07 Oct
Posted by: Aaron Dugdale in: Bad Credit News
A judge has ordered that the Chapter 7 bankruptcy case of Georgia candidate for governor Nathan Deal’s daughter and son-in-law be reopened, after new details emerged about the son-in-law’s financial history.
The bankruptcy filing took place in 2009. It stemmed from the failure of a sporting goods store by Carrie Deal Wilder and her husband Clint Wilder, according to the Atlanta Journal-Constitution.
Reopening the case is the result of the U.S. Bankruptcy Court judge’s decision that Clint Wilder was not eligible to have his debts discharged because of a previous bankruptcy he filed in 2001.
In Chapter 7 bankruptcy law, you must wait at least eight years between Chapter 7 bankruptcy cases. Even if you pass the means test, if you recently filed you may not be eligible to file again.
Wilder’s Chapter 7 bankruptcy would have fallen within this 8-year window, making him ineligible to file for another bankruptcy. Wilder
05 Oct
Posted by: Brianna McCaffrey in: Bad Credit News
Facebook maybe one of the, if not the most, popular social networking websites over the Internet but because it offers a wellspring of personal information to people online this gives identity and cyber thieves a chance to steal information. And a security consultant just showed how easy it was for that to happen.
Ron Bowes, the security consultant, had uploaded a program he had designed that allowed him to scan over 171 million accounts on Facebook that were “open access”. The number of accounts he had downloaded information from were more than one-third of the total 500 million users in Facebook. After he downloaded and compiled the information, Bowes then browsed through the files to view the names, addresses, cellphone numbers, and other personal information of Facebook users.
Though many consider this showcasing of personal information to be harmless at first, they could still make the Facebook account owners more vulnerable to identity thieves and cybercriminals. Bow
If I agreed to loan you $5,000 but told you you had to repay $40,000, would you do it? Of course not. More and more lenders are popping up, offering such “help.” Most of these loans have outrageous interest rate ranging from 100% – 800% and up. Yes. You read that right – 800%.
I had to take out a calculator to do the math on this Cashcall loan. The rate sheet does not give you the total amount you’d repay over 84 months. 84 months is 7 years. $486.58 * 84 = $40,872.72.
Common!
I’m just guessing here but a person would have to be pretty desperate to take out such loans. In fact, this is what every person who has taken these loan tells me – “they offered me money and I really needed it.” What’s particularly offensive is the “we understand” language on their home page:
At Cashcall, we understand that life can be unpredictable. That’s why we offer a q
A lot of us think that putting our money in the bank is a secure and wise way of saving. Yes, this is correct if we are wise in working with banks. Banks are not charitable institutions, these are profit-driven entities which charge different types of fees and do a variety of schemes to take away a number of your money. The savings that you could get in being wise for making bank transactions can add up as time passes and let you use your hard earned money where you want to.
Below are great tips on how to effectively cut costs in the bank:
Mind the opportunity cost, Think about the factors which are inside your money in the bank. Are there fees how the bank is suggesting that you purchase keeping and using your own money? Just how much? Could they be requiring a minimum balance for holding an account? You may be interested in other options that are available available, waiting for your investment. You should always factor in the opportunities that you are missing out on since you are putting your hard earned money within the bank.
03 Oct
Posted by: Brianna McCaffrey in: Bad Credit News
I was asked this question by the family friend the other day. The kid is 27 years old, educated, works for some Chase Commercial division downtown, makes $110,000 a year and has debt collectors calling. Besides he has other debt. He had good credit for 7 years. Started building in college sophomore year. After graduating he managed the credit well for some 3 years and had high scores, supposedly in low 800s. Things spiraled south then. His deferred student loans came due, the condo association fees kicked in (builder paid them for 2 years), the adjustable mortgage went up a bit, and on the top of it he had to take a 20% pay cut. So before that pay cut he was banking close to $138,000. Now he owns close to $26,000 in credit card debt which collectors hold, plus another $8,000 which is still with original creditors, I don’t think for too long. His student loan payment is $927 per month, then of course, housing expenses that amount to some $3,200 monthly.
02 Oct
Posted by: Aaron Dugdale in: Bad Credit News
The Catholic Diocese of Wilmington, Delaware, has announced the plan that it will follow to reorganize after emerging from bankruptcy.
The plan includes details on how the troubled diocese will face more than 100 civil lawsuits in the near future.
The lawsuits are in connection to claims of abuse by priests. These accusations and the accompanying lawsuits led the diocese to file bankruptcy last year, according to an article in Delaware Online.
The diocese had to announce the reorganization plan as a result of bankruptcy procedure, said Wilmington Bishop Francis W. Malooly. The reorganization plan is not, he said, a result of conceding that the church would discontinue its attempts to settle with individuals claiming abuse outside of court.
“While the plan is not supported by all creditors at this time,” he said in a statement, “its filing comes after months of negotiations. A glo