STATE OF MICHIGAN – NOTICE TO CONSUMERS Under the Equifax voluntary security freeze program you may request that a security freeze be placed on your Equifax Information Services LLC (Equifax) credit report by sending a request in writing by certified mail or by electronic means as described below. The security freeze on your credit report will prohibit Equifax from releasing your credit report without your express authorization. The security freeze is designed to prevent the release of your credit report without your consent. However, you should be aware that using a security freeze to take control over who is allowed access to the personal and financial information in your credit report may delay, interfere with or prohibit the timely approval of any subsequent request or…

HARP is designed to allow responsible homeowners to take advantage of lower mortgage rates and payments, even if you owe as much or more on your home than it’s currently worth. When you refinance with a government-backed HARP loan there’s no smarter way to start saving on your mortgage. With HARP, you could save money as you meet your financial objectives. You can lower your monthly payment and realize long-term savings. In fact, according to Fannie Mae, HARP clients save an average of $250 a month! That’s money you can put toward the things you really care about – such as your family. Or use it to pay off your home faster. It’s your money and your choice. HARP allows you to pick a term…

Yes. Starting on June 1, 2014, the fees required to file for bankruptcy will increase. Here are the new amounts: Chapter 7 bankruptcy:  $335 (up from $ 306) Chapter 13 bankruptcy:  $310 (up from $281) Chapter 12 bankruptcy:  $275 (up from $246)

As reported by Mark Keierleber of Washington DC, 7 Democratic members of Congress are pushing for clarity and lenience in how the Department of Education and its contractors forgive student-loan borrowers who are bankrupt and unable to pay back their loan debt. The panel included Sens. Richard J. Durbin of Illinois, Jack Reed of Rhode Island, and Elizabeth A. Warren of Massachusetts, along with Reps. Steven I. Cohen of Tennessee, John Conyers of Michigan, Elijah E. Cummings of Maryland, and Hank C. Johnson of Georgia. “Because federal law treats student debt as nondischargeable in bankruptcy proceedings, borrowers can be burdened with this debt for a lifetime even if circumstances make it unlikely that the borrower will ever be able to repay,” the members wrote in…

Here is a summary of the New Real Estate Settlement Act and Truth in Lending Act that take effect in 2014: Consumers must be provided with a periodic statement showing information on the payment due and the application of past payments. If a consumer is 45 days or more delinquent they are required to receive a notice stating the date they became delinquent, notification of risk and expenses, and account history for the previous six months, and the total payment to become current. The initial interests rate adjustment notice must be provided to a consumer between 210 days and 240 days before the first payment is due, and ongoing interest rate adjustment notices must be provided to consumers between 60 and 120 days before the…

President Obama’s remarks about student loans during his State of the Union address ring true for millions. The President’s succinct message about the massive burden posed by student loans to millions of Americans was spot on: Cap student loan payments at ten percent of the borrowers monthly income. A similar proposal was presented by Senator Elizabeth Warren in 2013. Since 2003, the total debt of individual Americans has ballooned from $7.2 trillion to $11.3 trillion. That is an increase of 56%. During the same period – Student Loans have quadrupled – growing from $241 billion to $1.03 trillion. Over the last 10.5 years, the total debt has risen by an average of 4% per year, but student loan debt has risen by more than 14%…

Sen. Kirsten Gillibrand is renewing a call for legislation that would allow student borrowers to refinance their federal student loans at lower interest rates, urging President Barack Obama to push the effort in his State of the Union speech Tuesday. The New York Democrat said Sunday there’s currently about $1.2 trillion in student loan debt nationwide — and the average New York graduate owes more than $27,000. “It would help out any graduate who owns student debt,” Gillibrand told WCBS 880. “It will help literally millions of people across the country who have enormous amounts of student debt. In New York alone, there are 2.7 million borrowers who have federal loan debt, and 76 percent of their loans would be eligible for refinancing under our…