According to an article in the Dallas Morning News, the Servicemember’s Civil Relief Act (SCRA) provides a wide range of protections for active duty members who may be facing high interest rates on their credit cards.

The article said:

“The Servicemember’s Civil Relief Act provides a wide range of protections for active-duty military members. It’s aimed at postponing or suspending certain civil obligations to enable service members to devote full attention …

Tags: Banking Services Credit card Servicemembers Civil Relief Act

Permalink: /credit_card_negotiation/servicemembers-civil-relief-act-protects-active-duty-members-from-high-interest-rates-on-credit-cards/

According to an article in the Dallas Morning News, Debt Relief USA Inc., filed for Chapter 11 bankruptcy this week and has ceased all operations. That’s bad new for debtors who were working with this company because they may not get all of their money back.

The article said:

“Debt Relief USA anticipates sending written instructions to its customers, most former customers, creditors and known potential creditors with instructions on any steps …

Permalink: /bankruptcy/debt-relief-usa-inc-files-bankruptcy/

… their real property—who are trying to sell or refinance their home—will receive much needed relief from the IRS. The IRS announced that it is offering an expedited process for removing or changing a tax lien on properties that are being sold or refinanced in an effort to help homeowners struggling in this financial crisis.

The IRS is increasing its manpower dedicated to expediting tax lien releases and changes by adding 40 collection advisor groups, including one in Dallas- Fort …

Category: Debt and Tax Relief

Permalink: /debt-and-tax-relief/federal-tax-lien-relief-for-homeowners/

… deduction on your taxes.

Donations To Haiti – If you make a donation to the Haiti earthquake relief efforts between January 11, 2010 and March 31, 2010 those donations can be deducted from your taxes, but only if you itemize.

Energy efficiency credit – If you purchased an energy efficient air conditioner, furnace or water heater last year, you may be able to deduct 30 percent of the cost from your taxes.  There is a $1500 cap; but you can include the cost for labor and materials.  …

Category: Debt and Tax Relief , Economy

Permalink: /debt-and-tax-relief/tax-deductions-you-don%e2%80%99t-want-to-forget/

… by reviewing your credit report.

Graduation from high school or college usually comes with a relief that you no longer have to struggle to “make the grade.”  That bubble bursts, though, when we discover that our credit report essentially serves as a continuing report card.  Once your credit GPA drops, it can be somewhat challenging to repair your credit rating.  Fortunately, there are some simple strategies that can help you pull your rating back up and keep it up.

First, …

Category: Credit Counseling , Debt and Tax Relief , Student Loans

… in the Dallas Morning News, Texas Attorney General Greg Abbott successfully argued that Debt Relief USA’s bankruptcy case should be converted from a reorganization to a liquidation, increasing the chances of recovering $4.6 million owed to former customers of Debt Relief USA.

The article said:

“Debt Relief USA promised to help consumers with large debts by having customers pay the company instead of paying creditors. Under its business model, Debt Relief would negotiate with …

Permalink: /lawsuits/texas-attorney-general-battles-debt-relief-usa/

… Charlotte P.; In re (Wells Fargo Bank Minn. v. Borgens), the bankruptcy court extended a stay of relief, giving a debtor more time to save her home from foreclosure despite the mortgage lender’s protests.

The details of the bankruptcy case:

“The debtor filed for Chapter 13 bankruptcy on March 15, 2004. A little more than one year later, a consent order was entered modifying the automatic stay to provide that the debtor was to make monthly payments of $431.04 to Wells Fargo Bank …

Permalink: /dfw_metro_bankruptcy/bankruptcy-court-exercises-power-to-extend-stay-of-relief-for-homeowner/

… was incidental to his seemingly insurmountable problem:  He had paid a total of $30,000 to Debt Relief USA, and, to his shock, he was informed that they had just filed for bankruptcy.

His chances to recover all or part of his money?  Virtually nil.

Allmand notes, “It’s sad and truly heartbreaking when something like this happens.  Mr. Mayer made his payments to Debt Relief USA religiously and on time.  They assured him things were proceeding wonderfully.  And then $30,000 later, …

Permalink: /dallas_bankruptcy/credit-counseling-debt-relief-or-bankruptcy-wrong-choice-robs-man-of-30000-in-horrifying-tale/

The Federal Trade Commission has charged National Foreclosure Relief Inc. with falsely claiming that it would stop foreclosures or fully refund consumers’ money. The foreclosure “rescue” company would target homeowners facing foreclosure with postcards that claimed to have approved them for a “Fresh Start Program” that could save them from foreclosure.

The postcard said:

“We are happy to inform you that you have been pre-approved to have …

Permalink: /foreclosures/foreclosure-relief-scammers-charged-by-federal-trade-commission/

… system is high across the state," said a study by a special House committee on property tax relief and appraisal reform. "Escalating values have caused taxpayers to feel that the one-third reduction in school taxes … has been consumed by appraisal increases and other taxing jurisdiction increases. And as property taxes continue to increase, fewer Texans will realize the dream of homeownership."

Not only will fewer Texans realize the dream of homeownership but many …

Permalink: /foreclosures/homeowners-may-get-much-needed-financial-relief/

… facing imminent foreclosure. The plan, if approved would be the first of its kind to offer relief directly to homeowners and could cost as much as $50 billion. Under the proposed program, homeowners’ monthly mortgage payments would be reduced to an affordable level. The reduced mortgage payments would be achieved by lowering interest rates, cutting the amount of principal owed or offering an extended payment period that could stretch beyond 30 years. For mortgage lenders the …

Permalink: /loans-mortgages/direct-relief-for-homeowners-may-be-on-the-way/

National Guard and Reservists Debt Relief Act of 2008 is an Act to amend the Bankruptcy Abuse Prevention and Consumer Protection Act to exempt for a limited period, from the application of the means-test presumption of abuse under chapter 7, qualifying members of reserve components of the Armed Forces and members of the National Guard who, after September 11, 2001, are called to active duty or to perform a homeland defense …

Tags: bankruptcy law debt relieft act

Permalink: /dallas_bankruptcy_laws/national-guard-and-reservists-debt-relief-act-of-2008/