Mary Pool

  • Incurring a Debt During a Chapter 13

    If you have filed chapter 13, you should know that you cannot incur a debt without the bankruptcy court’s permission during the life of your bankruptcy. We understand that situations may arise where you may need to incur a debt. The most common situations that arise where a debt may need to be incurred are: refinancing your current home mortgage purchasing a home or car ...

    Mary Pool/ Bond and Botes- 11 readers -
  • Reaffirm, Redeem, Retain and Pay or Surrender Property in Chapter 7 Bankruptcy

    When someone files chapter 7 bankruptcy and owes money on a secured debt (i.e., car note, furniture loan), they must make a decision by stating their intentions on what they want to do with the collateral securing those type loans. The options to choose from are: Reaffirm the debt and keep the collateral To reaffirm a debt, one must sign a reaffirmation agreement, a contract, a ...

    Mary Pool/ Bond and Botes- 11 readers -
  • What is an Insider Payment?

    The bankruptcy code defines an insider as either a relative, a relative of a general partner, a general partner of the person filing bankruptcy or a corporation in which the person filing bankruptcy is an officer, director or personal in control. When filing bankruptcy you must answer whether you have made a payment on any debt owed to an insider within the last 12 months of filing bankruptcy.

    Mary Pool/ Bond and Botes- 10 readers -
  • Three Lessons to Help Teach Toddlers About Money

    I have a three-year old toddler and it has been important for me and my husband to find ways to teach her about money and the value of $1. I firmly believe and have personally learned that there is not a one-size-fits-all approach to parenting. In our household, the following rules work for our daughter but you may need to adapt these lessons to fit your child’s personality and interests.

    Mary Pool/ Bond and Botes- 14 readers -
  • Steps To Take If You Lose Your Job?

    Losing a job can be one of the most stressful and emotional events that can occur for someone. The shock of losing your job can emotionally take a toll on you and your family and the financial stress of wondering how you are going to make ends meet can be overwhelming. If you have lost your job, I hope these suggested steps will help relieve some of the stress on you during thi ...

    Mary Pool/ Bond and Botes- 10 readers -
  • Pros and Cons of Using a Debt Settlement Company to Get Out of Debt

    A debt settlement company is a business designed to help you negotiate to pay less to your creditors than you actual currently owe. The company will calculate your payments based upon the debts you owe and its fees for providing the service to you. As you pay the company each month, a portion of what you pay, less its fees, will be placed into an escrow account.

    Mary Pool/ Bond and Botes- 13 readers -
  • Is There a Link Between Mortality Rates and Financial Strain?

    According to a University of Colorado Denver study, there is a direct link between an increased risk of death and financial strain. The results of this study were published recently by the Federal Reserve Bank of Atlanta. The three economists who produced the study found that higher individual mortality risks were higher for those suffering with severe delinquent debt and bad credit.

    Mary Pool/ Bond and Botes- 11 readers -
  • Winn-Dixie’s New Reward Program Offers Free Groceries

    Want free groceries? If so, on April 5th Winn Dixie is replacing its Fuel Perks program with Winn-Dixie Reward + Plenti. Customers will be able to earn points buying groceries at Winn-Dixie or spending money at any Plenti reward partner. You can earn points by: Switching to AT&T Buying gasoline at any Exxon or Mobile station Buying goods at Macy’s and many other onli ...

    Mary Pool/ Bond and Botes- 19 readers -
  • Family Christian Stores Closing All 240 Stores

    Family Christian Stores has announced that it will be closing all 240 stores. This company has been in business for 85 years. The company claims that the reasons for closing all stores are due to “changing consumer behavior and declining sales”. Family Christian Stores is a non-profit and one of the largest local providers of Christian products.

    Mary Pool/ Bond and Botes- 15 readers -
  • How to Achieve Your Goals in 2017

    As we come to the end of 2016, it is that time of year when a number of people will be setting goals/resolutions for 2017. If you are one of the 45% of Americans who will make New Year’s Resolutions this year, did you know that only 8% of Americans will complete their resolutions in 2017? Whatever resolutions you set this year, be one of the 8% by following these simple rules of success.

    Mary Pool/ Bond and Botes- 16 readers -
  • What are the benefits and consequences of being an authorized user on a credit card?

    What is an authorized user? An authorized user is someone who has been “authorized” to use a credit card that is in someone else’s name. For example, parents will sometimes add their children as an authorized user to help build their child’s credit or use while they are away at college. Benefits: Establish or improve your credit score: For an authorized user without credit, ...

    Mary Pool/ Bond and Botes- 30 readers -
  • How to Settle Your Debt(s) That Go To Collections?

    You have several options with a debt that you owe has been placed in collections. This blog post will help you determine whether one of these options will work for your situation and explain the consequences that could occur if you are unable to choose either of these options at this time. Usually, when you owe a creditor, it will first bill you multiple times to attempt to get ...

    Mary Pool/ Bond and Botes- 13 readers -
  • Owing Money to a Credit Union While Filing Bankruptcy

    If you are contemplating bankruptcy and owe money to a credit union, it is very important for your bankruptcy attorney to know that fact so that they can advise you of how filing bankruptcy can affect your credit union relationship. Generally, there are three situations that could arise when you owe a credit union money and file bankruptcy.

    Mary Pool/ Bond and Botes- 18 readers -
  • The $85 Million Medicaid Deficit will NOT be Fixed by a Lottery

    As most Alabamians know, on Friday, the Alabama Senate passed Governor Bentley’s lottery bill. It is now up to the House to decide if the people of Alabama will be able to vote upon Governor Bentley’s lottery. A vote for Governor Bentley’s proposed lottery will require that the anti-gambling clause of the Alabama Constitution be repealed.

    Mary Pool/ Bond and Botes- 21 readers -
  • Understanding the Risks of a Bond for Title in Alabama

    Recently, I met with a couple who was behind on payments under their bond for title contract. They were concerned because the contract allowed the seller to void the contract and treat the contract as a month to month lease instead of a sale if a default occurred. Understandably, this couple was upset because they paid upfront a large down payment on the property and had made p ...

    Mary Pool/ Bond and Botes- 14 readers -
  • Finance Tips for High School Graduates

    I have many friends who are watching their kid’s graduate high school this year. Our turn will be next year and the thought of sending our daughter away from us to attend college is exciting but sad. I remember when I moved away from home and the temptations of being my own “boss” was liberating and yet frightening.

    Mary Pool/ Bond and Botes- 36 readers -