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Sequestration Affects New York Courts
May 16, 2013What is Sequestration? It is a U.S. legal procedure in which automatic spending cuts are triggered. UScourts.gov reports that sequestration has reduced the federal judiciary’s overall funding levels by almost $350 million, which is equivalent to a 5 percent cut. Each court decides how to implement the funding cuts. In all, approximately 2,000 employees nationwide [...]
Read MoreWhat Do Mickey Mouse and Bankruptcy Have in Common?
May 14, 2013Wald Disney. Walt Disney, the man who created Mickey Mouse, the Disney theme parks and many blockbuster movies, experienced financial ups and downs like most people, including bankruptcy, according to justdisney.com, a website that is not affiliated with The Walt Disney Company. Disney was born in 1901 and spent his childhood in Missouri with three [...]
Read MoreWhat Do Filing for Bankruptcy and Winning the Nobel Peace Prize Have in Common?
May 2, 2013Despite his remarkable achievements, Jean Henry Dunant, who in 1901 received one of the first Nobel Peace Prizes, endured periods of ups and downs in his life, including bankruptcy, according to www.nobelprize.org, the official website of the Nobel Prize. Dunant was a founder of the International Committee of the Red Cross and the initiator of [...]
Read MoreHow Long Should You Keep Financial Records?
April 22, 2013It may be tempting to get rid of bank statements and other financial documents that seem to clutter your home or office. But don’t be too quick to dispose of them. The Federal Deposit Insurance Corporation provides guidelines about how long to keep your financial records. As a general rule, documents that pertain to taxes [...]
Read MoreCredit Card Users May Face New Fees
February 19, 2013Financial planners usually advise clients against running up debt on credit cards. Now there is another reason to be cautious about whipping out the plastic for your next purchase. Since January 27, 2013, merchants who accept MasterCard and Visa are able to add a surcharge to your bill. The surcharge is the result of a [...]
Read MoreCan Undocumented aliens file bankruptcy?
April 13, 2012“Can Undocumented aliens file bankruptcy?” This is a perfect example of the law of unintended consequences. Calling illegal aliens, undocumented persons maybe the PC thing to do but it fluffs over the legal issue. It is one thing to be here illegally, and then NO you cannot file bankruptcy, it is another to be here [...]
Read MoreWill Obamacare reduce bankruptcy filings?
April 13, 2012“It has often been said that a large portion of people that file bankruptcy are driven to file because of substantial medical bills. I think that Obamacare will reduce bankruptcy filings because it will cover medical care.” I have heard that before many times but I have had very few clients that filed for that [...]
Read More“Success” Rates in Chapter 7 versus Chapter 13
April 13, 2012“I’ve read that that just one year after bankruptcy, one in four Chapter 7 debtors was again struggling to pay routine bills vs Chapter 13 debtors.” It seems one of the only beneficial provisions of BAPCPA was the post filing CDE. It was intended to prevent debtors from being back where they started before filing. [...]
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