RSS Feed

Has filing for bankruptcy any benefits?

No reasonable person would never consider bankruptcy just for no reason. Bankruptcy is not a walk in the park and we can certainly put an emotional charge about you and your family. Bankruptcy is not just a motion that anyone can jump on you without having some way. Filing bankruptcy may make you feel like

Begin your own way of banking

Banking can be a challenge or can become an easy process. Only after two years using we can understand what we want from our bank. We just need to use the Internet for our banking. May be somebody still does not trust the Internet and that’s OK. We have confidence in the safety of banks

Do you find a good bankruptcy attorney?

In our economy, it is not unusual that people become quite overwhelmed with debt. You know about this from the news, friends and relatives, and in some cases, your own home. But if you’re the only one facing a mountain of debt, it is important to know who to contact to help you get back

How you can economize on your banking

Banks are a necessary part of any modern financial system. However, this does not mean that you should pay more fees or charges that you owe. Using some easy rules can help you save money during the most of your banking transactions, and reduce your costs or expenses. Many banks provide SMS alerts prior invoices

How to get your life back on track with debt consolidation services

Posted by admin on June 22nd, 2011

You should consult the debt consolidation service, if you are stuck in a debt trap. It is wise to go for these services before becoming bankrupt or facing foreclosure to restore your credit score. If your debts are increasing day by day, rather than waiting to deal with the consequences that you should go for consolidation company non-profit organizations that can help you to overcome. The debt consolidation company can reduce your monthly payments. This can be done through negotiation with your creditors to reduce your interest rate and reduce or minimize late fees or penalties.

You must look for the best online debt relief companies and learn about their plans for debt consolidation. From what you can get much better idea of the company to choose. You are also allowed to personally meet the first free session of debt relief to know their method of work before you decide on a company.

Non-profit consulting services will help you get your life back on track. Debt consolidation experts review all your credit history. Read full post…

Tags: debt consolidation service
No Comments

Bankruptcy Filings Dropped in April

Posted by Oswald Goldstein on June 22nd, 2011

Recently released numbers on personal bankruptcy filings show that April’s numbers were down from both March 2011 and April 2010, more or less following the trends that experts have predicted for the remainder of this year. Here’s a closer look at the specifics, and what this means for you.

  • The 21 business days in April saw 130,000 total bankruptcy filings, which comes to 6,177 filings per business day.
  • The number of filings shows a decline of 2.9 percent from March, and 7.1 percent from April 2010.
  • So far this year, filings have decreased each month at a rate somewhere between 5.6 percent and 8.2 percent compared to 2010 numbers.
  • In the past 12 months, 4.9 in 1,000 people have filed bankruptcy petitions. The number in 2004 (before the new bankruptcy law was passed) was 5.5 per thousand.

According to these statistics, April 2011 bankruptcy numbers suggest a decline in bankruptcy filings both compared to recent months and to last year. Ban

Read full post…

Tags: April, Bankruptcy Filings
No Comments

How does bankruptcy affect your mortgage approval?

Posted by Nancy Prew on June 21st, 2011

Bankruptcy is a credit-killer, right? Not necessarily. If your choices are to file for bankruptcy protection, getting your finances under control or racking up late payments, missed payments, collections and judgments, bankruptcy can be far easier to put behind you.

Bankruptcy is like cutting off an arm

There’s a reason that in war movies they always do the anesthesia-free amputations quick–because although it’s not painless it’s a lot better than slowly hacking at bone and flesh until the limb drops off. So if you’ve got a lot of expenses and no way to meet them (you’re unemployed, for example, and the credit cards you’ve been living on are maxed out) filing quickly can minimize the credit fallout and get you relief fast. I have personally seen clients (who paid their bills on time every time but filed when they had to) with 700+ credit scores six months after filing a bankruptcy!

Minimizing the damage of bankruptcy

Keeping your score as high as possible is important because lenders that approve home loans for people with bad credit left the building years ago, and those that approve mortgages after bankruptcy do impose minimum credit score requirements.

Read full post…

Tags: Bankruptcy, Bankruptcy Affect
No Comments

Debtor Forfeits IRA Exemption

Posted by Jim Karlson on June 20th, 2011

How to mess up a bankruptcy exemption. I happened upon a Florida bankruptcy case decided in 2010 wherein a court held that a debtor’s self-directed IRA was not exempt. The debtor’s had a securities account that clearly was titled as an IRA account. The IRS approved the securities account as a proper self-directed IRA account as to its form. The problem was that our debtor used his IRA money improperly and in violation of IRS rules for self-directed IRAs. The debtor borrowed money from the IRA, pledged his IRA account as security for a loan, and commingled IRA funds with his other money. The debtor’s misuse of the IRA disqualified the IRA under IRS regulations. Even though the IRS had not investigated or independently disqualified the IRA the bankruptcy court held that the money in this debtor’s IRA lost its exemption.

The court pointed out that a bankruptcy court may reach an independent decision regarding the qualification of a debtor’s IRA when the IRS had not considered the debtors abuse of plan assets or audited the IRA’s operations. A debtor ma

Read full post…

Tags: Exemption
No Comments

CPI Shows an Increase Is Inflation Set to Go Up?

Posted by Nancy Prew on June 20th, 2011

Even as the government advertises the low inflation rate as a positive development in the slowly recovering U.S. economy, the consumer price index has recorded the largest increase from the end of 2009. The Labor department recently released the CPI statistics that show a 0.2% increase that comes close on the heels of the 0.1% increase recorded in December 2009.

The Federal Reserve is still continuing with its many programs designed to instill consumer confidence and boost economic stability, in spite of the fact that increased inflation is usually associated with a recovering economy. While economists have stated that the inflation levels are not likely to drop any further, they are also being cautious about taking any stance indicating an economic turnaround.

It appears that they believe the price rise is too swift to be considered the beginning of a full fledged trend. Until more time has passed, it may not become clear exactly how prices will look in the coming months. However, many economists are terming the increase as the desired outcome of the many fiscal measures that the government put in place during the recession.

Read full post…

Tags: Inflation, Inflation Set
No Comments

School Board President files for chapter 7 bankruptcy

Posted by Oswald Goldstein on June 20th, 2011

Last week, Milwaukee Public School Board President Michael Bonds filed for chapter 7 bankruptcy.  Bonds said, “Filing for bankruptcy was a very difficult decision, but I had to do what was in the best interest of my family.”

Bonds told sources that he began to struggle financially after him and his wife experienced a 35 percent reduction in income in the last year.  Bonds’s salary as an associate professor at the University of Wisconsin-Milwaukee decreased by 7 percent over the last year due to furlough delays by the state.  Furthermore, Bonds’s wife’s salary dropped from $127,000 a year to $99,000 a year in a move from working as a high school principle to an elementary school principle.

Moreover, the couple lost tax deductions after their sons moved out of their house.  Lastly, Bonds noted that their home experienced a drop in value.  The MPS Board President listed $242,490 in assets and $331,375 in liabilities.

Tags: Bankruptcy, Board President, School Board, School Board President
No Comments

Improve Credit Scores After Bankruptcy

Posted by Jim Karlson on June 18th, 2011

I just returned from a workshop held by Fico Certified Credit Professional Rondi Lambeth, owner of Fortress Credit Pro where I gained some great information I want to pass along to you here. He cleverly coins the name of his workshops as, Fico Score Up Yours!  The negative connotation of sticking it to Fico always makes me giggle.  So, you want to know how to improve your credit score after bankruptcy?  I have great news. If you go to Rondi’s website, you can pay $50.00 for him to audit your credit report and point out all the errors. He will tell you himself that you can do this on your own and don’t need to hire him, but if you do, he will have you sign a statement that you knew this and requested his services anyway. 

Here’s the myth I outlined last year in, Filing Bankruptcy Will Ruin My Credit. Rondi says that he can actually achieve greater results, much faster for those who have filed bankruptcy. Usually in about 90 days you can have good credit again. In

Read full post…

Tags: Credit, Credit Scores
No Comments

Preparing to File Bankruptcy

Posted by Oswald Goldstein on June 17th, 2011

Preparing to file bankruptcy is about as fun as preparing for a tax audit. Fortunately, the preparation is the most difficulty part of the bankruptcy process, and the end result of your bankruptcy case is financial relief, rather than a potential tax bill. To get you started on the right track, here are four tips for preparing to file bankruptcy:

Stop Using Credit Cards If you are considering bankruptcy, you are likely already insolvent. Using credit when you cannot repay the creditor may be fraudulent. Your credit card charges may be found nondischargeable in bankruptcy, or, at worst, you could be charged with a criminal act. The safest advice is to stop charging immediately.

Assemble Important Documents You will need to verify your identity and social security number with the court, usually in the form of a government issued photo I.D. and a Social Security Card.

Read full post…

Tags: Bankruptcy, File Bankruptcy
No Comments
Page 19 of 52« First...10...1718192021...304050...Last »