Getting out of debts is the main concern of each and every person these days. Recession is the major cause for bringing the people in to the viscous circle of debts. Over the last few years many people are suffering from the pressure of unsecured debts and the only reason for this is economic break … Read more
Federal Trade Commission (FTC) Chairman Jon Leibowitz was recently joined by California Attorney General Jerry Brown to announce the initiation of “Operation Loan Lies”, a coordinated national law enforcement effort to crack down on mortgage loan modification scams. The operation has already filed 189 actions by 25 federal and state agencies against fraudulent loan shops that … Read more
In 2005, after nearly 25 years of neglect, broad changes were made to the US Bankruptcy Code in order to answer allegations by creditor organizations that the bankruptcy system was being abused and creating large losses in profit. As a result, new reforms were developed and passed that made filing for bankruptcy much harder, exempted … Read more