Sound too good to be true?  Here is a brief synopsis of what you need to know about this new settlement:

1.   Not every homeowner will qualify.  Specifically Bank of America is looking at homeowners that were behind on their mortgage on January 31, at least 60 days past due and whose homes are worth less than they owe.  If you meet these requirements it just means you are eligible, it does not mean you WILL be approved.

2.   There is the possibility of principal reduction in this type of modification but that does not mean that Bank of America is going to reduce the principal on your loan, it just means it is possible that Bank of America will do so.

3.   The qualification process will be much the same as your mortgage modification application was before.  You will still need to monitor the submission of paperwork and you will still likely have to resubmit and wait extended periods of time for a decision.

Still interested?  Great.  Give our office a call at 732-302-9600 or submit our contact us form and will will be happy to assist you in applying for your mortgage modification.

This means that up to one million people could be trapped under oppressive debt because they cannot afford to file for bankruptcy.

I know what you are thinking, why is a bankruptcy attorney pointing out high fees?

Because if you are reading this you cannot afford to not file for bankruptcy.  Many of my client will look at me like I am out of my mind when I tell them my fees or I will hear an audible sigh when I state my fees on the phone.

But let’s put this in perspective:

The average person calling me right now is behind on the mortgage by at least one to two months, has a car loan with a shameful (shame on the lender) interest rate, and about $15,000 in credit cards with equally shameful interest rates.  More often than not the driver behind their calling me is something extreme, such as foreclosure, a pending garnishment, or their bank account was drained by a creditor.

Taking no action here could result in more wage garnishments, more levies on bank accounts, foreclosure, and a whole host of other much more expensive than the $1500.00 national average that it costs to file bankruptcy.

In addition, when it is all over there will be no credit card debt and there is a decent shot at negotiating a better rate on the car, and working out something to bring you current on your mortgage.

Suddenly that national average on attorney’s fees of $1,500.00 is looking like a steal right?  That is what I thought.  On top of all of this most attorneys are not going to ask you to come up with all of that fee the first time you meet with them.  For the most part each attorney has their own way of helping you, myself included.

Interested in how we can help you get out of oppressive debt?  Give us a call and we will talk about how we can help at 732-302-9600 or fill out our online consultation form and we will call you.

A West Virginia woman was told she owed a debt that she did not owe and not only did she not pay the debt, she fought back against the harassment and sued the collector. 

Now she is in the process of collecting her judgment against the collectors that attempted to extort her.

For most of our clients they do owe the debt but that does not mean that a debt collector has a right to harass or intimidate you.  If a debt collector contacts you and threatens your life, threatens to jail you, or suggests any other malicious activity they are acting illegally and whether you owe the debt or not you may be able to sue the collector.

If you are having trouble with your creditors calling and threatening you, give us a call at 732-302-9600 or fill our our online consultation and we will talk about what we can do to help you with your troubling financial circumstances be it with an FDCPA action or a personal bankruptcy.