practices Act was written in the 1970s and provided many protections for consumers. There are strict rules and regulations that a collector has to abide by, and if any of these regulations are violated, there is a good chance that you could sue that agency. But what about that friend of yours who owes you five bucks? Do you have to grant them thirty days to refute the claim? Obviously, you do not.

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Change Is In The Future For Debt Collectors

The most recent research on the American economy alleges that incomes are dwindling for those just starting out. The Collections Industry has reason to believe that this paradigm shift will be permanent.

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Wait. How Long Is This Going To Be On My Credit Report? Part 1

Your credit history. It could be your best friend, or your worst enemy. Most of the time it’s like a nosy mother in law coming to visit. You know that she’s coming, and that’s always bad news, but you are too afraid to ask or even consider how long she will be staying. Even though that was the worst analogy ever, read on to see how long negative marks stay on your credit history!

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