Bankruptcy Articles and Information
If you are buried in debt and feel like it will be impossible for you to ever dig your way out, filing for bankruptcy may the answer. The purpose of the law is to provide people who have fallen deeply in debt to have a fresh financial start in life. The reasons for needing to file for bankruptcy are not important.
There are different types of bankruptcy. The main ones used by individuals are Chapter 7 and Chapter 13. Each one serves a different purpose and has its own set of filing and discharge rules. No matter which chapter you use, on the day you file your bankruptcy petition, all debt collection by all creditors must immediately stop. A bankruptcy attorney will evaluate your financial situation and the type of debt you have and help you decide which bankruptcy chapter is the one that best meets your needs.
Many Americans hope for higher pay as they progress through their working years. At what point is higher pay not enough to stay at a job? Abigail Hess of CNBC brings light to a new trend amongst working-age Americans. Committing to Your Commute Commute seems to be the leading cause for Americans to quit their job. A recent survey from the Bureau of Labor Statistics reveals that 2.3 percent of the workforce quit their job in October. Although it can be a smart move to quit a current job to get a higher paying job, the benefits of the additional money…Read More
Unfortunately, data thieves don’t take a break during the Holidays. In fact, that is when they increase in bogus email schemes that seek to steal your hard-earned money or personal information. Believe it or not, the most common way for cybercriminals to steal money, bank account information, passwords, credit cards, and Social Security numbers is to simply ask for them. Every day, people fall victim to phishing scams or phone scams that cost them their time and their hard earned cash. How to Protect Yourself From Phishing and Email Scams Here are a few steps you can take to protect…Read More
It seems like every time I watch the news; every single story is negative or sad in some way. I don’t know about you but when I wake up in the morning the last I want to hear is a ton of negative news to start my day. Fortunately, in the past week, there have been a few stories highlighting some random acts of kindness. Paid-Off Walmart Layaway Balances Some of those random acts of kindness include Tyler Perry and Kid Rock paying off layaway balances for three Walmart stores. Tyler Perry paid off balances for two Walmart stores in…Read More
Over the last 10 or so years, we have seen a decline in the real estate market. It does seem to be improving a bit of late, however, many people have come to us for help because their home or other real estate has little or no equity and has become too burdensome to maintain and afford, particularly those folks with adjustable rate notes! What Happens When You Purchase Real Estate? Before we talk about what actually happens to real estate that someone surrenders in bankruptcy, let’s go back to what happens when you purchase real estate. When you purchase…Read More
With Thanksgiving over and Christmas just around the corner, it’s time for many Americans to start thinking about holiday shopping. The holidays are a time to gather with friends and family and enjoy great food, relax by the fire, and hopefully exchange a few gifts. What Do the Statistics Say? Unfortunately for many Americans, the gifts purchased for their loved ones will put them in debt to the tune of about a thousand dollars on average. Around 75% of American shoppers will use credit cards to pay for some portion of their holiday spending. To make matters more challenging, about…Read More
As we all know, the holiday season can be one of the most stressful times of the year. The added pressure of trying to buy gifts for family and friends can push an already strained budget to the breaking point. With the tax filing season fast approaching, it can be tempting to consider taking out a tax refund loan, but there are some important points to keep in mind. What is a Refund Anticipation Loan? These types of loans have become increasingly popular and are offered by several of the nationally known tax preparing agencies. They promise to get your…Read More
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. 2. Make a Shopping List. Make a list of everyone you need to buy gifts for. It is okay to trim this list to just immediate family or close friends. 3. Plan Your Spending Around Your List. After…Read More
Working as a secret shopper, being paid to have your car wrapped with a company logo, and winning the lottery all have one thing in common—they are all tactics scammers are using to try to steal your hard-earned money. Although overall FTC fraud complaints have declined slightly since 2016, from 2.98 to 2.68 million, Alabama is ranked 8th in the country for fraud reports per capita. A check-cashing scam is a major part of this problem. The scams have been increasing in complexity. Even though they are typically run by people living overseas, scammers have gone a step further and…Read More
We have all dreamed of hitting the Power Ball and thought of all the ways we would use the money IF we won. We’d pay off our debt, go on elaborate vacations, and buy a new house and cars. However, lottery and sweepstakes scams rank among the most common consumer frauds. I do not encourage “gambling” when you are struggling to get out of debt by any means. But if you do, beware of fraudsters out to take advantage of any win-fall you may come into if you were to suddenly win proceeds from a lottery or sweepstakes. Along with…Read More
What is an Unexplained Wealth Order (UWO)? On November 6, 2018, Zamira Hajiyeva, the wife of jailed banker Jahangir Hajiyev was charged under the United Kingdom’s first Unexplained Wealth Order (UWO). UWO’s area new crime-fighting provision that was introduced in the UK earlier this year as part of their Criminal Finances Act 2017. The logic behind UWO’s is to help stem the flow of large sums of illegal money flooding London. What is The Principle of Reverse Onus? UWOs use a very uncommon principle of law known as Reverse Onus. This concept essentially requires the accused to prove they are…Read More