New 40-Year FHA Loan Modification Option
Submitted by the Bond & Botes Law Offices - Thursday, May 5, 2022
There is a proposed change to the FHA options offered to homeowners and buyers in terms of mortgages. With a longer-than-ever 40-year term announced with the intent of helping keep people in their homes, reduce foreclosure actions and make housing more affordable.
Gen X Debt and Retirement
Submitted by the Bond & Botes Law Offices - Tuesday, April 12, 2022
A recent study found that Gen X (42 to 57 years old) is the least likely generation to know when they want to retire and how much money they’ll need to do it. The typical Gen X household has about $64,000 saved for it — not nothing, but not enough to generate a lot of income. It also found that 20 percent of Gen X respondents overestimate how much they can pull from their retirement funds.
Repossession: Can a creditor really take my property?
Submitted by the Bond & Botes Law Offices - Sunday, April 3, 2022
If you find yourself in a position in which you are overrun by debt and unable to manage your payments, you have probably already started receiving phone calls from creditors and letters in the mail demanding payment.
Household debt increased by $1 trillion
Submitted by the Bond & Botes Law Offices - Thursday, February 17, 2022
Recently it was reported that Americans added over a trillion dollars in debt during 2021. To put that into perspective that is a little more than $2,750 for every person in the country. This is the largest amount recorded in 14 years.
Security Clearances and Criminal Charges
Submitted by the Bond & Botes Law Offices - Tuesday, January 25, 2022
By Ronald C. Sykstus
One of the issues that I have seen lately is individuals with clearances getting criminally charged with federal or state offenses. What should you do if you hold a security clearance and find that you are charged or have pending criminal charges in federal or state court?
Your Tax Refund and Bankruptcy
Submitted by the Bond & Botes Law Offices - Monday, January 24, 2022
It comes up every tax season. You’re looking forward to receiving a big tax refund check, and you’re also working hard to get your bankruptcy case filed. So, what happens to your tax refund in a bankruptcy case?
Student Loan Debt - and How to Avoid It
Submitted by the Bond & Botes Law Offices - Friday, December 17, 2021
It is no secret that going to college will cost money. Along with tuition, currently $545 per credit hour for in-state students at the University of Alabama, there are many more costs to consider when going to college; housing, food, travel, books, fees, and all these before one football game or social event.
Inflation and the impact on Your Debt
Submitted by the Bond & Botes Law Offices - Friday, November 19, 2021
It is a cold fact that everything is getting more expensive. Inflation is cruel, making the cost of what you need today like gas, food, clothes, and just about everything more expensive. For many that have incurred debt like mortgages, car loans, credit cards, and medical debt, inflation will surely require hard choices.
Bankruptcy and Employment
Submitted by the Bond & Botes Law Offices - Wednesday, October 13, 2021
A common question asked by our clients who are contemplating filing bankruptcy is whether or not doing so will affect their employment. According to 11 U.S. Code § 525, neither a government or private employer “may terminate the employment of, or discriminate with respect to employment against ...
What is Debt Settlement?
Submitted by the Bond & Botes Law Offices - Friday, September 17, 2021
Debt settlement typically involves contracting with a debt settlement company to handle the negotiations for you. For a fee, the company will negotiate with your creditor to accept a reduced lump-sum payment of what you owe them, mostly on unsecured debt like credit cards.