The largest financial commitment that many new parents make is also the most emotional: choosing a full-time caregiver for your child as you head back to work. As many parents know all too well, it’s a giant expense, often second only to housing costs. Many families pay the equivalent of college tuition, and that’s not […]
Service Members Left Vulnerable to Payday Loans
Ivan Pierre Aguirre for The New York Times A business offering short-term loans near Fort Bliss in El Paso, Tex. Interest rates on such loans can reach as much as 80 percent. Petty Officer First Class Vernaye Kelly winces when roughly $350 is automatically deducted from her Navy paycheck twice a month. Month after month, […]
Caught in Unemployment’s Revolving Door
Gretchen Ertl for The New York Times Jenner Barrington-Ward says that she has been told, “point-blank to my face, ‘We don’t hire the unemployed.’ ” On a cold October morning, just after the federal government shutdown came to an end, Jenner Barrington-Ward headed into court in Boston to declare bankruptcy. It took weeks to put […]
Protecting Your Children’s Credit
If you want to make sure your personal information isn’t at risk from identity thieves, you can ask to have a security freeze placed on your credit file at the three major credit bureaus — Experian, Equifax and TransUnion. That prevents lenders or credit card companies (that you aren’t already doing business with) from gaining […]
4 Simple Things to Do Every Year to Save Money
Originally posted by Adam Levin here For many people, managing finances feels like an overwhelming task. Our lives are incredibly busy as it is, and folks in my line of work tend to throw around acronyms and jargon until too many people just throw their hands up in despair. It all can seem so overwhelming […]
Reaffirmation Agreements and how they Affect Your Property
In bankruptcy proceedings such as Chapter 7 liquidation, the debtor must often surrender certain property that is subject to a lien. However in such circumstances that property may be of paramount importance to the debtor and their continuing well-being. An example of such property would be the debtor’s automobile. Like most Americans today accomplishing your […]
Help for Some Sandy Victims
Originally published in The New York Times By LISA PREVOST Published: October 31, 2013 A temporary change in a federal loan program for the rehabilitation and repair of houses may provide a new option for financing repairs to homes damaged a year ago by Hurricane Sandy. The Federal Housing Administration’s 203(k) loan program covers purchase […]
Life Insurance Proceeds and Your Choice in Federal or State Exemptions
In a Chapter 7 Bankruptcy, what generally occurs is that a debtor’s assets are liquidated and the proceeds of the sale go to the repayment of their creditors. However under both Federal Law and State Law a debtor can claim a number of exemptions based on the type of assets that are being liquidated. Under […]
Why You Should FIle Bankruptcy Now…and Why Delaying Makes You Feel Better
Originally published in the Bankruptcy Law Network here It’s an old saying among bankruptcy attorneys that their clients should have seen them at least a year ago. If they did, they wouldn’t have done all of the things that cost them lots and lots and lots of money: Taking money out of retirement programs to […]
Finance Class on the Web, for Students of All Ages
By Tara Siegel Bernard In an ideal world, a master class available to everyone would reveal all the secrets to retirement planning, telling you how much to save, where to invest and what to do when the stock market crashes. After all, there are few entirely conflict-free places where investors can educate themselves on the […]
