If you fail to pay your taxes in a certain period of time, the IRS will report the issue to the credit bureaus and it will appear as a tax lien on your credit report. Tax liens can significantly lower your credit score and put you in a poor position to obtain credit in the […]
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If you’re filing for bankruptcy to get some relief from creditors and get your financial situation back on track, you may have wondered what happens to personal assets like your car during the bankruptcy filing process. Many people fear losing their car to creditors when filing bankruptcy, but the good news is that in most
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It’s a sad reality that many families and individuals have to deal with, but knowing what to do when you can’t afford to bury a family member can help to relieve some of the stress and heartache of this difficult time. According to the National Funeral Directors Association’s latest data, the median cost of a
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When you have taken the step to file for bankruptcy and are struggling to make ends meet, you may have wondered if your home will soon go into foreclosure. If you’re filing for bankruptcy, it’s likely that you’ve been struggling with finances for several months – even years – and may already have come close
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Many people who are filing for bankruptcy wonder if they are able to have back owed income taxes discharged during the bankruptcy process. The short answer is: Maybe. The type of bankruptcy you are filing will determine whether you can include back owed income taxes in your bankruptcy, or not. Educating yourself on the different
Can I Include Back Owed Income Taxes in My Bankruptcy? Read More »
Q: Why do 866 numbers keep calling me? Are they scammers? A: Scam calls from the 809 area code and similar numbers like 649, 284, and 866 are more than just annoying—they’re potentially expensive traps. The Federal Communications Commission (FCC) warns consumers that these calls often lead to costly international charges or phishing schemes designed
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If you’ve been paying attention to any conversations about debt in America lately, you’ve no doubt heard phrases like moral hazard or moral obligation thrown around. American individuals and families owe a collective $11 trillion in consumer debt, including car loans, mortgages, credit card bills and more. At the same time, a recent analysis by USA Today
Do You Have a Moral Obligation to Pay Your Debt? Read More »
If you’re like me, you’d like to simplify your summer finances. After all, summer is the time to relax a bit more, spend extra time with family and friends, and maybe even indulge in a little getaway if a summer vacation fits into your budget. So chances are, money matters are the last things you
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If the current economic conditions are still impacting your finances, you may want to declare bankruptcy as a way to get a fresh start. In recent years, bankruptcy filings have been on the rise, with a notable increase of 16.2% in 2024 compared to the previous year, reaching a total of 504,112 filings. This trend is
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Two new studies suggest that your mental state – specifically being distracted and experiencing stress – can have a serious, negative impact on your finances. Northwestern Mutual recently surveyed 1,000 Americans 25 and older to analyze their financial tenacity and self-discipline. Not surprisingly, the bulk of those polled admitted they were lagging in those areas.
Got Stress? Your Finances Could Suffer Read More »
When my husband, Earl, left his job as a national accounts manager for book publisher John Wiley & Sons, the very last email he sent from his corporate account carried the subject line “Independence Day.” Like many people who leave a job, Earl (shown at right, and above with me) used his parting missive to
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Whether you’ve lost your job, are carrying an excessive amount of credit card debt, or have big medical bills and are dealing with mounting debt, you may have considered filing for bankruptcy to get a fresh start with your finances. A recent FindLaw.com survey revealed that one in eight Americans, or 13% of us, have
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Q: I received a 1099-c form from the mortgage company I used to have a loan with. My ex-wife and I were both on the mortgage. She took the house in the divorce and never got my name off of the loan. She then filed bankruptcy. I received the 1099c form that simply showed the
Q: Hello Lynnette ! I am an international graduate student who worked as a part time contractor to the United Nations in 2010 for about 6 months. They did not subtract any tax from my income, and the UN does not provide a W-2 or any tax form. My supervisors don’t know what I should
If you’re about to get married, or have recently tied the knot, chances are you and your mate talked through virtually every aspect of the wedding ceremony. But what about a thorough discussion of the money matters that will affect your life together after the Big Day? Unfortunately, studies show that most couples are loath
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