Jump to Navigation

April 2014 Archives

'Positive equity' phenomenon could help you stop foreclosure

Many residents of Washington, D.C., are going through the foreclosure process even though they do not need to. Area residents whose homes have increased in value may no longer be "underwater" -- that is, they no longer owe more on their mortgages than the value of their home. These families were often unable to refinance or sell their homes because of their financial situations. However, foreclosure proceedings may take a significant amount of time to complete; during that time, homeowners' property may have increased in value. This could be great news for those who are interested in stopping foreclosure.

Payday loans and bankruptcy: The dangers of predatory lending

Much ado has been made about the relationship between payday lending and bankruptcy among residents of Washington, D.C., and other jurisdictions. Payday lenders find themselves vilified for contributing to Chapter 7 bankruptcy proceedings among a variety of populations. This may be for good reason; many states have actually banned high-interest payday loans that put residents at risk of financial ruin. If we take away payday loans, will personal bankruptcy rates drop? Further, will citizens end up looting or turning to crime because they can't access easy cash? Experts say that eliminating payday loans is unlikely to have the negative consequences that have been publicly decried by industry leaders, and that consumer protection should be prioritized.

Bankruptcy, wage garnishment for parents who can't pay loans

Newly released federal information shows that parents in Washington, D.C., and other parts of the nation are struggling to repay the financial burden associated with their children's student loans. The parents have participated in the Parent Plus program, which permits them to borrow nearly unlimited amounts to pay for college costs. With the rising price of a university education, many parents are struggling to regain their financial footing after their youngsters graduate. In some cases, bankruptcy and debt cancellation are the only options for overwhelmed parents.

Chapter 13 can be useful even as retirement approaches

By the time Washington, D.C., residents reach retirement age, they often expect to be financially solvent, without crippling amounts of debt. Although this expectation exists, a growing number of debt reorganization experts say that they are seeing older borrowers seeking help for financial problems. These professionals say that there are several debt management options that can help even retirees get a fresh financial start.

Start Right Now

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Visit Our Bankruptcy Law Website Subscribe to This Blog's Feed
Office Locations

1115 Massachusetts Ave NW,
Washington, DC 20005
Phone: 202-559-1428

10512 Pohick Court,
Fairfax Station, VA 22039
Phone: 703-550-7030

6926 Seven Locks Road,
Cabin John, MD 20818
Phone: 301-890-4500

Toll-Free: 877-441-4076
Fax: 202-638-5858

Twitter link