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If you have not paid any overdraft fees in the last year, then you are apparently in the minority. According to a recent article by CNN Money, Americans have racked up billions of dollars’ worth of overdraft charges. Overdrafting is when a customer tries to make a purchase without enough money in their account to cover the transaction.
Remember when a person’s 65th birthday used to be a milestone. Well, it still is of course, but that used to be the age at which your working days were over and your retirement began. You said goodbye to your boss and co-workers and did not look back. As they say, “That was then, this is now” and according to a recent article by CNBC’s “On the Money”, approximately 19 percent ...
The total number of Bankruptcy filings in May of 2017 rose 5% over May of 2016. The actual number filed in 2017 was 69,668, up from 66,138 cases filed in May of last year according to the American Bankruptcy Institute & Epiq Systems. Commercial or Business Bankruptcy filings for the month of May also increased at a 5% clip to 3,572 up from 3,412 in May of 2016.
Following a Budget is absolutely critical to keeping your finances in check. But, if you keep going over each month, you need to ask yourself why? Here are several places that people spend throughout the year, but often do not realize it until too late. Make sure these items are in your budget on a monthly basis so you are not caught overlooking them and allocating your money improperly.
According to legal publisher LexisNexis, approximately 45% of those living in the United States have a Will. This is actually a pretty conservative number as other studies show numbers are even lower. Younger people are even less likely to have a Will than older people. I highly recommend everyone to get a Will prepared.
The word Trust is defined as a firm belief in the reliability, truth, ability or strength of someone or something. Common synonyms are confidence, belief, faith, certainty, assurance and reliance. The type of Trust (Living Trust) I am going to be discussing today falls into the something category. There are only two (2) types of Trusts, either revocable or irrevocable.
Don’t get caught by the latest robocall scam. First off, you might ask, “What is a Robocall?” A Robocall is a phone call that uses a computerized auto dialer to deliver a pre-recorded message, as if from a robot. Robocalls are often associated with political and telemarketing phone campaigns, but can also be used for public-service or emergency announcements.
According to a recent article by the Montgomery Advertiser, 45 Alabama legislators are pushing a bill that would give the power to the people of Alabama to vote on whether payday loan interest rates in Alabama should be capped at 36% Interest Rates Out of Control A bi-partisan group of legislators and payday reform advocacy groups gathered at the Alabama State House last Tuesday to introduce the.
A creditor that wants to get paid in your bankruptcy case must file a proof of claim with the clerk’s office of the Bankruptcy Court. Most creditors must file their claim within a certain amount of time, typically 120 days from the date you filed your Bankruptcy petition. Governmental entities, such as the IRS or the State of Alabama, are given additional time or 180 days from ...
After serving the Shoals area for close to 15 ½ years, Best Buy has announced it will close its Florence, Alabama store located at 398 Cox Creek Parkway on February 25, 2017. Best Buy, Co. Inc. is an American multinational consumer electronics corporation headquartered in Richfield, Minnesota. Best Buy, famous for its “Geek Squad”, was named “Company of the Year” by Forbes in 2004.
Sears Holding Corporation is an American holding company headquartered in Hoffman Estates, Illinois. It is the owner of retail store brands Sears and Kmart. The Corporation was founded in 2005 when Sears and Kmart merged. Last week, Sears Holding Corp. announced it would close 150 stores that included 109 Kmart stores and 41 of its namesake Sears outlets.
What options do you have if 3 or 4 years into your 60 months (5 years) plan you lose your job or your income is reduced substantially? The answer is unfortunately, “It depends.” Is your case asset or income driven? Is your job loss permanent or temporary? Was it an unexpected expense, like a water heater failed or transmission needed to be replaced? Each scenario presents different answers.
Many of my clients come to me six months after cashing out their 401(k). At the time, it seemed to be a good idea to solve a short-term cash crunch. Unfortunately, cashing in a 401(k) can cause problems in the future. It is often easy to cash in your 401(k) as long as you can prove you are having a hardship, such as temporary cash-flow problems created by the loss of a job or a ...
Statistics show that consumers spend more money during the 3 months before New Year’s than any time of the year. It makes perfect sense as these 3 months include Halloween, Thanksgiving and Christmas. Costumes, parties and entertainment, presents and travel are at a yearly high. Unfortunately for many, much of that purchasing is done on credit.
Once you have attended your 341 Hearing, that is typically the last hearing you as a Debtor will have to attend. However, your attorney must attend one final very important hearing called the Confirmation Hearing. The Confirmation hearing is in essence the final stamp of approval if you will on your Chapter 13 Plan by the Judge.
Chapter 13 is a section of the Bankruptcy Code that allows individuals and small business owners in financial difficulty to repay their creditors. When you file a Chapter 13 Bankruptcy Petition with your Bankruptcy Lawyer, one of the documents you will file is called the Chapter 13 Plan. That Plan sets out how your Secured creditors and Unsecured Creditors are paid and must b ...
When you file your Bankruptcy petition, the Bankruptcy Court will send all your creditors a Notice of Bankruptcy Case (Form 309). This Notice among other things will tell your creditors specifically which Chapter you have filed, be it a Chapter 7 or Chapter 13 Bankruptcy. They usually receive this Notice within 7 to 10 days from your filing.
What is an Adversary Proceeding? Posted on Aug 18, 2016 By Grant McNutt August 18, 2016 by Grant McNutt An Adversary Proceeding or “AP” as it is often called is basically a lawsuit filed within a bankruptcy case. An AP can be filed by the Trustee, the Debtor or Creditor. To file an Adversary Proceeding, a formal complaint must be filed with the court and served on the Defendant.
Who is the Bankruptcy Trustee? Posted on Jul 28, 2016 By Grant McNutt July 28, 2016 by Grant McNutt Once you and your bankruptcy attorney go through your bankruptcy petition to make sure it is accurate and you both sign your names in all the appropriate places, the Petition is then filed electronically with the Court.
What are the 2016 IRS Retirement Plans Contribution Limits for 401(k)’s? Posted on Jul 07, 2016 By Grant McNutt July 7, 2016 by Grant McNutt The annual contribution limit for 2016 is $18,000.00, which is unfortunately the same as it was for 2015. This is the amount employees who participate in 401(k), 403(b), and most 457 plans can contribute.