Shooting for the stars

Lloyd Manglapus’ work is literally out of this world. The 42-year-old Manglapus is one of two Pinoys part of NASA’s historic and newest Mars rover called “Curiosity,” as it roams the red planet. Manglapus works at NASA’s Jet Propulsion Laboratory (JPL) in La Cañada. He’s been at JPL for the past 12 years, with six…

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Are your debt problems forcing you into bankruptcy?

ARE you having problems paying your debts? Are creditors calling you day and night threatening you with a wage garnishment, repossession or foreclosure? Are you starting to feel hopeless and depressed about your situation and don’t know where to turn for help? The last few years have been tough for a lot of people. You…

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Healthy smile, healthy outlook

WHILE each dentist may focus on different priorities in their practices, we all preach the same mantra: Take care of your teeth, and they’ll take care of you. Teeth begin to develop before birth, and throughout our lifetime are responsible for allowing us to process the foods that will keep us healthy, while enabling us…

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IRS collection enforcement on unpaid taxes

The IRS has different ways of collecting unpaid taxes. After collection notices prove ineffective, more drastic collection enforcement – ranging from imposition of federal tax lien on personal and real properties, levying of bank accounts to garnishing of wages, social security benefits and pensions – is undertaken. A bank levy is sent to a bank…

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Mortgage debt relief act: One step closer to an extension

Some encouraging news for financially stressed homeowners across the country: The Senate Finance Committee approved a bipartisan bill before heading home for summer recess that would extend the Mortgage Forgiveness Debt Relief Act through 2013. Don’t jump yet, given the majority of Republicans in the House that might have serious objections, we will know in…

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Are you looking for a solution to 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 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…

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Bankruptcy: When life doesn’t go as planned

LIFE just happens. Sometimes even the best laid plans can go wrong. How do you respond when this happens to you? Do you easily give up when you’re overwhelmed? Remaining calm can be difficult when things are chaotic so the usual reaction is panic. As a bankruptcy attorney, I often see this when people are…

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Why have a Family Advisory Board?

(Part 2) THE composition of the board should complement the knowledge and skill set of the owners. Good advisory boards will have at least one member with strong financial skills, one with good content or industry knowledge, and others with strong business backgrounds. However, board composition can change over time depending on a number of…

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Eliminating tax debts through bankruptcy

Another weapon in the taxpayer’s arsenal that stops the IRS in its tracks is bankruptcy.  The filing of a bankruptcy petition will generally stop the IRS from collecting your tax debts.  This article will discuss what taxes are covered and how a bankruptcy petition can freeze IRS collection activities and even eliminate your tax debts….

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Take control of your finances and your life

YOU’VE probably heard the saying, “The failure to plan is a plan to fail”.  And yet so many of us don’t realize how we so easily neglect to plan for our financial future.  Ask as many people as you can what kind of financial planning they have done for the next 5-10 years and see…

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From packing bagels to handling million-dollar ad campaigns

A MULTICULTURAL advertising agency in Toronto owned by two Filipino women recently won the top award for print in the annual Summit International Awards, highlighting the two immigrants’ incredible journey from packing bagels in a factory to handling multi-million dollar marketing campaigns for major companies. AV Communications, owned and managed by Filipino partners Anna Maramba…

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Why you need to escape the debt trap

IF YOU are buried in debt, you may be feeling trapped at the moment with no way out. You realize you need help but don’t know where to go for help. You may even be embarrassed about your situation that you find it uncomfortable to turn to family and friends for help.  So you try…

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Loan modification companies might be a thing of the past!

CALIFORNIA  would prohibit the charging of advance fees to homeowners in connection with a loan modification, and require anyone who wishes to charge a fee for loan modification services (after performing them) to provide a state mandated notice beforehand regarding the availability of non-fee options for the borrower. Tens of thousands of Californians face default…

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Countdown to the perfect wedding smile

Every bride dreams of walking down the aisle, stunning white dress cascading behind her, beaming groom waiting to take her hand.  But wait – are the smiles photographer-ready, all set to feature in photos that will be viewed for generations to come? Whether you’re the bride, groom, member of the wedding party or honored family…

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Common fears about bankruptcy are false

IF you are struggling with serious debt problems and the idea of filing for bankruptcy has crossed your mind, like most people, you may have some “fears” about bankruptcy that you have not been able to discuss with anyone.  Usually, these “fears” stem from what we have heard about bankruptcy from co-workers, family or friends. …

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Foreclosure Protection Bill passing in California

NOW when lenders pursue foreclosures and simultaneously negotiate with clients to modify their mortgages so that payments become more affordable. Homeowners will not wind up being evicted even though they had been working with the bank to modify their loans in order to avoid foreclosure. This Bill will favor banks because no lawsuit can go…

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Why have a Family Advisory Board?

“IF there were only one “success strategy” I could recommend to a family business, creating an Advisory Board would be that strategy.  In times of crisis, the Advisory Board can act as a safety net for both the family and the family business,” says top family business expert Don Schwerzler., founder of the Family Business…

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How to pay your taxes by installment

PREVIOUSLY, I discussed ways on how to request the IRS to reduce your tax liabilities, which is accomplished by means of an Offer in Compromise (OIC).  In this article, I will discuss how you can pay your tax liabilities by installment if an OIC does not work for you. As discussed before, an OIC allows…

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Who needs to file bankruptcy?

NO ONE ever likes to talk about bankruptcy. However, it’s simply a fact of life. Things happen. Whether it’s losing your job, going through a divorce, having huge medical bills that you can’t pay – or sometimes simply making poor financial decisions- any of these can lead to bankruptcy. It’s a scary thing to a…

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Living The American Dream

IT STARTED out simple. A local restaurant was up for sale near their home so Flores, then a commercial real estate agent in 1976, purchased it. It was a gift from a son to a mother — a gift to fulfill her immigrant dreams of becoming an entrepreneur and owning a restaurant one day. The…

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