Chapter 7 bankruptcy

BECAUSE of the current economic downturn, some people are interested about bankruptcy as a relief to their financial dilemma. I deem it therefore appropriate to discuss bankruptcy and Chapter 7 bankruptcy in particular. Any person who resides or is domiciled in the US can file bankruptcy. In fact, a foreigner who owns property or has…

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10 tips in deducting charitable contributions

• YOU may deduct donations to qualified organizations.  Qualified organizations have tax-exempt status from the IRS. These include corporations or foundations organized in the U.S. for religious, charitable, educational, scientific, literary, or prevention of cruelty to children and animals. • You cannot deduct contributions made to specific individuals – priests, nuns, victims, and political organizations…

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What creditors can do when you don’t pay

“ In some cases you may also be called to appear in court for something called a “debtor’s examination”, in which case, a bench warrant for your arrest may be issued if you ignore it. Sorry, but you can’t mess with the judge!” HAVE you been sued or threatened to be sued by a creditor…

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Dirty business

THE recent $81-million money laundering scandal in the Philippines is a testimony to the dirty, hideous work that is hounding the banking community. It brought a darker shade of reality: that money makes the world go round. Last February 4, hackers broke into Bangladesh Bank’s account at the Federal Reserve Bank of New York and…

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Destination White House: The campaign combat

There is no arguing that Washington is one of the world’s most powerful city.  But  amidst its power,  no one is immune to the spell of the city’s beauty, magnificent monuments, world-class museums, ornate bridges, and lush verdant parks. A gallery pass could entitle one to marvel at the histrionics of long winded senators railroading…

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Appreciating FVR @ 88

Not all are privileged to work with a former Philippine president. But for over 15 years now, I’ve had the blessing of serving alongside former President Fidel V. Ramos, who turns 88 today (March 18), whose love for our country and heart for good governance still ring a bell. FVR, as fondly called by his…

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Healthful data

IS it safe to drink beverages from the cans? Only after cleaning the can. Canned beverages (soda, beer, etc.) are usually warehoused in areas where they are exposed to possible contamination. There have been reports of illnesses among persons who drank directly from the can, which was contaminated with feces or droppings of mice or…

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The presumption of ‘undue influence’ in transactions between spouses during the marriage

CALIFORNIA law on the nature of spouses’ rights and obligations with respect to management and control of community property has evolved over the last thirty years from less stringent “good faith” standards to heightened “confidential duty” and “fiduciary duty’ standards.  Under current law, the duties owed between spouses in transactions between themselves are the same…

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