The Basics of Dealing with a Loan Default

Over the past few weeks, ... ). Eventually, a loan default results in repossession or foreclosure (if your debt has collateral) or having that debt turned over to a collection agency (if your debt doesn’t have collateral). The impact [more...]

Date: 2008-12-09 20:00:29

Blog posts (9) | Videos (12)
 

JPMorgan chief sees bleak year ahead

The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase, has predicted. Dimon, whose bank will report Q4 results on Thursday, gave his bleak assessment in an FT interview as bank shares tumbled in key markets on fears [more...]

Date: 2009-01-15 05:31:17

Restrictions on Wage Garnishment for Debt Collection

Many debtors that have defaulted on their credit card debt or other unsecured loans are concerned about their wages being garnished. Often collection agencies will threaten to turn your debt over to their ‘legal department’ ... for you… at no charge. The U.S. Department of Labor has developed The Federal Wage Garnishment Law [more...]

Date: 2008-11-30 16:13:23

IRS Tax levy, Tax Collection, Tax Lien, Foreclosure Debt Foregiveness Rules May Be Amended.

Los Angeles, California - IRS will be improving IRS tax procedures to protect victims of tax-related identity theft and expanding outreach and ... to assist identity theft victims. 3. Cancellation of Debt Income. When an individual or business ... to foreclosure or who default on car loans or credit card debts. Taxpayers may exclude the amount [more...]

Date: 2008-07-22 19:43:56

Economic Crises Deepens: JPMorgan Chief Says 2009 Will Be Bleak

Jump to CommentsBy Francesco Guerrera in New YorkThe Financial Times The US financial and economic crisis will worsen this year as hard-hit consumers default on credit cards and other loans, Jamie Dimon, chief executive of JPMorgan Chase ... to deteriorate for most of 2009,” said Mr Dimon. “In terms of our sector, we expect consumer loans [more...]

Date: 2009-01-15 18:20:12

6 Steps to Doomsday: A Great Depression II Scenario

I have to get this out of my system. BP’s interview with historians Michael Allen and Larry Schweikart helped assuage my fears some ... , out of money, default on their mortgages, car loans, student loans, credit card loans, etc. Bond ... access to credit, you can’t get that loan to start up the new business you’ve been planning [more...]

Date: 2008-10-07 18:00:29

Paulson's New Program: Giving People Money They Can't Afford To Spend

The news is as old as the Magna Carta. The consumer is broke. He does not have a dime. He is out of work. He is defaulting on his home equity loan, and the bank has reposed his credit card. It may ... of auto loans, student loans and credit cards." The head of the Treasury is concerned that people [more...]

Date: 2008-11-25 10:50:07

Fear is back on Wall Street

NEW YORK (Fortune) -- Fears about the health of big financial firms and the overall economy have roared back into play, ... by souring mortgages and trading losses - will be eroded by rising defaults on credit cards, auto loans ... billion in federal aid and loan guarantees in recent months. Citi said Tuesday it would spin off 51 [more...]

Date: 2009-01-15 01:40:18

Taxpayer Advocate Gripes About IRS

Taxpayer Advocate Gripes About IRS August 25th, 2008 According to the Seattle Post Intelligencer, Nina Olson, ... in place to assist victims of identity theft. • Cancellation of debt income. When an individual ... their homes to foreclosure or who default on car loans or credit card debts. Last year, Congress passed [more...]

Date: 2008-08-25 13:51:49

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