Blog Posts in January, 2012

Will Filing For Bankruptcy Hurt My Chances of Getting An Apartment in the Future?

Many people who are considering filing for bankruptcy worry that they will not be able to rent an apartment if they file for bankruptcy. This is a common misconception about the effects of filing for ...
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What is a discharge in bankruptcy?

A bankruptcy discharge essentially means that you are no longer legally required to pay any of your debts that have been discharged. The discharge is a permanent court order that prohibits the ...
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Can I add debts that I forgot to include in my bankruptcy papers?

Yes! It's pretty easy to do...so long as your bankruptcy case is still open. You can amend your bankruptcy papers to include any debts that you forgot to include when you originally filed. ...
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What is a secured debt? What is an unsecured debt?

You have a secured debt when you pledge some asset (e.g. property or a vehicle) as collateral for your loan. The debt is secured against the collateral, which means that in the event that you do not ...
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Study Shows Black People Face Bias in Bankruptcy

A recent study of bankruptcy filings throughout the country show that black people are twice as more likely than white people to file for Chapter 13 bankruptcy, rather than Chapter 7 bankruptcy. It is ...
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What is the Role of the Bankruptcy Trustee?

The bankruptcy trustee is the person who represents the combined interests of your creditors during your bankruptcy case. The role of the trustee is generally to represent the creditors' ...
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2011 Job Report

2011 was a difficult year for individuals looking for jobs in most professions. Here is a list of industries that added the most jobs and lost the most jobs in 2011. Most Jobs Added: -Retail (discount ...
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Should I Buy a New or Used Car?

Believe it or not, now is a good time to buy a NEW car. This is because the price difference between new and used cars has sharply decreased in the past year. The price of new cars are up about 2%. ...
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Super Sports Agent Leigh Steinberg Files for Bankruptcy

Sports agent Leigh Steinberg has filed for Chapter 7 bankruptcy protection, right here in Santa Ana, California. Leigh Steinberg is a famous sports agent who was the real life inspiration for the ...
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California's "Wild Card" Bankruptcy Exemption

What do you do if you want to protect your property i.e. jewelry, car, etc. but their values exceed the exemptions you are allowed? Wouldn't it be nice if there were some "catch-all" or ...
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Can I File for Bankruptcy and Keep my Social Security Benefits?

Yes. When you file for bankruptcy you can claim certain things (i.e. social security benefits) as "exempt" and thereby keep them. California gives debtors a choice between the state law ...
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Hostess Files for Bankruptcy, However Twinkies Are Here to Stay!

Hostess Brands Inc. has recently filed for Chapter 11 bankruptcy protection, allowing the company to remain in business while restructuring its debts. It was reported that the company was having ...
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Credit Card Use Is On the Rise!

Until recently it was more common for people to use their debit card rather than their credit cards. However, this trends seems to be over as credit card usage has been increasing among consumers. ...
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Freddie Mac to Allow Unemployed to Skip Mortgage Payments For Up to a Year

In a new policy starting February 1, homeowners who lose their jobs will be able to skip payments on their loans backed by Freddie Mac for up to one year. This new policy is identical to one already ...
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2011 Financial Year in Review

Everyone knows that 2011 was a difficult year for all sorts of people from all walks of life. As the country still struggles through slow economic growth, lets take a look at how the year panned out ...
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Advantages to Refinancing Your Home Mortgage

Mortgage rates are currently at all time lows. If you have good credit and money to put towards your loan principal, you should consider refinancing your home from a 30-year mortgage to a 15-year ...
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Top 5 Remodel projects with highest return on your home for 2012!

1. New Entry Door (Steel). Average cost $1,200 2. Garage Door Replacement. Average cost $1,300 3. Minor Kitchen Remodel. Average cost $21,700 4. Deck Addition (Wood). Average cost $10,970 5. New ...
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