Bankruptcy Archives - Page 26 of 34

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Coral Gables Apartment Board President Turns Building into a Prison

Posted on February 18, 2013by Admin

According to residents, the beautiful Coral Gables Apartment building, Waters Edge, has turned into a prison since the new board president took over last year. Jim Lowe was elected in April of 2012. The residents say that he harasses everyone. Lowe reportedly snaps pictures of supposed offenses and charges residents with substantial fees. In some cases, Lowe files lawsuits over funds owed by residents. In one case, Lowe charged a single mother of two a $1,000 fee for leaving her metal screen door open. In another instance with the same mother of two, he snapped a picture of her in the lobby eating a salad. He then proceeded to send her a copy of the photo with a note that said, “Not Allowed.”

According to Lowe, he is simply enforcing the condo’s long-standing rules. He claims that had he not stepped in, the apartment building would be broke by August. Lowe said that since his election, Waters Edge is now ahead on their bills and has new elevators and security cameras. Lowe admits that his style is abrasive but that he is saving the building hundreds of thousands of dollars, as a result.

If you have any questions on this topic or are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Slow Hiring – The Reason for Many Jobless Claims

Posted on February 14, 2013by Admin

Last week, unemployment claims fell slightly. However, jobless claims seem to be driven by slow hiring. According to the Labor Department, first-time jobless claims fell last week to 366,000 from 371,000 the previous week. First-time jobless claims are extremely important to the economy because they are considered a proxy for layoffs. Over the last month, jobless claims have bounced around, making the state of the job market recovery unclear to economists.

January’s early jobless claims plummeted to a five-year low, but have shot back up in the past few weeks. Currently they are hovering in the same range they have been for most of the last year, between 350,000 – 400,000 per week. According to an economist at BMO Capital Markets, businesses are still extremely cautious about hiring new employees. The Labor Department also records people who file continuing unemployment claims. During the week ending January 26th, 3.2 million people filed continuing unemployment claims.

To read more on this story visit: http://money.cnn.com/2013/02/07/news/economy/unemployment-benefits/index.html

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Nearly Half of South Florida’s Children Living in Poverty

Posted on February 13, 2013by Admin

A recent study done by the U.S. Census Bureau suggested that 44 percent of South Florida’s children are living in poverty. The study consisted of Broward, Palm Beach and Miami-Dade counties and showed that more than half a million children under the age of 18 live in low-income households. According to the National Center for Children in Poverty at Columbia University, a single mother with one child that makes an annual income of $30,260 or less is considered a low-income household.

South Florida was one of the hardest hit areas in the country during the recession. The median household income fell 14 percent in five years, according to Census data. The median household income in Broward and Palm Beach counties fell to approximately $48,900 in 2011. Also, the number of people on food stamps in Broward and Palm Beach counties has almost tripled since 2007. Families in South Florida have reportedly cut $10,000 out of their budget in the past two years. Younger parents have been hit the hardest since they typically earn less than older parents. South Florida’s poverty rates are consistent with the nation’s average, because approximately 45 percent of children under the age of 18, nationwide, are living in low-income households.

Bankruptcy Law, Timothy Kingcade Posts

U.S. Postal Service to Stop Saturday Deliveries – How it Will Affect You

Posted on February 12, 2013by Admin

The U.S. Postal Service announced last Wednesday that it would stop delivering letters on Saturdays, effective August 5, 2013. The Postal Service will still deliver packages on Saturdays and post office locations will remain open. However, mail in the form of letters will not be delivered to home addresses. Also, letters delivered to post office locations will no longer be processed on Saturdays.

Consumers will be urged to be more careful about paying their bills, if they typically pay them via mail. Credit card issuers have to set a payment deadline at least 21 days from the time they mail the cardholder’s statements. The new Postal Service hours might mean that consumers receive their statements two days later and must send in their payments two days earlier. Only approximately 23% of bill payments are made with a check according to a research firm called Fiserv. However, this percentage still accounts for billions of checks.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Senate Proposes Bankruptcy Option for Private Student Loan Debt

Posted on February 5, 2013by Admin

Last Wednesday, Sen. Dick Durbin unveiled a proposal that would give student loan debtors an option for bankruptcy. The proposal targets former students who have loans through private lenders such as Sallie Mae, Wells Fargo Corp. and Discover Financial Services. The proposed bill does not apply to federal education loans, which make up more than 80% of the $1 trillion in outstanding student loan debt.

Currently, Federal law prohibits private or federal student loans from being discharged in bankruptcy court, except in rare cases. Consumer advocates believe this to be the reason that many borrowers are unable to unload their student debt. In many cases, student loan debt is so high; there is little hope the borrowers will ever repay them. Other types of major consumer debt including mortgages, credit cards and auto loans are all dischargeable in bankruptcy court.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

6 Great Credit Cards to Rebuild after Bankruptcy

Posted on January 31, 2013by Admin

Many Americans are struggling to redeem their pre-recession credit scores. Whether you have recently filed for bankruptcy, been foreclosed on by your bank or simply struggled to pay your bills, rebuilding your credit score can be a long process. Below are six great credit cards to help you rebuild your credit score:

1. Navy Federal Credit Union nRewards Card: According to credit card expert Beverly Harzog, this is one of the best credit cards for rebuilding a credit score. You must be in the military or related to someone who is in the military to be eligible for this card. This card has no annual fee and the percentage rate is a variable 8.9%. It has a 25 day purchase grace period and it reports to the three major credit bureaus: Equifax, Experian and TransUnion.

2. Citi Secured MasterCard: With this card, you will earn a 1.01% annual yield because Citi invests your money in an 18-month certificate deposit of savings account. The annual fee is $29 per year, which is very low. This card is best for those who do not typically carry a balance because the variable APR is very high.

3. Capital One Secured MasterCard: This card also has a very high variable APR at 22.9%, but a low annual fee. A positive feature of this card is that the bank supplies cardholders with a credit-monitoring tool so that if you are struggling with your score, you can monitor it closely with this card.

4. Wells Fargo Secured Card: This card has a very low annual fee of $25, but it has a high APR of 18.99%. If you use this card responsibly, Wells Fargo will consider you for an unsecured credit card.

5. US Bank Secured Visa Card: Similar to Wells Fargo, this secured card can put you on the track to an unsecured credit card. Responsible card users can qualify for an unsecured card from US Bank in as little as 12 months.

6. Platinum Zero Visa Card from Applied Bank: Cardholders should be aware of the $9.95 monthly maintenance fee on this card. However, if you typically carry a balance on your card, this one is ideal for you. This card charges 0% interest on purchases and there is no credit check required.

To read more on this story visit: http://money.msn.com/credit-cards/6-great-cards-for-rebuilding-credit

Bankruptcy Law, Timothy Kingcade Posts

Casey Anthony Files for Bankruptcy in Florida

Posted on January 30, 2013by Admin

Casey Anthony filed for Chapter 7 bankruptcy protection last Friday in Florida. Anthony claimed approximately $1,100 in assets and $792,000 in liabilities. Her listed debts included: $500,000 for attorney fees and costs for her criminal defense lawyer during the trial; $145,660 for the Orange County Sheriff’s office for a judgment covering investigative fees and costs related to the case; $68,540 for the IRS for taxes, interest and penalties and $61,505 for the Florida Department of Law Enforcement for court costs. Her legal debt accumulated when she was on trial for the murder of her daughter, Caylee. Anthony was acquitted of killing Caylee in 2011, however she is currently unemployed, with no recent income.

Aside from her financial troubles, Anthony is also facing a defamation lawsuit. Among many other civil suits, the defamation suit was brought forth by Zenaida Fernandez-Gonzalez in the Orange County Circuit Court. Fernandez-Gonzalez claims that Anthony defamed her when she told the detectives that a baby sitter with the same name kidnapped Caylee in 2008.

Bankruptcy Law, Credit, Timothy Kingcade Posts

New Credit Card Transaction Fees in 40 States

Posted on January 29, 2013by Admin

As of Sunday, 40 states in the U.S. will now charge merchants and retailers a “checkout” surcharge fee of 4% on credit card transactions. The fees are a result of the $7.25 billion settlement last June between credit card issuers and merchants. Part of the settlement stated that credit card issuers would reduce merchant’s fees for eight months. Now that the agreement has expired, credit card issuers are charging merchants a higher percentage. As a result, some merchants are charging consumers between 1.5 and 4 percent of the total purchase on all credit card transactions in order to cover the increase on credit card processing costs.

Another part of the settlement allows merchants and retailers to charge tax on its customers. According to the National Retail Federation, the vast majority of retailers do not want to surcharge consumers. Many of them have joined a petition in favor of consumers’ interests. The petition claims that charging taxes would punish the consumers, rather than the credit card companies for their wrongdoings.

It is still illegal to charge the fee in the following ten states: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas.

Bankruptcy Law, Credit, Timothy Kingcade Posts

6 Steps to Prep for your Tax Return

Posted on January 28, 2013by Admin

Below are six steps to help you get ahead on your taxes this year:

1. The first thing you should do is put together a list of social security numbers. You will need to include everyone’s number who will be on your tax return. If your child is 12 years old or older and does not have a social security number, you must apply for one.

2. Next, you will need to gather the documents that show the income you earned in 2012. This can include: a W-2 from your employer, a 1099-MISC if you made more than $600 from anyone for freelance work, a 1099-G if you collected unemployment, the interest on any savings accounts you have, etc.

3. You also need to locate your 2011 tax return. This can be very helpful when filing your 2012 tax return, unless your life has drastically changed. If you cannot find your tax return from last year, you can order a copy at http://www.irs.gov/Individuals/Order-a-Transcript.

4. Another step you can take to get ahead on your taxes is to figure out the deductions you can claim. There are many possibilities with tax deductions, therefore you should educate yourself and get your paperwork together, early. You will need documentation to prove any deductions you claim. Visit http://www.irs.gov/taxtopics/tc500.html to learn about deductions.

5. If you contributed to a charitable organization in 2012, you can deduct your donation from your taxes. The donation can be in the form of cash, property or stock and must have been to an organization, not a person or political campaign. Visit http://www.irs.gov/uac/Eight-Tips-for-Deducting-Charitable-Contributions to learn about charitable deductions.

6. Finally, you should plan your actual refund. The fastest way to get your refund is to file electronically and use direct deposit.

Credit, Timothy Kingcade Posts

6 Items You Will Pay Less for in 2013

Posted on January 23, 2013by Admin

Below are 6 pricy items that are expected to drop in 2013:

1. Used Cars: If you need a new car, consider purchasing a used car in 2013. Analysts project that used car prices will drop several hundred dollars this year. This drop is related to a spike in lease terminations resulting in extra inventory on used car lots.
2. Gas: Last year’s average gas price was $3.63 per gallon. In 2013, average gas prices are projected to drop to $3.43 according to the Department of Energy. A spike in fuel-efficient vehicles on the road will help keep gas prices lower this year.
3. Ultrabooks: Intel has predicted that laptops with “ultrabook” branding will see a major price drop in 2013. Ultrabooks are known for their slim, light exteriors and high-speed processors. Intel predicts these will retail for $599, approximately half of their normal cost, by the end of this year.
4. Vacation Packages: Vacationers can save more than $1,000 this year by booking their airfare and hotels together. Popular resorts in areas such as Hawaii and Mexico will offer major savings for those who book package deals.
5. Solar Energy Panels: Solar energy panels have become increasingly popular for those trying to heat swimming pools or large homes. Analysts expect these pricy items to decline by as much as 10% this year.
6. Flatscreen TVs: The prices of 50-plus-inch flatscreens are projected to drop nearly 11% during 2013. The bigger the TV, the bigger the price cut.

To read more on this story visit: http://money.cnn.com/gallery/pf/2013/01/22/pay-less-2013/6.html