It’s so easy to get a tax filing extension and put off the unpleasant work til fall. Procrastination is easy, and even sanctioned by the simplicity of an extension. But doing it now is important to your financial wellbeing From a purely selfish point of view, you need to know where you and Uncle Sam […]
Forgiveness Starts At Home
The need for forgiveness in bankruptcy extends beyond forgiving debts. Kansas City bankruptcy lawyer Rachel Foley wrote about forgiveness in the bankruptcy context. She wasn’t talking about the forgiveness of debt, but about the negative emotions that can eat you up. Shed the anger at others who threaten your family’s well being, she counseled, and […]
Debts To The Government: Can They Be Wiped Out
It’s easy to assume that debts owed to the federal government can’t be discharged in bankruptcy. Easy, but wrong. Just because the creditor is Uncle Sam doesn’t mean the debt can’t be wiped out in bankruptcy. In fact, debts to the government range from freely dischargeable to not-in-this-lifetime nondischargeable. Honesty required for discharge All of […]
Can You Spot The Signs Of A Collection Scam
It’s pretty scary when a $300 payday loan turns into an investigation by the Federal Crimes Bureau. Not only was the recipient of the collection letter below being “investigated for crimes”, his Social Security number would be suspended, and a court case initiated against him immediately. At great cost and embarrassment. Unless, of course, he sent the […]
When Giving Isn’t Good
When you owe money to others, you are not free to give assets away. Or retitle them. Or put them in an irrevocable trust. That’s the universal principle of Anglo-Saxon law that prohibits fraudulent transfers. But the concept of a gift being wrong in the law is among the most difficult for ordinary folks to […]
5 Things To Do When You Have Been Sued
The ring on the doorbell was a process server. Bingo! You’ve been sued. Now what? Breathe deeply and work your way through this five step check list. Then I’ll suggest some options. Scout the territory 1. Look at the caption: It identifies the parties to the suit. It’s right below the centered name of the […]
Can You Be Arrested For Not Paying Your Debts?
Despite the story spread all over about federal marshals arresting a man for an unpaid student loan, people aren’t arrested for debt. And Fox News got the story wrong. The man was not arrested because he owed money he hadn’t paid. He was arrested for blowing off a court order that he appear in court. […]
Tax Deductions Hidden In Chapter 13
Don’t miss the tax deductions hiding in your Chapter 13 bankruptcy. The same, very important debts that your Chapter 13 plan pays are often tax deductible. And you are still the person who’s paying, even if the trustee writes the check. Don’t miss out on those deductions. Tax deductions in bankruptcy Let’s look at some […]
Get Annual Credit Report For Free
When is FREE not FREE? In a world seemingly driven in all matters by credit reports, getting that report for nothing ought to be a good thing, But the commercial entities beat the federal government to the web address freecreditreport.com. And they also got a better ad agency that wrote catchy tunes promoting their product, […]
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