Grant Mcnutt

  • What Are Charitable Contributions?

    We are a few days from Christmas, and the holiday season is in full bloom. Many people plan on making donations to charitable organizations before the end of the year. However, you want to make sure that organization is a Qualified Charity in order to claim a deduction for the donation on your federal tax return during tax season.

    Grant Mcnutt/ Bond and Botes- 9 readers -
  • What are Some Bankruptcy Myths?

    I love my law firm of Bond and Botes, my law partners, my law associates, my employees and the practice of Consumer Bankruptcy very much. It is a great thing to love what you do and who you do it with and I am so blessed to get to do just that every day. I also love my clients and solving the financial problems they bring to our offices at Bond and Botes each day.

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  • What Is an Unsecured Debt?

    An unsecured debt is an obligation or debt that does not have personal or real property serving as collateral for payment of the debt. If you fail to make payment on an unsecured debt, the creditor cannot take any of your property without first suing you and getting a court judgment. There are a few exceptions to this rule, such as back child support, back taxes or delinquent g ...

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  • What are the Bankruptcy Exemptions in Alabama?

    A bankruptcy exemption is simply the value of certain property that state or federal law says, a creditor can NOT touch, no matter what. The two (2) types of Bankruptcy Exemptions are Real Property and Personal Property Exemptions. Each state enacts its own exemption laws or a state can decide to have the federal exemption laws apply within its borders.

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  • What are the Costs of Attending College?

    The cost of a College education is rising each year. I have 2 children, ages 2 and 7 and can only imagine what costs will be in 2028 and 2033. For example, The University of Alabama cost of attendance for the 2017-2018 academic year is estimated to be $30,184 for in-state students and $48,634 for out-of-state students.

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  • Have You Paid Any Overdraft Fees in the Last Year?

    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.

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  • Bankruptcy Filings are on the Rise

    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.

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  • Don’t Overlook These When Making a Budget

    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.

    Grant Mcnutt/ Bond and Botes- 15 readers -
  • Do You Have a Will?

    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.

    Grant Mcnutt/ Bond and Botes- 11 readers -
  • What are Living Trusts?

    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.

    Grant Mcnutt/ Bond and Botes- 15 readers -
  • Don’t EVER Say ‘Yes’ When You Receive a Robocall

    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.

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  • Payday Loan Amendment Bill Introduced to Alabama Legislature to Cap Interest at 36%

    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.

    Grant Mcnutt/ Bond and Botes- 26 readers -
  • When do you Object to a Proof of Claim Filed by a Creditor in your Chapter 13?

    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 ...

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  • Best Buy, Co. Inc. set to close Florence, Alabama Store

    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.

    Grant Mcnutt/ Bond and Botes- 17 readers -
  • Sears Holding Corporation to Close down 150 Stores in Early 2017

    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.

    Grant Mcnutt/ Bond and Botes- 19 readers -
  • Options If You Can’t Make Your Chapter 13 Payment?

    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.

    Grant Mcnutt/ Bond and Botes- 21 readers -
  • Why You Should Avoid Cashing Out Your 401(K)

    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 ...

    Grant Mcnutt/ Bond and Botes- 17 readers -
  • Useful Savings Tips for Christmas and the Holiday Season

    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.

    Grant Mcnutt/ Bond and Botes- 16 readers -
  • What is the Confirmation Hearing in a Chapter 13 Bankruptcy?

    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.

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