Nobody plans on getting in over their heads with debt; it just happens. People on Long Island who are wondering why their debt-to-income ratio continues to get worse often have one place they can look to: their credit cards. Not keeping tabs on how much you're paying...
Month: April 2014
BANKRUPTCY FILING FEES TO INCREASE JUNE 1, 2014
The Judicial Conference has approved a fee increase effective June 1, 2014. The fees for filing a chapter 7 case will increase from $306.00 to $335.00. The fees for filing a chapter 13 case will increase from $281.00 to $310.00 This is a $29.00 increase in the filing...
Many watching high court case on how inherited IRAs are treated
Upon the death of a loved one, family members might receive an inheritance, sometimes in the form of an inherited individual retirement account, better known as an IRA. Many people might choose to keep the account in that form with the ultimate goal of saving it for...
Americans’ average credit card debt may be higher than it seems
There are many ways to gauge the nation's financial health. One of these measures is the average household credit card debt. This is thought to be a good way to view the level of financial health among our country's households across the board. But is this measure...
STATE BUDGET ALTERS NEW YORK ESTATE TAX LAWS
The New York State budget passed on April 1, 2014 includes dramatic changes to the state estate and gift tax laws. Since 2001, the federal estate tax exemption amount (the amount of assets that can be passed to heirs without incurring any estate tax), has risen from...
Unexpected disasters could be cause for personal bankruptcy
The recent mudslide in Washington state that killed more than two dozen people and injured many more will have a big impact for years to come. Many families lost loved ones, not to mention many treasured possessions, and dozens homes and vehicles were destroyed. The...