An explanation of the Mortgage Debt Relief Act of 2007
Tuesday, March 2nd, 2010 Posted in debt relief | No Comments »The Mortgage Debt Relief Act of 2007 allows taxpayers to exclude from income the amount of debt forgiven related to their principle residence. If the debt was reduced through mortgage restructuring or the debt was forgiven connected to a foreclosure, ...
Special Message to Seniors and Disabled Whose Mortgages are Under Water
Thursday, February 25th, 2010 Posted in debt relief | No Comments »By Jerome S. Lamet, Supervising Attorney Debt Counsel for Seniors and the Disabled A recent article in “The New York Times” by Richard H Thaler expresses a realistic view of the problems of mortgages on houses that are greater than the value ...
The Layaway Plan with AAUD Attorneys for Chapter 7 Bankruptcy
Wednesday, October 14th, 2009 Posted in debt relief | 2 Comments »The worst economic crisis since the Great Depression has brought back one of that era’s best innovations. American consumers caught in the credit squeeze or unwilling to pay extortion rate interest and fees on credit cards and other debts have ...
Unemployment News from the Department of Labor
Wednesday, September 23rd, 2009 Posted in Unemployment Updates | 4 Comments »Currently, the unemployment rate across the entire country is 9.7 percent . Nearly 10 percent of the workforce in the United States is out of a job. Yes, those two statements are redundant, but with such a staggering number representing ...
Surviving Three Strikes: Unemployed, Receiving Unemployment Compensation, Drowning in Debt
Tuesday, September 22nd, 2009 Posted in Unemployment Updates | No Comments »As American credit card bills have spiraled out of control, the airwaves have been filled with advertisements for “debt settlement” services that say they help consumers settle debts for a fraction of what they owe. But they often charge high ...