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If you filed for an extension on your tax returns, be warned that they are still due by the deadline. The IRS issued a notice that the October 15 deadline still remains for taxpayers who received an extension regardless of the fact that the government is still in a partial shutdown.  Even though you must file your tax returns and pay any taxes due, do not expect a tax refund any time soon.  Tax refunds will be delayed due to the shutdown. For more read the entire story at, “Got an extension … [Read more...]

Because Americans rely on debit cards more each day as their payment of choice, more and more people are finding themselves the victims of debit card fraud.  If you have been a victim of debit card fraud, you already know how stressful and frustrating it can be.  If not, then you should take steps to protect yourself from becoming a victim.  You can sign up for fraud alerts to minimize the amount of time a thief has to use your card.  If there are fraudulent charges, report them immediately and … [Read more...]

Even though the IRS may be closed due to the government shutdown, you can work on decreasing your 2013 tax obligation by taking advantage of some end-of-the-year deadlines now.  For example, max out your retirement accounts by increasing contributions to your IRA.  Look for one-time tax incentives or creditors such as purchasing energy-efficient products for tax credits.  Contribute to your child’s college savings account if you have not done so for the year.  You should also spend some time … [Read more...]

As the government shutdown continues day after day, the effects of the shutdown are beginning to reach further than the streets of Washington, DC.  All around the country people are beginning to feel the rippling effects of the shutdown including the mortgage market.  If the shutdown persists, lenders may lower mortgage rates even further to attract more business; however, with key government offices closed, closing on that low-interest mortgage may not be possible. Lenders cannot verify income … [Read more...]

What if you could take your potential new home for a “test drive” before you sign on the dotted line?  This is what some potential sellers are allowing serious buyers to do in order to make the sale.  According to one New York realtor, it is a trend that is growing in several cities.  The “try before you buy” option allows serious buyers to stay in the home for a day or over night to get a better idea if this is their dream home. For more about this new real estate trend read, “Quirky Trend … [Read more...]

Experiencing financial trouble is stressful enough without creditors threatening wage garnishments.  In some states, creditors may be able to garnish your wages for certain types of debt.  Most people want to avoid wage garnishments at all costs.  Staying in touch with your creditors may help put wage garnishments off for a while but not forever.  If you cannot afford to pay off the debt in full, you may want to consider filing for bankruptcy relief to stop wage garnishments. For more about … [Read more...]

If you are working hard to rebuild your credit score after a bankruptcy, you already understand that having a good credit score can save you money.  You should review your credit report annually to check for mistakes that could lower your credit score.  Understanding what factors go into calculating your credit score can also help you maintain a good credit score.  For example, your payment history counts for 35% of your score so a few late payments can lower your credit score quickly. For … [Read more...]

Bank of America has been ordered to pay $10,000 per month for every month that it harassed a couple in an attempt to collect a debt that was discharged in their Chapter 7 bankruptcy case.  Bankruptcy Judge Robert Drain stated that this was not a mistake but a policy of sending letters and calling the debtors repeatedly in an attempt to collect a debt that was already discharged.  This is not Bank of America’s first problem in bankruptcy court.  There are several other instances of Bank of … [Read more...]

Even though some federal employees may be returning to work, many are still facing financial uncertainty as the government shutdown continues into a second week.  Some employees have openly stated they will face bankruptcy if the shutdown continues while others are simply trying to survive financially.  GreenPath Debt Solutions put together some tips to help those struggling with personal finances.  The steps are useful for anyone struggling financially as it reminds us that we need to set up … [Read more...]

Buying a home is a huge financial step.  It can also be a long, complicated process.  Because there are so many steps involved, there are many chances to make a mistake.  The first mistake a homebuyer can make is thinking they can always negotiate for a lower price.  While this works sometimes, it is less likely to work in the competitive market we have today.  It is better to make your best offer right from the start.  If the seller is truly motivated, he or she will accept the offer. For … [Read more...]