Personal Finance

26 Sep Bankruptcy and Identity Theft: Protect Your Confidential Data

Bankruptcy and identity theft? How can this be an issue if someone is discharging debt? There are debtors who file for bankruptcy protection due to someone having stolen their identity. There are bankruptcy debtors whose identity is stolen and the thief files for bankruptcy. Then, there are those folks who worry about their identity being stolen while in bankruptcy due to creditor's who treat confidential information casually. When creditors release confidential data in public records, identity theft risk increases dramatically. What can the average person do to protect themselves, whether in or out of bankruptcy court?

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25 Aug Get Your Own Economic Stimulus – Through Bankruptcy

The U.S. economy needs a stimulus. Many American households would be better served by filing bankruptcy to free-up some income to support their family, rather than waiting for Congress or the banks to help move us forward. It doesn't sound right, does it? You file bankruptcy to help the economy? But right now, President Obama is pursuing a continuation of a payroll tax cut which works out to approx. 2% from the average person's paycheck. That's roughly $1,000 a year of extra income left in the median household's paycheck. Nothing to sneeze at of course. And in middle and lower income families, that money will be spent to help keep everyone afloat -- stimulating the economy! But I can do better than the President for quite a few of those families. The median family currently spends twice that much in consumer, non-mortgage debt service. So the median household's bankruptcy filing, all other things being equal, has a decent chance of freeing up even more money each day and each year than the payroll tax holiday will. Instead of spending several more years living on the edge while you try to payoff the credit cards and payday loans, just get rid of them.
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24 Aug Foreclosed Homes Bulldozed by Bank Of America, Wells Fargo, and Chase

Stephen Gandel, senior writerover at Time Magazine, discussed the recent news from Bank of America of BOA's plans to donate lots after bulldozing 100 foreclosed Cleveland homes. The lots will be donated to local government authorities. That donation adds to earlier donations of...

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27 Jul At-Will Contracts Are Not Executory Contracts

Executory contracts get special treatment in bankruptcy. They are roughly defined as a contract where both parties still have to perform - think lease - unlike a loan where the lender's obligations ended when the loan was made. Executory contracts need to be listed in Schedule...

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