Over at Free Money Finance, a personal finance blog I read regularly, a post that made me look twice – Americans are literally giving away nearly $1 billion every single year because they’re not itemizing their taxes. The article originated from a bit of news from Money Central on the subject. The Money Central article [...]
February 2007
The bankruptcy means test is widely thought to involve just looking at the amount of the debtor’s income. In fact, it’s a three part test; you could say that the first part is true or false; the second part multiple choice; and the third part is essay. Most people don’t have to go beyond the [...]
Cathy Moran recently discussed business debts in bankruptcy in her post entitled Bankruptcy & Small Business, but what if you have incorporated your business? Can a bankruptcy trustee take your business if you file a Chapter 7 Bankruptcy? After all, you went to the trouble of incorporating because it created a separate entity, and you [...]
You Are Pre-Approved: 8 Billion Times—written by Harvard Law School Professor Elizabeth Warren—talks about the explosion of pre-approved credit card solicitations that are being sent out since the passage of BAPCPA, the sweeping changes to the Bankruptcy Code that took effect in 2005. In 2006, credit card companies mailed out 8 Billion credit card solicitations, [...]
Until two years ago, I never heard the term debt relief agency. Now, I see it on letterheads, in yellow page ads, on websites and even on business cards. It is becoming ubiquitous as the morning dew.  What gives? The statutory definition of debt relief agency can be found at Title 11 U.S.C. 101(12A) [...]
Getting ready to file bankruptcy? Listed all your assets, have you? Worried about that bank account you are holding for your 8 year old child filled with money that came from your mom? I hope that bank account was opened the right way. So what is the right way? You are allow to keep certain [...]
