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I have a small business partnership with friend. We have funded the business with a credit card in my name only and the business. Sales have dropped off quite a bit over the last few years and we are planning on closing it. Problem is I need to file bankruptcy and have learned that [...]
Continue Reading →Are you achieving your financial goals? Are you saving enough for retirement such that you need not depend on social security? If not, you are not achieving your financial goals. Are you saving for your children’s college education? If not, you are not achieving your financial goals. Will you have enough for a house down [...]
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i just recieved a call that my taxes will taken next year because i did not claim a debt from 4 years ago in my agi for my taxes for 2008 im totally lost and no clue what to do if anything. they offerred me to settle but what does that mean and [...]
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I Have a Discove Card bill of about a $1000, My max. I have been unable to pay, because I have lost my job and am a full time student. What happens if I never pay them back? Is it true that after 7 years it will get wiped off my record?
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Ok, I admit, I am a fan of a few reality shows; I watch the Deadliest Catch. For the uninitiated, this show follows a handful of Alaskan crab fishing boats in the Bering Sea. The new season began Tuesday, it was sort-of like catching up with old friends (the Continue Reading →
For this post, I want to present a simple breakdown of the estimated costs of various debt solutions. When it comes to getting out of debt, the deceptively simple question is this; can you pay your debt? For many clients that end up in my office, the answer to that question is decided by their [...]
Continue Reading →Today is Easter and the middle of Passover. The overarching themes of each holiday has to do with remembering and honoring the past and preparing for the future (I apologize for the simplification, but this is a blog not an essay). Whatever your tradition, Spring is a time of reflection and rebirth; what better time [...]
Continue Reading →Judgment proof means that if a creditor sues you and gets a judgment against you, none of the actions the creditor could take to collect the debt—wage garnishment, seizure of assets, etc.—would work. Judgment proof is actually a misnomer, the idea of being judgment proof means that you are “collection proof.” Being collection proof means [...]
Continue Reading →I have been asked this question dozens of times by those clients currently behind on their mortgage or facing foreclosure. Of all the stresses families face today, this seems to be paramount. While there MAY be hope for your average consumer, we have yet to find an answer to this question, given what is currently [...]
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The Unforeseen Event; The Turkey And Thanksgiving; You And Bankruptcy.
Imagine you are a Turkey. For 1000 days the farmer comes out, provides you feed and water, and once per week cleans your pen. From the Turkey’s perspective, what do you think will happen tomorrow on day 1001? Unfortunately for the Turkey, day 1001 is Thanksgiving Day (this analogy borrowed from the eminent philosopher Bertrand [...]
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