If you are recently separated or divorced
Posted on February 10th, 2011
These suggestions can help you make the right credit related decisions for your unique situation.
It’s a tougher game now. With divorce and separation come new experiences and responsibilities across the board. Suddenly words like “child support payments” and 100% liable for bills” enter the picture. If you ignore your increased financial obligations or fail to separate your accounts it may be hard to open new accounts and obtain new loans in your name. But, there are many moves you can make to protect and restore the good credit you took years to build.
It will decide your starting position. Before you begin, get an idea of what the entire playing field looks like. Call for information on how to get a copy of your credit profile or visit annualcreditreport.com. Understand this, YOU are responsible for joint accounts just like the ex-spouse. Your divorce decree does not relieve you from joint debts you incurred while married. You are
Reward Points: Friend or Foe?
Posted on February 7th, 2011
The camera is empty. The photos are uploaded. And the souvenirs have been given away. What remains after a trip abroad? A roaring debate in my head about whether reward points are a waste of time and effort or if they’re a nifty way to save money. I have experience to support both views.
• Reward points are the enemy: A month after I returned, I’m still working on claiming my frequent flyer mile credit. The many segments of my trip were handed off to other operators so I face a complicated online form to get credited. The form requires a special 13-digit code that, alas, can be found only on the bigger section of boarding pass (the part that the flight staff keeps as you board). Plan B means I’m still scanning and e-mailing the little stubs of tickets a month later. Knowing that the cheapest round-trip flights on this airline cost 25,000 points, I’ve spent 4 hours to earn 1/4 of a trip. Yikes. The only
Tags: Points, Reward Points
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Oklahoma Bankruptcy Courts Continue To Be Closed Due To Winter Weather
Posted on February 4th, 2011
Due to the inclement weather, the bankruptcy courts for both the Eastern and Northern Districts of Oklahoma will be closed Thursday, February 3, 2011.
The United States Trustee for the Northern District of Oklahoma has continued the February 3rd Meetings of Creditors to February 18, 2011. The meetings will be held at the same times as previously scheduled.
CM/ECF will remain available for electronic filing during court closure.
Life After Debt
Posted on February 3rd, 2011
Paying off your debt is kind of like vowing to lose 50 pounds and then reaching your goal. Ta-da! It’s the moment you’ve been waiting for, but when it arrives you might find yourself thinking “Now what?”
First of all, awesome job paying off what you owed. It takes dedication and planning to pay off debt, and many people struggle with it endlessly, unable to make it happen. But not you!
It’s a new chapter in your financial life. A chapter where you are debt-free and devoted to not slipping into debt again. It takes dedication to stay within your budget and to spend less than you make, so remember not to get too relaxed and let your finances slip.
You’re also going to need a new financial game plan. This information and budgeting worksheet can help. Without debt payments, you’ll have an extra chunk of money to put toward something else. Financial experts highly recommend:
1. Creating an emergency fund with six months worth of living expenses, and 2. Contributing to y
Tags: Debt
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2 Important ways in which consolidation of credit card debts can be done
Posted on January 31st, 2011
If multiple credit card debt is what bothers you, then you must have considered various debt solutions that can help you get rid of this problem. One such solution is credit card consolidation. Under this process all your multiple bills are combined together to form a single debt that you need to pay towards. This method can be availed if you are not having any difficulty in making the minimum payments towards all your bills.
There are various ways in which you can consolidate your credit card bills. Out of all these ways there are two ways that must be known as they are the most important ones. These ways in which you can consolidate your credit card debts are as follows.
1. Taking out a debt consolidation loan: In order to pay off all your debts you can take out a debt consolidation loan. With this loan you can pay off all your debts and then pay only towards this loan. One of the greatest advantages that taking out a debt consolidation loan provides you with is that you get the loan at a very low rate of interest.
Tags: Card, Credit Card
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International Travel: How to Budget Wisely
Posted on January 27th, 2011
Last month, I shared with you how to tackle airfare, which is the most expensive item in most itineraries. In my case, Vietnam and Thailand are really affordable—flights accounted for 80% of the final trip cost. With my visa, immunizations and plane tickets in tow, I could then figure out the rest. In fact, because my destination was so affordable and the US dollar went a long way, I had a new challenge: how to spend wisely so I got the most out of the trip.
Here’s some lessons on planning an itinerary so you’re satisfied at the end:
• Stick to what matters to you. Narrow down your general idea of the trip—from “outdoorsy,” “urban,” or “eco-friendly,” to specifics. In my case, I narrowed my goal from “cultural” to “see everyday life unfold.” That made me cross off luxury hotels and nightclubs, which are devoted to foreigners. Instead, I dove into the throng of locals at nighttime food festivals. Instead of spending time on s
Another Way To Protect Your Income Tax Refund When You File Chapter 7 Bankruptcy
Posted on January 26th, 2011
At this time of year, many people filing Chapter 7 bankruptcy lose their not-yet-received income tax refund to the bankruptcy trustee.
The generally applied rule here in eastern Oklahoma is that if a person files his income tax return, then files Chapter 7 bankruptcy before he receives his income tax refund, the Chapter 7 trustee will likely demand turn over of the refund (except for any portion due to the earned income credit) when the debtor receives it if the refund is of a significant amount (generally $1,500 or more).
This is why I always make sure that my clients who expect to receive an income tax refund know that they need to get their refund in hand and spend it on reasonable and necessary expenses before filing their bankruptcy case.
Tags: Bankruptcy, Income Tax, Income Tax Refund, Tax Refund
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