Bankruptcy: Life’s not fair but there’s always hope
“I can’t believe this is happening to me. Life’s not fair. I haven’t done anything bad. Why do I feel like I’m being punished for something I didn’t do?” These…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Your debt problems and the Tower of Babel
PREVIOUSLY, we talked about Noah who was instructed by God, my God, the God of Moses and Israel, who sent His only and beloved Son Jesus Christ, to us and…
IRS to expand audits to prior year and subsequent years
THE Treasury Inspector General for Tax Administration (TIGTA, an agency that oversees the IRS) instructed the IRS to expand audits to prior and subsequent years. This means that if IRS…
Jury awards $3.25 million to employee for discrimination and retaliation
DISCRIMINATION based on disability, race, sex, or other protected characteristics are prohibited by law. The law prohibits not only intentional discrimination, but also practices that have the effect of discriminating…
Great news for borrowers with foreclosure or short sales
THIS article is from bankrate.com. As I have been hoping with predicting is that lenders will continuously change guidelines to help homeowners that went thru the recent mortgage crisis due…
Don’t let excessive Debt ruin your future
A client of mine said he never saw it coming. Everything he ever wanted in life, he always purchased on credit. The “pre-approved” credit cards just kept coming in the…
3rd Case Report of California Certified PA (Public Insurance Adjuster) Jae Park; Water loss at Diamond Bar, California.
3rd Case Report of California Certified PA (Public Insurance Adjuster) Jae Park On March 2012, a homeowner of two-story single-family home in the Los Angeles County community of Rowland Heights…
Inherited IRA not exempt in bankruptcy
YOUR father’s last will and testament gives you his IRA of $180,000. He died yesterday. Next week you file for Chapter 7 bankruptcy relief because your credit card debt of…
The two main ingredients of our housing recovery is still missing
THE News again is very confusing, one day you will hear market condition is getting better, the next time you tune into your news you will hear that all of…
How employees can protect their rights at work
EMPLOYEES may experience unfair practices at work such as the non-payment of overtime or missed breaks, wrongful termination, unlawful deductions, discrimination, or sexual harassment. How can employees protect themselves against…
Don’t know what to do about debt problems?
IF YOU are searching for debt reduction solutions, no doubt you’ve been inundated with advertisements for various debt management programs, companies and solutions. The choices seem confusing to the average…
Your giant debt problems and David & Goliath
GOLIATH was a Philistine giant who was 9 feet tall. The Philistine army had gathered for war against Israel. The two armies faced each other. Israel’s army was led by…
Should you file a tax return even if you are not required to?
LET’S discuss reasons why you should consider filing, even you are not required to: 1. You expect a refund. You have credits that can generate a refund – from taxes…
The advantages of collective action for employees
Q. I AM thinking of filing a wage claim against my former employer for unpaid overtime hours and breaks I was not provided. Some of my fellow employees, who suffered…
Mortgage guidelines set to be easier, foreclosed clients might be able to buy sooner than expected
THE new rules to streamline the mortgage application process might come into effect after this summer. By the end of August, regulators will release a “softer” version of rules overseeing…
Why file bankruptcy?
LIKE most people, you’ve probably heard a lot of negative things about bankruptcy and that how filing could be the worst mistake you’ll ever make in your life. And like…
Can the IRS disregard compromise settlement because of bankruptcy?
THE situation we envision in this discussion is where you have an offer in compromise which has been accepted by the IRS then you file for bankruptcy relief. Do you…
10 tips on mortgage debt forgiveness
IF your mortgage loan is forgiven, you end up with income from cancellation of debt. Here are 10 tips to exclude the forgiven debt from your income. • Cancellation of…
2013: The final year of the short sale
LENDERS as I thought are more aggressively helping homeowners modify their mortgages. I have seen more loan balance forbearance lately. Another term for that is a loan modification with a…
10- to 12-hour shift employees must be entitled to additional pay
Q: I WORK as a nurse in a hospital on a 12-hour shift, three days a week. Because of the realities of patient care, we often find ourselves working an…
The evolution of your toothbrush
WHERE WOULD WE BE without our toothbrushes?! Today personal dental hygiene is easy with convenient tools like toothbrushes and floss. But have you ever wondered what people did before modern toothbrushes?…
Chapter 13: You can become debt-free sooner than you think
CHAPTER 13 is the section of the US Bankruptcy Code that allows individuals in the United States to reorganize their finances. If you are having difficulty paying your debts (credit…
Debt problems? Think of Noah Part 3
(Part 3) We ended last week with God, my God, the God of Moses and Israel, who sent His only Son, Jesus Christ to this world, and through the Blessed…
Short sales in California: Q&A
A short sale occurs when you sell your property for a price that is short of the balance owed to avoid a foreclosure – with the consent of your lender….
How not to overpay for a property because of the shortage of homes for sale
FOR the past year or so there has been real signs of the inventory of houses for sale to be really low, in fact all time lows. Usually an average…
How important are your pay stubs?
Pay stub case settles for $8.25 million We have previously written about the issue of confusing pay stubs and the employees’ remedies should they have trouble figuring out what they’re…
How many times can you apply for loan modification?
You need to be aware that if foreclosing proceedings have begun and your application has been denied, you may not have enough time to submit a new application andre-apply especially…
Debt problems? Think of Noah
MOST people have heard of Noah and his ark. But why did God, the God of Moses and Israel, my God, whose only Son Jesus Christ, willingly became incarnate through…
How IRS agents evaluate evidence
THE IRS is back. In full force. Leaner. Stronger. After reeling from congressional hearings and keeping a low profile for many years, the IRS reorganized and is back. Their mission…
Are employees required to sign a release to get their final paycheck?
“ An employer shall not require the employee to sign a release of the employee’s right to any wages that are due and earned by the employee, unless those wages…