Scams targeting older adults take many forms, including callers posing as grandchildren in need of financial assistance. Scams can come in the form of emails directly people to fake bank websites where cons collect legion credentials. The pandemic has increased our isolation, especially older adults. While technology helps us stay connected, it has also opened … Read More
IRS PUSHES BACK START OF 2020 TAX FILING SEASON
Typically the IRS begins accepting and processing individual tax returns in late January. The agency has now pushed back the start of filing to FEBRUARY 12, 2021 for returns for the tax year 2020. Though the start of tax filing season is postponed by a couple of weeks, the government says it expects to pay … Read More
WHAT IS BANKRUPTCY
Bankruptcy can help a person by discarding debt or making a plan to repay debts. A bankruptcy case normally begins when the debtor files a petition with the bankruptcy court. A petition may be filed by an individual, by spouses together, or by a corporation or other entity. All bankruptcy cases are handled in federal … Read More
The Student / Parent Loan Trap
How much do parents borrow for their children’s education? It seems, more and more. And with millennials growing older, parents may end up taking new college loans for their children before paying back their own loans. The College Scorecard is a website belonging to the U.S. Department of Education. It allows parents and students to … Read More
COVID-19 Mortgage Forbearance: Understanding how to repay
Is Help Finally On the Way for Student Loan Debt?
The new administration has said one of its top priority is dealing with student loan debt. Whether you are a current college student or dealing with student loans you took out years ago, we’ve been told that help is on the way. COVID-19 has only increased the anxiety over dealing with existing student loan debt. … Read More
WHAT IS A STATUTE OF LIMITATIONS?.
When it comes to debt, the statute of limitations is the amount of time a creditor can take before asking the court to force you to pay for a debt. The Statute of Limitations on debt in Pennsylvania is four years. Debt collectors do not want you to know this but sometimes debt is just … Read More
MY CREDIT CARD WAS CHARGED OFF
A charge off is an entry on the credit report that indicates a creditor has tried and failed to get payment, and has given up. The creditor closes the account but the debt appears as charged-off on the credit report and the creditor may continue to report the past due amount. Often creditors charge off … Read More
MY CAR WAS REPOSSESSED BUT MY CREDIT REPORT SHOWS THE ACCOUNT AS OPEN
When a car is repossessed or voluntarily surrendered, the vehicle is generally sold at auction. If the amount received at auction is less than the amount owed, there is a deficiency and the lender can still sue for that amount. Your lender will send you a statement showing the amount received from the auction, and … Read More
HOW LONG DOES CHAPTER 7 BANKRUPTCY TAKE?
The first step in filing chapter 7 bankruptcy is to have a detailed consultation with an experienced and knowledgeable bankruptcy attorney who will take the time to listen to your situation and provide expert analysis. Once you have made the decision to file chapter 7, you will provide all the documents your attorney has requested … Read More
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