California outdoes the rest of the country in its debt collection rights for consumers. Debt collectors have noticed the growing understanding of debtors about their rights to fair debt collection. And they aren’t happy. The Federal law Fair Debt Collection Practices Act regulates the conduct of third party collectors. Those protections apply everywhere and more […]
Search Results for: do you need to file bankruptcy
Why Some Chapter 13 Payments Are A Heavy Lift
Why do Chapter 13 plan payments end up too high to pay if Chapter 13 is supposed to be a financial reorganization? How are plan payments allowed to consume nearly all of monthly wages? The short answer is that the infamous means test isn’t the only factor driving the monthly payment in Chapter 13. The […]
California’s Good Deed: Passing Real Property At Death
The horror stories about do-it-yourself estate planning are both plentiful and tragic. Between the fear of probate and the fear of legal fees, inventive people invent inexpensive strategies for passing property to the next generation. Adding someone to the deed is the most common one I see. It works like this: in order to see […]
Who Profits When Money Trouble Is Shameful?
Talking about our financial troubles is taboo in this society. In fact, we are more willing to talk about our sex lives than our money troubles. We lionize those who make a fortune. Everyone expects to live the middle class life. It becomes easy to think that something is wrong with you if you aren’t […]
How Much Is My Chapter 13 Payment
Intrigued by Chapter 13, but worried about how much your Chapter 13 payment might be? OK, let’s walk through what your payment must be by law and what you want that payment to cover to get a fresh start. Part of the power of Chapter 13 is that you write the plan, with the help […]
Debt settlement: how it really works
Debt settlement companies thrive on tapping the consumer’s genuine desire to pay back their debts. They don’t tell you how debt settlement works, in reality. They promise that they will compromise with your creditors for a sizable discount and all will be well with the world. There are any number of reasons that isn’t so, […]
Is Home Equity A Substitute For Retirement Savings
My home is my retirement plan. If I had a dollar for every time a client said that, I could retire today. But that approach to funding your old age only works if…. Sell your house to retire The value in your house makes your balance sheet strong, but doesn’t put food on the table […]
Stop Making Quarterly Tax Payments & Stay Within The Law
Uncle Sam expects a quarterly tax payment from the self employed. Since you don’t get a paycheck with regular tax withholding, the burden’s on you. Lighten the burden. Make this the last quarterly tax payment you pay. Seriously. Don’t make any quarterly payments for this coming year. Think I’m advocating tax resistance? No way. The tax collectors […]
California’s New Exemptions For Money In The Bank
California has finally created a state law exemption for cash in the bank. Californians filing bankruptcy no longer face loss of all the funds in their bank accounts when they choose California’s generous homestead, thanks to changes in exemption law. Two exemption statutes , new in 2020 , provide protection for cash in the bank […]
Time Runs Out For Claiming A Tax Refund
Did you know there’s a deadline for claiming a tax refund. If you are entitled to a tax refund for an old tax year but haven’t filed the return yet, time’s running out. If you are more than three years late in filing your tax return, you forfeit any tax refund that you would otherwise […]
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