Choose Credit and Bankruptcy Counseling TodayAs we all know, bankruptcy is one of those things that have been considered to be on the list of things that you never want to do. Bankruptcy has been extremely beneficial in assisting individuals in their quest to financial freedom. Since dire financial situations cannot be predicted the option of filing bankrupt is a way to assist in overcoming such situation. In the state of Florida, there are many...more
One of the greatest gifts that the Internet has provided people with is online banking. Can you remember the days when people had to go to a financial institution such as a bank to make deposits? Every time you needed money, you had to go when it was convenient for the bank to get money. You had to fill out deposit and withdrawal slips and could only access your money during banking hours.Today, online banking can do so much for those who take...more
In your lifetime, youll probably experience the hassle of changing jobs at least once. The reason for changing jobs isnt important. Perhaps you were let go because your company is downsizing. Perhaps you resigned because of better opportunities elsewhere. Whatever the reason, you must have an appropriate career plan.Changing jobs opens you to new challenges and opportunities. During the transition, you must remember the importance of managing your finances. Here are some of the financial issues that usually happen whenever you change jobs.Closely Review Your BenefitsBefore you take a new job, make sure you completely understand the benefit package youre going to get. Clarify every detail about your retirement savings plans, health coverage, sales commissions and any additional benefits that you may have. Remember that once youve signed the contract, it would be difficult to negotiate anymore.Make sure you refuse a job that does not offer health insurance. You never know what will happen in the future, and a major medical emergency could drain all your savings in a matter of days. Even if you are in perfect health now, dont be tempted to get a job that does not have sufficient...more
Do you find yourself having more debts than you can handle? If you have too many outstanding debts, youre probably finding it very, very difficult to pay all your bills. Whenever this happens, the instinct is usually to get a new loan in order to pay for old loans. However, you may have a problem getting a new loan because your credit rating is...more
Its never too early to learn how to manage your own finances. In fact, this is a skill that even the youngest student should learn out of his or her own meagre allowance. The reason why you should learn financial management is because if you dont learn how to manage your finances early in life, you may have a difficult time disciplining yourself...more
Bankruptcy Abuse Prevention and customer Protection Act of 2005 (BAPCA), investors facing bankruptcy can now shield their IRA assets from creditors. While retirement plans that meet the requirements of the Employee Retirement Income Security Act of 1974 (ERISA) such as employer-sponsored plans like 401(k)s and 403(b)s have long been excluded from an individuals bankruptcy estate, BAPCA extended these bankruptcy protections to IRAs and certain other investment products. IRA investors now are even shielded further against creditors than they were before BAPCA. It is common in today's job market for the average worker to change jobs numerous times during a career, resulting in many 'orphan' IRAs that the investor thereby ends up consolidating into a single IRA. So, fear not your portable nature and the investment behavior that led to an IRA consolidation. BAPCA is here to save the day.The following are the shields that a bankruptcy filer will be afforded in regards to their IRA investments:-I have stated that several assets are either excluded from the bankruptcy estate altogether or exempt under federal or state law. In either case (exclusion or exemption), the property remains...more
Geographical InterpretationsAustraliaIn Australia, all forms of bankruptcy are governed by legislation that is entitled The Bankruptcy Act 1966 (Commonwealth). According to this, the act of becoming bankrupt is only available to individuals. In the...more
History: ContinuedSince such banking practices were common in Italy, it has been suggested that the Italian words banco rotto, or broken bank, represents the true meaning of the term bankruptcy. Alternatively, some derive the word from the French...more
Geographical InterpretationsAustraliaContinuedThere are normally two principal sources from which funds can be realised, viz. the assets and wages of the bankrupt. However, the bankrupt is granted the facility whereby certain assets are set aside and...more
Geographical InterpretationsBrazilIn the case of Brazil, the Bankruptcy Law applies solely to private companies. However, there are a few specified categories that are deemed to constitute an exception, and these include:Financial institutions,...more
Today a mobile phone is an expression of life. It serves its owner in various ways but none of them is more important than the mobile banking function provided by almost all carriers today. Credit unions have already started gearing up for the...more
Chapter 7 bankruptcy: Also known as liquidation (converting assets into money) or a straight bankruptcy. This is one of the faster ways of starting afresh and more so if there are no objections from any of the parties involved. Ordinarily, most (if...more