All About Credit Score

This personal bankruptcy story was posted on the internet in May of 2010 as a blog in a discussion on bankruptcy: “Due to loss of income (my husband is in construction and work has been very slow, even periods of no work), we have not made payments to credit cards, personal lines of credit, etc. Our total debt is $190,000. We have been issued a court summons from American Express, for $11,000 unpaid balance. Should we file bankruptcy?”

A good rule of thumb for determining if you are bankrupt is to ask yourself whether your current income is enough to pay your current living expenses, plus, is it enough to reduce all your current debts outstanding within a period of five years? If the answer is no, then you are probably bankrupt, and you need to consider looking into filing for bankruptcy protection. In Read full post…

Tags: Bankruptcy, Filing Bankruptcy

As anyone recovering from bankruptcy, trying to eliminate debt or otherwise reshaping their finances knows, shopping and buying new things can be a source of stress – after all, we all need stuff now and then (whether it’s a new part for a car, a new refrigerator or new shoes for our kids). But we shouldn’t have to worry that our purchase will turn into a nightmare if something goes wrong.

A recent post from WalletPop.com outlines what it calls a “Customer Bill of Rights,” which offers suggestions for what ordinary consumers should look for in their purchasing to make sure they won’t be scammed or led into a labyrinth of red tape should something malfunction.

Know What to Look for in a Company

Here’s a summary of how to better navigate your spending and buying experiences.

• Look for contact information. If a company doesn’t readily display contact information (with email addresses or phone numbers on a web site and actual representatives in a store), you may not want to shop there. After all, if

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Good creditor!

The Automatic Stay Stops Creditor Harassment

Creditors are like dogs, really mean dogs. They bark and bark and bark. Problem is that your creditors don’t respond to commands nearly as well as your dog. When you tell them to “SHUT UP”, they generally don’t comply, they just continue barking. Don’t you wish getting creditors off your back was as simple as training your pooch? Well, it can be.

Those who have been forced to file for bankruptcy due to overwhelming credit card debt, medical bills or the loss of a job are usually also being harassed by their creditors. While bankruptcy is an important life decision, not to be lightly entered into, it does afford tremendous protection from creditor harassment. The insta

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Tags: Now Stay, Stay

Excessive debt is suffocating; like a dark cloud in cartoons, debt hangs gloomily over your head and affects nearly every aspect of your life. Anytime you think the situation is under control, another bill arrives; like always, due to late fees, it’s double the amount you were anticipating.

You know you have to get your finances under control, but don’t know where to start.

Take a deep breath and relax. While the opposite may seem true, you do have plenty of options. You’re not alone: in recent years, millions of indebted Americans have been turning to debt counselors. Some people choose to consolidate their debt, others choose bankruptcy, but more and more people are turning to debt settlement.
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Tags: Debt, Debt Settlement

If you’re counting on a tax refund this year, you may have heard of refund anticipation loans (or RALs), which some tax-preparation services offer to people as part of tax preparation services. But these loans, as most consumer advocates will agree, are not a good deal for you the consumer.

Here’s a look at why tax refund anticipation loans (sometimes called a refund anticipation check) may not be all that they’re promised, and what the federal government is doing to help you avoid them.

Why RALs Are a Bad Financial Move

So what is a refund anticipation loan? Basically:

• It’s a cash advance loan that charges you a high interest rate to get some of your tax return dollars earlier than you would have otherwise gotten them.
• Some tax preparation services offer them to customers who are expecting a tax return that year. Gener

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Tags: Anticipation Loans, Refund Anticipation, Refund Anticipation Loans, Tax