Overspending during the holidays leaves some people grappling with a pile of unpaid debts, a fact that New Yorkers should be mindful of this time of year. Some people only learn the hard way and spend years paying that debt off. The best way to deal with the problem...
Month: November 2013
Fast Track Settlement Program Now Available Nationwide; Time- Saving Option Helps Small Businesses Under Audit
"The Internal Revenue Service today announced the nationwide rollout of a streamlined program designed to enable small businesses under audit to more quickly settle their differences with the IRS. The Fast Track Settlement (FTS) program is designed to help small...
Bankruptcy filings have declined in New York
There has been a decline in the number of bankruptcy filings nationally and it is attributed to lower unemployment and banks being more conservative about lending money. According to the Federal Reserve Bank of New York, overall household debt fell by $78 billion...
Bankruptcy can save a person from messy credit card debt
For most Long Island residents, a mountain of debt means years of repayments to creditors. But what if the mountain is so big that repayment in one's lifetime becomes virtually impossible? Fortunately, bankruptcy offers a way to level the mountain and start over. One...
IRS Announces 2014 Pension Plan Limitations
The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2014. Some pension limitations such as those governing 401(k) plans and IRAs will remain unchanged...
DMX may have to convert from Chapter 11 to Chapter 7 bankruptcy
DMX has many fans on Long Island, New York, among other places, and it might have been a shock for his fans to learn that the rapper is in the middle of insolvency. However, at the moment, that is not the rapper's only problem. An official from the Justice Department...
How Chapter 13 bankruptcy can benefit someone in debt
Deciding which bills to pay and which to put off for as long as possible is a difficult problem that faces anyone who finds him or herself in a credit mess. In an economy that is continues to recover only slowly, many Long Island residents still find it difficult to...