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Debt Relief – Insolvency – Bankruptcy Information » Entries tagged with "question"

Debt consolidation and student loans question?

I’m trying to repay my debt but I am having a very hard time. I have about 40k in debt including interest I’ve accumulated (over estimate, to be safe) most of which is 1 private and 1 federal student loan (probably 35k worth) and the rest are utility bills that are years past due. I’m in my twenties, not a home owner, and currently not a student. Most all of, if not all of, these debts have already gone to collections. I work a job with unsteady hours so I’m never sure how much my pay check will actually be for, this makes it very difficult to budget. Not to mention, I simply don’t make much money. I’ve been actively looking for a higher paying and steadier job but haven’t … Read entire article »

Filed under: Student Loan Help

Question about the making home affordable plan the government signed.?

I’ve been online and researched about the making home affordable program and I’ve found out there’s two parts to the program: one called the home affordable refinance and the other home affordable modification. The home affordable refinance requires the loans to be either fannie mae or freddie mac to qualify. The home affordable modification helps the others that do not have loans with fannie mae or freddic mac. I keep calling my mortgage company, Countrywide, becuase they posted online that they supposedly started to take applications for the goverment program. But everytime I call, they keep saying my loan is not a fannie mae or freddic mac loan; therefore, I do not qualify. I just want to know if there is anybody that does not have a fannie mae or freddic mac loan … Read entire article »

Filed under: Mortgage Refinancing

Tax question about Form 982 – Reduction of Tax Attributes Due to Discharge of Indebtedness?

Could someone please explain line 10a? Line 10a. In the case of a title 11 case or insolvency (except when an election under section 108(b)(5) is made), the reduction in basis is limited to the aggregate of the basis of your property immediately after the discharge over the aggregate of your liabilities immediately after the discharge. (what does all that goop mean?) Also, what does it mean below by (other than qualified principal residence indebtedness) ? A nonbusiness debt (other than qualified principal residence indebtedness, such as a car loan or credit card debt) I had a Credit card cancel debt and two mortgages, one mortgage was a second mortgage on my main house, the other was a second mortgage on a rental. Any help with filling out this form is appreciated. … Read entire article »

Filed under: Insolvency

Calgary Bankruptcy Question How Wage Garnishment Works in Alberta Bromwich & Smith specializes in resolving personal and corporate insolvency-related problems such as surplus income in Alberta. Visit us now or contact us at 403 266-6665, email or come in for a free consultation. … Read entire article »

Filed under: Insolvency

Insurance company receivership question – subrogating claims?

If an insurance company (personal homeowners lines) is going to be in, or currently is in receivership, will they make try and subrogate against as many claims that they have paid out as they can? … Read entire article »

Filed under: Insolvency

question about bankruptcy and debt consolidation?

Ok I am going through a seperation with my wife and we bought a vehicle together,but its under my name and i can’t afford it plus all my other bills put together by myself I am close to 30,000 in debt I would like to do a consolidation before bankruptcy but does anyone have an idea how low my debt consolidation payments would be? or should i file bankruptcy? … Read entire article »

Filed under: Debt Consolidation and Refinancing

Refinancing mortgage question?

Does anyone know of a bank that has a great rate for refinancing approx. 4.6% or lower for a 15yr or 30 yr that doesn’t require PMI if less than 20% equity is in home. Well I have a 6% 30 yr w/ no PMI w/ a downpayment of 5% at the time of purchase, so no PMI does exist, you have to shop around. … Read entire article »

Filed under: Mortgage Refinancing

Please help me with a bankruptcy question.?

My mother in law racked up $40K worth of credit card. She lives off social security and has no other income. She owns her home and her land. She was told by a lawyer that because she owns her property she cannot declare bankruptcy. Now what? Is there any other solution. Can the creditors come take her land away from her since she cannot afford to keep paying them. … Read entire article »

Filed under: Bankruptcy Help

Is it better to put real income properties in question of ownership rights in receivership?

There are several properties in question but currently the monies from the property are going to the defendants, but I’m getting stuck with the bill(s). and what is a normal bond cost for a court appointed receivership. … Read entire article »

Filed under: Insolvency

Question about college degree?

I wed into a very wealthy family. My question is which degree in a BA would you advise. The company does most business in acquisitions of steel mills/liquidation and manufacturing of steel compontents. TIA … Read entire article »

Filed under: Insolvency

Mortgage refinancing question?

Would it be worth refinancing a home loan to get a lower rate? We could decrease the rate from 6.5 to 5.5 but it would add $12,000 to my current loan amount. It would remain a 30 year fixed. We’d also get to skip two months of payments (which is actually added into the loan, not really “skipped”); but it’s still money in hand. The current mortgage is less than a year old. Would the refinance be worth it? I forgot to say, there are no prepayment penalties. And the added money to the mortgage will make the mortgage more than the house is currently worth (though that may change eventually…hope I hope). … Read entire article »

Filed under: Mortgage Refinancing

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