kdavis's blog

Early in the pandemic, two safety nets emerged to protect Alabama renters. First, Governor Kay Ivey’s March executive order put a moratorium on most residential evictions until June 1. At the same time, federal law called a halt to residential evictions from properties that were federally subsidized or financed with federally-backed mortgages.

Many people wait too long to file bankruptcy. We have reported before that the average person who files for consumer bankruptcy has been struggling with debt for two to five years before making the decision. That’s a long time to live with financial stress, and often means a lot of hard-earned money down the drain in the form of interest and late fees. Delaying a bankruptcy filing can also have consequences such as foreclosure, wage garnishment and automobile repossession. 

If you are like many Americans, you may have been reading news reports of the country's improving economy and falling unemployment rates and wondering why you are still struggling financially. Of course, there are many factors at play, but one factor in particular is impacting tens of millions of Americans: low wages.

Whether you’re contemplating bankruptcy or have a bankruptcy in your past and are concerned about its impact on your credit, it can be very difficult to separate myth from fact. In part, that’s because both bankruptcy and credit management can be stressful, increasing the tendency to believe the worst-case scenario. In addition, much of the mythology surrounding bankruptcy and credit is partially true or has some basis in fact.

While every situation is different, here is some fact-based information about bankruptcy and credit to help dispel the myths.

As bankruptcy rates among American farmers continue to rise, a bill was recently introduced in the Senate that would make some changes to Chapter 12 of the U.S. Bankruptcy Code.  The Family Farmer Relief Act of 2019 is designed with the intention to help family farmers reorganize after falling on hard times.

This month, two completely different companies, Ditech Holding Corporation and Payless, Inc., filed Chapter 11 bankruptcies for the second time in as many years.  However, the purpose of the Chapter 11 filing is different for each company.

You might have heard about the doomed Fyre Fest that took place in early 2017.   The music festival was promoted by models and celebrities like Kendall Jenner and Bella Hadid.  These celebrities were paid by the festival promoters to promote it on their social media.

Christmas time is here again, and with that comes the stresses of gift giving.  Getting wrapped up in the season makes it easy to overspend.  I put together Christmas shopping tips to help with shopping on a budget!

1. Set a Spending Limit.

Take a look at your finances and figure out exactly the amount you are going to spend in all.

The Internal Revenue Service announced this month that the employee contribution limit for 401(k) and other workplace retirement plans will increase next year.  The current contribution limit is $18,500 and the limit will increase to $19,000 in 2019.

Many people have no idea what their actual income and expenses are. A good budget can help you figure it out. Budgeting is especially important if you are trying to get rid of debt, trying to save for your family’s future, or just to make sure you are spending your hard earned money wisely.