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December 2012 Archives

Using secured cards to rebuild your finances

Rebuilding credit after filing for personal bankruptcy can come with a lot of questions. Should you consider obtaining another credit card or loan? Or, should you wait until your credit is on more solid ground after spending time making rent and utility payments on time? Experts weigh in on the best way to re-establish credit after facing financial difficulties.

Seniors face historic credit card highs

Historians have long said that empathy can lead to a slew of bad decisions. Some modern scholars would say that our current economy reflects this bleeding-heart plight, especially when considering people who are seeking debt relief. After all, we should not have much sympathy for people who worked themselves into debt because of their frivolous spending, according to many pundits.

Leaders warn against allowing short-sale provisions to lapse

Congressional representatives are being urged by business leaders and advocates to extend a measure that has provided financial relief for millions of Americans facing foreclosure. The provision, known as the Mortgage Debt Relief Act of 2007, has allowed scores of people facing foreclosure to avoid paying income tax on principal that is forgiven during the increasingly popular short-sale process. If the measure expires, Americans could be held liable for the taxes on the forgiven debt, which will be considered income under existing law.

Avoid personal bankruptcy using these tips

As difficult as it may be to achieve a credit score of 700 or greater, bankruptcy experts say it can be remarkably easy to send your credit score plummeting into the 500-point range, simply by making a few common mistakes. Buyers throughout the nation are facing personal bankruptcy because they made bad credit decisions that will have long-lasting consequences. However, using these expert tips can help you avoid such an unlucky plight.

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