October 3- 10 is National Financial Planning Week
If you were not aware, the week of October 3-10 is National Financial Planning Week in the U.S. www.foxbusiness.com reports that financial planners throughout the U.S. are offering free advice on how you can pay down your debt, create a workable budget and plan your future economic goals; that is, get your financial house in order. The federal government also can help with financial literacy programs available in print and in podcasts; check out www.usa.gov.
The attorneys from Legal Helpers want you to know a few basic facts about your debt and, more importantly, how to free yourself from that debt. First, getting a loan does not pay off your debt, it just restructures it. Occasionally, a debt consolidation loan may work because it allows you to pay off your loans over a period of time by making smaller monthly payments, thus freeing up some cash in your budget.
How to Reduce Your Taxes Next Year (part 3)
Here are the tips we have covered so far in how to reduce your taxes next year:
1. Pay no more than you should
2. Max out your 401s
3. Sell your loss making shares
4. Write off the biggest tax breaks
5. Make charitable donations
6. Make significant charitable donations
7. Make energy-efficient home improvements
8. Avoid buying mutual funds before the ex-dividend date
9. Give to your loved ones
You can give up to $13,000 to any one of your loved ones this year and not have to pay any gift tax. You can also transfer up to $5 million in your lifetime to any next-of-kin without having to pay estate tax. But the $5 million lifetime exclusion from tax expires at the end of next year, unless Congress decides otherwise.
Maybe $5 million is out of your league, but the $13,000 gift is probably not.
CreditCards.com Weekly Rate Report, Dec. 7, 2011: Credit card interest rates dip for 1st time in a month
Interest rates on new credit card offers dipped slightly this week, according to the CreditCards.com Weekly Credit Card Rate Report.
The average annual percentage rate (APR) fell to 14.98 percent. It’s the first rate decrease since early November and was spurred by rate changes from two of the nation’s largest credit card issuers.
Wells Fargo had offered an APR range of 11.15 percent to 23.15 percent on both its cash back and rewards credit cards before increasing both cards’ offers to a range of 12.15 percent to 23.15 percent.
Meanwhile, Discover lowered rates on its Motiva, More and Open Road cards. Each had carried an APR range of 11.99 percent to 19.99 percent before being lowered to a range of 10.99 percent to 19.99 percent.
Discover’s decreases offset Wells Fargo’s increases in our calculations, leaving the overall national average down slightly.
Wells Fargo spokeswoman Lisa Westermann confirmed her bank’s changes.
How to see your credit report
Thinking of checking your credit history but you have no idea how to get a copy? Well, here’s an article that can help you do just that!
The passing of the Fair Credit Reporting Act (FCRA) has mandated credit bureaus to issue at least 1 free copy of a citizen’s credit report. This way, all consumers can fight identity theft, stay informed and get fair treatment from their creditors.
Getting a free credit report is now as easy as a click of a button. You just need to log-on to the AnnualCreditReport website or call their trunk line to create your request. This is the only way you can get the FCRA mandated free credit report. While everyone is entitled to a free credit report from each of the 3 reporting agencies, availability is regulated according to region at certain times. If your region is running, you can instantly view your credit report online. If not, then you’ll need to wait 7 days for the report to arrive. On the
Creditor Trustee in Champion Home Bankruptcy Files Preference Actions
Introduction
This month, Bruce H. Mason, acting as creditor trustee (the “Trustee”) for the CEI Liquidation Trust (the “Liquidation Trust” or “Trust”) began filing preference actions against various defendants. As stated in the Liquidation Trust’s complaints, the Trust was created in the Champion Enterprises (aka “Champion Home Builders” or “Champion”) bankruptcy pursuant to Champion’s Second Amended Joint Plan of Liquidation. This post will look at Champion’s business, why the company filed for bankruptcy as well as some of the events that have transpired since the company entered into bankruptcy.
Background
As I discussed in a 2009 post on this blog, Champion filed for bankruptcy protection in the Delaware Bankruptcy Court on November 25, 2009. One of the first documents Champion filed with the Bankruptcy Court was the Declaration of Champion’s CFO in Support of its First Day Motions (the “Declaration”). As reflected in the Declaration, Champion builds commercial and residential modular housing throughout the United States. The company began in 1953 in Dryden, Michigan where it produced roughly two houses per week. Over t
Britain’s biggest export markets (and why we should fear a euro meltdown)
The euro remains on the brink, and thats exceptionally bad news for Britains exporters (see the table below).
A full-on default for a major European nation would likely trigger a collapse in European banks – that would have seismic implications for British banks – and force Credit Crunch II.
Expect a repeat of the Lehman Brothers collapse with bells on. So if credit receded dramatically and its cost rose sharply, the economy would be hammered on several fronts: