Budget – not a dirty word (when you put it in perspective).

Written by: leonora  |  Published on: October 11th, 2013

I have a confession, I think about budgeting and money a lot. My husband would say too much. Being around people that run into financial problems (not necessarily because of poor budgeting) makes me be that much more focused on money. Running my own business, gets me to think about budgets and money. Running our household makes me think about budgeting. Did I mention that I think about money and budgeting? A lot. Having a wedding didn’t help my “problem.” We just had a wedding, which in large part I planned. My husband did the obligatory meetings and listened as [...]


Written by: leonora  |  Published on: June 26th, 2013

REASON 1 – YOU WILL PROBABLY BE GETTING MARRIED SOON AND MERGING YOUR FINANCES You are probably going to get married. And with that comes the oh-so-fun merging of the finances. I can assure you that it is a lot better to be the person saying, “yeah, once upon a time I filed for bankruptcy. I learned a lot. I don’t have any debt now, other than my student loans, and I have managed to save for retirement and put money away for a rainy day since that time. Oh, and because it was a while ago, my credit is [...]

“Fiscal cliff” bill extended the Mortgage Forgiveness Debt Relief Act and Debt Cancellation for another year.

Written by: leonora  |  Published on: January 10th, 2013

The Mortgage Debt Relief Act of 2007 was set to expire on December 31 2012; however, it was extended for another year, which is a pretty big deal for people who are facing a foreclosure, short-sale or a deed-in-lieu (of foreclosure). Foregoing other reasons why I think the last 2 options, respectively, are not a great for most people, let’s examine why this is still great for people who are facing the tough circumstances of losing their homes. Let’s first talk about this Debt Cancellation or Phantom Income and how this would normally be treated. To add insult to injury [...]

I got sued by a debt collector. Can I still file for bankruptcy?

Written by: leonora  |  Published on: February 28th, 2012

What if they filed a lawsuit against me, can I still file for bankruptcy and get rid of this debt? I hear this question a lot. The answer is yes, but I understand how having a lawsuit filed against you can be both stressful and confusing. Lawsuit filed against you Usually the original creditor (like American Express Centurion Bank) or a debt collector will file a lawsuit. You will know that a lawsuit was filed against you when you get a pretty hefty set of documents. The first page is likely to say “Summons” and the second page will be [...]

Fraudulent Debt Collectors from India stopped by FTC!

Written by: leonora  |  Published on: February 27th, 2012

For several years, fraudsters from India targeted people that used payday lender services and collected millions of dollars from victims. Payday lender services are usually used by people as a last resort way to borrow money when they have no other option. The reason it is and should be a last resort way to borrow money, is because interest rates on such “loans” are nothing less of outrageous. As such, people using payday loans are usually ones facing extreme financial hardships. These fraudsters, based out of India, somehow were able to access information about the borrowers and posed as debt [...]

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