… You may be able to get your vehicle back later if you can work out a deal with the finance company.

The first step to avoiding repossession is to know and understand your rights.  If you have financed or leased your vehicle, the terms and conditions stated in your agreement will spell out under which circumstances your vehicle can be repossessed.  Take the time to read your contract.

Under Texas law, your vehicle may be repossessed even if it is …

Tags: Bankruptcy Finance Law Repossession Texas

In the Chapter 13 bankruptcy case of Janssen, Richard D.; In re (Janssen v. Chase Home Finance LLC), the bankruptcy ruled against a debtor who changed his mind about an oral creditor/debtor settlement agreement.

The details of the bankruptcy case:

After he received a Chapter 13 discharge, the debtor sued Chase Home Finance alleging that the lender failed to abide by the terms of his confirmed plan. On March 9, 2009, approximately six months after filing the complaint, the …

… and dismissed.

- In April 2008, the state of Nevada got in on the action, with Citicorp Vendor Finance placing a lien on Murray and his recently searched clinic, Global Cardiovascular Associates. A civil judgment was requested in the case.

Michael Jackson paid Dr. Murray $150,000 a month; but despite that fact he may still need to file bankruptcy.  Since his last bankruptcy filing was 17 years ago, he is definitely eligible to file bankruptcy again.  Although it is not clear how much …

… loans from banks.  That fact has many small businesses looking to less traditional means to finance their business ventures; however this trend could land some start-ups in financial straits.

A recent survey by the National Small Business Association found that a third of firms can’t get adequate financing. Many small-business owners are just treading water. “The situation has become acute,” said Jerry White, executive director of Southern Methodist University’s Caruth …

… card company is difficult; but it is worth a try.  Other creditors such as a vehicle finance company or mortgage lender may be a little more flexible than a credit card company.  The important thing is to communicate your situation and ask for the forbearance, it may not be offered automatically.

Respond to creditor calls and letters.  Yes, we know this is default to do, but it is necessary.  A creditor may move faster towards a lawsuit and …

Assess you current financial situation. When assessing your financial situation it’s important to find out exactly where you stand TODAY. Are you currently unemployed? Do you have enough money for you debts and everyday expenses?  Are you facing foreclosure ? Have you recently filed bankruptcy?  Are you currently making payments on a Chapter 13 …

Tags: Bankruptcy Debt Health insurance Money Mortgage Personal Finance

When debtors fall behind on their payments, they can often lose access to the very things they need to get their financial lives back on track. Once a debtor is 60 days late on their credit card payments, most credit card companies block the debtor from access additional money on that credit card. They also report the late payment to the credit bureaus which can create a domino effect that …

Tags: Bankruptcy Money Management Personal Finance

The best and simplest way to avoid high interest rates on your credit cards is to pay off your balance every month. But for those of us who are already inundated with debt, doing so may seem next to impossible.  So here are a few tips on how to avoid high interest rates, even if you have a balance:

Pay your credit card on time.  This tip may seem obvious; but many credit card …

Tags: Credit card Debt Interest Rates Personal Finance

As credit card companies increase interest rates and fees, many credit card consumers are looking for alternative sources of credit.  Even personal loans are given a second look due to their lower interest rates.  But what is a personal loan?  A personal loan is an “unsecured” credit line which is similar to “secured” loans in that there is a fixed amount of credit available and a …

Tags: Credit card Interest rate Loan Personal Finance

If you’re applying for a job in finance, accounting or a position that requires the handling of cash, expensive merchandise or a security clearance, you may be subjected to a credit check. If you’re behind on your bills, have delinquencies, defaults, judgments or liens, there a few things you should know.

While a company is restricted from not hiring you simply because you filed bankruptcy, they may be allowed to deny you …

… you haven’t wanted to trouble them.  It’s perfectly okay to accept a gift from relatives to finance the down payment.  Just remember that the lender is going to ask where the down payment is coming from, and you can not lie about this–if the “gift” is really a loan you have to pay off, you must disclose that to the lender.

2.  Down payment assistance programs like Neighborhood Gold or the Nehemiah program may be able to help you.  These programs aid the seller in providing …

… Malibu from a dealer. He took possession of the car on the same day that he signed a contract to finance the purchase through GMAC. But a few weeks later the dealer notified the debtor that the GMAC financing did not go through and that he arranged better financing with Universal One Credit Union. On the evening of Sept. 27, the dealer sent a representative to the debtor’s home to have him sign the paperwork, which showed the dealer as the recipient of most of the loan proceeds. GMAC was …