Solve Your Money Troubles

1. How Much Do You Owe?

• How Much Do You Earn?
• How Much Do You Owe?

2. If You’re Married, Divorced, or Separated

• Community Property States
• Common Law States

3. Debts You May Not Owe

• You Are the Victim of Misrepresentation or Other Fraud
• The Seller Breached a Warranty
• Your Car Is a Lemon
• Home Mortgage Contracts
• You Canceled a Contract
• You Received Goods You Didn’t Order
• You Don’t Want Goods on Layaway
• Canceling Automatic Deduction Payments
• You’ve Been “Slammed” by a Phone Company
• You’ve Been “Crammed” by a Phone Company

4. Prioritizing Your Debts

• Secured and Unsecured Debts
• High-Priority Debts
• Medium-Priority Debts
• Low-Priority Debts
• Review Your Worksheets

5. Negotiating With Your Creditors

• Communicate With Your Creditors
• Rent Payments
• Mortgage Payments
• Utility and Telephone Bills
• Car Payments
• Secured Loan Payments
• Insurance Payments
• Medical, Legal, and Other Service Bills
• Child Support and Alimony Payments
• Income Taxes
• Student Loan Payments
• Credit Card Payments
• Negotiating When the Creditor Has a Judgment Against You
• Pay Off a Debt for Less Than the Full Amount
• Don’t Write Postdated Checks
• Beware of the IRS If You Settle a Debt

6. Finding Money to Pay Your Debts

• Increase Your Income
• Get Some of Your Tax Refund Early
• Sell a Major Asset
• Sell Smaller Items
• Cut Your Expenses
• Withdraw Money From a Tax-Deferred Account
• Apply for Government and Agency Help
• Consider a Home Equity Loan
• Use the Equity in Your Home If You Are 62 or Older
• Borrow the Money
• Get Your Tax Refund Fast
• What to Avoid When You Need Money
• Avoid Bank and Credit Union Prepaid Cards With Advances

7. What to Expect When You Can’t Pay Your Debts 

• Eviction
• Repossession
• Tying Up Property Before a Lawsuit
• Lawsuits
• Lawsuits Against Third Parties Who Hold Your Assets
• Liens on Your Property
• Jail
• Bank Setoff
• Intercepting Your Tax Refund
• Loss of Insurance Coverage
• Loss of Utility Service

8. Reducing Mortgage Payments and Dealing With Foreclosure

• Foreclosure
• Overview of Nonjudicial Foreclosure
• Judicial Foreclosures
• The Sale
• Defenses to Foreclosure
• Watch Out for Deficiency Balances
• Alternatives to Foreclosure
• Short-Term Informal Payment Plans
• Federal Programs for Homeowners Facing Possible Foreclosure
• Mortgage Workouts
• Refinancing
• Selling Your House
• Short Sales and Deeds in Lieu of Foreclosure
• Other Programs to Help Homeowners

9. Dealing With Debt Collectors

• Creditor or Collection Agency?
• Negotiating Secured Debts
• Before Your Debt Is Sent to a Collection Agency
• When Your Debt Is Sent to a Collection Agency
• Illegal Debt Collection Practices
• How to Fight Back If a Collection Agency Violates the Law

10. Choosing and Managing Credit Cards

• The Credit CARD Act
• Credit Card Traps
• Trouble Paying Your Bill
• Using Credit Cards Wisely
• Cards You Didn’t Request
• Rejected and Blocked Cards
• Liability If Your Credit Card Is Lost or Stolen
• Unauthorized Use of Your Card by an Acquaintance
• To Dispute a Credit Card Bill
• Debit Cards
• Prepaid Debit Cards

11. Understanding Loan and Other Credit Documents

• Required Credit Disclosures
• Terms of Credit Agreements

12. Student Loans

• What Kind of Loan Do You Have?
• Figuring Out Who Holds Your Student Loan
• Canceling Your Loan
• Postponing Payments
• Repaying Student Loans
• Getting Out of Default
• Filing for Bankruptcy When You Can’t Pay
• Consequences of Ignoring Student Loan Debt
• Where to Go for Help

13. Child Support and Alimony

• How Child Support Is Determined
• Modifying the Amount of Child Support
• If Paternity Is Disputed
• Enforcement of Child Support Obligations
• Alimony
• Bankruptcy and Child Support or Alimony Debt
• Taxes, Child Support, and Alimony

14. If You Are Sued

• How a Lawsuit Begins
• Negotiate
• Alternative Dispute Resolution
• Respond in Court
• What to Expect While the Case Is in Court
• When the Creditor Gets a Judgment Against You
• Stopping Judgment Collection Efforts

15. Bankruptcy: The Ultimate Weapon

• Kinds of Bankruptcy
• Filing for Bankruptcy Stops Your Creditors
• Chapter 7 Bankruptcy
• Chapter 13 Bankruptcy
• Will Bankruptcy Solve Your Debt Problems?

16. Property Creditors Can’t Take

• Property Subject to Collection
• Property Subject to the Bankruptcy Court’s Authority
• Applying Exemptions
• Is Your Property Exempt?
• Turning Nonexempt Property Into Exempt Property

17. Rebuilding Your Credit

• Avoid Overspending
• Understand Credit Scores and Credit Reports
• Clean Up Your Credit Report
• Your Credit Score
• Build Credit in Your Own Name
• Ask Creditors to Consider Your Spouse’s Credit History
• Use Existing or New Credit Cards
• Open Deposit Accounts
• Work With Local Merchants
• Obtain a Credit Union or Bank Loan
• Avoid Credit Repair Clinics

18. Illegal Credit Discrimination

• Basic Protections
• Sex Discrimination
• Marital Status Discrimination
• Sexual Orientation Discrimination
• Race Discrimination
• National Origin Discrimination
• Age Discrimination
• Postbankruptcy Discrimination
• Your Rights to Notice Regarding Credit Decisions
• If You Are Denied Credit or Offered Expensive Credit Terms
• Lawsuits Based on Credit Discrimination or Notice Violations

19. Help Beyond This Book

• Looking Up the Law
• Lawyers
• Debt and Credit Counseling Agencies

Glossary

Appendixes

A. Federal Agencies

• Where to Complain About Credit Discrimination

B. Contact Information for Useful Agencies, Organizations, and Other Entities

C. Federal and State Exemption Tables

D. Worksheets

• Worksheet 1: Monthly Income
• Worksheet 2: Your Debts
• Worksheet 3: Property Checklist
• Worksheet 4: Property Exemptions
• Worksheet 5: Daily Expenses
• Worksheet 6: Monthly Budget

Index