Bankruptcy “Means Test” ins and outs

In order to file for a complete discharge in chapter 7 bankruptcy, it is necessary to first pass a means test, which determines whether there is a presumption of abuse, or no presumed abuse. The Means Test simply takes current income, subtracts certain out of pocket actual expenses including tax witholdings, health insurance costs, and … Continued

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The storm rages on

For most American families just struggling to get by these days, the storm of the past two years seems to be never ending. Many Americans are simply fed up– Fed up with big government, fed up with stimulus packages that haven’t seemed to trickle down to the people, and fed up with the spin on … Continued

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Filing For Bankruptcy is a Process. Reality Check: There is no I in Bankruptcy.

Reality Check: There’s no “I” in Bankruptcy
The fact is that filing for Chapter 7 Bankruptcy is less about the person and more about the process. Let me say it a different way- there is no “I” in Chapter 7 Bankruptcy

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Home Loan Modi ”fiction” Success Stories, De”climbing” Unemployment and Other Fairy Tales. Tired of Story Time with Obama? 57% of Americans Sure Are. Get the Facts and Take Action….

Just one letter can mask the truth as evidenced in the title of this article. Home Loan Modification has really turned out to be “modi-fiction”, a manufactured term that has very little basis in truth. If you take the “n” out of declining unemployment and substitute “mb” you will have the truth; unemployment is climbing … Continued

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Size Does Matter: When Big is a Bad Thing; Level of Debt to Income Formula Imposes Painful Penalties for Americans with High Levels of Credit Card Debt.

Remember when it was encouraged to borrow more and acquire additional credit cards? Consumers were told that having credit card debt was actually a “plus” as the monthly payments they made demonstrated the willingness to pay as well as established a history of responsible, timeliness. Almost everyone was approved for some type of extended credit … Continued

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Advice to “Small People” Impacted by the BP Gulf Oil Spill

I consider myself one of the “small people” that the leader of BP condescended to “ care about”. Raised with 6 other children on a teacher’s income, as a boy, I trimmed hedges and mowed lawns to buy tennis shoes. Later on, I worked fulltime, attended business school and law school in the evenings, and … Continued

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The Butterfly Effect: Environmental Crisis in Gulf Can Trigger Financial Crisis Across the United States

While watching the ongoing coverage of the BP Oil Spill in the Gulf, Americans residing in areas outside of the Gulf may naively assume that only those individuals residing and working in the affected geographical areas will be financially impacted. Not true. Many American wallets across the country will be pinched and feel the painful … Continued

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When You Lay Down with Credit Card Terminators You’ll Get A lot Worse Than Fleas

Consumers be warned- “credit card debt termination” scams are spreading like wildfire right now on the Internet. Individuals in financial crisis may be tempted and lured in by the false promises and bogus testimonials advertised on the web pages of these, only to find themselves in worse trouble and greater debt.

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For the Sandwich Generation, Mounting Debt is often a Main Ingredient

Sandwich Generation/ Baby Boomers are facing mounting debt caring for both previous and future generations. Traditional financial planning priniciples don’t apply due to weak economy, high unempoloyment and downsizing- relief is available from legitimate debt services providers such as licensed attorneys and non-profit organizations.

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