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Jun 2011
Personal Finance Articles Selected for You
June 30, 2011
Below is a selection of personal finance articles that I thought you might find worthwhile.
Photo credit: Aloshbennett from flickr
Tips for Selling Your House Yourself - Forbes
The Top 6 Benefits of Starting A Home Based Business - Forbes
Create A Budget & Stick to It - CNN Money
Save: Redecorate With What You Already Own - Bankrate
How My Generosity Got Me $8,000 In Debt - Get Rich Slowly
Outsourcing Household Chores: Cost-Effective Move or the Ultimate In Anti-Frugal? - Frugal Dad
How to Quit Your Job - Wise Bread
Save Gas on Your Next Road Trip - Good Housekeeping
Put Your Credit Cards on Ice - Consumerism Commentary
Best Money Tips: Save Money While You Sleep - Wise Bread
Schedule Regular Fridge Cleanings to Prevent Food Waste - Wise Bread
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Photo credit: Aloshbennett from flickr
Tips for Selling Your House Yourself - Forbes
The Top 6 Benefits of Starting A Home Based Business - Forbes
Create A Budget & Stick to It - CNN Money
Save: Redecorate With What You Already Own - Bankrate
How My Generosity Got Me $8,000 In Debt - Get Rich Slowly
Outsourcing Household Chores: Cost-Effective Move or the Ultimate In Anti-Frugal? - Frugal Dad
How to Quit Your Job - Wise Bread
Save Gas on Your Next Road Trip - Good Housekeeping
Put Your Credit Cards on Ice - Consumerism Commentary
Best Money Tips: Save Money While You Sleep - Wise Bread
Schedule Regular Fridge Cleanings to Prevent Food Waste - Wise Bread
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
US Mortgage Modifications Down 10.5% From Year Ago
June 30, 2011
Credit: Dingnindadrebelde from flickr
Dow Jones Newswires reports that the number of troubled US homeowners receiving help with their mortgages fell by more than 10% from a year ago, as fewer borrowers qualified for help.
Click here to read the full article, as published on the NASDAQ website.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
If You're In Foreclosure, Consider "Cash for Keys"
June 28, 2011
Typically, clients who are in foreclosure are eager to hold onto their homes.
Of course, there is often a tremendous amount of emotion associated with your home. I’m not here to debate that whatsoever.
As a matter of fact, I always ask clients what their preference is with regard to their homes, eventhough they haven’t been able to pay their mortgage in the past 6 months to 2 years.
About 90% of the time, clients tell me that they want to hold onto their home for as long as possible, and my goal is to help them reach this objective utilizing innovative foreclosure defense strategies and other creative solutions.
The remaining 10% of clients are ready to “surrender” their homes to the mortgage company. These clients have reluctantly come to grips with the logical financial aspects of trying to hold onto their house, which is worth far less than the mortgages encumbering it, realizing that their current household income will never enable them to pay off their mortgage during their lifetimes.
I admire these clients’ ability to think clearly and logically about their situation, realizing that although holding onto their house would be ideal...the household income and fair market value of the property make it completely impossible. Accepting the fact that you can no longer afford to keep your home, while still not knowing where you’re going to live after leaving your current residence is absolutely a terrifying concept.
Most clients in this situation acknowledge the inevitable fate that they will have to move out eventually, but typically, they are not eager to expedite the process whatsoever. I help these clients by helping them leverage the legal process in order to maximize the amount of time they may have in the property prior to being evicted by the Sheriff.
Of the 10% of clients who accept the fact that staying in the house long term is simply not a realistic option, there are even fewer clients who are eager to walk away from the property even sooner.
This happens when clients have landed a new job at another location, requiring them to move; when clients have recently divorced or gotten remarried, and the premises are vacant; or when clients are simply ready to “cut ties” with the old property and start a new life at another location.
Yes, it happens.
For clients in this category, there is a concept, which is quietly and slowly gaining in popularity with lenders, called “Cash for Keys.”
Photo credit: JMRosenfeld from flickr.
“Cash for Keys” is when the mortgage company offers the homeowner several thousand dollars as an incentive to move out of the foreclosed property expeditiously, and in good condition. The lender benefits by not having to wait many months until the entire foreclosure process ends, while the homeowner is provided with the cash incentive to help pay for the first month (or two) of a rental property at another location.
If you find yourself in foreclosure, and have been considering a short sale, deed in lieu of foreclosure, bankruptcy or mortgage modification, talk to an experienced attorney regarding the “Cash for Keys” option, which might be available to you from your mortgage company.
...Hey, it can’t hurt to ask!
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Of course, there is often a tremendous amount of emotion associated with your home. I’m not here to debate that whatsoever.
As a matter of fact, I always ask clients what their preference is with regard to their homes, eventhough they haven’t been able to pay their mortgage in the past 6 months to 2 years.
About 90% of the time, clients tell me that they want to hold onto their home for as long as possible, and my goal is to help them reach this objective utilizing innovative foreclosure defense strategies and other creative solutions.
The remaining 10% of clients are ready to “surrender” their homes to the mortgage company. These clients have reluctantly come to grips with the logical financial aspects of trying to hold onto their house, which is worth far less than the mortgages encumbering it, realizing that their current household income will never enable them to pay off their mortgage during their lifetimes.
I admire these clients’ ability to think clearly and logically about their situation, realizing that although holding onto their house would be ideal...the household income and fair market value of the property make it completely impossible. Accepting the fact that you can no longer afford to keep your home, while still not knowing where you’re going to live after leaving your current residence is absolutely a terrifying concept.
Most clients in this situation acknowledge the inevitable fate that they will have to move out eventually, but typically, they are not eager to expedite the process whatsoever. I help these clients by helping them leverage the legal process in order to maximize the amount of time they may have in the property prior to being evicted by the Sheriff.
Of the 10% of clients who accept the fact that staying in the house long term is simply not a realistic option, there are even fewer clients who are eager to walk away from the property even sooner.
This happens when clients have landed a new job at another location, requiring them to move; when clients have recently divorced or gotten remarried, and the premises are vacant; or when clients are simply ready to “cut ties” with the old property and start a new life at another location.
Yes, it happens.
For clients in this category, there is a concept, which is quietly and slowly gaining in popularity with lenders, called “Cash for Keys.”
Photo credit: JMRosenfeld from flickr.
“Cash for Keys” is when the mortgage company offers the homeowner several thousand dollars as an incentive to move out of the foreclosed property expeditiously, and in good condition. The lender benefits by not having to wait many months until the entire foreclosure process ends, while the homeowner is provided with the cash incentive to help pay for the first month (or two) of a rental property at another location.
If you find yourself in foreclosure, and have been considering a short sale, deed in lieu of foreclosure, bankruptcy or mortgage modification, talk to an experienced attorney regarding the “Cash for Keys” option, which might be available to you from your mortgage company.
...Hey, it can’t hurt to ask!
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Why Smart People Make Bad Spending Decisions
June 28, 2011
This is one great article, which helps bring a fresh perspective to those who argue:
1. I got it on a great discount!
2. For only $___ more, I upgraded to a better model!
3. The store had a fantastic financing deal, so I don’t have to pay for another 90 days!
Photo credit: “AroundTuscany” on flickr.
Read the article. Give it some thought, and try to make some positive changes with your personal finances today.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
1. I got it on a great discount!
2. For only $___ more, I upgraded to a better model!
3. The store had a fantastic financing deal, so I don’t have to pay for another 90 days!
Photo credit: “AroundTuscany” on flickr.
Read the article. Give it some thought, and try to make some positive changes with your personal finances today.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
It's True: You Can Travel Without A Credit Card
June 28, 2011
Photo credit: “gutierrezcars” on flickr.
I can’t tell you how many times I meet a client who tells me that they can’t cut the umbilical cord with the credit cards because they “need it for traveling.”
My response is always the same: “I have a debit card, and I’ve used that for travel in the past without any problems whatsoever.”
If credit cards are so critical to the travel industry, it really begs the question how anyone was able to pay for hotels, airfare, gas or car rentals before they got a credit card.
Does that mean that they used.....CASH? Checks?
I understand that most hotels and car rental companies will try to encourage customers to have a credit card on file.
These same companies will be more than happy to take your debit card instead of your credit card.
This article, posted by Dave Ramsey, explains the simplicity and practicality of using your debit card instead of your credit card when traveling.
After you read the article, take a leap and cut up those credit cards, ok?
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Foreclosure News
June 23, 2011
Backlog of Cases Gives a Reprieve on Foreclosures
Is There Light at the End of the US Foreclosure Tunnel?
Connecticut’s Pending Home Foreclosures Will Take 10 Years to Process
Mortgage Debt, A Lasting Burden
Are Homeowners Fixing Their Balance Sheets?
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Is There Light at the End of the US Foreclosure Tunnel?
Connecticut’s Pending Home Foreclosures Will Take 10 Years to Process
Mortgage Debt, A Lasting Burden
Are Homeowners Fixing Their Balance Sheets?
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
College Students and Credit Card Debt
June 22, 2011
Overzealous college students find trouble as they fall into debt. With tuition rates that reach $55,000 annually, the cost of books and coffee, and the financial pressures of a blooming social life, students use a credit card to cover expenses.
According to Consumer Reports, 2011 college graduates left school with the highest average debt to date. Though many students are finance-savvy and learn to balance their credit histories, others achieve a low credit score from the get go. This low credit score will follow them for the next seven years.
Some experts say that students should rely on their debit cards rather than credit cards. Besides, you can’t spend money you don’t have. Others insist that students should open credit accounts early on to build a credit score. This would allow them to lease cars, rent property, and get a job later in life. Despite your financial beliefs, plastic is an undying trend on college campuses.
The CARD Act, implemented in 2009, protects young card users from falling victim to credit card companies. In order to apply for a credit card, students under the age of 21 must have a co-signer or proof of a source of income. Though beneficial to naïve spenders, the CARD Act limits young people’s ability to establish credit. With a low or nonexistent credit score, a student’s ability to acquire a job is hindered, as well as his/her ability to take out loans. Many employers consider a candidate’s history with credit to be a reflection on how he/she performs. Not only will these students lack a credit history, but also the financial knowledge and experience that comes with card ownership.
As the debit versus credit debate rages on, students continue to move towards credit cards with little financial consideration. To prevent college students from falling victim to interest payments and credit debt, here are some tips for finding and owning a card appropriate for today’s college student:
• Consider getting a credit card from a bank you already have an account with.
• Go over all of the fine print.
• Check for an annual fee or any other penalty fees.
• Never go over your limit.
• Pay your balance in full and on time.
• Reserve the credit card for emergencies. (This does not include shopping emergencies).
• Check the Annual Percentage Rate (APR), which is relevant to interest charges, and identify whether it will rise after time.
Falling into credit debt can be very expensive, especially for college students. Protect yourself and your children while still providing them with long-sought-after independence. If you can’t seem to escape the plastic trend, prepare yourself and others on how to be financial independent and smart.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
According to Consumer Reports, 2011 college graduates left school with the highest average debt to date. Though many students are finance-savvy and learn to balance their credit histories, others achieve a low credit score from the get go. This low credit score will follow them for the next seven years.
Some experts say that students should rely on their debit cards rather than credit cards. Besides, you can’t spend money you don’t have. Others insist that students should open credit accounts early on to build a credit score. This would allow them to lease cars, rent property, and get a job later in life. Despite your financial beliefs, plastic is an undying trend on college campuses.
The CARD Act, implemented in 2009, protects young card users from falling victim to credit card companies. In order to apply for a credit card, students under the age of 21 must have a co-signer or proof of a source of income. Though beneficial to naïve spenders, the CARD Act limits young people’s ability to establish credit. With a low or nonexistent credit score, a student’s ability to acquire a job is hindered, as well as his/her ability to take out loans. Many employers consider a candidate’s history with credit to be a reflection on how he/she performs. Not only will these students lack a credit history, but also the financial knowledge and experience that comes with card ownership.
As the debit versus credit debate rages on, students continue to move towards credit cards with little financial consideration. To prevent college students from falling victim to interest payments and credit debt, here are some tips for finding and owning a card appropriate for today’s college student:
• Consider getting a credit card from a bank you already have an account with.
• Go over all of the fine print.
• Check for an annual fee or any other penalty fees.
• Never go over your limit.
• Pay your balance in full and on time.
• Reserve the credit card for emergencies. (This does not include shopping emergencies).
• Check the Annual Percentage Rate (APR), which is relevant to interest charges, and identify whether it will rise after time.
Falling into credit debt can be very expensive, especially for college students. Protect yourself and your children while still providing them with long-sought-after independence. If you can’t seem to escape the plastic trend, prepare yourself and others on how to be financial independent and smart.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Personal Finance: Selected Articles
June 22, 2011
Below are a selection of articles that I recently came across - focused on personal finance, living frugally and managing debt.
I thought they were worth sharing.
6 Tips to Stretch Your Vacation Dollars
5 Ways to Live Below Your Means
Hourly vs. Salary: Which is Better?
Frugal Fourth of July Party Ideas
Personal Finance 101: What is an Asset?
8 Personal Finance Basics to Tackle Now
4 Pointers on Negotiating Your Starting Salary
5 Ways to Dress the Family for Less
Why It’s Time to Buy A Home
7 Ways to Maintain a Good Credit Score
Make-Ahead Food: 10 Things to Cook on a Sunday
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
I thought they were worth sharing.
6 Tips to Stretch Your Vacation Dollars
5 Ways to Live Below Your Means
Hourly vs. Salary: Which is Better?
Frugal Fourth of July Party Ideas
Personal Finance 101: What is an Asset?
8 Personal Finance Basics to Tackle Now
4 Pointers on Negotiating Your Starting Salary
5 Ways to Dress the Family for Less
Why It’s Time to Buy A Home
7 Ways to Maintain a Good Credit Score
Make-Ahead Food: 10 Things to Cook on a Sunday
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Fox Business News Quotes David Giller on Handling Foreclosure Cases
June 15, 2011
Several weeks ago I received a call from a reporter at Fox News.
She introduced herself, and mentioned that she came across my name while researching attorneys who handle foreclosure defense and mortgage modifications successfully in the country.
Believe it or not, there aren’t THAT many attorneys who handle foreclosure defense, because most attorneys shy away from clients who are on the lower end of the financial spectrum.
She asked me a few questions regarding how I handle foreclosure cases, what solutions I am able to find for my clients, and how successful I’ve been at getting these issues resolved.
She graciously thanked me, and I didn’t hear from her again.
Today I received an alert from Google that my name appeared in this article, titled: “Is it Time to Sue Your Mortgage Lender?”
In the article, Gina Pogol mentions the horrible experience that most homeowners face when requesting a mortgage modification from their lender or servicer, and she gives from fantastic practical advice on how to approach the situation in an effective manner.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
She introduced herself, and mentioned that she came across my name while researching attorneys who handle foreclosure defense and mortgage modifications successfully in the country.
Believe it or not, there aren’t THAT many attorneys who handle foreclosure defense, because most attorneys shy away from clients who are on the lower end of the financial spectrum.
She asked me a few questions regarding how I handle foreclosure cases, what solutions I am able to find for my clients, and how successful I’ve been at getting these issues resolved.
She graciously thanked me, and I didn’t hear from her again.
Today I received an alert from Google that my name appeared in this article, titled: “Is it Time to Sue Your Mortgage Lender?”
In the article, Gina Pogol mentions the horrible experience that most homeowners face when requesting a mortgage modification from their lender or servicer, and she gives from fantastic practical advice on how to approach the situation in an effective manner.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
College Students Overwhelmed with Debt
June 14, 2011
College students fresh on the college campus have every right to feel like they are “grown up.”
Many have moved out of their parents’ homes to attend school in another town.
Within the first few days of school, they visit the college campus bookstore to pick up the books they need for the upcoming semester.
Before they walk in, credit card companies are eagerly waiting to greet them outside the college bookstore, giving out free t-shirts and mugs for new cardholders.
Earn points!
Get money back!
Free travel!
Yes, it all seems very appealing.
These same college students have never been provided an education on how to use credit cards, how to budget, or how to save.
They sign up for the credit cards, start making innocuous purchases - for books, groceries and gas. The convenience of using these credit cards is phenomenal.
They continue to use the credit cards as they visit restaurants with their friends, going out to the movies on weekends, and maybe even book their first winter break trip with some college buddies.
This is a recipe for disaster.
If you have a college student, you need to watch this video.
Then go talk to your favorite college student, and try to help them avoid the debt trap which is so prevalent around college campuses throughout the country.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Many have moved out of their parents’ homes to attend school in another town.
Within the first few days of school, they visit the college campus bookstore to pick up the books they need for the upcoming semester.
Before they walk in, credit card companies are eagerly waiting to greet them outside the college bookstore, giving out free t-shirts and mugs for new cardholders.
Earn points!
Get money back!
Free travel!
Yes, it all seems very appealing.
These same college students have never been provided an education on how to use credit cards, how to budget, or how to save.
They sign up for the credit cards, start making innocuous purchases - for books, groceries and gas. The convenience of using these credit cards is phenomenal.
They continue to use the credit cards as they visit restaurants with their friends, going out to the movies on weekends, and maybe even book their first winter break trip with some college buddies.
This is a recipe for disaster.
If you have a college student, you need to watch this video.
Then go talk to your favorite college student, and try to help them avoid the debt trap which is so prevalent around college campuses throughout the country.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
MSNBC: Renters Are Next Victims of the Housing Market
June 14, 2011
Renters typically feel immune to issues like foreclosures and dramatic decreases in property value.
Renters are now starting to experience some of the pain, through sudden increases in rental fees by landlords who are strapped for cash.
Read the full article from MSNBC right here.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Renters are now starting to experience some of the pain, through sudden increases in rental fees by landlords who are strapped for cash.
Read the full article from MSNBC right here.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Go from Surviving to Thriving at Work
June 14, 2011
Most people aren’t overly excited about their work.
“That’s why we call it work,” most people say.
“Just ___ days away from the next weekend!”
It really doesn’t have to be that way.
I’m not suggesting that you pack up your stuff and quit. I’m suggesting taking on a slightly different perspective, and making small changes to the way in which you manage yourself within your current job, in order to make it more fulfilling, rewarding and enjoyable.
Check out this interesting article that I recently found on the Psychology Today website, which dives a little deeper on this subject.
Enjoy.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
“That’s why we call it work,” most people say.
“Just ___ days away from the next weekend!”
It really doesn’t have to be that way.
I’m not suggesting that you pack up your stuff and quit. I’m suggesting taking on a slightly different perspective, and making small changes to the way in which you manage yourself within your current job, in order to make it more fulfilling, rewarding and enjoyable.
Check out this interesting article that I recently found on the Psychology Today website, which dives a little deeper on this subject.
Enjoy.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Handling Unwanted Telephone Marketing Calls
June 13, 2011
This information is provided by the FCC.
Background
Has your evening quiet time or dinner been interrupted by a call from a telemarketer? If so, you’re not alone. Congress first passed the Telephone Consumer Protection Act (TCPA) in 1991 in response to consumer concerns about the growing number of unsolicited telephone marketing calls to their homes and the increasing use of automated and prerecorded messages. In response, the Federal Communications Commission (FCC) adopted rules that require anyone making a telephone solicitation call to your home to provide his or her name, the name of the person or entity on whose behalf the call is being made, and a telephone number or address at which that person or entity can be contacted. The original rules also prohibit telephone solicitation calls to your home before 8 am or after 9 pm, and require telemarketers to comply with any do-not-call request you make directly to the caller during a solicitation call. Telemarketers covered by the National Do-Not-Call Registry have up to 31 days from the date that you register your telephone number to remove it from their call lists and stop calling you. In June 2003, the FCC supplemented its original rules implementing the TCPA and established, together with the Federal Trade Commission (FTC), the national Do-Not-Call list.
The National Do-Not-Call List
Once you have placed your home phone number or numbers, including any personal wireless phone numbers, on the national Do-Not-Call list, callers are prohibited from making telephone solicitations to those number(s). Your number or numbers will remain on the list until you remove them or discontinue service – there is no need to re-register numbers.
The national Do-Not-Call list protects home voice or personal wireless phone numbers only. While you may be able to register a business number, your registration will not make telephone solicitations to that number unlawful. Similarly, registering either a home or business fax number will not make sending a fax advertisement to that number unlawful, but the FCC has separate rules that prohibit unsolicited fax advertisements under most circumstances. For more information on the rules for fax advertisements, see our consumer fact sheet, or visit our website.
A telephone solicitation is a telephone call that acts as an advertisement. The term does not include calls or messages placed with your express prior permission, by or on behalf of a tax-exempt non-profit organization, or from a person or organization with which you have an established business relationship (EBR). An EBR exists if you have made an inquiry, application, purchase, or transaction regarding products or services offered by the person or entity involved. Generally, you may put an end to that relationship by telling the person or entity not to place any more solicitation calls to your home. Additionally, the EBR is only in effect for 18 months after your last business transaction or three months after your last inquiry or application. After these time periods, calls placed to your home phone number or numbers by that person or entity are considered telephone solicitations subject to the do-not-call rules.
While registering home phone numbers on the national Do-Not-Call list prohibits telephone solicitations, this action does not make prank or harassing calls unlawful. For problems with such calls, contact local law enforcement agencies.
You can register your home phone number or numbers on the national Do-Not-Call list by phone or by Internet at no cost. Add a phone number to the national Do-Not-Call list via the Internet. To register by phone, call 1-888-382-1222 (voice) or 1-866-290-4236 (TTY). You must call from the phone number you wish to register. For more information on the national Do-Not-Call list, visit our website at www.fcc.gov/cgb/donotcall.
Company-Specific Do-Not-Call Lists
Whether or not your home phone number or numbers are registered on the national Do-Not-Call list, the FCC requires a person or entity placing voice telephone solicitations to your home to maintain a record of your direct request to that caller not to receive future telephone solicitations from that person or entity. The calling company must honor your do-not-call request for five years. To prevent calls after five years, you will need to repeat your request to the company, and it must honor it for another five years (and so on). Your request should also stop calls from affiliated entities if you would reasonably expect them to be included, given the identification of the caller and the product being advertised. Unless your home phone number or numbers are registered on the national Do-Not-Call list, however, you must make a separate do-not-call request to each telemarketer from whom you do not wish to receive calls.
When you receive telephone solicitation calls, clearly state that you want to be added to the caller’s do-not-call list. You may want to keep a list of those persons or businesses that you have asked not to call you. Tax-exempt non-profit organizations are not required to keep do-not-call lists.
State Do-Not-Call Lists
Additionally, many states now have statewide do-not-call lists for residents in their respective states. Contact your state’s public service commission or consumer protection office to see if your state has such a list, and to find out how to register your number or numbers. For contact information for your state public service commission, go to www.naruc.org/commissions.cfm. You can also find contact information for these offices in the blue pages or government section of your local telephone directory.
Automatic Telephone Dialing Systems and Artificial or Prerecorded Voice Calls
The FCC has specific rules for automatic telephone dialing systems, also known as “autodialers.” These devices can be particularly annoying and generate many consumer complaints. The rules regarding automatically dialed and prerecorded calls apply whether or not you have registered your home phone number(s) on the national Do-Not-Call list.
Autodialers can produce, store, and dial telephone numbers using a random or sequential number generator. They often place artificial (computerized) or prerecorded voice calls. The use of autodialers, including predictive dialers, often results in abandoned calls – hang-ups or “dead air.” Except for emergency calls or calls made with the prior express consent of the person being called, autodialers and any artificial or prerecorded voice messages may not be used to contact numbers assigned to:
Calls using artificial or prerecorded voice messages – including those that do not use autodialers – may not be made to home phone numbers except for:
In addition, the FCC’s rules prohibit the use of autodialers in a way that ties up two or more lines of a multi-line business at the same time. All artificial or prerecorded telephone messages must state, at the beginning, the identity of the business, individual, or other entity that is responsible for initiating the call. If a business is responsible for initiating the call, the name under which the entity is registered to conduct business with the State Corporation Commission (or comparable regulatory authority) must be stated. During or after the message, the caller must give the telephone number (other than that of the autodialer or prerecorded message player that placed the call) of the business, other entity, or individual that made the call so that you can call during regular business hours to ask that the company no longer call you. The number provided may not be a 900 number or any other number for which charges exceed local or long distance charges.
Autodialers that deliver a recorded message must release the called party’s telephone line within five seconds of the time that the calling system receives notification that the called party’s line has hung up. In some areas, you could experience a delay before you can get a dial tone again. Your local telephone company can tell you if there is a delay in your area.
Telemarketers must ensure that predictive dialers abandon no more than three percent of all calls placed and answered by a person. A call will be considered "abandoned" if it is not transferred to a live sales agent within two seconds of the recipient's greeting.
Caller Identification (ID)
If you have caller ID, a telemarketer is required to transmit or display its phone number and, if available, its name or the name and phone number of the company for which it is selling products. The display must include a phone number that you can call during regular business hours to ask that the company no longer call you. This rule applies even if you have an EBR with the company, and even if you have not registered your home phone number(s) on the national Do-Not-Call list. Before these rules took effect, the words “private,” “out of area,” or “unavailable” might have appeared on the Caller ID display.
What You Can Do
The FCC can issue warning citations and impose fines against companies violating or suspected of violating the do-not-call rules, but does not award individual damages. If you receive a telephone solicitation that you think violates any of these rules, you can file a complaint with the FCC. There is no charge for filing a complaint. You can file your complaint using an on-line complaint form. You can also file your complaint with the FCC’s Consumer Center by calling 1-888-CALL-FCC (1-888-225-5322) voice or 1-888-TELL-FCC (1-888-835-5322) TTY; faxing 1-866-418-0232; or writing to:
Federal Communications Commission
Consumer & Governmental Affairs Bureau
Consumer Inquiries & Complaints Division
445 12th Street, SW
Washington, DC 20554.
What to Include in Your Complaint
The best way to provide all the information the FCC needs to process your complaint is to complete fully the on-line complaint form. When you open the on-line complaint form, you will be asked a series of questions that will take you to the particular section of the form you need to complete. If you do not use the on-line complaint form, your complaint, at a minimum, should indicate:
Some states permit you to file law suits in state court against persons or entities violating the do-not-call rules. You may be awarded $500 in damages or actual monetary loss, whichever is greater. The amount may be tripled if you are able to show that the caller violated the rules willfully and knowingly. Filing a complaint with the FCC does not prevent you from also bringing a suit in state court.
States also can bring a civil law suit against any person or entity that engages in a pattern or practice of violating the TCPA or FCC rules. You can contact your state Attorney General’s office or consumer protection agency with particular complaints, or to encourage such suits.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Background
Has your evening quiet time or dinner been interrupted by a call from a telemarketer? If so, you’re not alone. Congress first passed the Telephone Consumer Protection Act (TCPA) in 1991 in response to consumer concerns about the growing number of unsolicited telephone marketing calls to their homes and the increasing use of automated and prerecorded messages. In response, the Federal Communications Commission (FCC) adopted rules that require anyone making a telephone solicitation call to your home to provide his or her name, the name of the person or entity on whose behalf the call is being made, and a telephone number or address at which that person or entity can be contacted. The original rules also prohibit telephone solicitation calls to your home before 8 am or after 9 pm, and require telemarketers to comply with any do-not-call request you make directly to the caller during a solicitation call. Telemarketers covered by the National Do-Not-Call Registry have up to 31 days from the date that you register your telephone number to remove it from their call lists and stop calling you. In June 2003, the FCC supplemented its original rules implementing the TCPA and established, together with the Federal Trade Commission (FTC), the national Do-Not-Call list.
The National Do-Not-Call List
Once you have placed your home phone number or numbers, including any personal wireless phone numbers, on the national Do-Not-Call list, callers are prohibited from making telephone solicitations to those number(s). Your number or numbers will remain on the list until you remove them or discontinue service – there is no need to re-register numbers.
The national Do-Not-Call list protects home voice or personal wireless phone numbers only. While you may be able to register a business number, your registration will not make telephone solicitations to that number unlawful. Similarly, registering either a home or business fax number will not make sending a fax advertisement to that number unlawful, but the FCC has separate rules that prohibit unsolicited fax advertisements under most circumstances. For more information on the rules for fax advertisements, see our consumer fact sheet, or visit our website.
A telephone solicitation is a telephone call that acts as an advertisement. The term does not include calls or messages placed with your express prior permission, by or on behalf of a tax-exempt non-profit organization, or from a person or organization with which you have an established business relationship (EBR). An EBR exists if you have made an inquiry, application, purchase, or transaction regarding products or services offered by the person or entity involved. Generally, you may put an end to that relationship by telling the person or entity not to place any more solicitation calls to your home. Additionally, the EBR is only in effect for 18 months after your last business transaction or three months after your last inquiry or application. After these time periods, calls placed to your home phone number or numbers by that person or entity are considered telephone solicitations subject to the do-not-call rules.
While registering home phone numbers on the national Do-Not-Call list prohibits telephone solicitations, this action does not make prank or harassing calls unlawful. For problems with such calls, contact local law enforcement agencies.
You can register your home phone number or numbers on the national Do-Not-Call list by phone or by Internet at no cost. Add a phone number to the national Do-Not-Call list via the Internet. To register by phone, call 1-888-382-1222 (voice) or 1-866-290-4236 (TTY). You must call from the phone number you wish to register. For more information on the national Do-Not-Call list, visit our website at www.fcc.gov/cgb/donotcall.
Company-Specific Do-Not-Call Lists
Whether or not your home phone number or numbers are registered on the national Do-Not-Call list, the FCC requires a person or entity placing voice telephone solicitations to your home to maintain a record of your direct request to that caller not to receive future telephone solicitations from that person or entity. The calling company must honor your do-not-call request for five years. To prevent calls after five years, you will need to repeat your request to the company, and it must honor it for another five years (and so on). Your request should also stop calls from affiliated entities if you would reasonably expect them to be included, given the identification of the caller and the product being advertised. Unless your home phone number or numbers are registered on the national Do-Not-Call list, however, you must make a separate do-not-call request to each telemarketer from whom you do not wish to receive calls.
When you receive telephone solicitation calls, clearly state that you want to be added to the caller’s do-not-call list. You may want to keep a list of those persons or businesses that you have asked not to call you. Tax-exempt non-profit organizations are not required to keep do-not-call lists.
State Do-Not-Call Lists
Additionally, many states now have statewide do-not-call lists for residents in their respective states. Contact your state’s public service commission or consumer protection office to see if your state has such a list, and to find out how to register your number or numbers. For contact information for your state public service commission, go to www.naruc.org/commissions.cfm. You can also find contact information for these offices in the blue pages or government section of your local telephone directory.
Automatic Telephone Dialing Systems and Artificial or Prerecorded Voice Calls
The FCC has specific rules for automatic telephone dialing systems, also known as “autodialers.” These devices can be particularly annoying and generate many consumer complaints. The rules regarding automatically dialed and prerecorded calls apply whether or not you have registered your home phone number(s) on the national Do-Not-Call list.
Autodialers can produce, store, and dial telephone numbers using a random or sequential number generator. They often place artificial (computerized) or prerecorded voice calls. The use of autodialers, including predictive dialers, often results in abandoned calls – hang-ups or “dead air.” Except for emergency calls or calls made with the prior express consent of the person being called, autodialers and any artificial or prerecorded voice messages may not be used to contact numbers assigned to:
- any emergency telephone line;
- the telephone line of any guest or patient room at a hospital, health care facility, home for the elderly, or similar establishment;
- a paging service, wireless phone service (including both voice calls and text messages), or other commercial mobile radio service; or
- any other service for which the person being called would be charged for the call.
Calls using artificial or prerecorded voice messages – including those that do not use autodialers – may not be made to home phone numbers except for:
- emergency calls needed to ensure the consumer’s health and safety;
- calls for which you have given prior express consent;
- non-commercial calls;
- calls that don’t include or introduce any unsolicited advertisements or constitute telephone solicitations;
- calls by, or on behalf of, tax-exempt non-profit organizations; or
- calls from entities with which you have an EBR.
In addition, the FCC’s rules prohibit the use of autodialers in a way that ties up two or more lines of a multi-line business at the same time. All artificial or prerecorded telephone messages must state, at the beginning, the identity of the business, individual, or other entity that is responsible for initiating the call. If a business is responsible for initiating the call, the name under which the entity is registered to conduct business with the State Corporation Commission (or comparable regulatory authority) must be stated. During or after the message, the caller must give the telephone number (other than that of the autodialer or prerecorded message player that placed the call) of the business, other entity, or individual that made the call so that you can call during regular business hours to ask that the company no longer call you. The number provided may not be a 900 number or any other number for which charges exceed local or long distance charges.
Autodialers that deliver a recorded message must release the called party’s telephone line within five seconds of the time that the calling system receives notification that the called party’s line has hung up. In some areas, you could experience a delay before you can get a dial tone again. Your local telephone company can tell you if there is a delay in your area.
Telemarketers must ensure that predictive dialers abandon no more than three percent of all calls placed and answered by a person. A call will be considered "abandoned" if it is not transferred to a live sales agent within two seconds of the recipient's greeting.
Caller Identification (ID)
If you have caller ID, a telemarketer is required to transmit or display its phone number and, if available, its name or the name and phone number of the company for which it is selling products. The display must include a phone number that you can call during regular business hours to ask that the company no longer call you. This rule applies even if you have an EBR with the company, and even if you have not registered your home phone number(s) on the national Do-Not-Call list. Before these rules took effect, the words “private,” “out of area,” or “unavailable” might have appeared on the Caller ID display.
What You Can Do
The FCC can issue warning citations and impose fines against companies violating or suspected of violating the do-not-call rules, but does not award individual damages. If you receive a telephone solicitation that you think violates any of these rules, you can file a complaint with the FCC. There is no charge for filing a complaint. You can file your complaint using an on-line complaint form. You can also file your complaint with the FCC’s Consumer Center by calling 1-888-CALL-FCC (1-888-225-5322) voice or 1-888-TELL-FCC (1-888-835-5322) TTY; faxing 1-866-418-0232; or writing to:
Federal Communications Commission
Consumer & Governmental Affairs Bureau
Consumer Inquiries & Complaints Division
445 12th Street, SW
Washington, DC 20554.
What to Include in Your Complaint
The best way to provide all the information the FCC needs to process your complaint is to complete fully the on-line complaint form. When you open the on-line complaint form, you will be asked a series of questions that will take you to the particular section of the form you need to complete. If you do not use the on-line complaint form, your complaint, at a minimum, should indicate:
- your name, address, e-mail address, and phone number where you can be reached;
- the phone number where you received the call, and whether this number is on the national Do-Not-Call list;
- the date and time of the call;
- whether the call advertised or sold any property, goods, or services;
- any information (including a caller ID number) to help identify the individual or company whose property, goods, or services were being advertised or sold, and whether any of this information was provided during the call;
- whether you or anyone else in your household gave the caller permission to call;
- whether you have an EBR with the caller (specifically, whether you or anyone else in your household made any purchases of property, goods, or services from the individual or company that called, or made any inquiry or filed an application with the individual or company prior to receiving the call); and
- whether you or anyone in your household previously asked the caller or individual or company whose property, goods, or services are being advertised or sold NOT to call, and when you made the request.
Some states permit you to file law suits in state court against persons or entities violating the do-not-call rules. You may be awarded $500 in damages or actual monetary loss, whichever is greater. The amount may be tripled if you are able to show that the caller violated the rules willfully and knowingly. Filing a complaint with the FCC does not prevent you from also bringing a suit in state court.
States also can bring a civil law suit against any person or entity that engages in a pattern or practice of violating the TCPA or FCC rules. You can contact your state Attorney General’s office or consumer protection agency with particular complaints, or to encourage such suits.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Debt Collectors Seek New Media Tactics: Email, Cellphone & Text Messages
June 13, 2011
On Monday, June 13, 2011, the Association of Credit and Collection Professionals introduced a new approach to collect debts. If you've provided your cellphone number or email address to a creditor, they will leverage this information to reach you regarding your outstanding debt.
Read the entire article on ABC News.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Read the entire article on ABC News.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
HUD: "Bank of American Hindered Foreclosure Probe"
June 13, 2011
US officials, from the Department of Housing & Urban Development (HUD), acknowledged that Bank of America Corp. "significantly hindered" HUD's investigations in Bank of America's foreclosure practices.
Read the full story in this WSJ article.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Read the full story in this WSJ article.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
First Steps After A Job Loss
June 12, 2011
You probably know someone who recently lost their job.
Aside from feeling frustrated, ashamed, guilty and angry, they are also trying to focus their efforts on landing a new job.
Finding a job in this economy is no small task.
As each day passes, the friendly mailman drops off bills that simply can’t get paid.
We can only imagine how, all too quickly, this stressful scenario escalates to become completely unmanageable.
Unfortunately, this scenario is incredibly common in today’s market.
What should you do in order to stay focused and minimize the damage to your debt situation?
Below are some tips to help guide you. You will notice that many of these tips overlap with each other, and that’s exactly the point. These tips make up an entire mindset and approach to job hunting, which entails multiple elements.
Think of this as “Extreme Career Makeover”:
1. Stop making EXTRA payments towards your debt.
Now is the time to make ONLY the minimum payments necessary to your creditors. You just suffered a dramatic change in your income. You need to streamline immediately and ensure that there is enough cash available for food, clothing and shelter. Pay your mortgage/rent, pay your utility bills and buy groceries. You need to make very dollar stretch as much as possible. Now is not the time to pay off that American Express card. Simply make the minimum payments until your income rebounds.
2. If you’re getting severance, TRY to stash some of it in an emergency fund.
Of course this sounds like an impossible task. Drastic times call for drastic measures. Eat what’s in the pantry. Only keep the A/C on when absolutely necessary. Stop eating out. Try to put as much money as possible away for the time period when your severance will end...just in case you haven’t been able to find a replacement job by then. Try to put as much as you can in an emergency fund, which you will come to rely on after the severance checks stop.
3. Create a budget, to understand where your money has been going and reassess where to spend moving forward.
Spreadsheets, software, paper envelopes marked “groceries,” “gas,” “clothing” ....Hey, whatever works for you. Either way, you need to not only clearly identify how much money you can allocate to each of these expenses, but in order to do that properly, you need to identify how much you have been spending on each of these items during the past 6 months. Do it now.
4. Implement dramatic changes to your lifestyle immediately.
As mentioned above, now is not the time to buy gifts, go on vacations or visit any restaurants. This is when you take stock of your freezer and pantry. This is when you call the cable company and newspapers to cancel your subscriptions. Go to the library for books, music, movies and job hunting resources including newspapers. If you don’t make drastic changes to your lifestyle immediately, the damage with snowball exponentially within weeks instead of months.
5. Plastic surgery for your credit cards.
It’s very simple. Your first reaction is to rely heavily on your credit cards in order to purchase your groceries and gasoline while you look for a job. This is the wrong approach. Absolutely wrong.
Take a pair of scissors in one hand. Take your credit cards, one at a time, in the other hand. Cut them up like they are toxic. Do this over a garbage can, so you don’t even have to touch those shredded credit cards after destroying them.
If you’re feeling very tense at the thought of this, remember the food that is in the pantry and freezer, feeling completely ignored and abandoned. That is your food supply.
At this point, not only is your stomach rumbling, but you are incredibly eager to get another job, right?
Perfect.
That’s the motivation you need for the next few steps.
6. Get a part time job.
I can’t tell you how many clients I’ve met who were reluctant to look for, or take, a particular part time job because they felt the “cushion” provided by American Express, Visa, MasterCard and Discover. “Hey, I’m earning points towards a vacation by putting another month’s worth of living expenses on my American Express card, while I look for a BETTER job.”
WRONG APPROACH.
If you took Step #5 seriously and cut up your credit cards, you’re now looking at many part time jobs that you wouldn’t even have considered otherwise.
I’m not telling you to work at the local supermarket as a cashier.
I’m telling you to get creative and look for part time jobs, utilizing your skills, talents and experience at local organizations, schools and businesses. If you were a Marketing Executive before, look to utilize your marketing expertise as a part time consultant for several local businesses in your town.
You will be networking, while bringing in an income and staying actively engaged in your field - and possibly even starting up your own long term business venture.
7. Re-evaluate your skills to identify new potential career opportunities or new business ventures to start.
I meet many clients who tell me that they remained unemployed for longer than 6 months because they had trouble finding a job that was precisely like the one they had before. That’s understandable, especially in today’s market where entire industries have been hit hard by the economy.
If you were a hotel manager before you were laid off, you might have trouble finding hotels with job openings, as the hotel industry is perhaps struggling enormously right now.
Re-evaluate what other skills (people skills, project management skills, building management skills, computer skills) you have gained from your prior employment, coupled by your own talents, experience and interests. We are not single cell organisms with just one function. Tap into your own personal toolbox in order to unravel new industries, new roles and new positions that might be most fitting and appealing to you. The more flexible and open-minded you are, the stronger you will survive this temporary, albeit stressful phase in your career.
Stay focused.
Stay positive.
Stay active.
Stay frugal.
...and STAY AWAY FROM THE CREDIT CARDS. Please.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Aside from feeling frustrated, ashamed, guilty and angry, they are also trying to focus their efforts on landing a new job.
Finding a job in this economy is no small task.
As each day passes, the friendly mailman drops off bills that simply can’t get paid.
We can only imagine how, all too quickly, this stressful scenario escalates to become completely unmanageable.
Unfortunately, this scenario is incredibly common in today’s market.
What should you do in order to stay focused and minimize the damage to your debt situation?
Below are some tips to help guide you. You will notice that many of these tips overlap with each other, and that’s exactly the point. These tips make up an entire mindset and approach to job hunting, which entails multiple elements.
Think of this as “Extreme Career Makeover”:
1. Stop making EXTRA payments towards your debt.
Now is the time to make ONLY the minimum payments necessary to your creditors. You just suffered a dramatic change in your income. You need to streamline immediately and ensure that there is enough cash available for food, clothing and shelter. Pay your mortgage/rent, pay your utility bills and buy groceries. You need to make very dollar stretch as much as possible. Now is not the time to pay off that American Express card. Simply make the minimum payments until your income rebounds.
2. If you’re getting severance, TRY to stash some of it in an emergency fund.
Of course this sounds like an impossible task. Drastic times call for drastic measures. Eat what’s in the pantry. Only keep the A/C on when absolutely necessary. Stop eating out. Try to put as much money as possible away for the time period when your severance will end...just in case you haven’t been able to find a replacement job by then. Try to put as much as you can in an emergency fund, which you will come to rely on after the severance checks stop.
3. Create a budget, to understand where your money has been going and reassess where to spend moving forward.
Spreadsheets, software, paper envelopes marked “groceries,” “gas,” “clothing” ....Hey, whatever works for you. Either way, you need to not only clearly identify how much money you can allocate to each of these expenses, but in order to do that properly, you need to identify how much you have been spending on each of these items during the past 6 months. Do it now.
4. Implement dramatic changes to your lifestyle immediately.
As mentioned above, now is not the time to buy gifts, go on vacations or visit any restaurants. This is when you take stock of your freezer and pantry. This is when you call the cable company and newspapers to cancel your subscriptions. Go to the library for books, music, movies and job hunting resources including newspapers. If you don’t make drastic changes to your lifestyle immediately, the damage with snowball exponentially within weeks instead of months.
5. Plastic surgery for your credit cards.
It’s very simple. Your first reaction is to rely heavily on your credit cards in order to purchase your groceries and gasoline while you look for a job. This is the wrong approach. Absolutely wrong.
Take a pair of scissors in one hand. Take your credit cards, one at a time, in the other hand. Cut them up like they are toxic. Do this over a garbage can, so you don’t even have to touch those shredded credit cards after destroying them.
If you’re feeling very tense at the thought of this, remember the food that is in the pantry and freezer, feeling completely ignored and abandoned. That is your food supply.
At this point, not only is your stomach rumbling, but you are incredibly eager to get another job, right?
Perfect.
That’s the motivation you need for the next few steps.
6. Get a part time job.
I can’t tell you how many clients I’ve met who were reluctant to look for, or take, a particular part time job because they felt the “cushion” provided by American Express, Visa, MasterCard and Discover. “Hey, I’m earning points towards a vacation by putting another month’s worth of living expenses on my American Express card, while I look for a BETTER job.”
WRONG APPROACH.
If you took Step #5 seriously and cut up your credit cards, you’re now looking at many part time jobs that you wouldn’t even have considered otherwise.
I’m not telling you to work at the local supermarket as a cashier.
I’m telling you to get creative and look for part time jobs, utilizing your skills, talents and experience at local organizations, schools and businesses. If you were a Marketing Executive before, look to utilize your marketing expertise as a part time consultant for several local businesses in your town.
You will be networking, while bringing in an income and staying actively engaged in your field - and possibly even starting up your own long term business venture.
7. Re-evaluate your skills to identify new potential career opportunities or new business ventures to start.
I meet many clients who tell me that they remained unemployed for longer than 6 months because they had trouble finding a job that was precisely like the one they had before. That’s understandable, especially in today’s market where entire industries have been hit hard by the economy.
If you were a hotel manager before you were laid off, you might have trouble finding hotels with job openings, as the hotel industry is perhaps struggling enormously right now.
Re-evaluate what other skills (people skills, project management skills, building management skills, computer skills) you have gained from your prior employment, coupled by your own talents, experience and interests. We are not single cell organisms with just one function. Tap into your own personal toolbox in order to unravel new industries, new roles and new positions that might be most fitting and appealing to you. The more flexible and open-minded you are, the stronger you will survive this temporary, albeit stressful phase in your career.
Stay focused.
Stay positive.
Stay active.
Stay frugal.
...and STAY AWAY FROM THE CREDIT CARDS. Please.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Foreclosure Myths, Debunked
June 12, 2011
A recent article, which was written by Lew Sichelman for the Los Angeles Times, focused on common foreclosure myths.
I wanted to share this article with you, while highlighting some of the common myths mentioned in this piece:
If you are faced with a pending or active foreclosure lawsuit, you should definitely seek the advice of an experienced and qualified attorney who can help you sort out fact from fiction. Learn more about your rights in foreclosure, and what alternatives are available to help you get back on your feet and keep your home.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
I wanted to share this article with you, while highlighting some of the common myths mentioned in this piece:
- If I tell the mortgage company I’m having a problem, it will speed up the foreclosure process.
- If I miss just one payment, I’ll lose my home.
- I’ll rob Peter to pay Paul until I can get back on my feet.
- What choice is there but to lose my home?
- I’m receiving so many offers from people who say they are trying to help me save my home that they all must be scams.
- My lender isn’t responding to my inquiries.
- To get my lender’s attention, I should stop making my payments.
- If I’ve been turned down for a loan modification, there is no point in seeking further help.
If you are faced with a pending or active foreclosure lawsuit, you should definitely seek the advice of an experienced and qualified attorney who can help you sort out fact from fiction. Learn more about your rights in foreclosure, and what alternatives are available to help you get back on your feet and keep your home.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
June 12 2011: Personal Finance Roundup - Selected Content to Help You Survive This Economy
June 11, 2011
The latest and greatest iPad apps for personal finance
An array of new financial applications have been launched for the Apple iPad by such industry leaders as E-Trade, Merrill Lynch, TD Ameritrade, Bank of America and Chase. A new study by Corporate Insight, a research firm that provides financial companies with data on the customer experience, reviews and assesses the array of new mobile finance service apps.
How to Make Saving Fun
Keep track…budget…cut back…eliminate…go without…
5 Reasons Why Banks Hate Elizabeth Warren
Elizabeth Warren, it’s not you they hate. It’s what you represent. You want to be an honest cop when so many before you in Washington have looked the other way and pretended that the banking industry could police itself.
Economy Makes People Sick, Literally
In 2009, the stress caused by the recession sent Katie Pfledderer to the hospital.
Should College Students Have a Credit Card?
The decisions that student credit users make in their early years can impact their financial lives down the road. For many students, credit cards are a part of life, but they should be used responsibly. Here’s what the experts had to say about using plastic during college.
10 Ways to Beat the Blues in a Long Job Hunt
It's hard to stay upbeat when you've been pounding the pavement for months on end. Here are a few tips on how to stay in the game.
Turn Your Kids into Millionaires
Are you worried about the trillions of dollars of federal debt we’re leaving to the next generation? Don’t feel guilty, do something. You can start your kids now on a path to financial independence. Here are ten recipes for doing just that.
10 Industries With The Most Job Postings: Indeed.com
In this relatively jobless economic recovery, it can often feel like no one is hiring. But some industries are, in fact, looking to expand their workforce.
According to job search aggregator indeed.com's tracking of industry employment trends, 11 industries posted more job listings in May than during the previous month. Indeed.com watches job postings across 13 industries, such as health care, media and retail, using over 10,000 job sources worldwide, including listings from private companies and websites like CareerBuilder.com.
With a quarterly increase of 33 percent, the transportation industry has the fastest-growing demand for workers, and manufacturing is also on the rise with a 20 percent increase. But it's health care with 862,890 jobs postings last month that is by far the most dominant job creator.
CBS Evening News video: Loan modification programs ‘floundering,’ failing to prevent foreclosures
Avoid Late-Night Infomercial Scams
I’m usually awake late at night, and I’ve occasionally helped myself shut out distracting noise late at night by keeping the television audio on at a low volume. Invariably, the late night programming is centered around show-length commercials for a variety of products. Kitchen devices seem to be some of the most popular products sold late at night, but I’ll occasionally subject my fading consciousness to annoying money-making products. There are big promises, like making thousands of dollars in days or retiring a millionaire in just a few years.
Invariably, the commercials feature testimonials from people who have participated in the program, and show these participants surrounded by all the expected trappings of luxury, hoping to take advantage of the typical greed of the American consumer.
One of these companies has been sued by the Federal Trade Commission for making misleading claims about the amount of money one could be expected to earn by using their products. But wait; there’s more. The feds are also going after one of the company’s customers who appears in the commercial, a woman who lied about how much money she made participating in the program. This is the first time a testimonial has been targeted in an FTC suit.
Most of the money people earn with the product and company targeted in this suit — Russell Dalbey’s “Winning in the Cash Flow Business” — made money not by the techniques taught in the program but by selling the program to other customers. This is a typical multi-level marketing scheme, where the bulk of the income comes from the process, not the product. The product is irrelevant; the customers are the salespeople, and the product could be switched with any other product and the business plan wouldn’t change.
Regardless of the business plan, the FTC is only concerned with the misleading claims of profiting in minutes, without explaining that customers need to keep paying the company for marketing materials — products that allow customers to become salespeople and continue spreading the product while sending income up the side of the pyramid.
Products like this aren’t limited to late-night infomercials. Whenever you consider buying an “information product” from an online site, ask yourself a few questions:
Wise To Prioritize Credit Cards Over Mortgage Payments?
The U.S. Census Bureau expects 188 million active credit card holders this year. Credit reporting agency Transunion says there is a growing number of Americans who are paying their mortgages late so they can pay their credit card bills on time. Host Michel Martin and personal finance expert Alvin Hall discuss whether or not logic exists behind this balancing act. They also review other important news in the credit world.
6 Credit Report Items that Scare Lenders
Your credit history can reveal risk not necessarily reflected by your credit score.
8 Signs You’re Flirting with Financial Ruin
Are you marching toward a debt disaster? Look for these telltale signs that you need help.
The Telephone Consumer Protect Act
The Telephone Consumer Protection Act Now Affords Protection for Consumers Receiving "Robo" or Auto Dialer Debt ...
Debt collector contact via cell phone and without express consent, is a violation of The Telephone Consumer Protection Act, the same law that offers protection against telemarketing calls, according to national consumer law firm Weisberg & Meyers, LLC.
Do You Know What a Collection Agency Does?
Collection agencies want the work farmed out to them while debt buyers want the banks to sell them the debt. The laws governing the two are also different. The Fair Debt Collection Practices Act (FDCPA) governs the behavior of collection agencies, ...
Consumer Bankruptcies Get Bad Rap, Do More Good Than Harm
Forbes (blog)
As far as Dunn's statements about protections against harassment offered by the Fair Debt Collection Practices Act, these limitations on creditor conduct only apply to collection agents, but not to the actual creditor, says Illinois contributor Andy ...
Don't Let Debt Collector Bulldoze You
Fox Business
More than likely, this debt is so old that even if it is yours it has dropped off your credit report. The Fair Debt Collection Practices Act, or FDCPA, can be your ally. It states that if someone disputes an alleged debt in writing, the collector must ...
62 Money-Saving Tips to Help Survive Another Recession
The Financial Mistakes Newlyweds Make
Not talking about money, mishandling debt and not keeping both partners in the financial loop are a few of the mistakes couples make. But a little preparation and some education can help couples avoid these pitfalls.
Couples & Money: How Financial Views Affect Relationships
According to marriage counselors, many divorces are caused by financial disagreements between the husband and the wife. You would think that opposing traits on handling money would cause the most problems. For instance, it can be a huge strain on a marriage when one spouse has a spending addiction or may have security or control [...]
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
An array of new financial applications have been launched for the Apple iPad by such industry leaders as E-Trade, Merrill Lynch, TD Ameritrade, Bank of America and Chase. A new study by Corporate Insight, a research firm that provides financial companies with data on the customer experience, reviews and assesses the array of new mobile finance service apps.
How to Make Saving Fun
Keep track…budget…cut back…eliminate…go without…
5 Reasons Why Banks Hate Elizabeth Warren
Elizabeth Warren, it’s not you they hate. It’s what you represent. You want to be an honest cop when so many before you in Washington have looked the other way and pretended that the banking industry could police itself.
Economy Makes People Sick, Literally
In 2009, the stress caused by the recession sent Katie Pfledderer to the hospital.
Should College Students Have a Credit Card?
The decisions that student credit users make in their early years can impact their financial lives down the road. For many students, credit cards are a part of life, but they should be used responsibly. Here’s what the experts had to say about using plastic during college.
10 Ways to Beat the Blues in a Long Job Hunt
It's hard to stay upbeat when you've been pounding the pavement for months on end. Here are a few tips on how to stay in the game.
Turn Your Kids into Millionaires
Are you worried about the trillions of dollars of federal debt we’re leaving to the next generation? Don’t feel guilty, do something. You can start your kids now on a path to financial independence. Here are ten recipes for doing just that.
10 Industries With The Most Job Postings: Indeed.com
In this relatively jobless economic recovery, it can often feel like no one is hiring. But some industries are, in fact, looking to expand their workforce.
According to job search aggregator indeed.com's tracking of industry employment trends, 11 industries posted more job listings in May than during the previous month. Indeed.com watches job postings across 13 industries, such as health care, media and retail, using over 10,000 job sources worldwide, including listings from private companies and websites like CareerBuilder.com.
With a quarterly increase of 33 percent, the transportation industry has the fastest-growing demand for workers, and manufacturing is also on the rise with a 20 percent increase. But it's health care with 862,890 jobs postings last month that is by far the most dominant job creator.
CBS Evening News video: Loan modification programs ‘floundering,’ failing to prevent foreclosures
Avoid Late-Night Infomercial Scams
I’m usually awake late at night, and I’ve occasionally helped myself shut out distracting noise late at night by keeping the television audio on at a low volume. Invariably, the late night programming is centered around show-length commercials for a variety of products. Kitchen devices seem to be some of the most popular products sold late at night, but I’ll occasionally subject my fading consciousness to annoying money-making products. There are big promises, like making thousands of dollars in days or retiring a millionaire in just a few years.
Invariably, the commercials feature testimonials from people who have participated in the program, and show these participants surrounded by all the expected trappings of luxury, hoping to take advantage of the typical greed of the American consumer.
One of these companies has been sued by the Federal Trade Commission for making misleading claims about the amount of money one could be expected to earn by using their products. But wait; there’s more. The feds are also going after one of the company’s customers who appears in the commercial, a woman who lied about how much money she made participating in the program. This is the first time a testimonial has been targeted in an FTC suit.
Most of the money people earn with the product and company targeted in this suit — Russell Dalbey’s “Winning in the Cash Flow Business” — made money not by the techniques taught in the program but by selling the program to other customers. This is a typical multi-level marketing scheme, where the bulk of the income comes from the process, not the product. The product is irrelevant; the customers are the salespeople, and the product could be switched with any other product and the business plan wouldn’t change.
Regardless of the business plan, the FTC is only concerned with the misleading claims of profiting in minutes, without explaining that customers need to keep paying the company for marketing materials — products that allow customers to become salespeople and continue spreading the product while sending income up the side of the pyramid.
Products like this aren’t limited to late-night infomercials. Whenever you consider buying an “information product” from an online site, ask yourself a few questions:
- Is the information not available elsewhere for free?
- Are you being asked to make money for yourself and for the company by becoming a salesperson rather than just a customer?
- Are the company’s profits based on affiliate or downline sales?
- Do the customers’ testimonials sound too good to be true?
- What are the hidden costs, like products you’ll need to buy?
- Do you have to continue to “upgrade” in order to receive all the promised benefits?
Wise To Prioritize Credit Cards Over Mortgage Payments?
The U.S. Census Bureau expects 188 million active credit card holders this year. Credit reporting agency Transunion says there is a growing number of Americans who are paying their mortgages late so they can pay their credit card bills on time. Host Michel Martin and personal finance expert Alvin Hall discuss whether or not logic exists behind this balancing act. They also review other important news in the credit world.
6 Credit Report Items that Scare Lenders
Your credit history can reveal risk not necessarily reflected by your credit score.
8 Signs You’re Flirting with Financial Ruin
Are you marching toward a debt disaster? Look for these telltale signs that you need help.
The Telephone Consumer Protect Act
The Telephone Consumer Protection Act Now Affords Protection for Consumers Receiving "Robo" or Auto Dialer Debt ...
Debt collector contact via cell phone and without express consent, is a violation of The Telephone Consumer Protection Act, the same law that offers protection against telemarketing calls, according to national consumer law firm Weisberg & Meyers, LLC.
Do You Know What a Collection Agency Does?
Collection agencies want the work farmed out to them while debt buyers want the banks to sell them the debt. The laws governing the two are also different. The Fair Debt Collection Practices Act (FDCPA) governs the behavior of collection agencies, ...
Consumer Bankruptcies Get Bad Rap, Do More Good Than Harm
Forbes (blog)
As far as Dunn's statements about protections against harassment offered by the Fair Debt Collection Practices Act, these limitations on creditor conduct only apply to collection agents, but not to the actual creditor, says Illinois contributor Andy ...
Don't Let Debt Collector Bulldoze You
Fox Business
More than likely, this debt is so old that even if it is yours it has dropped off your credit report. The Fair Debt Collection Practices Act, or FDCPA, can be your ally. It states that if someone disputes an alleged debt in writing, the collector must ...
62 Money-Saving Tips to Help Survive Another Recession
The Financial Mistakes Newlyweds Make
Not talking about money, mishandling debt and not keeping both partners in the financial loop are a few of the mistakes couples make. But a little preparation and some education can help couples avoid these pitfalls.
Couples & Money: How Financial Views Affect Relationships
According to marriage counselors, many divorces are caused by financial disagreements between the husband and the wife. You would think that opposing traits on handling money would cause the most problems. For instance, it can be a huge strain on a marriage when one spouse has a spending addiction or may have security or control [...]
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
NY Times: Big Banks Penalized for Performance in Mortgage Modification Program
June 10, 2011
If your requests for a mortgage modification have not been successful, you are not alone.
Many homeowners have reached out to their mortgage companies and mortgage servicers, requesting a mortgage modification. In response to their inquiries, homeowners are typically instructed to complete a rather simple set of documents, include bank statements, paystubs, tax returns and a hardship letter to the mortgage modification department for review.
Typically, homeowners are told that they are denied HAMP or any other mortgage modification program currently available, for various reasons including missing documents, income which is either too high or too low, or one of many other assorted excuses that frustrate homeowners at all levels.
If you are one of these homeowners, you are not alone. In fact, on Thursday, June 9, 2011, the Treasury Department penalized three of the country’s largest banks - Bank of America, JPMorgan Chase, and Wells Fargo, for their inadequate participation in the Home Affordable Modification Program, or HAMP.
Click here to read the entire story.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Many homeowners have reached out to their mortgage companies and mortgage servicers, requesting a mortgage modification. In response to their inquiries, homeowners are typically instructed to complete a rather simple set of documents, include bank statements, paystubs, tax returns and a hardship letter to the mortgage modification department for review.
Typically, homeowners are told that they are denied HAMP or any other mortgage modification program currently available, for various reasons including missing documents, income which is either too high or too low, or one of many other assorted excuses that frustrate homeowners at all levels.
If you are one of these homeowners, you are not alone. In fact, on Thursday, June 9, 2011, the Treasury Department penalized three of the country’s largest banks - Bank of America, JPMorgan Chase, and Wells Fargo, for their inadequate participation in the Home Affordable Modification Program, or HAMP.
Click here to read the entire story.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
'Sesame Street' Teaches How to Get to Sunnier Days Financially
June 07, 2011
‘Sesame Street’ has done a great job of teaching two generations about reading, counting, manners, and other fundamental life lessons.
‘Sesame Street’ now takes on financial literacy. How awesome?!
The characters of ‘Sesame Street’ have a lot of work ahead of them - teaching our society about minimizing debt, saving money and living frugally.
Check out this video to see more about this story.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
‘Sesame Street’ now takes on financial literacy. How awesome?!
The characters of ‘Sesame Street’ have a lot of work ahead of them - teaching our society about minimizing debt, saving money and living frugally.
Check out this video to see more about this story.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
WSJ: Second Mtg Misery: Over 40% Who Borrowed Against Homes Are Underwater
June 07, 2011
Perhaps a few years ago you had equity in your home, you were interested in taking on a renovation project, consolidating other high interest loans, or wanted to splurge on a vacation.
Millions of people took out home equity loans for any of these reasons along with many others, like starting up a new business, lending money to relatives, or even investing it in the stock market. Mortgage brokers offered generous lines of credit, reminding you that the interest would be a tax deduction.
“Treat your house like a bank!”
Well, millions of us did exactly that.
According to this June 7, 2011 article in the Wall Street Journal, almost 40% of homeowners who took out second mortgages are underwater on their loans...more than TWICE the rate of owners who did not take out such loans.
Ouch!
Today, with overwhelming credit card debt, auto loans, student loans, high unemployment, increasing property taxes, increasing medical bills due to either loss of insurance coverage or simply increased costs by medical care providers - have all added to the pressure that most homeowners face in today’s economy.
I often meet clients who have second mortgages that are underwater. As a matter of fact, if your home’s current value is less than your first mortgage, then Chapter 13 bankruptcy can help you eliminate your second mortgage entirely.
I have done this successfully for several clients.
By eliminating credit card debt, medical debt, and a second mortgage, families are able to “make ends meet” even with a lower household income.
This allows families to pay their remaining mortgage, utilities, property taxes and other living expenses on their current lower income scale, while still looking for creative ways to increase the household income.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Millions of people took out home equity loans for any of these reasons along with many others, like starting up a new business, lending money to relatives, or even investing it in the stock market. Mortgage brokers offered generous lines of credit, reminding you that the interest would be a tax deduction.
“Treat your house like a bank!”
Well, millions of us did exactly that.
According to this June 7, 2011 article in the Wall Street Journal, almost 40% of homeowners who took out second mortgages are underwater on their loans...more than TWICE the rate of owners who did not take out such loans.
Ouch!
Today, with overwhelming credit card debt, auto loans, student loans, high unemployment, increasing property taxes, increasing medical bills due to either loss of insurance coverage or simply increased costs by medical care providers - have all added to the pressure that most homeowners face in today’s economy.
I often meet clients who have second mortgages that are underwater. As a matter of fact, if your home’s current value is less than your first mortgage, then Chapter 13 bankruptcy can help you eliminate your second mortgage entirely.
I have done this successfully for several clients.
By eliminating credit card debt, medical debt, and a second mortgage, families are able to “make ends meet” even with a lower household income.
This allows families to pay their remaining mortgage, utilities, property taxes and other living expenses on their current lower income scale, while still looking for creative ways to increase the household income.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Just In Case You Thought You Were Alone, Struggling To Stay Afloat..
June 06, 2011
A recent report from NBC News and recent article from the New York Times on the economy points to increasing rates for unemployment, the housing market situation in the country and the fact that more families fall deeper into debt with each passing day.
At the same time, homeowners who are not even in foreclosure are losing billions of dollars in home equity from the continuing decline of housing prices in their local neighborhoods.
The continuing slide of the housing market is causing otherwise stable mortgages to become underwater, as the fair market value for homes falls below the current balance on the mortgages.
You are not alone.
However, you should not simply throw your hands up in the air in despair and give up.
You can take steps to lower your debt, address your credit card bills and other outstanding loans, obtain a mortgage modification and stop your foreclosure while you continue looking for ways to increase your household income.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
At the same time, homeowners who are not even in foreclosure are losing billions of dollars in home equity from the continuing decline of housing prices in their local neighborhoods.
The continuing slide of the housing market is causing otherwise stable mortgages to become underwater, as the fair market value for homes falls below the current balance on the mortgages.
You are not alone.
However, you should not simply throw your hands up in the air in despair and give up.
You can take steps to lower your debt, address your credit card bills and other outstanding loans, obtain a mortgage modification and stop your foreclosure while you continue looking for ways to increase your household income.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
What The Credit Card Companies Don't Want You To Know
June 05, 2011
Many people feel that credit cards are a status symbol. They are a necessary part of adult life.
Most people actually believe that they cannot build a credit history without credit cards.
I can’t even begin to tell you how many clients try explaining to me that they cannot succeed in business without using credit cards.
Wow. Have we all really become that gullible?
Have we all truly bought into the premise that American Express and Discover are the critical tools that we need in order to succeed?
Did you know that credit reports show your payment history with your creditors, of whom credit cards are just a fraction? You really do have other creditors such as your utility company, your landlord, your mortgage company, auto loan company, cellphone company and cable company. If you fall behind on any payments to those creditors, you can be certain that they will report your delinquency to the credit reporting agencies.
Do you truly believe that you cannot succeed in business unless you use a piece of plastic which encourages you to take on more debt than you can handle?
David Bach is the author of several outstanding books including "The Automatic Millionaire," "Start Late Finish Rich," and "Start Over, Finish Rich."
In "Fight for Your Money," David tackles many familiar and painful subjects including:
In this clip, David explains some of the tactics used by the credit card companies to put you far deeper in debt!
Watch this clip, then borrow this book from your local library.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Most people actually believe that they cannot build a credit history without credit cards.
I can’t even begin to tell you how many clients try explaining to me that they cannot succeed in business without using credit cards.
Wow. Have we all really become that gullible?
Have we all truly bought into the premise that American Express and Discover are the critical tools that we need in order to succeed?
Did you know that credit reports show your payment history with your creditors, of whom credit cards are just a fraction? You really do have other creditors such as your utility company, your landlord, your mortgage company, auto loan company, cellphone company and cable company. If you fall behind on any payments to those creditors, you can be certain that they will report your delinquency to the credit reporting agencies.
Do you truly believe that you cannot succeed in business unless you use a piece of plastic which encourages you to take on more debt than you can handle?
David Bach is the author of several outstanding books including "The Automatic Millionaire," "Start Late Finish Rich," and "Start Over, Finish Rich."
In "Fight for Your Money," David tackles many familiar and painful subjects including:
- cell phone contracts,
- cable bills,
- car purchases,
- credit cards,
- life insurance,
- healthcare,
- 401(k) plans,
- airfares,
- hotels and much more.
In this clip, David explains some of the tactics used by the credit card companies to put you far deeper in debt!
Watch this clip, then borrow this book from your local library.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
FDIC: Save Your Home - Mortgage Modification Programs Are Available
June 05, 2011
From the FDIC:
Stop living in fear of losing your home
If you are having financial difficulties - due to a job loss, a higher mortgage payment, or any other reason - you are not alone. The economic crisis has made it hard for many responsible homeowners to make ends meet. The good news is that many people who were finding it difficult to make their mortgage payment have been able to save their home, and you can too. You could lose your home if you ignore the problem and do nothing. Get in touch with a counselor and your servicer (the company to whom you send your monthly mortgage payment) today.
Your Servicer Wants to Help
Your servicer wants to help you keep your home. Many servicers implemented new loan modification programs in 2009 to assist homeowners experiencing financial difficulties by lowering their monthly mortgage payments. Plus, many servicers are participating in the government’s Making Home Affordable Program and are working with non-profit counseling agencies through HOPE NOW.
Contact Your Servicer Today
Many servicers have recently added new mortgage modification programs for home loans. Call your servicer even if your request has been turned down before, as you might qualify under a new program. Be patient and persistent if you don’t reach your servicer on the first try, as other homeowners are seeking help as well. If you don’t know who services your loan or how to contact them, check your mortgage statement or look on-line at http://HopeNOW.com/index.php.
Apply for a Loan Modification
In a mortgage loan modification, you and your servicer agree to permanently change one or more of the mortgage’s terms to make the payments more manageable for you. The changes could include reducing the interest rate, extending the term of the loan, forbear-ing (interest free) or forgiving principal, or a combination of these factors.
Download this FREE brochure containing more information, from the FDIC.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Stop living in fear of losing your home
If you are having financial difficulties - due to a job loss, a higher mortgage payment, or any other reason - you are not alone. The economic crisis has made it hard for many responsible homeowners to make ends meet. The good news is that many people who were finding it difficult to make their mortgage payment have been able to save their home, and you can too. You could lose your home if you ignore the problem and do nothing. Get in touch with a counselor and your servicer (the company to whom you send your monthly mortgage payment) today.
Your Servicer Wants to Help
Your servicer wants to help you keep your home. Many servicers implemented new loan modification programs in 2009 to assist homeowners experiencing financial difficulties by lowering their monthly mortgage payments. Plus, many servicers are participating in the government’s Making Home Affordable Program and are working with non-profit counseling agencies through HOPE NOW.
Contact Your Servicer Today
Many servicers have recently added new mortgage modification programs for home loans. Call your servicer even if your request has been turned down before, as you might qualify under a new program. Be patient and persistent if you don’t reach your servicer on the first try, as other homeowners are seeking help as well. If you don’t know who services your loan or how to contact them, check your mortgage statement or look on-line at http://HopeNOW.com/index.php.
Apply for a Loan Modification
In a mortgage loan modification, you and your servicer agree to permanently change one or more of the mortgage’s terms to make the payments more manageable for you. The changes could include reducing the interest rate, extending the term of the loan, forbear-ing (interest free) or forgiving principal, or a combination of these factors.
Download this FREE brochure containing more information, from the FDIC.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Florida Homeowners Foreclose on Bank of America After Wrongful Foreclosure!
June 04, 2011
I love this story.
Homeowner, Maurenn Nyergers and her husband purchased their home in Collier County, Florida for cash.
They were a bit surprised when Bank of America suddenly sued them in foreclosure, demanding payment for a mortgage which never existed.
They hired a local foreclosure defense attorney, Todd Allen, who turned around and sued Bank of America.
The homeowners won.
The homeowners did exactly what Bank of America would have done. They coordinated having the Sheriff’s Deputies come to a local Bank of America branch, in order to seize assets belonging to Bank of America.
You can watch a video of the entire story here.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Homeowner, Maurenn Nyergers and her husband purchased their home in Collier County, Florida for cash.
They were a bit surprised when Bank of America suddenly sued them in foreclosure, demanding payment for a mortgage which never existed.
They hired a local foreclosure defense attorney, Todd Allen, who turned around and sued Bank of America.
The homeowners won.
The homeowners did exactly what Bank of America would have done. They coordinated having the Sheriff’s Deputies come to a local Bank of America branch, in order to seize assets belonging to Bank of America.
You can watch a video of the entire story here.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Office of Comptroller of the Currency signs Cease and Desist Order with MERS Corp
June 04, 2011
The Office of the Comptroller of the Currency has just signed a Cease and Desist settlement agreement with MERS Corp (Mortgage Electronic Registration Systems). Among other things, the Cease and Desist order finds, “We have identified certain deficiencies and unsafe or unsound practices by MERS and MERSCORP that present financial, operational, compliance, legal and reputational risks to MERSCORP and MERS, and to the participating Members.” (OCC No. AA-EC-11-20; Board of Governors; Docket Nos. 11-051-B-SC-1,11-051-B-SC-2; FDIC-11-194bOTS No. 11-040; FHFA No. EAP-11-01)
Noted attorney Philip Kramer, a senior partner at the law firm of Kramer & Kaslow provides insight, “MERS Corp is the owner of Mortgage Electronic Registration Systems (MERS), one of the cornerstones of the current banking crisis. In order to cut up loans and move the pieces around the world at the speed of electronics again and again and again, until no one is sure who owns what, financial institutions have been using MERS as the “beneficiary”, a legal term which in practical terms means they are entitled to foreclose on behalf of the lender – except MERS is nothing more than an electronic database. They are often named as beneficiary. However in order to legally be named as beneficiary they would have had to put up funds on the loan. Not to mention the fact that the recordation itself is not even official. BUT most importantly, MERS is never a Holder in Due Course.”
Philip Kramer goes on to observe that, “We’re a nation of laws. Everyone knew that MERS didn’t have the right to appear as a beneficiary, but it would have been inconvenient to act on this because MERS was in widespread use throughout the banking industry. It was wrong, wrong, wrong, but everyone was doing it. Just like they were doing ‘no-doc’ loans and other sleights of hand. Just like the banks were doing so many bad things to homeowners. All they wanted to do was increase their profits – no matter who it hurt or how wrong their practices might be.”
The full text of the consent decree can be found here.
ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior partner of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell “AV” rated. Mr. Kramer is a perennial recipient of the prestigious “Southern California Super Lawyer” award.
Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and real property matters. He has prosecuted and defended cases for over twenty five years.
Mr. Kramer is a licensed real estate broker and has spent considerable time providing legal services in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, construction and development, finance, and landlord tenant matters.
Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 cases. He has appeared on nationally televised programs regarding pre-trial procedure and trial strategy and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of various legal and business issues.
Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.
Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in many companies. For more information call (818) 224-3900 or visit http://kramer-kaslow.com.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/6/prweb8516042.htm
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Noted attorney Philip Kramer, a senior partner at the law firm of Kramer & Kaslow provides insight, “MERS Corp is the owner of Mortgage Electronic Registration Systems (MERS), one of the cornerstones of the current banking crisis. In order to cut up loans and move the pieces around the world at the speed of electronics again and again and again, until no one is sure who owns what, financial institutions have been using MERS as the “beneficiary”, a legal term which in practical terms means they are entitled to foreclose on behalf of the lender – except MERS is nothing more than an electronic database. They are often named as beneficiary. However in order to legally be named as beneficiary they would have had to put up funds on the loan. Not to mention the fact that the recordation itself is not even official. BUT most importantly, MERS is never a Holder in Due Course.”
Philip Kramer goes on to observe that, “We’re a nation of laws. Everyone knew that MERS didn’t have the right to appear as a beneficiary, but it would have been inconvenient to act on this because MERS was in widespread use throughout the banking industry. It was wrong, wrong, wrong, but everyone was doing it. Just like they were doing ‘no-doc’ loans and other sleights of hand. Just like the banks were doing so many bad things to homeowners. All they wanted to do was increase their profits – no matter who it hurt or how wrong their practices might be.”
The full text of the consent decree can be found here.
ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior partner of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell “AV” rated. Mr. Kramer is a perennial recipient of the prestigious “Southern California Super Lawyer” award.
Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and real property matters. He has prosecuted and defended cases for over twenty five years.
Mr. Kramer is a licensed real estate broker and has spent considerable time providing legal services in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, construction and development, finance, and landlord tenant matters.
Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 cases. He has appeared on nationally televised programs regarding pre-trial procedure and trial strategy and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of various legal and business issues.
Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.
Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in many companies. For more information call (818) 224-3900 or visit http://kramer-kaslow.com.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/6/prweb8516042.htm
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Court Ruling Gives Hope to Homeowners Facing Foreclosure
June 04, 2011
Is your home in foreclosure and you’re struggling in trying to figure out what to do?
Was the foreclosure lawsuit initiated by MERS?
If so, you might be interested in reading this article, which explains how a family in Michigan fought back, arguing that the lawsuit was completely invalid because it was brought by MERS.
The family won.
MERS is a company used by lenders to streamline the packaging and selling of mortgages. Although MERS has started many foreclosure proceedings against homeowners, MERS typically does not own the mortgage in order to have the legal standing to sue on behalf of the true owner of your mortgage.
If you are currently in foreclosure, you must speak with an attorney who is experienced in this field. Don’t wait until the Sheriff’s Sale. Don’t wait until you have just a few days to evacuate the premises. By then, your options will be limited.
Take action today. Save your home.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Was the foreclosure lawsuit initiated by MERS?
If so, you might be interested in reading this article, which explains how a family in Michigan fought back, arguing that the lawsuit was completely invalid because it was brought by MERS.
The family won.
MERS is a company used by lenders to streamline the packaging and selling of mortgages. Although MERS has started many foreclosure proceedings against homeowners, MERS typically does not own the mortgage in order to have the legal standing to sue on behalf of the true owner of your mortgage.
If you are currently in foreclosure, you must speak with an attorney who is experienced in this field. Don’t wait until the Sheriff’s Sale. Don’t wait until you have just a few days to evacuate the premises. By then, your options will be limited.
Take action today. Save your home.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com or call 201-478-7412.
Fortune/CNN Reports: Examination of BofA's Mtg Docs Raises More Questions - Are BofA's Foreclosures Legal?!
June 03, 2011
According to this report, Fortune explored some of the documents relied upon by Bank of America in foreclosure lawsuits around the country.
Of course, Bank of America claims that their documents are solid, thereby giving them the right to foreclose on homeowners who haven’t been able to make mortgage payments over an extended period of time.
However, after deeper examination of the documents in question, Fortune magazine reports that the validity behind arguments made by Bank of America raise even more questions regarding their legal standing to sue in many foreclosure lawsuits.
Fortune’s investigation corroborated the testimony of a former Countrywide employee who testified in court that many loans handled by Countrywide (and later purchased by Bank of America) were not properly handled, raising many questions regarding the validity of Countrywide’s securitization process.
If Countrywide’s handling of the mortgage was invalid, then Bank of America could have purchased questionable mortgages, which are difficult to enforce when Bank of America sues homeowners in foreclosure lawsuits throughout the country.
Click here to read the entire article in Fortune.
If you think this situation might apply to you, speak with an experienced foreclosure defense attorney.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Of course, Bank of America claims that their documents are solid, thereby giving them the right to foreclose on homeowners who haven’t been able to make mortgage payments over an extended period of time.
However, after deeper examination of the documents in question, Fortune magazine reports that the validity behind arguments made by Bank of America raise even more questions regarding their legal standing to sue in many foreclosure lawsuits.
Fortune’s investigation corroborated the testimony of a former Countrywide employee who testified in court that many loans handled by Countrywide (and later purchased by Bank of America) were not properly handled, raising many questions regarding the validity of Countrywide’s securitization process.
If Countrywide’s handling of the mortgage was invalid, then Bank of America could have purchased questionable mortgages, which are difficult to enforce when Bank of America sues homeowners in foreclosure lawsuits throughout the country.
Click here to read the entire article in Fortune.
If you think this situation might apply to you, speak with an experienced foreclosure defense attorney.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
WSJ Reports: Homeowners in foreclosure are successfully arguing "SHOW ME THE PAPERS!"
June 02, 2011
Yesterday’s Wall Street Journal reports that homeowners who are in foreclosure have successfully argued “Show Me The Papers” requiring lenders to prove that they are the proper lender to be suing the homeowner.
Mortgage companies are struggling to come up with the necessary paperwork and judges across the country are starting to realize that there is significant legitimacy to these arguments, where mortgage companies are either unable to produce proper paperwork, or they submit forged documentation, attempting to evict homeowners from their homes.
Click here to read the full article and listen to an audio segment regarding this story.
If you are in foreclosure, doing nothing is the worst thing you can do.
Pick up the phone and call a foreclosure defense attorney. It could be the most important call you make in order to save your home.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Mortgage companies are struggling to come up with the necessary paperwork and judges across the country are starting to realize that there is significant legitimacy to these arguments, where mortgage companies are either unable to produce proper paperwork, or they submit forged documentation, attempting to evict homeowners from their homes.
Click here to read the full article and listen to an audio segment regarding this story.
If you are in foreclosure, doing nothing is the worst thing you can do.
Pick up the phone and call a foreclosure defense attorney. It could be the most important call you make in order to save your home.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Q&A: My mortgage is upside down, my lender won't change my mortgage from an adjustible to a fixed rate. Soon I won't be able to afford to pay. What are my options?
June 01, 2011
Answer: This an incredibly common situation. You've reached out to your lender, explaining that money is tight and proactively trying to do the "right thing." However, although you've submitted all of the paperwork they requested, you find yourself in the same situation and inevitably, you will no longer be able to make the monthly mortgage payment.
What should you do?
For starters, I would like you to know that you've been doing the RIGHT thing. It's not your fault that they haven't provided you with a mortgage modification. You hear about HAMP and many other mortgage modifications in the news and on the radio and wonder "What about me?!" Talking to your lender is definitely the most appropriate first line of defense.
You have several options that are worth exploring.
1. Speak with a FREE, HUD approved housing counselor. Contact information about finding a free housing counselor is available here.
2. Learn more about the New Jersey Home Ownership Preservation Effort.
3. Explore the resources available through HOPE Now, the NJ Home Keeper Program,
4. Speak with an experienced bankruptcy attorney to learn if you might qualify for stripping your second mortgage in Chapter 13 bankruptcy.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
What should you do?
For starters, I would like you to know that you've been doing the RIGHT thing. It's not your fault that they haven't provided you with a mortgage modification. You hear about HAMP and many other mortgage modifications in the news and on the radio and wonder "What about me?!" Talking to your lender is definitely the most appropriate first line of defense.
You have several options that are worth exploring.
1. Speak with a FREE, HUD approved housing counselor. Contact information about finding a free housing counselor is available here.
2. Learn more about the New Jersey Home Ownership Preservation Effort.
3. Explore the resources available through HOPE Now, the NJ Home Keeper Program,
4. Speak with an experienced bankruptcy attorney to learn if you might qualify for stripping your second mortgage in Chapter 13 bankruptcy.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Recent Articles on Managing Debt and Living Frugally
June 01, 2011
Below are some highlights of recent articles I’ve come across on the web, focused on debt management and living a frugal lifestyle.
Don’t You Dare Pay for These 3 Credit Services – They’re Already Free
...about how credit cards make their way to your wallet. You can review it here if you like. It occurred to me that I didn’t do a good enough job of explaining the process of having your name removed from the mailing lists sold by the credit bureaus. I just linked you to the site where you could “opt out” of credit offers in the comments section...
7 Business Ideas to Start During College
...of college credit card debt. If you can tutor them them in these areas, do so…for a fee. I personally never tutored since I didn’t have the patience for it, but one of my college roommates made $15 an hour giving voice lessons to fellow music majors! College Business Idea #2 – Become a Dot Com Mogul You can start a couple of dot com businesses ...
Received Pre-Approved Credit Card? Do You Really Want It?
...Approved Credit Card Letter. Dear Mr. _______: “Your good standing has been found creditworthy by _______ Visa and that qualifies you for a new Visa credit [...]
Best Money Tips: Turn Old Movies and Games into Cash
...For Smart Credit Card Use — Be smart when using your credit card by paying your balance off in full each month. [Matt About Money] 9 Secret Ways to Persuade and Influence People — Have more success persuading and influencing people by catching them when they are mentally fatigued. [Dumb Little Man] Other Essential Reading Ways Kids Can Assist To...
Credit Card Defaults and Unemployment Rates on the Rise Again
...months of credit card defaults and unemployment rates decreasing, the latest S&P/Experian credit indices and the U.S. Bureau of Labor Statistics data show that April 2011 is a whole different story. Data released through the month shows an increase in the number of Americans who defaulted on credit cards [...]
The 5 Biggest Money Mistakes You Can Easily Avoid
...checking your credit report It’s free. It’s easy. It doesn’t require a credit card or any payment at all. It’s annualcreditreport.com You pay taxes. Take advantage of this government provided service to check your credit report. Make sure little Johnny Js. hasn’t been opening credit card accounts in your name. 5. Keeping your savings at your loc...
Credit Card Cash Advances: Blessing or Curse?
...on a credit card. Before you use one of those little convenience checks that come in the mail or run to the ATM to withdraw money, make sure you understand how taking cash advances on credit cards works.
Avoid These Big Money Wasters
...on your credit card can reduce your credit score. Gourmet coffee. I’m not a coffee drinker, but I can understand why people pay $1,000 a year in order to help wake themselves at a certain time. The obvious resolution would be to save money by switching from the more expensive brands to coffee you brew yourself. This is the basis of David Bach’s ...
New study on credit report accuracy raises eyebrows
...of Credit Reports Are Void of Material Errors! No, that’s not a fictitious headline designed to infuriate you into reading this piece. It’s actually part of the findings of a recently published study on the accuracy of credit reports by an organization called the Policy and Economic Research Council, or “PERC.” In fact, according to their rese...
Fighting Back Against Debt Collectors
Debt collectors are known for hassling consumers, and in their desperation to collect money, some are even resorting to questionable tactics. According to the Federal Trade Commission (FTC), complaints about debt collectors rose by 17% in 2010. This number has tripled since 2002, and accounts for 27% of all FTC complaints. It’s not just a [...] [[...
8 Secrets About Your Debit Card
...Your debit card may look like a credit card, but it's a different animal.
How Long Will Bankruptcy Stay on My Credit Report?
...of your credit record for ten (10) years. The ten years are counted from the date you filed your bankruptcy. This does not mean you can’t get a house, a car, a loan, or a credit card for ten years. In fact you can probably get [...]
How To Avoid Medical Debt
...on additional credit card debt.
Applying the Golden Rule to Tough Personal Finance Situations
...people grabbing credit for themselves and ignoring the contributions of others. Because of that, I saw a lot of hurt feelings and mistrust and I witnessed a lot of relationships broken. I also saw career promotions happen sometimes because of that omission, but I also saw some serious career setbacks because someone didn’t play fair with credi...
The Financial Literacy Toolkit
...online banks Credit and credit cards How to choose a credit card Essential credit card skills An introduction to credit reports and credit scores How and when to cancel a credit card The anatomy of a credit score How to obtain your free credit report Investing The extraordinary power of compound returns What is a Roth IRA and why should you ...
Best Money Tips: Money Lessons From Mom
...bank or credit union. Top 5 Articles Four Lessons My Mom Taught Me about Family and Money — One of the things your mom may have taught you growing up was to spend money on experiences. [Money Ning] 20 Ways To Create Million Dollar Ideas — If you want to create a million dollar idea, try looking for problems, then solving them. [Marc and Angel Ha...
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Don’t You Dare Pay for These 3 Credit Services – They’re Already Free
...about how credit cards make their way to your wallet. You can review it here if you like. It occurred to me that I didn’t do a good enough job of explaining the process of having your name removed from the mailing lists sold by the credit bureaus. I just linked you to the site where you could “opt out” of credit offers in the comments section...
7 Business Ideas to Start During College
...of college credit card debt. If you can tutor them them in these areas, do so…for a fee. I personally never tutored since I didn’t have the patience for it, but one of my college roommates made $15 an hour giving voice lessons to fellow music majors! College Business Idea #2 – Become a Dot Com Mogul You can start a couple of dot com businesses ...
Received Pre-Approved Credit Card? Do You Really Want It?
...Approved Credit Card Letter. Dear Mr. _______: “Your good standing has been found creditworthy by _______ Visa and that qualifies you for a new Visa credit [...]
Best Money Tips: Turn Old Movies and Games into Cash
...For Smart Credit Card Use — Be smart when using your credit card by paying your balance off in full each month. [Matt About Money] 9 Secret Ways to Persuade and Influence People — Have more success persuading and influencing people by catching them when they are mentally fatigued. [Dumb Little Man] Other Essential Reading Ways Kids Can Assist To...
Credit Card Defaults and Unemployment Rates on the Rise Again
...months of credit card defaults and unemployment rates decreasing, the latest S&P/Experian credit indices and the U.S. Bureau of Labor Statistics data show that April 2011 is a whole different story. Data released through the month shows an increase in the number of Americans who defaulted on credit cards [...]
The 5 Biggest Money Mistakes You Can Easily Avoid
...checking your credit report It’s free. It’s easy. It doesn’t require a credit card or any payment at all. It’s annualcreditreport.com You pay taxes. Take advantage of this government provided service to check your credit report. Make sure little Johnny Js. hasn’t been opening credit card accounts in your name. 5. Keeping your savings at your loc...
Credit Card Cash Advances: Blessing or Curse?
...on a credit card. Before you use one of those little convenience checks that come in the mail or run to the ATM to withdraw money, make sure you understand how taking cash advances on credit cards works.
Avoid These Big Money Wasters
...on your credit card can reduce your credit score. Gourmet coffee. I’m not a coffee drinker, but I can understand why people pay $1,000 a year in order to help wake themselves at a certain time. The obvious resolution would be to save money by switching from the more expensive brands to coffee you brew yourself. This is the basis of David Bach’s ...
New study on credit report accuracy raises eyebrows
...of Credit Reports Are Void of Material Errors! No, that’s not a fictitious headline designed to infuriate you into reading this piece. It’s actually part of the findings of a recently published study on the accuracy of credit reports by an organization called the Policy and Economic Research Council, or “PERC.” In fact, according to their rese...
Fighting Back Against Debt Collectors
Debt collectors are known for hassling consumers, and in their desperation to collect money, some are even resorting to questionable tactics. According to the Federal Trade Commission (FTC), complaints about debt collectors rose by 17% in 2010. This number has tripled since 2002, and accounts for 27% of all FTC complaints. It’s not just a [...] [[...
8 Secrets About Your Debit Card
...Your debit card may look like a credit card, but it's a different animal.
How Long Will Bankruptcy Stay on My Credit Report?
...of your credit record for ten (10) years. The ten years are counted from the date you filed your bankruptcy. This does not mean you can’t get a house, a car, a loan, or a credit card for ten years. In fact you can probably get [...]
How To Avoid Medical Debt
...on additional credit card debt.
Applying the Golden Rule to Tough Personal Finance Situations
...people grabbing credit for themselves and ignoring the contributions of others. Because of that, I saw a lot of hurt feelings and mistrust and I witnessed a lot of relationships broken. I also saw career promotions happen sometimes because of that omission, but I also saw some serious career setbacks because someone didn’t play fair with credi...
The Financial Literacy Toolkit
...online banks Credit and credit cards How to choose a credit card Essential credit card skills An introduction to credit reports and credit scores How and when to cancel a credit card The anatomy of a credit score How to obtain your free credit report Investing The extraordinary power of compound returns What is a Roth IRA and why should you ...
Best Money Tips: Money Lessons From Mom
...bank or credit union. Top 5 Articles Four Lessons My Mom Taught Me about Family and Money — One of the things your mom may have taught you growing up was to spend money on experiences. [Money Ning] 20 Ways To Create Million Dollar Ideas — If you want to create a million dollar idea, try looking for problems, then solving them. [Marc and Angel Ha...
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
If Collection Agencies Are Harassing You...
June 01, 2011
If you feel that you are being harassed by debt collectors, collection agencies from your credit cards, outstanding medical bills and late mortgage payments, you need to learn about the consumer protection laws that are available to protect you. The Fair Debt Collection Practices Act specifies what behaviors are prohibited by debt collectors.
For example, a debt collector is prohibited from doing several things:
Collection Fees Prohibited
A debt collector may not charge you an interest, fees, or collection charges, except those amounts that were authorized by the agreement with the creditor to whom the debt is owed.
Harassment Prohibited
A debt collector may not use any language, communication or conduct to harass, oppress, or abuse any person. This includes prohibits on:
• Use threats of violence or harm to the person, property, or reputation.
• Advertise your debt or publish a list of consumers who refuse to pay their debts, except to credit bureaus.
• Use obscene or profane language.
• Repeatedly use the telephone to annoy someone or ring the telephone constantly.
• Call people without identifying themselves.
False Statements Prohibited
A debt collector may not use any false statements when trying to collect a debt. This includes:
• Falsely implying that they are an attorney or government representative.
• Falsely implying that you have committed a crime by not paying a debt.
• Falsely represent that they operate or work for a credit bureau.
• Misrepresent the character, amount, or legal status of the debt.
• Indicate that papers being sent are legal papers when they are not.
• Indicate that papers being sent are not legal papers when they are.
Threats Prohibited
A debt collector may not use threats when trying to collect a debt. This includes threats like the following:
• You will be arrested if you do not pay your debt.
• They will seize, garnish, attach, or sell your property or wages, unless the collection agency or the creditor intends to do so and they have the right to do so.
• Take any actions against you which are illegal.
• Violate any law in an effort to collect a debt.
Deception Prohibited
A debt collector may not use deception when trying to collect a debt. This includes deceptions like the following:
• Send you anything that looks like an official document from a court or government agency when it is not.
• Give false credit information about you to anyone.
• Use a fake or false name, unless that name is allowed by state law and properly registered with the state, if required.
Unfairness Prohibited
A debt collector may not treat you unfairly in attempting to collect a debt. This includes unfairness like the following:
• Collect any amount greater than your debt, unless allowed by law.
• Deposit a post-dated check more than 5 days before the date on the check, without giving you notice of when they intend to deposit it.
• Solicit a post-dated in order threaten criminal prosecution or threaten to cash the check early.
• Make you accept collect calls or pay for telegrams.
• Take or threaten to take your property unless this can be done legally, including wrongfully repossessing your vehicle.
• Contact you by postcard.
Payments on Multiple Debts
A debt collector must apply you payments on multiple debts in the order you direct. A debt collector is prohibited from applying any payments you send in to debts that you believe you do not owe.
Your Rights to Sue
Your Right to Sue a Collector for Violations of the FDCPA
You have the right to sue a debt collector within one year from the date you believe the law was violated. This is what my law firm does. If you do not bring your lawsuit within one year of the violation, your claim will be forever barred by a statute of limitations. If you win your lawsuit, you may recover money for the damage you suffered, statutory damages of up to $1,000 plus court costs and your attorney's fees.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
For example, a debt collector is prohibited from doing several things:
Collection Fees Prohibited
A debt collector may not charge you an interest, fees, or collection charges, except those amounts that were authorized by the agreement with the creditor to whom the debt is owed.
Harassment Prohibited
A debt collector may not use any language, communication or conduct to harass, oppress, or abuse any person. This includes prohibits on:
• Use threats of violence or harm to the person, property, or reputation.
• Advertise your debt or publish a list of consumers who refuse to pay their debts, except to credit bureaus.
• Use obscene or profane language.
• Repeatedly use the telephone to annoy someone or ring the telephone constantly.
• Call people without identifying themselves.
False Statements Prohibited
A debt collector may not use any false statements when trying to collect a debt. This includes:
• Falsely implying that they are an attorney or government representative.
• Falsely implying that you have committed a crime by not paying a debt.
• Falsely represent that they operate or work for a credit bureau.
• Misrepresent the character, amount, or legal status of the debt.
• Indicate that papers being sent are legal papers when they are not.
• Indicate that papers being sent are not legal papers when they are.
Threats Prohibited
A debt collector may not use threats when trying to collect a debt. This includes threats like the following:
• You will be arrested if you do not pay your debt.
• They will seize, garnish, attach, or sell your property or wages, unless the collection agency or the creditor intends to do so and they have the right to do so.
• Take any actions against you which are illegal.
• Violate any law in an effort to collect a debt.
Deception Prohibited
A debt collector may not use deception when trying to collect a debt. This includes deceptions like the following:
• Send you anything that looks like an official document from a court or government agency when it is not.
• Give false credit information about you to anyone.
• Use a fake or false name, unless that name is allowed by state law and properly registered with the state, if required.
Unfairness Prohibited
A debt collector may not treat you unfairly in attempting to collect a debt. This includes unfairness like the following:
• Collect any amount greater than your debt, unless allowed by law.
• Deposit a post-dated check more than 5 days before the date on the check, without giving you notice of when they intend to deposit it.
• Solicit a post-dated in order threaten criminal prosecution or threaten to cash the check early.
• Make you accept collect calls or pay for telegrams.
• Take or threaten to take your property unless this can be done legally, including wrongfully repossessing your vehicle.
• Contact you by postcard.
Payments on Multiple Debts
A debt collector must apply you payments on multiple debts in the order you direct. A debt collector is prohibited from applying any payments you send in to debts that you believe you do not owe.
Your Rights to Sue
Your Right to Sue a Collector for Violations of the FDCPA
You have the right to sue a debt collector within one year from the date you believe the law was violated. This is what my law firm does. If you do not bring your lawsuit within one year of the violation, your claim will be forever barred by a statute of limitations. If you win your lawsuit, you may recover money for the damage you suffered, statutory damages of up to $1,000 plus court costs and your attorney's fees.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Q&A: I just received a Notice of Intent to Foreclose. What should I do?
June 01, 2011
Answer: If you just received a Notice of Intent for Foreclose, and you live in New Jersey, you can expect that approximately 30 days later you will be served with a Summons and Complaint, which will officially start the foreclosure process with the court system.
What should you do at this point? You need to speak with an attorney who is experienced in both foreclosure defense and bankruptcy.
Believe it or not, bankruptcy can HELP YOU KEEP YOUR HOUSE while eliminating your credit card debt, and depending on the current fair market value of your house, bankruptcy could help you eliminate your second mortgage entirely while providing you with a repayment plan in order to make the foreclosure lawsuit disappear altogether. Yes, bankruptcy is often the ideal solution to help homeowners stop the foreclosure lawsuit and get the mortgage modification they desperately seek. Depending on your current household income, bankruptcy will allow you to choose if you want to keep your house and pay back the arrears over the course of 5 years, or surrender the property and walk away from the mortgage altogether.
If foreclosure defense is the most appropriate route for you, then an experienced foreclosure attorney should defend the foreclosure, negotiate with your mortgage company in order to try to obtain a mortgage modification and apply to the New Jersey State Foreclosure Mediation Program.
Being in foreclosure is an incredibly stressful experience for homeowners. The worst thing you can do is to do nothing. Unfortunately, this is what most homeowners do, until they are informed about an upcoming Sheriff’s Sale.
You must take action.
Learn about your options.
Save your home today.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
What should you do at this point? You need to speak with an attorney who is experienced in both foreclosure defense and bankruptcy.
Believe it or not, bankruptcy can HELP YOU KEEP YOUR HOUSE while eliminating your credit card debt, and depending on the current fair market value of your house, bankruptcy could help you eliminate your second mortgage entirely while providing you with a repayment plan in order to make the foreclosure lawsuit disappear altogether. Yes, bankruptcy is often the ideal solution to help homeowners stop the foreclosure lawsuit and get the mortgage modification they desperately seek. Depending on your current household income, bankruptcy will allow you to choose if you want to keep your house and pay back the arrears over the course of 5 years, or surrender the property and walk away from the mortgage altogether.
If foreclosure defense is the most appropriate route for you, then an experienced foreclosure attorney should defend the foreclosure, negotiate with your mortgage company in order to try to obtain a mortgage modification and apply to the New Jersey State Foreclosure Mediation Program.
Being in foreclosure is an incredibly stressful experience for homeowners. The worst thing you can do is to do nothing. Unfortunately, this is what most homeowners do, until they are informed about an upcoming Sheriff’s Sale.
You must take action.
Learn about your options.
Save your home today.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
Q&A: My home has been foreclosed on and I recently received written notification about an upcoming Sheriff's Sale which is scheduled for June 20th. Must I vacate by then?
June 01, 2011
Answer: Although your time in the house is probably quite limited by now, NO, you do not need to vacate by the date of the Sheriff’s Sale. On that date, the Sheriff will auction off your house to the highest bidder. After the sale, the Sheriff’s office will notify you regarding a date of eviction. You will likely have only a few weeks until you are required to vacate the premises.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.
David Giller, Esq. is a Consumer Law attorney, providing professional, confidential and compassionate legal advice throughout New York City and northern New Jersey in financially stressful matters including bankruptcy, foreclosure defense, debt settlement, Fair Debt Collection Practices Act and Fair Credit Reporting Act. To learn more about David or his law practice, visit www.gillerlaw.com.