Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
STATISTICS show that approximately 1.5 million people file bankruptcy in the United States every year. There are different reasons for filing- unemployment, foreclosure, medical bills, overwhelming credit card debts, etc. Some of these reasons are beyond anyone’s control. But some of them are also self-caused (example: lack of planning, mismanagement of finances). No one is…
(Part 1) IF YOU have debt problems, think of Samson. Samson lived in Israel about 1200 B.C. Before he was born, the Israelites betrayed the one true God again by going back to their ungodly ways. God punished the Israelites by delivering them over to the Philistines who worshipped the false god Dagon. Thus, the…
CALIFORNIA law prohibits discrimination based on disability or medical condition. An employer may not terminate or discriminate against an employee in compensation or other conditions of employment based on the employee’s disability or medical condition. Arkady Kivman worked at Aeros Aeronautical Systems Corp. as a production technician. In 2007, he was injured and had surgery….
A CONCERN that is growing rapidly is the cancellation of mortgage foreclosures. Although these are leading causes, they are not the only ones; cancellation of debts could be from consumer debts, bank and finance companies as well. For debt cancelled due to a mortgage debt, the option I would suggest homeowners to know about is…
“Federal and state collection laws prohibit abusive collection tactics but the reality is that a lot of bill collectors do not follow these laws and will make your life miserable by harassing you for payment.” IF you are delinquent on your debts, you may be able to avoid dealing with the bill collectors for a…
IF YOU have debt problems, think of seven loaves of bread and two fish. A crowd of 5,000 men, their wives and children, making the crowd about 15,000 to 20,000, had been listening to Jesus talk in the wilderness. On the third day, the disciples of Jesus told Him that He should send the crowd…
Background WHEN is your return free from IRS audits? From your perspective, statutes of limitation prevent the IRS from collecting a deficiency in tax or beginning a civil or criminal case. In short, statutes of limitation provide a date of finality after which the IRS or the taxpayer can take no further actions. We all…
(Unpaid internships may be illegal) ERIC Glatt and Alexander Footman worked as unpaid production interns on the film Black Swan. In September 2011, they sued their employer, Fox Searchlight, to recover wages. An internship may be an essential part of an established course of an accredited school or of an institution approved by a public…
RESEARCHING blog site like loansafe.org, I have come across a few loan mod success that might excite you with their stories. I thought I might share it with you: “First of all, I wanted to say a special thank you to Loan Safe and it’s members for the valuable and knowledgeable information that it provides….
Humans are similar, with one big difference. We have adult teeth (these are our “working teeth”) and we have dental lamina. What we don’t have are substitute teeth. While most vertebrates can replace teeth until the day they die, human teeth replace themselves only once. The million dollar question is, why do replacement teeth stop…
WHEN your financial circumstances are forcing you to declare bankruptcy, it is one way of dealing with debts that you can no longer manage on your own. Of course, the decision should not be taken lightly and it is best to consult with an experienced bankruptcy attorney to see if it is best for your…
LAST week we talked about King David and his lust for Bathsheba. As punishment for King David’s sins of coveting Bathsheba who was Uriah’s wife and murdering Uriah so he could marry her even though he already had 6 wives and numerous concubines, the first born son of David and Bathsheba died several days after…
IN July of each year, the Franchise Tax Board of the State of California mails Questionnaire Form 4803 to taxpayers who claimed Head of Household status the previous year. Do not ignore this questionnaire. Mail it back within 20 days; otherwise, it becomes final. You’d have to go to appeals to fight it. If filled…
Q: I WORK as a kitchen staff in one of the busiest restaurants in Los Angeles. I often work 10-to 14-hour days but I am not paid overtime. Also, even though my supervisor says we are entitled to a 30-minute lunch break and 10-minute rest breaks, there is no one to relieve me from my…
MANY homeowners with first or purchase mortgages also add on second mortgages such as home equity loans. Unfortunately, job loss and tough economic times can cause homeowners to become delinquent or even default on second mortgages. Lenders holding defaulted second mortgages sometimes write them off, though those loans’ borrowers may still face certain consequences over…
Cleaning your teeth properly includes cleaning between you teeth, and the best way to clean between your teeth, and the other places your toothbrush can’t reach, is with flossing. A great deal of attention is given to cosmetic dentistry these days. It’s easier that ever to get a bigger, brighter, whiter smile. But just as…
“ When you are overwhelmed with debt problems, the situation becomes even more challenging when you have a family that you are supporting. Your paycheck may not even be enough to pay for basic living expenses like mortgage payments or rent, food, clothing, etc., let alone pay your monthly debt obligations.” ARE your debt problems…
SOMETIMES you wonder why you acquire so much debt without really thinking about it. Client makes $20,000 a month which is high income. When his home increased in value in 2006, he obtained a home equity loan of $300,000 and used that as down payment to buy two McMansions. With 3 houses and $1.5 M…
HERE are 10 tips for students with summer jobs: 1. Fill out Form W-4 (Employee’s Withholding Allowance Certificate). This form is used by employers to determine the amount of tax that will be withheld from your paycheck. If you have multiple summer jobs, make sure all your employers withhold adequate amount of taxes to cover…
WHILE visiting someone else’s home or place of business, a person may become seriously injured. Such injuries may have arisen as a result of wet floors, uneven steps or floors, falling objects, defective elevators, defective roadways and sidewalks, poorly lit staircases, inadequate security, dog bites, and other dangerous conditions on the premises. Building and home…
FANNIE Mae and Freddie Mac are the leading indicator and director of mortgage interest rates. You and I are at their mercy to keep rates low in order for more homeowners to be able to buy or refinance to a cheap rate. But when the company reports a quarterly profit of over $50 billion, it…
THE government announced last week that it was extending the application deadline to apply for relief under MHA (Making Home Affordable Program) but only through December 31, 2015. Thus, for homeowners who are still struggling to keep their homes due to unaffordable mortgage payments, this presents a limited-time opportunity. Home values are also starting to…
WHAT are the 4 questions in ‘Passover Seder”? Passover Seder is a ritual feast held in the homes of Jewish people as part of the Passover celebration. They celebrate this for a week every year. This year it was celebrated in March. What is the ‘Passover’? About 3,300 years ago, the Jews were slaves in…
WHILE there are no guarantees to avoid an audit, there are creative ways to attract one. Below are 12 easy ways to increase your audit profile. Try any combination to help the IRS zero in on your return: 1. Opt out of e-file to use a name different from the one that appears on your…
Q: I WORK as an hourly employee for a private business. There are days when I work more than 8 hours per day. However, instead of paying me overtime, my employer gives me comp time for the hours I worked. What are my rights regarding this employment practice? A:California law allows non-exempt employees to receive,…
YOU can’t hear enough about the fact that mortgage rates are at record lows! Its absolutely true, I have been in the mortgage and RE business for over 25 years and when I started everyone was refinancing out of a 12% rate to a 9% rate back in the later 80’s. Here we are in…
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 consumer. The truth is that every situation is different and what may work perfectly for others is not necessarily going to work the same way…
Recipients get packages in 7-10 days South San Francisco, Calif., May 30, 2013 – LBC continues its tradition of innovation and excellent customer service by introducing air cargo with free pick- up service. LBC customers in New Jersey, California, Oregon, Washington and Las Vegas can now send through Air and enjoy parcels to be delivered…
PEOPLE with heavy debt think that they have serious problems in life that are almost unbearable. “Attorney, we can’t sleep because our creditors are hounding us day and night! They threaten us with lawsuits and wage garnishment and bank levies!” Well, yes, if you have too much debt, it does create a financial problem for…
IF YOU run your own business, consider employing your children this summer vacation. Employing your children gives you a triple benefit: 1. It teaches your children the virtue of work and the value of money. 2. It could save you around 27 percent by shifting income down from a maximum rate of 35 percent for…
