Foreclosures Halted for the Holidays

Fannie Mae and Freddie Mac are halting foreclosures during the holidays. However, beware – foreclosures will start again in January.

http://www.cbsnews.com/8301-505145_162-57556892/fannie-freddie-halt-foreclosures-for-the-holidays/

Are you in foreclosure? Need legal advice? Contact Powell Law Offices, P.C. at (972) 584-9382.

www.powelllawoffices.com

Advertisements

The Anatomy of a Successful Budget

I think most everyone agrees that it’s important to live on a budget. However, budgets are NOT one size fits all. Just like with a diet, if you can personalize your budget to fit your family’s needs, you’re more likely to stick to it, as this article from MSN Money suggests.

What items can you not live without in your budget?

http://money.msn.com/frugal-living/post.aspx?post=787d0a53-601c-4c1a-a820-d21c81e3de8b

As always, contact Powell Law Offices, P.C. with any questions about your credit or debt. Powell Law Offices, P.C. also offers small business and short sale representation services, with free consultations.

http://www.powelllawoffices.com

 

 

 

 

 

Owe More On Your Home Than What It’s Worth?

If so, you’re not alone. This article reports that 1 in 3 homeowners owes more on his/her home than what it’s worth.

http://economywatch.msnbc.msn.com/_news/2012/05/23/11835006-one-in-three-mortgage-holders-still-underwater?lite

Are you underwater on your home? Contact us to discuss your options.

As with anything related to your credit and debt, it’s important to get the right information before dealing with it. Contact your Dallas Ft. Worth Bankruptcy Attorney at Powell Law Offices for a free consultation! We also have offices in Allen, Arlington Frisco, Plano, and Richardson to serve you.

www.powelllawoffices.com

Job Search Tips

With unemployment at record highs, I often have clients asking me for job search tips. Here are some of my favorites:

1) Use Indeed.com – in my opinion, the best job search website out there, because it compiles results from all websites, including Monster and Careerbuilder, making it a one stop shop. You can post your resume and sign up for job alerts.

2) Of course, use Monster.com and Careerbuilder.com. Make sure to post your resume – headhunters and recruiters check these websites frequently for qualified candidates.

3) Create a profile on Linkedin.com and make your network as large as possible. Then, post frequent updates, and join groups in your industry. Linkedin also has job postings, but there’s no better way to network online, and network with people in your industry across the country. Make sure to post a professional picture and pay attention to your profile – your profile on Linkedin is basically an online resume, so make it shine!

4) Reach out to your network on Facebook, but make sure to clean up your Facebook page first. It won’t help to post profile updates that state you’re looking for a new job when there are inappropriate or unprofessional pictures of you on Facebook. This is important – don’t ever make the mistake of thinking that because your Facebook profile is set to private or “invisible”, people can’t see your pictures or posts. Nothing is private on Facebook, and even if you have a profile set to “invisible” (meaning no one other than your friends can find your profile or see your posts, even on other’s pages) your profile, pictures, comments and posts are easily visible. I’ve seen this happen in a number of family law cases, where a parent has lost custody of their children due to negative remarks about the other parent made on their “private” or “invisible” Facebook page that they thought noone could see. Can you imagine, then, how it would affect a job search? Don’t be naive.

5) Join local networking groups, which you can find on Meetup.com. There is still no substitute for networking and making contacts in person. In this digital age, it’s important to find a way to stand out from the thousands of resumes submitted online for each position.

6) Write articles about a subject of interest in your career field an submit the articles to trade or industry group publications, and publish the articles online for free – ezine.com is just one of the websites where you can do this.

7) Pound the pavement! Show up to events in your industry, and attend relevant conferences. If there is a particular company you want to work for, dress in a suit, go to its offices, and drop off your resume in person (I got a job with a law firm during law school by doing this exact thing. The firm had a posting for a job, had received hundreds of resumes, and chose to interview me because I took the initiative to walk in and drop my resume off in person). Do anything that shows you take initiative – an important trait in an employee. (Make sure to be nice to the front desk staff  – believe me, employers always ask them whether you were polite or not.)

As with anything related to your credit and debt, it’s important to get the right information before dealing with it. Contact your Dallas Ft. Worth Bankruptcy Attorney at Powell Law Offices for a free consultation! We also have offices in Allen, Arlington Frisco, Plano, and Richardson to serve you.

www.powelllawoffices.com

The Benefits of Bankruptcy

Bankruptcy has gotten a bad rap. When I discuss bankruptcy with a potential client, I often am told, “Well, I’m not a bad person. I really do want to repay my debts.”

Filing bankruptcy doesn’t make anyone a bad person. No one files bankruptcy because he/she wants to (most of the time). For those who do so, filing bankruptcy is a necessity.

Bankruptcy can save marriages, save businesses, greatly reduce stress, improve health, and allow someone to breathe and regroup. Most of the time, someone has paid the debt back already, through interest payments alone! Filing bankruptcy allows people to unsaddle their debt load and start contributing to the economy again – no more debt payments means more money to spend.

The point is, don’t let misconsceptions about bankruptcy keep you from learning about all of your options to deal with your debt, including bankruptcy. Sometimes you just need to do what you need to do.

Dealing with debt and creditors is a very stressful process. Contact your Dallas Ft. Worth area bankruptcy attorney at Powell Law Offices to discuss your options, and allow us to take the stress out of it for you!

www.powelllawoffices.com

Common Mistakes That Hurt Your Credit Score

Someone always asks me how he/she can increase his/her credit score. Trying to increase a credit score is a lengthy process, but there are things you can do to try to prevent your credit score from decreasing in the first place.

1) Don’t max out your credit limit. A good part of your credit score is based on your balance to credit limit ratio. The lower this is (the lower the balance), the better.

2) Don’t apply for too many new accounts at once. (Each inquiry will cost you between 3 and 5 points on your credit score).

3) Don’t miss a payment. (A missed payment can drop your score by 100 points!).

4) Don’t close an old account, even if you’re not using it. Another large part of your credit score is the length of time you’ve had open accounts.

5) Don’t forget to check your credit report regularly. It is estimated that at least 30% of credit reports have errors on them. Even something as simple as an account being reported twice can lower your score.

6) Don’t ignore an account that has gone into collections. The longer it sits in a collections status, the worse for your credit score.

As with anything related to your credit and debt, it’s important to get the right information before dealing with it. Contact your Dallas Ft. Worth Bankruptcy Attorney at Powell Law Offices for a free consultation! We also have offices in Allen, Arlington Frisco, Plano, and Richardson to serve you.

www.powelllawoffices.com