The results of a recent study released by Professors Robert Lawless and Jennifer K. Robbennolt of the University of Illinois Law School seems to suggest that people who file for bankruptcy would fare greater chance of success if they would apologize for getting into debt. Really? I mean really. What this study suggest is wrong on
So it’s tax season time again. After the end of January, everyone gets their tax papers and receipts together and attempts to get their tax refunds. And so also, anyone who has defaulted in any debt in the last year needs to watch out for some traps. The first is the concept of ‘charge-off‘. Street knowledge
When you are in financial stress, it is hard to think of anything but dealing with the problem at hand. Human nature is to deal with the present before dealing with the future. After all tomorrow never comes, right? This is precisely when you should be thinking about the future most of all. By dealing only
Last week, we covered the balance sheet – the net of your assets and liabilities. The next step of knowing where you are befoe you can fulfill a New Year’s Resolution is to know what your spending looks like. In fact, budget is not an accurate word, at least not yet. More importantly, is knowing
It’s New Year’s Resolution time and what better way to start your budget than to figure out where you are? Every good resolution requires knowing where your starting point is. So in the in the next few posts, we are going to analyze your finances, determine a good budget and make a plan to deal with
Welcome back. It’s been a long time and hopefully not so long again before more posts on this site. I am happy to announce that Jay Fleischman and I have started a new podcast project at Money Go Roundtable. You can listen online or subscribe via iTunes to play on your i-device at your convenience.
A friend of mine in New York City filed a bankruptcy for a musician. That musician learned so much from the process that he put it to music. Maybe you don’t like loud music, so turn the volume down on your computer and read the captions. This says it all: Leave It All Behind Leave
When the creditor who harassed you claims in Bankruptcy Court he didn’t mean to violate the automatic stay, the Bankruptcy Judge will side with you and award damges.
Soon after you file bankruptcy, you should expect new bills and phone calls from creditors to stop. Sometimes they don’t. Why? They hope you’ll pay them anyway…without consulting your attorney, and sometimes people in bankruptcy do this. Remember, once you file your petition, the court imposes an “automatic stay” against creditors. It stops all collection
You may have recently heard news about the Credit CARD Reform Act of 2009. It just went into effect on February 22, 2010 and is intended to provide various protections to consumers to combat the wily tricks of the credit card companies. Here’s a great cartoon video (which I saw posted on the Center for