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Debt counselling, if done right, has the ability to condense your debt and reduce your monthly payments. This makes it easier to pay your monthly mortgage.
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∙ 14y ago
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Who should go through debt counseling?
Those who are in debt should surely go to debt counselling to seek help from a debt advisor. Going to debt counselling will give you a picture and a solution for your debt problem.
Can you get a judgment while being under debt counselling?
Yes. Credit counselling and debt management can help you pay off your debt, but they do not eliminate your obligations your creditors until the debts have been fully paid.
Where can one get help with foreclosure?
One can get help when facing a foreclosure from The Hope Now Alliance, the Federal Treasury and housing departments, and nonprofit counselling agencies.
Where can one obtain credit and debt counselling services?
There are a number of places where one can obtain counselling services for credit and debt depending on the country one is located. In Canada one can get counselling from Credit Canada. One should always make sure that the company that provides the counselling is reputable.
If a house is in a bankruptcy to prevent foreclosure can the lender modify the loan to be more affordable?
Only through the court. The creditors are not allowed to speak with you about these things as it is considered actions to collect a debt, which your filing of BK specifically prohibits them from doing...which is why their foreclosure is delayed.
How can one learn how to reduce debt?
Someone can learn how to reduce debt from a number of websites such as Debt Canada. Debt Canada provides individuals and businesses with debt counselling services.
What are some suggestions of good financial recovery services?
There are many good financial recovery services to choose from including: Credit Counselling Services, Credit Debt and Planning Services and Debt Freedom Counselling Service.
What is caused when a landowner is unable to pay the debt on a property?
Foreclosure
What is caused when a landowner is unable to pay the debt on property?
Foreclosure
Who do I need to talk to about debt counseling?
If you absolutely need debt counselling (e.g. to fulfill the new requirements for bankruptcy), then call a nonprofit Consumer Credit Counselling Service (CCCS). Don't bother with for-profit outfits, as they have bad reputations.
Should you file Bankruptcy when the bank forecloses on your house?
It would seem the time to act is before they foreclose. And BK may delay, but won't prevent the foreclosure...you would still have to pay the debt.
What is the difference between a foreclosure and short sale?
A foreclosure is the surrender of the property to the lien holder for nonpayment of the debt. A short sale is the sale of the property before the completion of the foreclosure in an attempt by the home buyer and the lender to avoid foreclosure proceedings.
