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September 2012 Archives

Prosecutors team up with collection companies

People in financial straits around the country, including in Massachusetts, may face the embarrassment of accidentally writing a bad check. Honest people without a lot of savings write bad checks for many reasons, such as being involved in a divorce or simply writing a check on the wrong account. So it may shock many of these people to receive a letter from a local prosecutor threatening them with jail time if they do not both pay the check back and take an oftentimes expensive financial management class.

Dreaming of homeownership after bankruptcy?

Residents of Massachusetts who recently went through bankruptcy proceedings may not have to wait as long as they might think in order to purchase a home. A common misconception is that a family may have to wait years, or even a decade, in order to convince a bank even to consider offering them a mortgage. In fact, for certain federally subsidized loans, a family who works hard to improve their finances may get approved for a mortgage within one year.

How difficult is it to get financial relief from student loans?

Massachusetts college students usually expect that their degrees will open opportunities for them to make enough income to pay back their student loans promptly. However, unexpected life changes and financial challenges may put a college grad under the mounting weight of a delinquent student loan.