Blog Posts in December, 2011

2011 Top 10 biggest price hikes!

1. Fuel Oil +33.4% 2. Gasoline (all types) +33.3% 3. Other Motor Fuels+31.2% 4. Potatoes +16.2% 5.Coffee+16% 6. Apples+14.6% 7. Butter/ Margarine +13.9% 8. Delivery Services +13.5% 9. Milk +13.1% 10. ...
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Protecting Your Home-California Bankruptcy Homestead Exemptions

Many people who are considering filing for bankruptcy have concerns about how the bankruptcy will affect the equity in your house. How the bankruptcy affects your house depends on which Chapter you ...
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Organizing Your Financial Records

Throughout the course of the year you probably receive numerous financial statements, many of which are probably living in a large pile of papers. It is important to keep your financial records ...
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Quick Guide to Financial Management

There are many simple things you can do to start managing your finances. Most people do not have the time to sit down to examine their money situation. However, here are a few ideas anyone can do to ...
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Rapper Young Buck may lose his name in his Bankruptcy

Rapper Young Buck, whose real name is David Darnell Brown recently had his Chapter 11 bankruptcy converted to a Chapter 7 bankruptcy. As a result, Young Buck can possibly lose his ability to keep ...
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Debts Not Dischargeable Through Bankruptcy

Generally a Chapter 7 Bankruptcy will eliminate all of your unsecured debt which can include credit cards, medical bills, and judgments against you. However, certain debts are not dischargeable and ...
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Getting Control of Your Finances-Making a Budget

The first step to saving money is to create a monthly budget of your personal income and personal expenses. Having a budget will stop you from overspending and making impulsive purchases. By sticking ...
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Planning for Bankruptcy During the Holidays

Christmas is expensive. With the holiday season is full swing, many people are feeling the pressure of buying gifts and wanting to to give to others. However, if you are considering filing for ...
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How to Value Your Assets for Bankruptcy

When you file for bankruptcy you must list all your assets which can include a home, vehicles and other personal property. When you list your assets you must also list the value of your assets. This ...
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Preparing for divorce with your credit-Kobe Bryant & Vanessa Bryant

If the possiblily of divorce becomes a reality, you'll want to ratchet up your credit-protection action. At this point, separting your financial services to your best ability is important. 5 ...
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SEC Files Charges Against Former Fannie Mae & Freddie Mac Execs

The Securities and Exchange Commission has filed charges against 6 former executives of Fannie Mae and Freddie Mac, claiming that they knowingly misrepresented facts regarding their high-risk home ...
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Can I File for Bankruptcy and Keep My Personal Injury Award?

Yes. When you file for bankruptcy you can claim certain things (i.e. awards from personal injury suits) as "exempt" and thereby keep them. California gives debtors a choice between the state ...
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What Are Your Options When You Owe the IRS?

When you owe the IRS and can afford to pay your tax debt, then you must pay your tax debt. However, when you cannot afford to pay the tax debt you have other options available. These options include: ...
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Getting Your Credit Report

It is important to review your credit report on a regular basis and make sure that the information in them is accurate. Under the Federal Fair and Accurate Credit Transactions Act (FACT), every person ...
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What do I have to Report as Income for Bankruptcy

When you file for bankruptcy, you must list your income on Schedule I, Form 22, and Statement of Affairs. Many people have questions about what exactly must be listed as income. Income may consist of ...
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Vulnerable Assets to Debt Collection

Let's say you have been sued by a creditor (i.e. a credit card company) and have lost that lawsuit or a default judgment has been entered against you. The creditor now has multiple ways to enforce ...
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Late on my mortgage payment?

An overdue mortgage payment is truly a different animal from other types of overdue debts. The rules for mortgages are very different because the debt is secured by a type of collateral, usually your ...
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Can I File for Bankruptcy and Keep My Wrongful Death Proceeds?

Yes. When you file for bankruptcy you can claim certain things i.e. proceeds from personal injury and wrongful death awards as "exempt" and keep them. California gives debtors a choice ...
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What Is an Offer In Compromise with the IRS?

Offers in Compromise (OIC) are can be found in Internal Revenue Code section 7122. According to the IRS, an Offer in Compromise allows you to settle your tax debt for less than the full amount you ...
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How to Avoid Financial Problems

After filing for bankruptcy it is important that you take measures to rebuild your credit score. After receiving a discharge of your debts through bankruptcy, most people can have their credit scores ...
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What happens with property I acquire after I have already filed for bankruptcy?

Generally, property that you receive or acquire after you file for bankruptcy is not included in your bankruptcy estate and is yours to keep. However, there are certain items that you must report to ...
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What is a Short Sale?

When you owe more than your home is worth, your lender may be willing to accept the amount your home will sell for to satisfy the loan. It can be a less expensive alternative for the lender than to do ...
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Can I file for Bankruptcy and Keep my Life Insurance?

Yes. When you file for bankruptcy you can claim certain assets i.e. life insurance as "exempt" and keep those assets. California gives debtors a choice between the state law exemptions found ...
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