Daily Archives April 8, 2015

Bankruptcy and Your Credit

Bankruptcy and Your Credit

by: T.Going

Bankruptcy and credit are directly linked to one another. Credit is how many people run into trouble with their finances, and ironically how they remedy their financial problems at the same time. Credit availability and the encompassing pressure to maintain a good credit ranking will often allow lenders to form prejudices. Many times this can make be the difference between receiving, or being denied, a large loan.
When someone goes bankrupt several things take place. By filing for bankruptcy you acknowledge that you are not able to pay your debts and must be relieved from having to pay off your unsecured debts. Unfortunately, this relief from debt comes at a price. Declaring you are bankrupt makes you at risk to creditors. You are less likely to receive extended credit when you need it, and on top of that you will be charged extremely high interest rates.
Fortunately one of the best things about bankruptcy is its ability to restore your credit rating. By opening a high interest rate credit card and making regular payments for the first few years after bankruptcy, you will demonstrate that you are willing and able to make payments in a timely fashion. Eventually your rating will rise and you can have credit available next time you need it. This process can be somewhat long, but for those who are willing to work towards the ultimate goal of having good credit, it can be well worth it.

About The Author

T.Going
To learn more about understanding bankruptcy please visit the San Diego Bankruptcy Lawyers Chang and Diamond, APC at http://www.thebklawyers.com. This article may be freely reprinted as long as this resource box and all links stay intact.

This article was posted on September 12, 2005

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Overwhelmed By Student Loan Debt? Consider a Conso

Overwhelmed By Student Loan Debt? Consider a Consolidate Student Loan

by: Mike Yeager

A consolidate student loan is the perfect solution for people who need help managing their debt. If you have several different loan payments but want to make only one payment per month, you should apply for a Federal Consolidation Loan. With loan consolidation, your lender will combine your present loans into one single loan. If you do decide to get a consolidate student loan, you will pay interest on a fixed rate. The rate is determined by the average of your loans, and is averaged up to the nearest .125 percent. If you make direct loan electronic payments, you may get a lower interest rate. As student loan debt is usually not the largest debt a person has, it may make sense to include it in a consolidate student loan.
Tips on repaying your Consolidate Student Loan
Most people use student loan consolidation as a way to manage debts. Most often, a consolidate student loan will save money. Be aware that although a consolidate loan reduces monthly payments, it will likely raise the interest amount. Because of this, it is a good idea to try to pay off as much of your consolidate student loan as soon as possible. Do this by trying to increase your monthly payments. Be aware that there are certain deferment programs available. For example, unemployment or economic hardship may cause the consolidate student loan to be reduced.

About The Author

Mike Yeager

Publisher

http://www.a1-loans-4u.com/

This article was posted on November 15, 2004

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An important part of lifetime planning is the Powe

An important part of lifetime planning is the Power of Attorney.

by: Jeffrey Broobin

An important part of lifetime planning is the Power of Attorney. Valid in all states, these documents give one or more persons the power to act on your behalf. The power may be limited to a particular activity (e.g., closing the sale of your home) or general in its application, empowering one or more persons to act on your behalf in a variety of situations. It may take effective immediately or only upon the occurrence of a future event (e.g., a determination that you are unable to act for yourself). The latter are “springing” Powers of Attorney. It may give temporary or continuous, permanent authority to act on your behalf. A power of attorney may be revoked, but most states require written notice of revocation to the person named to act for you.
The person named in a Power of Attorney to act on your behalf is commonly referred to as your “agent” or “attorney-in-fact.” With a valid Power of Attorney, your agent can take any action permitted in the document. Often your agent must present the actual document to invoke the power. For example, if another person is acting on your behalf to sell an automobile, the motor vehicles department generally will require that the Power of Attorney be presented before your agent’s authority to sign the title will be honored. Similarly, an agent who signs documents to buy or sell real property on your behalf must present the Power of Attorney to the title company. The same applies to sale of securities or opening and closing bank accounts. However, your agent generally should not need to present the Power of Attorney when signing checks for you.
Why would anyone give such sweeping authority to another person? One answer is convenience...

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Fighting Identity Theft

Fighting Identity Theft

by: James H. Dimmitt

Chances are good that you know someone who has been victimized by the fastest growing crime – identity theft. The Federal Trade Commission (FTC) reported that there were 10 million cases of identity theft in 2002 alone. It’s estimated that someone’s identity is stolen every 79 seconds.
The bad news is with increasing amounts of personal information available to an experienced identity thief, it shows few signs of slowing down. The good news is that identity fraud is now a federal crime with stiff penalties for those who perpetrate these crimes.
Here are a few simple steps you can take now to minimize your risk:
1) Check your credit report annually, if not more often. Most victims of identity theft don’t realize they’ve been victimized until 14 months after the crime. By then the damage is done and you will spend a significant amount of time and money trying to correct it.
2) Keep your Social Security number private. Do not have it printed on your personal checks or drivers license. Do not share it with anyone, including merchants, unless they can provide a good reason for having it. Once someone has your Social Security number they have the key to unlocking your identity and using it fraudulently.
3) Shred offers for pre-approved credit cards that you receive by mail. Do the same with any receipts that contain account numbers or your Social Security number. Identity thieves are not afraid to go “dumpster diving” in order to obtain your personal information.
Identity theft has become the fastest growing crime because it is the most profitable crime. On average, the loss from identity theft is about $18,000.00...

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Recognizing “Abuse” May Be Key Step for Many Immig

Recognizing “Abuse” May Be Key Step for Many Immigrants Seeking Green Cards

by: Heather L. Poole

The Violence Against Women Act (VAWA), passed into law in 1994 and amended in 2001, provides hope for immigrant domestic violence survivors. An abused immigrant who is married to a U.S. citizen or Lawful Permanent Resident or who divorced her abuser in the past two years may now petition on her own for an immigrant visa and green card application, without the abuser’s knowledge or consent. In this confidential process, CIS (formerly called “INS”) agents cannot legally contact the abuser and tell the abusive spouse anything of the abused immigrant’s attempts to obtain a green card under VAWA. The process can often be completed within a year for those married to U.S. citizens. This process also provides renewed work authorization to lawful permanent residents who usually face a longer waiting period due to visa number backlogs. Further, there is no appearance in front of a judge required (the process is paper driven) by the immigrant spouse and s/he may leave her abuser at any time, without harm to her immigration status. So, given these benefits, why do so many immigrants in such abusive marriages not file for their permanent residency under VAWA?
There are two main reasons. For one, many do not know of VAWA’s protections for abused immigrants and secondly, most do not recognize that what they have experienced or are still facing can be considered abuse or “extreme cruelty” under U.S. immigration law.
A finding of “extreme cruelty” (abuse under immigration law) is based on the emotional, psychological, financial, and/or physical abuse that an immigrant experiences during his or her marriage...

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