Posted on October 27th, 2014
An October 19 article by the Chicago Defender stated that rap artist and actor DMX paid $250,000 to prevent his Mount Kisco, New York family home from being foreclosed on.
The 43-year-old rapper reportedly was sued by Compass Bank last year for failing to settle a mortgage loan worth $500,000 that he borrowed in 2004. The bank then demanded the foreclosure of DMX’s home after accusing him of not wanting to pay the loan. The rapper, whose real name is Earl Simmons, paid the necessary amount after Compass failed to continue pursuing him in the lawsuit. DMX acquired the $649,000 house back in 2000.
Being threatened by foreclosure can be frightening, especially if you do not know which options to consider next. If you are experiencing this, enlisting a skilled lawyer could be crucial to learning about the legal options available to you. Find out how the Birmingham lawyers of Greenway Law, LLC., may prevent your home from experiencing foreclosure by calling (205) 324-4000 today.
Posted on October 7th, 2014
The ex-singer for the English girl band “Sugababes,” Mutya Buena, recently declared bankruptcy due to an unsettled tax bill, an article on Mail Online stated September 26.
Documents forwarded to Companies House revealed that Buena, 29, had overwhelming personal and business debt. Though the singer is blaming an “administrative error” as the main cause of her bankruptcy, representatives stated. Buena is currently performing with two other ex-members of the Sugababes. Many were surprised to hear news of her financial trouble because of her previous success, which included four songs topping the UK pop charts.
The Birmingham lawyers of Greenway Law, LLC understand that many people are suffering from unmanageable financial troubles. If you are experiencing this, we may be able to offer you sound legal advice that could provide relief from overwhelming debt. Find out more about your options today by calling (205) 324-4000.
Posted on September 30th, 2014
According to research, the amount of student debt held by the American elderly has escalated in recent years, the New York Times reported on September 12.
According to the “Household Debt and Credit Report,” unsettled student loan debts held by senior citizens reached $43 billion from the $8 billion recorded nine years ago. Data from the Treasury Department stated that since last July 31, the Social Security benefits of nearly 140,000 elderly citizens are being deducted to cover their unpaid student loans. The Federal Reserve Bank of New York stated that an estimated 2 million elderly in America aged 60 and above are plagued with student loan debts.
Suffering from overwhelming student loan debts can be frustrating, especially if you depend on Social Security benefits and your finances are already limited. However, if you are experiencing this in Birmingham, the lawyers at Greenway Law, LLC., may work for you. Find out how our lawyers may possibly help you get rid of your debts today by calling (205) 324-4000.
Posted on September 23rd, 2014
Ex-Westlife member Shane Filan expressed relief after moving on from bankruptcy and is currently writing a book regarding his financial struggle, an article on Irish Mirror reported on September 4.
According to reports, the 35-year-old singer/songwriter of the popular Irish boy band filed for bankruptcy two years ago after millions worth of his real estate investments were affected by the recession. These days, Filan says that he and his family are slowly recovering from the slump. His financial troubles are frankly detailed in his autobiography, My Side of Life, due out in October. Filan is hoping that his autobiography will provide hope and solidarity for people who are suffering from crippling debt.
Financial problems can feel overwhelming. Though in this difficult situation, a lawyer may possibly offer you personalized legal solutions to help you manage your debt. Find out how the Birmingham lawyers at Greenway Law, LLC may work for you today by calling (205) 324-4000.
Posted on September 3rd, 2014
Hundreds of people in Tuscaloosa flocked to Calvary Baptist Church on the night of August 11 to advocate for a limit on the interest rates of payday loans, The Tuscaloosa News reported.
According to reports, more than 200 people showed up to urge the state’s lawmakers to cap the interest rates that pay day loan lenders can charge. Center for Ethics and Social Responsibility’s director and founder Stephen Black urged those who were in the rally to message their corresponding state legislators to limit the annual interest rate of payday loans to 36 percent. The group, organized by members of Tuscaloosa Citizens Against Predatory Practices (T-CAPP), is hoping that their move will be considered by legislative bodies in their convention next year. Policy analyst Stephen Stetson said as it stands, Alabama borrowers can end up facing interest rates up to 456 percent from taking out new loans to pay off the old ones.
Being trapped in the vicious cycle of payday loans may leave you feeling overwhelmed. If you are in a situation like this, a lawyer may possibly offer you legal solutions to help you manage your debt. Learn more about your options from the Birmingham lawyers at Greenway Law, LLC., today by calling (205) 324-4000.
Posted on August 22nd, 2014
According to a recent study, older people are likely to exhibit signs of depression if they are plagued with a certain amount of unsecured debt, a Newsday article stated on August 1.
In the study conducted at Rutgers University, the researchers stated that an estimated 30 percent of people aged 51 and above have unsecured debts, such as from a credit card or unpaid bills. The study also revealed that the higher the debt was in proportion to income, the greater the chances that person showed signs of depression. A different study listed the average amount of credit card debt for adults 50 and over was $8,300.
In times of financial hardship, debts can quickly become unmanageable and overwhelming. However, there may be method of recourse for those in debt to start again. The attorneys at Greenway Law, LLC., may be able to offer you legal solutions to mitigate or manage your debt. To learn more, call our Birmingham offices at (205) 324-4000 today.
Posted on July 31st, 2014
A recent report released by RealtyTrac said that nationwide foreclosure activity was the lowest since the U.S. was plagued by the foreclosure crisis, an article by the World Property Channel stated on July 17.
Last June, there were 613,874 homes recorded in the U.S. in different stages of foreclosure procedures. The recent data was reportedly lower by 23 percent compared to the first half of last year. Also in June, a 4 percent decrease in foreclosures was observed, and bank repossessions decreased by 5 percent compared to the month before. Though overall foreclosure continues to improve, RealtyTrac stated that at least 15 states last month experienced an increase in foreclosure activity.
Though the U.S. foreclosure rate continues to improve, many homeowners are still having troubles honoring their mortgage obligations due to financial difficulties. If you are struggling to avoid foreclosure in Birmingham, the lawyers at Greenway Law, LLC., may offer you legal solutions to help defend your home. Learn more about how our legal team can help by calling (205) 324-4000 today.
Posted on July 17th, 2014
Former owner of the Amerks and Knighthawks, Steve Donner filed for bankruptcy in Florida, the Democrat & Chronicle stated on July 3.
The 57-year-old sports mogul and his wife reportedly filed for Chapter 7 bankruptcy last May. Donner, who had an outstanding debt of $9.5 million, listed his two vehicles as his remaining assets of an estimated amount of $17,000. The bulk of Donner’s debt was a loan worth $8.5 million acquired from NBT Bank to finance the construction of Sahlen’s soccer stadium. Currently Steve and his spouse Lynne have listed a monthly income of $4,000. Aside from being a project manager for the Daytona Ice Arena, Donner stated recently that he works with a meat packaging firm.
Facing overwhelming debts can be frightening and make you feel helpless. However, a lawyer may offer you legal options to help you recover from your debts. Find out how the Birmingham-based lawyers at Greenway Law, LLC., may work for you today by calling (205) 324-4000.
Posted on July 1st, 2014
In legislation recently proposed by a senator, students who took out private loans may have them discharged in bankruptcy cases, an article by the Huffington Post stated on June 25.
In the Higher Education Affordability Act introduced by Senator Tom Harkin (D-Iowa), the option was proposed for struggling borrowers of private student loans to have their debts discharged through bankruptcy, as federal student loans can be. Individuals who borrow funds from private lenders struggle to settle their debts due to higher interest rates than loans from the government. A report by the Wall Street Journal said an estimated 15 percent of the total education debt was from individuals who borrowed from the private sector.
The attorneys of Greenway Law, LLC., know that many Birmingham individuals are struggling to repay their student loans. If you are in such a situation, we may possibly offer you legal solutions to solve your debt problems. Discuss your situation with us today by calling (205) 324-4000, and find out how we may help you.
Posted on June 18th, 2014
A recent report by real estate firm RealtyTrac stated that there has been a steady decline in foreclosure activity in the last eight years, CNBC reported on June 10.
Reports said that in May, banks acquired fewer homes and property owners filed for fewer foreclosures than in the past eight years. At least 109,824 homes nationwide were recorded in foreclosure procedures in May, a decline of 6 percent from April. Nationwide, records showed that banks only acquired 28,373 homes in May, and at least 47,085 homes were auctioned–both numbers the lowest since 2007. RealtyTrac Vice President Daren Blomquist is optimistic that the foreclosure rate will continue to decline.
Unfortunately, the lawyers at Greenway Law, LLC., understand that in Birmingham alone, many homeowners are still plagued by foreclosure crisis. If you are in a situation like this, other legal options may be available to you to protect your home. Speak with us today at (205) 324-4000 to learn more about your options.