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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
California Republicans demand state divert housing settlement funds to struggling homeowners
AFTER a California court found that the state was misappropriating funds from a past settlement with a housing counseling organization, state Republicans are urging Gov. Gavin Newsom to restore the…
Jollibee stock prices drop after LA-based Coffee Bean acquisition
STOCK prices for Philippine food giant Jollibee Foods Corp. (JFC) dropped 8 percent this week, following the announcement that it will acquire the Coffee Bean & Tea Leaf for $350…
SouthBay Pavilion Mall in Carson gears up for second annual International Travel, Trade, and Consumer Expo
All roads will lead to the SouthBay Pavillion on Saturday and Sunday, Aug. 3-4 in Carson, California as industry players from both the U.S. and the Philippines are poised to…
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…
Long Beach Bacolod Association announces small business awardee for Masskara Festival
THE Long Beach Bacolod Association will present the Small Business Award to Romeo Garcia during its MassKara Festival on Sunday, August 4 at Recreation Park. Entrance is FREE and attendees…
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…
SWS: Fewer Filipinos expect economy, quality of life to improve
A Social Weather Stations survey released Thursday, July 25 said fewer Filipinos expect their lives and the Philippine economy to improve in the next 12 months. According to the survey,…
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…
This Filipino chocolatier wants the Philippines to be known globally as a great source of chocolates
IT was a sweet victory for five Philippine chocolate brands at the 2019 Academy of Chocolate Awards in London last June when they garnered a total of 24 awards across…
Jollibee invests $100 million to acquire Coffee Bean and Tea Leaf
Philippine fast food giant Jollibee Foods Corp. (JFC) on Wednesday, July 24, disclosed that it will be acquiring United States-based The Coffee Bean & Tea Leaf (CBTL) through a $100…
All roads lead to SouthBay Pavillion on August 3-4 for trade expo
CITY of Carson, CA. – All roads will lead to the SouthBay Pavillion on Aug. 3-4 in this suburban city south of Los Angeles as industry players from both the…
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…
From skin-colored ternos to Philippine-inspired scents: Pulo Project rolls out second wave of art and design installations in LA
FILIPINO exhibition series Pulo Project is back until August with a new set of art, design and fashion from Filipino and Filipino American creatives. Born as a “passion project” by…
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…
Paid per piece? Make sure you’re paid for all hours worked!
YADIR Ontiveros worked as a technician for Safelite, a company which repairs and replaces vehicle glass for automobiles at various locations in California. Safelight’s technicians are classified as non-exempt employees….
Think tank: Philippines to lose the most in possible US outsourcing ban
The Philippines would be the ‘biggest loser’ in Asia if United States President Donald Trump follows through with his threat to punish American firms that outsource jobs, an independent economic…
Three changes to the general business credit
THE Tax Cuts and Jobs Act (“Act”) makes changes to the general business credit by adding a new Paid Family And Medical Leave Credit and changing the Rehabilitation Credit and…
What causes people to file bankruptcy?
NO matter how the economy does, there are always reasons for people to file bankruptcy. During the period of 2008-2012, more than 1.5 million people filed bankruptcy year after year….
How much debt is too much?
HOW do you answer this question? Let’s check what the Bible has to say about debt. The Bible says that one should neither be a lender or borrower. It does…
What to do if you’re fired and asked to sign a release
AN employee may be asked to sign some documents at the time of termination. One of these documents may be a severance or separation agreement. This is a contract between…
How do you know when it’s time to file for bankruptcy?
THERE are times in life when we’re sometimes caught unprepared for what we have to do in order to deal with an ongoing problem that simply will not go away….
Ex-businessman with commercial lease judgment of $100K seeks Chapter 7 relief
THE client is 50, divorced, and used to own a business that had a commercial lease for retail space. He operated the business for 10 years. On the 11th year,…