Hoglund Law Blog

Fewer American parents are willing to go into debt to finance their children’s education. According to a report prepared by Sallie Mae, 51% of parents “strongly agreed that they would stretch financially to send their children to college.” This represents a 13% decrease from the 64% of parents who felt the same last year. Approximately [...]

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According to the Mortgage Bankers Association, the number of borrowers who were late on their mortgage payments rose to 12.87% in the second quarter of 2011. Prior to the second quarter of this year, the number of homeowners who were delinquent on their mortgage payments had been decreasing for over a year. The 12.87% refers [...]

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When a person is in financial trouble, one way of dealing with creditors is negotiating a settlement where the debtor pays a lump sum to the creditor. Typically a debtor will offer a small percentage of what is owed to the creditor and the creditor will then accept the settlement and forgive the debtor for [...]

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Student loan debt is causing financial problems for many young Americans. The amount of student loan debt in the United States is over $900 billion. Student loan debt will continue to be a problem for graduates, because many states are reducing financial support for students and schools are increasing tuition. Borrowers cannot default on student [...]

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The federal government is attempting to help turn around the struggling housing market and reduce the number of home foreclosures. The Emergency Homeowners Loan Program will help homeowners who are behind on their mortgage and struggling to make payments. Loans of up to $50,000 will be available to the unemployed. Additionally, the loans do not [...]

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The number of Americans who filed for bankruptcy in January through June of this year decreased from the same period in 2010. According to data from the National Bankruptcy Research Center, 709,303 consumer bankruptcies have been filed in 2011. During the first six months of 2010, 770,117 consumer bankruptcies were filed. The 2011 numbers represent [...]

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Beware of credit repair scams. There are many credit repair companies that are essentially scams. They take your money and they do not improve your credit or they only temporarily improve it. The Federal Trade Commission (FTC) offers this advice for avoiding credit repair scams: Do not work with a company that wants you to [...]

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Princess Diana’s famous dresses are for sale.

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THINGS TO AVOID DOING BEFORE FILING A BANKRUPTCY: Do not pay back any friends or relatives money that you owe them. Do not give away any assets to a friend or a relative. Don not sign over any titles for vehicles to friends or relatives. Do not lend any friends or relatives money. Do not [...]

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Based on information provided by the Administrative Office of the U.S. Courts, the number of bankruptcy filings in the first quarter of 2011 was down 6% from the number of first quarter filings in 2010. Overall, 366,178 bankruptcy cases were filed during January, February, and March of 2011. Over the same period in 2010, 388,148 [...]

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