Fonfrias Law Group LLC.

When the housing bubble popped, most homes went down in value. Some went way down! As a result, your home's value may be equal to (or even less than) the amount of your first mortgage. This means, for practical purposes,…more

Many consumers think that they must fall behind on their bills and be in arrears before they can file for bankruptcy. Not so. In fact, you're in a stronger position - and you have more options - if you file for bankruptcy…more

Homeowners are quickly discovering the importance of hiring an experienced bankruptcy lawyer to defend them against mortgage foreclosures by lenders. And if you are facing foreclosure - or if your lender has already filed a…more

If you have a past-due account that a creditor has charged off - which means that the creditor has written off your account as a bad debt - you may discover that a collection agency still tries to get you to pay the debt…more

Most people don't know it -- but their credit score plays a major role in determining the interest rate on a new loan. People often conclude that if they apply for and get a loan, they have good credit. Not true. Many people…more

If you manage your credit well after filing for bankruptcy, a FICO score in the 700s is possible. Here are steps you can take to improve your credit score and build a good credit score rating after a bankruptcy. Step #1:…more

As health care costs and hospital bills continue to skyrocket, more and more families face medical bills they can't even begin to pay. And in spite of new legislation and talk about universal health care coverage, the fact…more

COSTLY MISCONCEPTION #1: You are not eligible for a loan modification until you are late paying your mortgage. Not true. Your lender or loan servicer will probably give you more attention if you are late, but there's no hard and…more

First, don't be afraid of your 341 hearing. Here's what you can expect. In most cases, the only people who attend a 341 meeting of creditors are you, your lawyer, and a bankruptcy trustee -- or someone in place of your…more

QUESTION My husband and I earned too much money to file a Chapter 7 bankruptcy. As a result, we filed for Chapter 13. We surrendered our home to the lender and then my husband lost his job. Then our bankruptcy was dismissed…more

It's a common misconception. Most people conclude that no one will give them credit after a bankruptcy. But this isn't true. You simply have to look in the right places -- and go about it the right way. As you may…more

If you receive a letter or notice from the IRS, it will explain the reason for the correspondence and provide instructions. Many of these letters and notices can be dealt with simply, without having to call or visit an IRS…more

When a creditor turns your account into a charge-off, this means that the creditor considers your account a "bad debt" and wants that reflected on your credit report as a warning to future creditors. In most cases, this happens…more

Credit reports are often wrong, so make sure you frequently review your credit profile and dispute any entries that are not correct. After bankruptcy, credit repair should be a top priority. It is never too soon to start working…more

Repairing your credit isn't hard. You can do it yourself -- or you can hire a qualified, reputable professional to help you. Here are 7 costly misconceptions about credit repair that could thwart your attempts to improve your…more