Debt Consolidation Mortgage

By all standards, America has become a debtor nation.  The combination of excessive spending and declining savings has exponentially increased the demand for a debt consolidation mortgage.  Homeowners are now facing even greater challenges in coping with debts due to recent changes in the federal bankruptcy laws. 

Ironically, recent government studies revealed that the growing number of uninsured households burdened with medical expenses is the single largest contributor to a 150% surge in bankruptcy filings.  Very little if any special consideration has been provided for individuals that may have lost their employment, pensions, health benefits, or retirement income as a result of former employers filing for bankruptcy themselves.

• If your current monthly income is greater than the median income in your state, and you can afford to pay $100 per month toward paying debts, a Chapter 7 bankruptcy would not be allowed.
• The automatic stay provision has been eliminated for divorce and child support proceedings.
• You must complete credit counseling before being allowed to file a bankruptcy petition.  This is mandatory even if a repayment plan is not practical or affordable.
• Federal tax returns are required.  If you have not resolved any unpaid taxes, a bankruptcy petition would not be allowed.

The stress and hardship individuals encounter when trying to regain control over escalating expenses can be minimized by reducing debts to a manageable payment through a debt consolidation loan.  Avoiding the negative credit stigmatization typically associated with bankruptcy is another tremendous benefit of debt consolidation.

• Reduce Debt
• Lower Monthly Payments
• Salvage Credit Rating
• Eliminate Stress