What does a ‘fresh start’ after bankruptcy mean?
LET’S give bankruptcy a historical and legal perspective. Right now, when we say bankruptcy law, we refer to the federal law called the “Bankruptcy Code” of 2005. Creditors did a…
Category: Consumer Columnists
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Warren Buffett’s investing style
WARREN Buffett, the world’s greatest investor, loves value stocks – stocks that are trading below their intrinsic value. He uses investing tenets which are categorized in the areas of business,…
Thinking of filing bankruptcy? 5 questions to ask yourself
ARE you constantly worried about your finances because of debts that you can no longer afford to pay? If you are in more debt that you can repay, you may…
Accommodating employees with mental disability
KIMBERLEE Gutierrez worked as a patient registration clerk for Dignity Health for 9 years. Kimberlee had a history of mental disability, which worsened when she was violently attacked by an…
How is life after bankruptcy?
MANY people who need debt relief are afraid to file for Chapter 7 or Chapter 13 because they fear that life after bankruptcy will be difficult. The fear is that…
Warren Buffett’s advice during a market crash
6. Avoid Leverage That Amplifies Stress During A Market Crash: Sure, there’s stress during a crash – lots of it. Add margins (meaning loans that you incurred to buy more…
Ignoring debt problems now can be painful later
WHEN people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their debts and avoid contact with creditors. They think…
Is a $1-million SBA loan dischargeable?
THE client is 66. He purchased a business about 10 years ago for $2 million. He put in $500,000 of his own money and borrowed a $1.5 million small business…
Home health employees are entitled to overtime
Q: I am a registered nurse in the Philippines but I have not yet obtained a license in California. However, I am working as a ‘private nurse’ to a bed-ridden…
Are you entitled to ‘show up pay’?
Q: I WORK as an on-call employee for a healthcare facility. My employer often calls me to report for duty but when I arrive to work, my assignment is cancelled…
Warren Buffett’s advice during a market crash
Part 1 of 2 INVESTMENT guru Warren Buffett said that when the going gets tough, the tough goes shopping. No, he didn’t say that actually, but he did suggest that…
To people who are facing a financial crisis
IF you’ve ever found yourself financially broke or buried in debt at one point in your life, I’m sure you still remember how it felt. The feelings of despair and…
The emotional and illogical side of investing for beginners
“ If stock prices move contrary to our expectations, it creates tension.” A MOST important tip for trading is to keep your emotion in check. Use logic, not emotions. Do not…
Are your debts growing faster than your income?
ARE your growing debts starting to worry you and cause you sleepless nights? Are you trying hard to pay what you can every month but feel like you’re just running…
The employer’s duty to a “permanently disabled” employee
LARA May (not her real name to protect confidentiality) was a dedicated and long-time employee for ABC Equipment Co. She was injured at work and had to take an extended…
Client with $300K credit cards successfully passes US trustee exam
THIS client case is unusual. She is young at 28 and owes about $300,000 of credit cards. She used these cards to fund a “gift card” business. What’s a “gift…
Stock checklist for beginners
1. Learn the Basics Familiarize yourself with the following basics before making your first purchase. • Definitions – Price earnings ratio (P/E ratio), earnings per share (EPS), return on equity…
Want to buy a house someday but too much credit card debt?
LIKE most people, you’ve probably heard that filing for bankruptcy when you are in debt will ruin your credit forever and that you will never be able to buy a…
Chapter 7 or 13? A look at a case with $50K debt and $10K collection lawsuit
THE first client is 48 and has just been sued for $10,000 by American Express. He recently received the summons and complaint. He is single with one teenager dependent. He…
Employer must pay actual hours worked by employee
JOSE Alvarado worked as a laborer for Timber Works Construction, Inc. in Santa Clara County. Alvarado claimed that the employer required them to sign two different documents. One document contained…
First baby steps for beginner traders
1. Start with safer stocks. Buy stocks that tend to be less volatile (meaning more stable with less up and downs in price). Consider consumer staples stocks that people still…
Mocking an employee’s accent may constitute work discrimination
FILIPINO registered nurse, Nancy Ortiz, worked for Dameron Hospital in Stockton, CA for about 10 years. Born in the Philippines, English is her second language and she speaks with a…
Senior with $60K credit cards wants debt relief
THE client is a 70-year-old widow who lost her beloved husband five years ago. She owns a house with a reverse mortgage of half a million, which she took when…
Q&A for beginners in the stock market (Part 2 of 2)
Should I invest in individual stocks or mutual funds? Unless you are a seasoned veteran, it’s better to invest in pooled funds than individual stocks. There’s danger in picking stocks…
Is going through security checks compensable work time?
CHELSEA Hamilton and Alyssa Hernandez worked for Wal-Mart at its Fulfillment Center in Chino, California for several years. These employees sued their employer in a class action for, among other…
Client with bank account levy seeks Chapter 7 relief
THE client is 60, while his wife is 58. He issued his check to pay rent of $1,200 but the check was dishonored for insufficient funds. The landlord called him…
Q&A for beginners in the stock market
MORE than half of Americans have stocks in their portfolio. If you don’t, you are missing out. Actually, you have been missing out big time. Conservative people keep their money…
Why you should look at your paystubs Incorrect ones entitle you to additional payments
RODERICK Magadia worked as an hourly associate at a Wal-Mart retail store in San Jose, California as a stock associate. After 8 years of employment, Magadia was terminated. During Magadia’s…
Chapter 7 or 13: Which is better?
“The effect of the lowerinterest is to shorten the amount of time it takes to pay off the principal because more principal gets paid with every payment. ” I’VE recently…
Four tax deductions that will not be changing
WHILE nearly all articles relate to change, let’s depart from that norm and discuss a few deductions that won’t change. 1. Student loan interest deduction: The Tax Cuts and Jobs…