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 [...]

The rallying cry in Congress for bankruptcy reform two years ago was “needs-based relief”: only those who really needed bankruptcy would be permitted to file Chapter 7. The filter imposed for finding the needy was the means test.
The means test is widely thought to involve just looking at the debtor’s income. [...]

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, [...]

From North Carolina comes this heartbreaking story of the family of Lawrence Martin, age 8, who was mauled by a stray dog at his babysitter’s house. While Lawrence’s family did receive an insurance settlement for Lawrence’s severe injuries, that money is held in trust for him until he turns 18. In the meantime, Lawrence’s mom [...]

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, a [...]

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. [...]

Getting ready to file bankruptcy? Listed all your assets, have you? Worried about that bank account you are holding for your 8 year old filled with money that came from your mom? I hope that bank account was opened the right way.
So what is the right way? [...]

Section 365(p)(2) of the Bankruptcy Code now permits individual chapter 7 debtors to “assume” leases of personal property (like cars). Formerly, only the trustee could assume leases in Chapter 7. This has significance for debtors who lease a car and want to maintain the lease during and after a Chapter 7 case.  The process of [...]

Well, here’s a nice cheery thought to start your week: your local government may well be granting access over the Internet to documents containing:

Your Social Security number;
Your birthdate;
Your address;
Even more.

Shocking? The problem, as I see it, results from the interplay of state Freedom of Information Laws, coupled with growing awareness on the part of local [...]

Remember when former House Speaker Newt Gigrich gave us the “Contract With America” back in 1994?  According to a recent article written by Associated Press reporter, Stephen Ohlemacher, the welfare state in America is larger than ever, despite 11 years of federal “welfare to work” policies.