Private debt collectors are going back to work for the IRS. You know those debt collectors: the ones that generated the most complaints to the FTC this year? The ones that get a cut of what they collect? The ones that aren’t subject to the same discipline as IRS employee? Those collectors. They’ll be […]
Spot Credit Report Errors After Your Bankruptcy & Fix Them
Your debts have been discharged in Bankruptcy. Congratulations! But if those debts still appear on your credit report, you haven’t gotten all the debt relief you are entitled to. Your credit report is the public face of your finances. It’s the thing that lenders, landlords, and life insurance companies look at to figure out whether […]
Don’t Get Fleeced At The Car Dealership: Tips On Buying A Car
Getting fleeced at the car dealership is all too common. The ways to get taken, bamboozled, oversold, and generally ripped off are too numerous to count. But the good folks at NCLC have studied the car-buying extras and add-ons that pad the price of the car. The mark up on add-ons can be huge. Add-ons, […]
Taxes: Building Block of Financial Literacy
You’re a first time employee. Congratulations. Welcome to the world of tax forms, withholding, and tax deadlines. Taxes are the price we pay for civilization, according to Oliver Wendell Holmes. In fact, the first day on your new job you’ll be presented with an IRS form w-4. It’s like a rite of passage into adulthood. Even families […]
Your Creditors Lie In Wait For Your Kids
Is your legacy to your kids an encounter with your unpaid creditors? Debt problems for those over 65 may not be problems for the elder at all. Income and assets are largely protected by law from creditors. But that doesn’t trouble creditors: they’ll simply wait and get their money from your kids. Seniors enjoy protection […]
How Your Property Gets Sold In Your Partner’s Bankruptcy
It isn’t just marriage that can get you roped in to a bankruptcy case that isn’t your own. Own community property and a bankruptcy filing by your spouse or your soon-to-be ex can drag you into a bankruptcy court. But the issue is broader: joint ownership of any kind of asset in any state, community […]
How Their Telephone Can Ruin Elders
The elderly couple was suddenly in financial trouble. The two mortgages on their home were a couple of months delinquent. Their bank account had just been levied by the state taxing authority. They hadn’t filed tax returns in several years. From the outside, it didn’t seem like anything had changed. Yet their financial world was […]
Cut Tax Liens Down to Size
Tax liens are no match for Chapter 13 when it comes to cutting the lien down to its real value. On paper, a tax lien can quickly become huge. In bankruptcy however, a lien is no bigger than the value of the assets it attaches to. While in Chapter 7, liens pass through bankruptcy without […]
Google & Me
Google and BankruptcyInBrief share a birthday, I’ve learned. I’m sure you saw the similarities in a flash. The Mercury News reports that Google was founded in 1998, the same year I bought a book and set out to make a web site about bankruptcy. I knew nothing about programming, and less about web design. But I knew that […]
Your Home Is Not A Piggy Bank
Right before the Great Recession, lenders, main stream and fly-by-night, urged us to “tap the equity in your home for what you want today”. California home values were rising. Credit was easy. And we always want something more, don’t we. We need to remember those days, because those sales pitches are back. Back on the radio and […]
