If you're thinking of filing bankruptcy, here are some things you might be tempted to do that might turn out to be a very bad idea.
If you're paying off credit card balances using money you've taken from your retirement account or received from a home equity loan, you're entering dangerous (financial) territory. Let's take a look at this. (more…)
After a foreclosure sale, HELOC, HOA, and credit card (regardless of a foreclosure) debts are generally all unsecured (not secured by a lien on your property). Because of this, these debts can be discharged (eliminated) completely and quickly in a Chapter 7 bankruptcy, which would be the best choice if you qualify for it and if it's otherwise a good thing for you. (more…)
If you lost your home to foreclosure in California, you may still owe your second (and other) mortgages. (more…)