Watch our Illinois Bankruptcy Videos and learn about Illinois Bankruptcy Laws, Illinois Bankruptcy Court, Chapter 7 Means Test, How To File Bankruptcy in Illinois, Chapter 7 Bankruptcy in Illinois and How To Find An Illinois Bankruptcy Lawyer in Kane, Kendall, DuPage and Will County, Illinois and much more.
I want to avoid foreclosure, but I can’t sell my home for what I owe on my mortgage. What can I do?
Watch this video on Short Sale Basics by the Kahn Academy.
Short Sale or Foreclosure – Which is Better?
Is a Short Sale or Foreclosure Better? Watch this video for the truth as told by Suze Ormon on OWN.
Suze discusses how short sales and foreclosures affect FICO scores.
- The Question: Which will affect my FICO score (credit score) less, foreclosure or short sale?
- The Answer: Either way your FICO score (credit score) will be affected identically.
- Bankruptcy Intervention
Dealing With Debt Collectors
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In uncertain times, what can you be sure about? The sun rises in the East. What goes up must come down. Night follows day.
But here’s something else: when it comes to dealing with debt collectors, federal law gives you rights.
For example, debt collectors: Can’t call before 8 in the morning or after 9 at night. Can’t curse or insult you. Can’t demand that you pay more than you owe. Can’t lie about anything – they can’t say that papers they send you are legal forms if they’re not – nor can they make up consequences for not paying your debt. And they can’t call you at work if your employer doesn’t allow it.
You also have the right to stop debt collectors from calling you. How do you do that? You have to notify them in writing. Sending them a letter should stop the phone calls, but of course, it doesn’t wipe out your debt.
There’s helpful information about dealing with debt at ftc.gov/moneymatters – a website from the Federal Trade Commission. It explains the rules of behavior for debt collectors. Take a look – there are some that may surprise you.
If your debts have gone into collection, remember that you have rights. Asserting your rights doesn’t make your debt go away, but it does give you a voice. The more you know about how to manage your debt and deal with debt collectors the better off you can be…after all, money matters.
If you think that a debt collector has violated the law, report it. File your complaint with the Federal Trade Commission at ftc.gov/complaint. Your complaint gives law enforcement a lead to follow up on, and may stop it from happening to someone else.
The Federal Trade Commission is the nation’s consumer protection agency. For more tips on credit and debt visit – ftc.gov/MoneyMatters or 1-877-FTC-HELP (1-877-382-4357)
Avoid Foreclosure Rescue Scams
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Foreclosure Rescue Scams
The Truth about Debt Relief Services
There’s No Easy Fix for Bad Credit