What Control Do You Have Over Payment Of Debts?
If you owe more than one debt, any payment you make must be applied to the debt you indicate. A debt collector may not apply a payment to any debt you believe you do not owe.
The Mortgage Forgiveness Debt Relief Act of 2007
In December 2007, the federal government enacted the Mortgage Forgiveness Debt Relief Act. The Act was meant to provide tax relief to taxpayers who had debt forgiven on their primary residence and to help struggling homeowners. The Purpose of the Mortgage Forgiveness Debt Relief Act The idea behind the law was to help homeowners avoid foreclosures by not taxing them …
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Dealing with Debt
Dealing with finances is never easy, and for all too many Americans, debt problems have become a major issue in their lives. With the current economic crisis, rising unemployment rates, and steadily increasing costs of living, many people are experiencing the positive and negative effects of credit, debt, and the contracts that are created as a result of financial …
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