| Subject | Date Asked | Expert |
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| Help! Drowning in Debt & Bad Credit | 1/9/2009 | Michael Brotherton |
Q: I have been unemployed and under employed several times in the last 10 years and unemployed now. I ...
A: I see no need to file bk any time soon unless you just want to get it over with. Your debt is ...
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| car in bankrupcty | 1/8/2009 | Ontrack Financial Group llc |
Q: My mom is the main holder of my car loan and my husband is the co-signer we are going through a ...
A: You're correct by returning the car it will have a major impact on your mothers credit. If you ...
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| Texas Payday Loans | 1/8/2009 | Michael Brotherton |
Q: My husband had surgery in November, 2008 and I had to take out some payday and finance company ...
A: First of all, TX is a consumer friendly state with a no garnishment law. This kind of takes the ...
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| Being sued inTexas for credit card debt, collections law, SOL | 1/7/2009 | Ontrack Financial Group llc |
Q: We live in the state of Texas. My wife was just serviced on 1-6-09 by Midland Funding LLC what ...
A: In Texas a person (or company) must bring suit on the following actions not later than 4 years after ...
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| being sued by discover | 1/7/2009 | Michael Brotherton |
Q: I had already ask what could my boyfriend do since he was being sued.MY question now he had talked ...
A: Your friend has no clue. If you can complete the paperwork for BK and get it filed the suit will be ...
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| Being Sued need help | 1/7/2009 | Michael Brotherton |
Q: I had a house foreclosed on me 6 months ago. Now the second mortgage is is in collections and I ...
A: If the house has been sold through the foreclosure action and the creditor is attempting to sue you ...
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| bankruptcy | 1/6/2009 | Ontrack Financial Group llc |
Q: we have co-signed on a mortgage for my daughter and she is thinking of chapter 7 br. How will that ...
A: The mortgage company can attach a lien on your current residence (retirement is protected). ...
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| "'collectors" | 1/5/2009 | Michael Brotherton |
Q: How can I prevent "sleazy" collection agency, (they wouldn't even give me their address on the ...
A: First, are you sure this is a legitimate collection agency for the state? They must disclose certain ...
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| Charge off | 1/2/2009 | David |
Q: What does the term "charge off" mean? What is its significance?
A: 0ver 120 days past due. It can lower your score significantly. Hurts the most the first year, but ...
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| Credit Cards? | 1/1/2009 | Ontrack Financial Group llc |
Q: There have been a lot of radio ads for companies selling ID theft programs. My question is why ...
A: ID Theft Programs are no more then multiple credit alerts placed on credit bureaus in conjunction ...
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| bankruptcy | 12/30/2008 | Ontrack Financial Group llc |
Q: we have co-signed on a mortgage for my daughter and she is thinking of chapter 7 br. How will that ...
A: The cosigner will assume responsibility for the mortgage. We can provide a solution. Please ...
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| bk | 12/30/2008 | David |
Q: I am paying on 2 homes. One is in california and has 2 loans. One is a line of credit. $65,000 on ...
A: You are definitely in a hard spot. The first step is to talk to an attorney and see which type of ...
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| credit card debt etc | 12/28/2008 | Ontrack Financial Group llc |
Q: I lost my job a month ago, and I am falling behind and have been using my savings to stay afloat. I ...
A: While you may feel defeated your not alone. Any debt management consumer credit, or debt debt ...
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| Refi Mortgage after bk | 12/25/2008 | Michael Brotherton |
Q: My wife and I recently filed and had a Chapter 7 discharged. In doing the BK we took down everyone, ...
A: You would probably have to negotiate a settlement on the second or ask them to modify the mortgage ...
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| collections | 12/22/2008 | Michael Brotherton |
Q: and they dropped our case after a year. we owe about 40,000 in credit cards and before the attn. of ...
A: Once they file suit the courts will have to make a reasonable attempt to notify you. This can be ...
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| Restoring credit after bankruptcy | 12/22/2008 | David |
Q: I recently had a bankruptcy discharged. It was not due to mismanagement of credit on my part -- the ...
A: Sheryl, It is easier to raise your credit score if you are willing to use credit cards along with ...
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| chargeoff and bankruptcy | 12/21/2008 | Michael Brotherton |
Q: I'm in the process of filing bankruptcy. A bank sent me a chargeoff notice which may happen before ...
A: It would not make much of a difference. Whether you file before or after a charge off it will still ...
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| corporate credit card qualifications | 12/19/2008 | David |
Q: I am an employee of a large corporation and they have just now required we have their corporate ...
A: Can't tell you what your company will do. It is up to their discretion. Amex will not give you the ...
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| debt consolidation | 12/19/2008 | Michael Brotherton |
Q: my husband was incarcerated in 2005. i had a job but had to find another place to live. my job was ...
A: First and foremost take a deep breath and relax. I know financial problems can be stressful and I ...
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| GMAC Lease Negotiation | 12/18/2008 | Michael Brotherton |
Q: I have a GMAC car lease. My wife has lost her job and I cannot afford to make a 750.00 car lease. I ...
A: Many finance companies have hardship programs that can reduce payments. It is sometimes difficult to ...
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| Loans | 12/18/2008 | David |
Q: I have this problem. I'm 27 years old and I have about $10000 credit card debt and also about $10000 ...
A: You can't go to jai for not paying back your debt. You could eventually end up with wage ...
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| Loans | 12/18/2008 | Michael Brotherton |
Q: I have this problem. I'm 27 years old and I have about $10000 credit card debt and also about $10000 ...
A: You cannot go to jail for a debt such as credit cards. At this point there isn't much creditors may ...
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| Recieved Summons for Debt Collection Issue | 12/18/2008 | Michael Brotherton |
Q: I received the summons on 12/10 to collect a CC debt for $2900. The date on the summons itself is ...
A: I would doubt your third party can do anything special but take your money. The fee is not ...
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| credit | 12/17/2008 | David |
Q: Im 21 years old and I have a debit card through my bank. For my job and no credit history mainly ...
A: To have a big impact on your score you'll want to have at least 4 reportable lines. You can use ...
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| Forclosure after BK | 12/17/2008 | Michael Brotherton |
Q: We filed Ch7 last year and included the first mortgage (actually they asked to be included) but not ...
A: This depends on which state you are in but in most cases the debt will be considered unsecured and ...
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| Can I Sue My Ex For Ruining My Credit | 12/16/2008 | Michael Brotherton |
Q: I put a car in my name for my boyfriend, at the time. He was making the monthly payments, but he ...
A: You may have grounds to sue him for the damage to the car but not necessarily for wrecking your ...
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| Sued by Discover bank | 12/16/2008 | Michael Brotherton |
Q: My question is what can my boyfriend due,he's being sue by discover bank for non payments.This ...
A: He should contact the attorney suing him and offer a lump sum settlement as payment in full. He may ...
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| Surrendering a vehicle | 12/16/2008 | Michael Brotherton |
Q: I bought a 2008 mazda 3 about 6 months ago on the red carpet plan that was supose to refinance my ...
A: Don't do it! This is bad advice. Never voluntarily surrender a vehicle. You may try to sell it and ...
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| Ex-Boyfriend Is Ruining My Credit | 12/16/2008 | David |
Q: I put a car in my name for my boyfriend, at the time. He was making the monthly payments, but he ...
A: Absolutely take him to court. Take photos and keep any records you have. Get signed affidavits ...
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| out of work at 50 | 12/14/2008 | Michael Brotherton |
Q: I turn 50 next April and just lost my job. My income in the past decade has been only a fraction of ...
A: Sorry for the delay in responding. I have been inundated with questions and trying to keep up with ...
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| financing a car | 12/13/2008 | David |
Q: our bankruptcy was discharged in oct. we are senior citizens, and now are in great need of a ...
A: Nancy, In my experience a Ford Motor Credit loan is the easiest dealer to get credit with after bk ...
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| Summons | 12/11/2008 | Michael Brotherton |
Q: Ok so I got a summons back in Nov. from Capital One and I paid it in full. My court date is Dec 22 ...
A: Since you are going to be out of town. Ask for the continuance in writing for the reasons given ...
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| credit cards | 12/11/2008 | David |
Q: what is the best way to raise my credit score with credit cards? should i make the minimum payment ...
A: The best way is to use cards issued by mainstream banks...CITI, Chase, Discover, AMEX Pay off each ...
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| Foreign debt collection | 12/11/2008 | Michael Brotherton |
Q: Background: I recently returned from a three-year college degree program in France. Due to some ...
A: My respnse will be limited since I am not expert in international collections law. A debt may be ...
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| Getting rid of credit card | 12/11/2008 | David |
Q: I have 2 credit cards. The first one i have a balance of almost $3,000, and the second one I don't ...
A: You'll have to decide what to do with the card for yourself, but i will give you the relevent info ...
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| credit cards | 12/10/2008 | Michael Brotherton |
Q: I have a few brief questions: 1)Does upgrading a Credit Card hurt your credit score? 2)How do I ...
A: No, upgrading a card or increasing your credit line does not hurt your credit. The type of credit ...
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| credit cards | 12/10/2008 | David |
Q: I have a few brief questions: 1)Does upgrading a Credit Card hurt your credit score? 2)How do I ...
A: q.)Does upgrading a Credit Card hurt your credit score? a.)A small percentage of your credit score ...
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| Ex co-signed my name on credit card, then filed bankruptcy | 12/10/2008 | Michael Brotherton |
Q: My ex-boyfriend and I lived together for approximately one year a few years ago. Without my ...
A: The question is whther you can prove he forged your name. Do you have any documentation or ...
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| Car Repo - Balance Owed by Co-signer | 12/9/2008 | Michael Brotherton |
Q: I have a question concerning a vehicle repo from 2006. My daughter had a car repossessed back in ...
A: If you have the funds I would offer them a lump sum settlement for 50% or less to make it go away. ...
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| Car Repossession | 12/8/2008 | Michael Brotherton |
Q: I am on the verge of having to let my car go...With the current economic situation, I am no longer ...
A: I am afraid they can place a lien on your home once they obtain a judgment. They have to go through ...
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