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write off debt – Latest write off debt news – Is the Falling Euro an Opportunity or a Threat to US Importers?

Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…

Is the Falling Euro an Opportunity or a Threat to US Importers?

International Monetary Fund estimates suggest that the Euro-zone is well behind the US in terms of writing off bad assets even before the Greek crisis. … Read More…

Citibank credit card charge-offs decline in April

Card companies write off loans that are 180 days past due, when it's assumed the balances can't be collected. In the past year, the industry has written off … Read More…

More on Cortney Munna's Student Loan Tale

It was always just the next step to take: Get into good school. Get decent scholarship. Work hard. And have it all pay off in the end. Read More…
That’s all the news for today guys, so until next time, thanks for stopping by.

You want to get divorced, and you’re not sure how to go about it. You can hire a divorce lawyer, or try to do it yourself. Many people are ending their own marriages these days. Still, there are some things you should think about before you start your own divorce case.

Do you have anything to fight about? In many divorces, the parties end up hiring divorce lawyers and spending a lot of money when they don’t have very much to lose. If you haven’t been married for long, chances are good that you haven’t done anything together that you need to bring to a judge’s attention. All you need to do is end your legal connection to each other. With the right forms, you can do that much on your own. Among the things you should base your decision on whether to hire an attorney are:

1. Do you own a home together? If you do, and you haven’t owned it for long, chances are that there isn’t enough equity to justify attorney’s fees. Houses aren’t usually worth more than you owe on them when you first buy them. Unless you made a big down payment or the price of real estate is rising where you live, your mortgage is probably as much as your house is worth. You would have to be paying on it for several years to have “equity” or value that would give you any kind of profit if you put it on the market.

In many divorces, one of the parties refuses to sign his interest in the house over to the other unless payment is forthcoming. The husband / wife will demand that the other spouse cough up several thousand dollars before they will let their name be removed from the title. This makes sense if the house is worth more than you owe on it, plus the cost of selling it, but otherwise, you should be glad your spouse is assuming a bad debt.

The person who wants to keep the house should try to get a mortgage in his own name. If he does, and later he falls on hard times and can no longer make the payments, the other spouse won’t have to worry about being sued for the delinquency.In addition, the other spouse will have better luck getting her own mortgage when she is ready to buy another home.

better able to get another mortgage when he / she is ready to buy a new home.

If you don’t know what your home is worth, get it appraised. A fee appraiser can compare your house and its present condition to others that have sold in your neighborhood. The resulting estimate will give you some idea what you should ask for it on the open market, or what your spouse should pay you for your interest.

2. People fight over cars when they get divorced. Divorces can get very expensive when people pay attorneys to go after vehicles. It may seem unfair to give up a car or truck that you have been making installment payments on for months. However, it is doubtful that the car or truck is worth more than you owe on it. If your spouse can refinance the car or truck in his / her name alone, paying an attorney to go after it for you may cost you a lot more than you would gain.

Again, it is rare that you can sell a car for what you still owe on it, and you should always factor the attorney’s hourly fee when you are deciding whether a motor vehicle is worth receiving in a divorce settlement. You may be better off putting the money you don’t spend on a lawyer towards the purchase of a new car.

If you can keep the car you usually drive, you should find this issue easy to resolve. However, if one of you is driving a car you can’t afford, or that is on its last legs other arrangements should be discussed. If one of the cars is newer, the person who keeps it should compensate the other party if the good car is debt free.

3. Personal property is another money drainer in divorces. If you fight over appliances, furniture and dishes, you could end up paying your attorney a lot more than these things are worth. Furniture and appliances lose value quickly. Even if you feel you made the lion’s share of the payments, and should be entitled to keep the object, you might save more money if you just cut your losses and buy new.

You have to decide for yourself what is worth fighting for in your divorce. You should hire an attorney if the item in dispute is valuable, and important to you. However, if you and your spouse can negotiate your issues, and avoid quibbling over trivial things, you might find that you can end your marriage without a lawyer’s help just by filing the right forms. Ask at your local library or courthouse. Good luck.

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