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Did you know the average New Year’s resolution only lasts 6 days? Many resolutions don’t even last that long but there are many resolutions truly worth keeping this new year. One of those resolutions to keep is “living within a budget” and using your budget to plan your future.

I say “living” because using a budget really is a habit you choose. It’s almost like you are determining your culture because you determine where your money goes and how it’s spent when you’re on a budget. That isn’t how things happen for 90% of the people you know (it may be why many of them are broke).

Creating a budget you can live by can be done with a pencil and paper if you want. But if you’d like t

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I have recently seen a few second mortgages “reaffirmed” in bankruptcy by some of my fellow bankruptcy attorneys. However, in Michigan, as I’ve described here, there is no reason to file what is called a reaffirmation agreement for a mortgage debt when you file a Chapter 7 bankruptcy. So long as you are current on your mortgage payments, you will likely have no issue with retaining your home (although there is the possibility that, if it is an especially “luxurious” home, the Bankruptcy Trustee appointed by the court to your case may see retention of the home as an issue of “good-faith” in your bankruptcy filing).

A reaffirmation agreement, in a nutshell, is an agreement signed as part of a Chapter 7 bankruptcy that must be approved by a judge to be valid, that in essence continues your legal liability for the reaffirmed debt even after the bankruptcy would have discharged it. In Michigan,

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Tags: Bankruptcy, File Bankruptcy

Q: My daughter and her ex-boyfriend got a loan, it was supposed to be used for her college but instead it was used for things he needed to fix up his home. They were going to get married, but as soon as the money was spent, he kicked her out. She got the loan and he co-signed for it. Then he got another girlfriend and he said he wasn’t paying another dime.

She is struggling to pay for it and he is going on with his life. What can she do to make him pay his share? What is his obligation? Would it be in her best interest to let it go delinquent because her credit is already ruined because of this loan?

He changed his phone numbers so they can’t call him; they call her or her parents all the time.

FREE TOOL: CHECK YOUR CREDIT Credit.com’s Credit Report Card Check your credit bureau profile for free with this great tool. See y Read full article…

CoreLogic’s CoreScore Report supplements credit data

In early October, CoreLogic, a leading provider of credit information, announced they have a report that assesses credit risk and could be used as a a supplement to the traditional credit report.  It is called the CoreScore Credit Report and ispliant with the Fair Credit Reporting Act (FCRA). It merges CoreScore consumer information and credit report data into one report. It

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Tags: Credit, Credit Reports

According to recent information, before long there will be the possibility of Social Networking sites being used to verify how trustworthy you are before agreeing to give you a credit card account or other line of credit.

Social Networking Authentication will use your social networking contacts to confirm that you are who you claim to be by seeking verification from your friends.

In turn you may also be asked to share information about your contacts with online merchants and credit card issuers to confirm their identities as well. This may well be the next step in authentication for merchants who are wary of fraud.

Experts say that participating in social network authentication services offer consumers the added benefits of preventing people from adopting your persona and masquerading as you online.

This is known as e-personation and can often lead to damaging the victims reputation even if it is not used for fraudulent purposes.

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Tags: Networking, Social Networking