Author Archives: Megan Quinn

How Medical Debt Impacts Your Financial Future

Medical debt is one of the leading causes of financial distress in the U.S., contributing to over 60% of bankruptcies. Unlike credit card debt and personal loans, it is often the result of an unexpected illness or an emergency. 

If left unresolved, medical debt can significantly impact your financial future in ways you never expected. 

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What to Do If You’re Sued by a Creditor

It’s a notice nobody wants to receive: a notification that you’re being sued by a creditor. It can feel overwhelming, and your first instinct may be to bury your head in the sand. However, you must respond promptly. You still have options and time to respond. 

Here’s what typically happens when you’re sued by a creditor and what you should do next. 

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What Happens After You Miss a Mortgage Payment?

If you miss a mortgage payment, you may fear that your home will be taken away overnight. However, this is not the case in most scenarios. In fact, the state of New York has the longest and most structured foreclosure processes in the country since it is a strict judicial foreclosure state. Lenders have to go through a vigorous process with the court system before taking your home. Here’s a breakdown of what generally happens after you miss a mortgage payment. 

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Foreclosure Myths That Cost Homeowners Time and Money

While facing foreclosure, many homeowners become intimidated by the process. This is often due to the misinformation that surrounds foreclosure. Many people are convinced that foreclosure means that they will most certainly lose their homes. However, the process is thorough, and the specific details of your situation will be considered. 

Do not let yourself fall victim to some of these foreclosure myths if you want to save yourself time and money. 

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Foreclosure Alternatives Every Homeowner Should Consider

Many homeowners mistakenly believe that once a foreclosure notice is received, they will inevitably lose their homes. However, that’s often not true. In reality, several foreclosure alternatives may help you protect your home and gain control of your situation. 

Here are some options that some homeowners choose over foreclosure. 

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Why Timing Matters When Facing Foreclosure

When it comes to foreclosure, timing can make all the difference between saving your home and losing it. While it may be easier to bury your head in the sand and hope it will resolve itself, foreclosure moves on a legal clock. Ignoring crucial steps in the process will leave you with limited and even unreliable options. 

Here’s why acting early on is so important. 

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Signs it May Be Time to Speak with a Bankruptcy Attorney

Financial hardship can fall upon anyone, and unexpected life changes can quickly turn once manageable debt into overwhelming stress. Even though declaring bankruptcy is not an easy decision, speaking with a bankruptcy attorney will help you understand your options and protect you from future financial ruin. 

Here are some signs it may be time to see one.

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The Documents You Need to File for Bankruptcy

Filing for bankruptcy can be an intense and emotionally draining experience. To make it less overwhelming, it is best to go in prepared. Like any legal proceeding, bankruptcy requires you to gather and file a set of standard paperwork. While the exact documents vary depending on your individual circumstances, the following outlines the core requirements for filing in New York State.

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Foreclosure Scams to Watch Out For — And How to Protect Yourself

If you find yourself behind on your mortgage payments and your home in foreclosure, scammers may attempt to take advantage of your vulnerable financial state. 

The perpetrators of these scams, which claim they can resolve your debts and halt the foreclosure of your home, deceive you into providing them with enough information to take ownership of your home and for a fraction of its market value, leaving you stranded and homeless. Still, you will carry the title of holder of the mortgage of the home that is still in foreclosure. 

If you are going through the foreclosure process, it is important to recognize what these scams may look like and how you can best protect yourself from them. 

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Mediation vs. Litigation: Choosing the Best Path for Business Disputes

When it comes to resolving your legal matters, you may be unsure which path to embark on: mediation or litigation. 

While both of these processes are productive when it comes to settling disputes, there are specific benefits to each of them that may help you more than the other when it comes to certain cases. 

So, which is more helpful to you, mediation or litigation? Let’s find out. 

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