Latest Posts

Short Sales - Beware of Shortcomings!

A short sale may seem like a great way to avoid the financial devastation of foreclosure, but it's not always the smartest move. There may be better legal protections by going the foreclosure route and the damage to your credit score may be the same. Here are some things you should know before you decide:1. Your credit score will tank just the same A short sale and a foreclosure have the same impact on your credit score because they are both regarded as serious delinquencies, according to a spo...

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Debra G. Simms 2/7/2010 10:29:00 AM Comments(0)

The Emotional Side of Bankruptcy - call 211

I know from my law practice that people facing bankrutpcy are often suffering with anxiety, depression and maybe even domestic abuse, all brought on by the turmoil of this recession. Hard working folks are looking face-to-face with the Big Bad B word, and it hurts. It's unthinkable. Last November, this community was rocked by the news that a young father was killed and 4 others were shot and injured in a downtown office building. The man charged with the crimes had recently filed bankruptcy. ...

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Debra G. Simms 2/1/2010 8:00:00 PM Comments(0)

Credit Card Bail Out?

Have you seen or heard the debt relief advertisements about how people who owe more than $10,000 in credit card debt can get relief under the Obama financial bailout plan?It goes something like this: The relief given to large financial institutions under the economic stimulus plan is now available to Main Street. Large creditors were given billions in government stimulus money and now have more flexibility when it comes to negotiating personal debt bailouts through a debt settlement process Th...

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Debra G. Simms 1/31/2010 3:15:00 PM Comments(0)

Relief for Homeowners? Not so Fast!

RELIEF FOR HOMEOWNERS? NOT SO FAST! It’s old news that the financial crisis and the housing market created devastating consequences for homeowners and communities throughout the country. Workers who have lost their jobs or had their hours cut are struggling to stay current on their mortgage payments. Refinancing to lower mortgage rates is not an option for even those with a steady income because in many cases the property isn’t worth what’s currently owed. Millions of famili...

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Debra G. Simms 1/28/2010 3:34:00 PM Comments(0)