If you are a fan of the Coldwater Creek clothing line, you probably have already hit your local store to stock up on your favorite items before the doors close for good. Creditors may have been stumped as to why sales at the bankrupt store surged after it filed for bankruptcy; however, anyone who loves the clothing line knows why - - shoppers fear losing a great supplier of clothing targeted to professional women. For many customers, this is a last chance to get items they love before the … [Read more...]
Why are you waiting too long to buy a home?
May 29, 2014 by
Buying a home is a very serious decision and many of us take months if not years to plan and save to buy our first home. However, if you wait too long you may pay more for your home. Once you decide to buy a home, the process of searching for the perfect home could take many months - - this simply adds more time that you are waiting to buy a home. Mortgage experts believe that it is the best time to buy a home. For five reasons why you should buy a home right now read, “Waiting to buy a … [Read more...]
Should you file bankruptcy – – what is the best solution to your debt problems?
May 28, 2014 by
Because each person’s financial situation is different, the answer to this question will vary for each person. Your bankruptcy attorney will ask you several questions that will help determine if filing a bankruptcy is the best solution to your debt problem. Your bankruptcy attorney will also advise you which chapter of bankruptcy you are qualified to file and the benefits associated with filing a Chapter 7 bankruptcy verses a Chapter 13 bankruptcy. Having an experienced bankruptcy attorney … [Read more...]
Do you drive your realtor nuts?
May 27, 2014 by
We have all heard of “bridezillas,” right. However, what happens when a homebuyer becomes a “monster” - - they drive their real estate nuts. Realtors understand that the process of buying a home can be frustrating and overwhelming. Realtors are very good at keeping homebuyers calm and focused; however, there are things that their clients do that drive them nuts such as requesting repeated showings for an entire group of people but never making an offer. On the other hand, some clients make … [Read more...]
Can bankruptcy trustees sell rent-stabilized leases?
May 23, 2014 by
What seemed like a very simple bankruptcy case has become a complicated argument over rent-stabilized leases in bankruptcy. The bankruptcy trustee argues that the lease is an asset of the bankruptcy estate and may be sold to pay off the debtor’s creditors. However, the attorney for the debtor argues that the lease is protected by state exemption laws as a social service. The question has been referred to the state’s Court of Appeals and the fate of where a 79-year old widow will live is … [Read more...]
Detroit retirees vote on Detroit bankruptcy plan
May 22, 2014 by
About 30,000 Detroit retirees are among the 110,000 creditors that will vote on Detroit’s proposed bankruptcy plan. This is as legislators prepare to vote on a proposed state contribution to help Detroit settle its debt. The legislation has heavy opposition and some retirees believe that none of the options provided on the customized ballot are remotely satisfactory. The ballots are due by July 11 and no one really knows what direction the votes may take as creditors and other interested … [Read more...]
How long will it be before I can buy a car after bankruptcy?
May 20, 2014 by
Some debtors are concerned that they will not be able to purchase a car after filing Chapter 7 bankruptcy; however, it is much easier now to do that than in years past. While you should not buy a car until after your bankruptcy is completed and the case has been closed, purchasing a car after your bankruptcy case is closed is now a good possibility. Because of a variety of reasons (i.e. car lots have more cars in inventory, people are keeping their cars longer creating less demand, lenders are … [Read more...]
New hope for writing off student loan debt!
May 20, 2014 by
As thousands of college graduates enter the workforce this May and June burdened with heavy student loan debt, there is new hope that they may be able to write-off student loan debt under certain circumstances. Seven members of Congress are asking for “undue hardship” guidelines that would allow some individuals to discharge federal student loans through the filing of a bankruptcy. By defining what constitutes “undue hardship,” more individuals may be allowed to discharge student loans when … [Read more...]
Do you know want lenders want in a good applicant?
May 16, 2014 by
If you are ready to purchase a home or even refinance your current mortgage, knowing what a lender looks at in an applicant can help you be prepared for the mortgage application process. There are three elements that a lender reviews in order to determine if you are a worthy candidate – your credit history, capacity and collateral. These three elements all combine to tell the lender if you are a good credit risk. For more information read, “Three must-haves when applying for a home … [Read more...]
How to you handle filing tax returns when you divorce?
May 15, 2014 by
Ending your marriage is stressful and emotional; however, ending up in tax court because you and your spouse both claimed your children on separate tax returns only rubs salt into the wound. Filing tax returns for the year your divorce can be complicated, especially when there are children involved and you itemize expenses. Communication seems to be the number one lesson that other couples can learn from this couple’s mistake. For more lessons read, “IRS Case Offers Joint Tax Return Lessons … [Read more...]
