09 Jan
Posted by Marcus Lovegrove as Credit Score Services
It’s a buyer’s market in the world of real estate right now, and many of my late-20s peers are itching to snatch up a house with prices and interest rates so low. But most of us either don’t have enough savings or enough credit history to qualify. According to data from the National Association of Realtors, that means that first-time homebuyers are becoming rarer in the market, and those who do buy are turning to their parents for help.
“First-time home buyers fell to a 37 percent market share in the past year from a record high 50 percent in the 2010 study,” said NAR President Ron Phipps in a release accompanying the November 2011 study. “Although last year’s findings were boosted by the home buyer tax credit, long-term survey averages show that four out of 10 buyers are typically first-time buyers. T
Social security payments are exempt from garnishment under federal social security statutes. The IRS has collection remedies significantly more powerful than a creditor’s collection tools under state law. A CPA asked me the intersection of social security exemptions and IRS collections: can the IRS garnish a taxpayer’s social security check.
Section 6334 (c) of the Internal Revenue Code (26 U.S.C. 6334 (c)) allows Social Security benefits to be taken to collect unpaid Federal taxes. If your monthly benefit is more than $750, the IRS may garnish fifteen percent of your social security monthly benefit for taxes that are at least six months in arrears. The IRS is required to notify you before it begins to garnish , and you can appeal the garnishment for”hardship.”
This rule is common sense. People w
The 9th Circuit Bankruptcy Appellate Panel recently upheld sanctions imposed by the Bankruptcy Court against California lawyer, Gregory Orton. The BAP found that Mr. Orton “clearly” violated Rule 9011 and that he provided information on bankruptcy schedules that was false and misleading and that he later failed to amend the schedules. The BAP went so far as to say that Mr. Orton’s and the debtor’s conduct was “probably criminal” although it was only presented with the question of civil sanctions. Mr. Orton blamed his client for not providing truthful information, but admitted that he should not have filed the case without seeking clearer information from the debtor.
Read full post…
30 Dec
Posted by Hayley Crosby as Credit Score
Happy New Year everyone!
2011 was a wild year in America and also around the world.
Let’s hope this year will bring the start of a recovered economy and better lifestyle for all of us. Let’s hope the average credit score in America for 2012 goes up and helps Americans get the things they need.
More Americans will be hoping to buy a home in 2012 now that the prices have dropped and there are great deals on good homes.
Which leads me to our topic of 5 credit repair tips and techniques you can use in 2012 to improve your lifestyle, save yourself thousands of dollars and make your life easier.
Buckle Down Now that the holidays are over, it’s time to buckle down and save as much of your hard earned paycheck as possible. The holidays can take a lot out of your pocket, but luckily the first quarter of the year helps make up for it. Before summer hits, use this time to put away a portion of your paycheck each month. That money might go towards a new car or your dream home! If you need help with your budget, there is a specialized Budget Guide that comes with the Credit Repair Doctor™. The budget guide is easy and quick to use and it takes the lameness out of budgeting. It also helps
16 Dec
Posted by Marcus Lovegrove as Credit Score Services
Savings Accounts and Money Market Rates provided by 12 December 2011 Europe took a major step toward resolving some of its debt woes late Thursday and into early Friday. According to The New York Times, the European Union has agreed to change its treaty to require a greater degree of fiscal responsibility from member nations.
The new treaty requires countries in the European Union to limit their deficits to no more than 0.5 percent of their gross domestic product, though that rule can be bent under certain circumstances. It will also impose penalties for those who break that rule and require a greater degree of information sharing.
The treaty did not garner full support of all member nations, with the U.K. Read full post…
13 Dec
Posted by Hayley Crosby as Credit Score
I subscribe to a legal question and answer website where individuals ask questions about bankruptcy and attorneys, like me, answer them. In the last couple of weeks a number of people inquired whether or not it’s necessary to hire an attorney in order to file bankruptcy. The legal answer is no. It is not a legal requirement to have an attorney to file bankruptcy. In fact, I tell this to every potential client that comes into my office. You are under no legal obligation to hire an attorney to file bankruptcy.
However, the practical answer is different. Do I think it is imperative to hire an attorney to file bankruptcy? Absolutely.
While some bankruptcy cases are routine, the bankruptcy laws are complex, and it can be easy to screw up your case if you don’t know what you’re doing. If pr