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August 2014 Archives

Unkept foreclosures on Long Island cause problems for residents

Even though the recession has technically been over for a while now, residents of Long Island, New York, continue to deal with the fallout. Homeowners who find themselves struggling with financial challenges often face the risk of foreclosure, especially when they are unaware of debt relief options or banks are unwilling to work with them. Unfortunately, foreclosure is a result that benefits no one. New York residents who find themselves in this situation should investigate their options for foreclosure defense, both for their own benefit and the benefit of their neighbors.

New credit score calculation may benefit those in debt

Financial considerations are often foremost in the minds of New York residents who seek to keep moving ahead economically and enjoy a stable lifestyle. When unexpected circumstances occur and debt levels rise, many people feel the pressures in the form of financial stress, harassment from debt collectors, falling credit scores, and worries about bankruptcy. Because credit has become more and more important in American society and can affect everything from getting a cell phone or electricity to securing a mortgage, many people may look to a debt workout or settlements in an effort to prevent further damage to a credit score. Fortunately, changes to the credit score calculation formula are likely to benefit a number of people throughout the country.

If I file Chapter 7, will I lose all my personal property?

If you are a New York resident struggling with a large amount of personal debt, you may be considering bankruptcy as a possible solution. However, many people worry about filing for bankruptcy because they think it will mean losing everything in exchange for a fresh financial start.

Percentage of people reported to collection agency holds steady

Although the recession may officially be over, many New York residents and others across the country are still dealing with the lingering effects and continued financial challenges. Many people struggle for a short time and then regain their financial footing, while others seem to fall further and further behind as the result of snowballing, unfortunate circumstances. When debt rises and people are unable to make their monthly payments, may find themselves dealing with harassment and stress from a collection agency.

Disclosure forms reveal credit card debt of NY council members

Many people assume that only people with low incomes struggle with financial problems. However, the truth and reality is that anyone can find himself in financial trouble if something unexpected occurs or if he lives above his means. The availability of credit cards have increased the risk of ballooning debt that becomes unmanageable because it gives people access to money at nearly all times. Due to the ease of obtaining credit cards, many people use them to finance a range of things, including businesses, which can lead to some significant levels of credit card debt.

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