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If you have completed your bankruptcy case or if you are just entering the bankruptcy process, you may be wondering when and how you will ever be able to regain control over your finances when your bankruptcy case is closed.  U.S. News has published an article with 25 ways that you can overhaul, improve and gain more control of your finances in 2014.  Some of the best ideas include using Web-based tools that help you track, control and manage your money rather that it managing you. Another is … [Read more...]

It appears that the 92-year old discount clothing company will finally give up the retail ghost as it prepares to wind down and liquidate its assets.  The company filed its third bankruptcy case last week under Chapter 11 so that it could have time to pursue “a wind-down and liquidation process” through the bankruptcy courts.  The retailer tried to sell itself as an ongoing business concern last month but none of the 39 prospective buyers were interested.  A bankruptcy auction will be scheduled … [Read more...]

If you are searching for a home to purchase, you are probably already working with a lender or mortgage company to obtain pre-approval for a home loan (if not, you should be).  You will be asking your loan officer many questions; however, some questions are more important than others are.  You should always ask about the annual percentage rate you will pay and whether or not your mortgage payments will include an escrow account for taxes and insurance.  Another important question to ask is … [Read more...]

If you received notice that you were being relocated in the New Year, you may be thinking how you will find a new home so far away.  The internet is an extremely useful tool for helping buyers find a home in a new city.  You can research homes for sale in the area, school districts and other useful information about your new city.  You can also research realtors through Angie’s List and check websites before hiring a realtor.  If you have a short list, plan a quick trip to look at each … [Read more...]

Before deciding whether to purchase a new health insurance plan under the Affordable Healthcare Act or to keep your current insurance plan, you should compare several factors to determine which choice is in your best interest.  First, compare the monthly premiums. The premiums in the Marketplace vary and you may qualify for premium assistance if you choose a new policy.  Second, compare your out-of-pocket expenses under you current plan to those under a new Marketplace plan.  These costs will … [Read more...]

A new study by Avvo.com shows that 32% of the people in the study claimed credit card debt as the reason they filed bankruptcy.  Only 12% claimed bankruptcy was due to job loss and 13% claimed filing bankruptcy was because of home foreclosure.  A problem with carrying credit card debt is that interest, late fees and penalties will quickly increase the balance owed if the consumer fails to make the payments on time.  This results in a debt that is almost impossible to pay off within a reasonable … [Read more...]

If realtors were honest, they have seen it all during their careers.  Homeowners desperate to sell their home who refuse to get rid of the ugly lamp that great-great-someone gave them or those who refuse to make their beds.  A good realtor will tell homeowners what they should do in order to get their house sold even if the homeowner may not like the advice.  For example, lower the sales price just under the market to grab a buyer who may be on the fence or it does really matter how the house … [Read more...]

With the new definition of a qualified mortgage and new restrictions on lenders taking effect in January, buyers looking to purchase a home in 2014 should begin now making sure they meet the standards for a qualified mortgage.  Some of the changes include limiting mortgages to 30-year terms, capping points and fees at no more than 3% of the loan balance and eliminating negative amortization and interest-only payments.  In light of these changes, some borrowers who may qualify now may not next … [Read more...]

Even during the holidays, debt collectors do not take a break from harassing consumers.  The job of a debt collector is to bother or “harass” someone until the debt collector succeeds in getting a payment of some amount from that person.  They will call, write and some even show up on your doorstep.  Consumers must remember they have rights when it comes to debt collectors.  For example, you have the right to dispute the debt and you have the right to ask for verification of the debt.  Late … [Read more...]

If you are planning to travel during the holidays, you may want to take a few minutes to make sure that you protect yourself from legal troubles during your trip.  If you are driving, you should know the laws about cell phone use while driving if traveling through different states.  You may also need to check on laws governing firearms if you plan to carry a gun in your car across state lines because most states have very specific laws with regard to how guns can be transported. For more … [Read more...]