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If you are contemplating filing for bankruptcy, you are probably already feeling stressed and anxious about your financial situation. The necessity of taking to a stranger about your financial hardship is not high on your list of desired experiences. However, if you take the time to find a good bankruptcy attorney, your bankruptcy process with go much smoother. A good bankruptcy attorney helps guide you through the process and protect as much of your assets and income as possible. For more … [Read more...]

It is common knowledge that if you have questionable or bad credit, it will be difficult, if not impossible, for you to qualify for a mortgage to purchase a new home. However, did you know that having bad credit could also affect your chances of getting that apartment that you want? Landlords are now seeking credit checks for potential tenants more than every before to protect their property and their investments. Landlords are looking for specific information when they request a credit … [Read more...]

With the real estate slowly improving, some investors are looking to carefully step back into the real estate market. Investing in real estate was a very popular investment option for many individuals prior to the crash of the real estate market. If you are thinking about investing in real estate, you should study up on landlord issues that you may face. For example, landlords may have deadlines to return security deposits once tenants vacate the unit and failing to abide by these state laws … [Read more...]

If you are one of the fortunate taxpayers who are getting a tax refund this year, you are probably already dreaming of ways to spend your refund. The average tax refund last year was approximately $3,000 - - a nice sum of money to spend. However, there are smart ways to spend your tax refund that will help you have a healthier financial future. Financial planners advise that you use your tax refund money for “needs” instead of “wants” and place at least one-half of the amount in a savings … [Read more...]

A recent Gallup Poll survey reveals that almost 60 percent of Americans agree that the money in the United states should be more evenly distributed throughout a larger group of individuals. The Gallup Poll has asked the same question each year since 1984. It also asks people how the US should accomplish this redistribution of wealth. This year, over 50 percent of respondents said that the rich should have to pay more in taxes. To be exact, the response was “heavy taxes on the rich.” To read … [Read more...]

When a person files for relief under Chapter 13 of the US Bankruptcy Code, he or she is indicating that they intend to reorganize their debt into a manageable plan. In order to qualify for a Chapter 13 bankruptcy, you must be an individual debtor (not a corporation or LLC) who has no more than $336,900 in unsecured debt. You must also complete a pre-bankruptcy credit counseling course and obtain a certificate as proof of your participation in the course. For more things you should know about … [Read more...]

MF Global was forced to file bankruptcy in 2011 in part as a result from the catastrophic financial loss incurred in 2008 as a result of a “rogue trading” incident involving Evan Brent Dooley. Dooley was convicted this week and sentenced to five years in federal prison for making unauthorized trades that violated the Commodity Exchange Act. In addition to prison, Dooley must pay $141 million in restitution to MF Global’s bankruptcy estate. For more details read, “Ex-MF Global trader gets 5 … [Read more...]

Claiming government investigations and changes in health care laws as the reason for its financial problems, The Scooter Store filed for protection under Chapter 11 of the U. S. Bankruptcy Code this week. The Scooter Store is famous for selling motorized scooters and wheelchairs to people who have limited mobility. Reporting far more debts than assets, The Scooter Store has been in trouble as it faced allegations of selling scooters to individuals who do not need them in order to bill Medicare … [Read more...]

Unfortunately, taxpayers in Illinois are not even making a small dent in the amount of money that the state owes to vendors. The payments owed to the state by taxpayers will first go to interest owed on the nearly $6 billion owed by the state. During the past 10 years, Illinois taxpayers have paid over $300 million in interest on overdue bills owed by the state. Increasing the date that interest accrues on unpaid bills by 30 days has helped but is not enough to stop the state from going … [Read more...]

Dealing with government agencies and the “red tape” involved is frustrating for business owners and individuals alike. The amount of paperwork required to accomplish anything with the government is staggering. However, the Internal Revenue Services tops all government agencies for paperwork. The IRS alone accounts for 75% of government paperwork or 6.7 billion annual hours to complete that paperwork. For more about how the IRS should reduce the paperwork read, “Go Simple.” … [Read more...]