Right now, somebody else could be using your hard-earned money to buy a pair of Gucci sunglasses; except you have no idea. Thats what happened to one man whose tax refund debit card was stolen. The Naples News reports that the perpetrator was charged with 19 counts of identity theft for having numerous credit and debit cards that were not in his name.
While we love to see an alleged criminal come to justice, this thief was only caught because of a store clerk asking for identification. He had already spent thousands of dollars on miscellaneous merchandise – thousands of dollars that did not belong to him.
Identity theft is a serious problem, and one that can cause trouble for your credit scores. Being proactive is one of the best ways to keep Billy BadScore at bay when somebody has their hands on your financial information. Keep the phone numbers you need to cancel cards in a safe place so you can easily access them if your wallet is misplaced or stolen. The number on the back of the card wont help very much if you dont have the card. A
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Card, Debit Card
The law is full of jargon and legal language and in time that language can become confusing. In today’s post, we clear the air on the term ‘bankruptcy estate’. Under bankruptcy law, you finances are divided into various areas; for example, income, expenses, creditors (and even debtors that owe you money), and assets. The term ‘bankruptcy estate’ refers to your assets and your income. While that sounds straightforward, in practice it isn’t.
You can divide a bankruptcy estate into various components. These are:
- Property of a Bankruptcy Estate
- Income of a Bankruptcy Estate
- Liabilities of a Bankruptcy Estate
The property of a bankruptcy estate includes all the assets a debtor owns, or has an interest in. If a debtor holds a half share in a house, for example, that half share is included in the bankruptcy estate. Your bankruptcy estate can also include future assets such as an inheritance that will be received in the six month period following the filing of a petition.
The income of a bankruptcy estate includes all income received. This also in
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Bankruptcy Estate, Estate
One of the fears that some debtors have is the loss of assets when they file for bankruptcy. The first point that should be made is that assets are only seized when a petitioners files under a Chapter 7 bankruptcy. The second point to make note of is that, through exemptions, many (if not all) assets can be retained. The final point I want to make – sometimes the sale of an asset is a good thing, not a negative.
How’s that you say? Let’s assume you have a $50,000 car and you are well behind on quite large monthly payments. Let’s also assume you now have $25,000 in equity in that car. In a forced sale, the trustee may only receive $40,000 and $25,000 of that goes to the lender that holds the note on the car. This leaves you with $15,000.
Unfortunately, that $15,000 is not yours. However, you may be able to claim an exemption on some of that value. Each state differs in the value available and some states have a wild card exemption that could be applied. Assuming a mid-range exemption, you could receive a check for $6,000 – more than enough to buy an inexpensive car to replace your current expensive anchor car. What’s more
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Bankruptcy, Bankruptcy Sale
When a business or consumer needs to file for bankruptcy, theyre often wondering: how much does bankruptcy cost?
This shouldnt come as a big surprise. After all, those facing financial hardship are counting every penny and relatively high attorneys fees to get out of debt can seem like a tough pill to swallow. It can be tempting to consider filing what is called a pro se bankruptcy. Pro se simply means filing on your own, without a bankruptcy lawyer.
Although there are a great many things that can go wrong when a consumer attempts to file bankruptcy without a lawyer, It is possible. So, how much money will be saved by attempting a pro se bankruptcy?
Well, first of all, chapter 7 fees vary by region of the country. This post will provide an overview based on rough estimates, but each city and lawyer will be a little different. So, with that out of the way, lets say that the average chapter 7 fee in most major cities is $1,250.00 plus a filing fee of $299. Based on these figures, filing bankruptcy without a lawyer can save you over $1,000.00 dollars.
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Bankruptcy, Bankruptcy Lawyer
If you are struggling with debt and high interest credit cards and you’ve become ill with stress on your debts and bills, then debt consolidation services can be your life savior. Have you ever thought how credit card debt consolidation works? This information will help you find the answer.
First of all, let’s consider the entire debt problem. There is such a thing as good debt, but there is also bad debt. Good debt is a mortgage or car loan, the amount for something you need and you can afford, without many problems. These loans are generally with lower interest and guarantees are attached to them.
Bad debt includes credit cards, unsecured loans, second mortgages, and nothing else, with high interest rates. The credit card debt is the worst because it is renewable and very difficult to pay. This is the type of debt you need to know how to handle or you can become much stressed.
People often worry if the debt consolidation can work properly. Stop worrying, it is very effective, but only if done properly. Usi Read more…
debt consolidation services
When a debtor is underwater, they will often try a number of avenues before facing bankruptcy. Sometimes, those avenues work and the debtor is saved from the perceived loss of face through bankruptcy. Some of the methods used do come with side effects that debtors need to be aware of. They also need to be aware of how bankruptcy would have dealt with those same issues.
Debt settlement is an option we have discussed a few times, and while it can help debtors out, it can also deliver a real tax whack at the end of the year. Debt settlement is a process where you agree to pay a large part of the debt up front, and the creditor then ‘forgives’ the balance of the debt. Effectively, you are receiving a discount on your debt.
These can be significant as well. It’s not unheard of for a lender to accept $5,000 on a $20,000 credit card debt. From the creditor’s perspective, $5,000 is better than zilch, which is what they may receive through bankruptcy. He’s the rub, however – the creditor will take a tax write down of $15,000, and to do that, they need to inform the IRS of the details, including your details. From the IRS’
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Bankruptcy, Bankruptcy Deliver