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The Federal Trade Commission protects consumers against harassment by debt collection companies, here in Ohio and across the country. The agency recently took action against four companies that engaged in deceptive methods to collect debts that were, in some cases, nonexistent. A typical tactic of a debt collector involves intimidation, which can come in many forms. The FTC reports that…
A homeowner in Ohio might find it difficult to sell a house that is burdened with a second mortgage. To transfer the title of a property to a buyer, it has to be free of any encumbrances. The holder of the second mortgage has a lien on the house that serves as security for the loan. Although personal bankruptcy may…
New rules were announced last year for the manner in which the three main credit reporting agencies (CRAs) will handle unpaid medical debts. The CRAs are still in the process of implementing the new rules, and the overhauling of their practices will reportedly continue through 2017. One of the most significant changes is the fact that consumers nationwide, including here…
Ohio consumers who find themselves overwhelmed by credit card debt may be exploring remedies for the situation. Under the Bankruptcy Code, protection is offered that is not available in any of the many plans that may provide debt relief. The bottom line is that the only way in which credit card debt can be cleared is by paying it off,…
Some small business owners in Ohio who have encountered unexpected financial difficulties may be exploring possible remedies. Fortunately there are several options under the Bankruptcy Code that might allow a business to continue rather than just shutting its doors....
Filing for bankruptcy is a big choice that many couples and individuals are hesitant to make. Though Chapter 13 or Chapter 7 bankruptcy can be used as a tool to positively benefit a financial crisis, taking the leap is intimidating. Nevertheless, thousands of people who are living in the area of Cincinnati, Ohio, file for bankruptcy each day. If you…
Let’s say that the evidence has been stacking up lately that suggests you need to talk with a bankruptcy lawyer: you’ve been juggling some or even many of your bills, trying to stay one step ahead of having your electricity, telephone and water shut off. You’ve been “paying off” credit card balances by opening new credit card accounts and transferring…
If your business is in the red, you may think like there is no way out. Declaring bankruptcy may feel like giving up. Many Ohio business owners do not realize that filing for bankruptcy could actually help you turn things around. One of the biggest benefits that filing for bankruptcy gives you is time. As soon as your business files…
The desperation felt by a homeowner trying to stop foreclosure in the wake of financial challenges can make that person an easy target for an unscrupulous mortgage lender. The sudden loss of income from unemployment or a pay cut associated with a lack of overtime or fewer hours worked can make it difficult to keep up with monthly mortgage payments.…
For several quarters, the rate of foreclosure around the nation, including states with a high share of institutional investors, such as Ohio, decreased overall. The most recent quarter has seen a dramatic increase of 66 percent of homes that face foreclosure action due to the default of a loan repayment. This means that families who are already facing financial hardship…