Bankruptcy Chapters

Planning your retirement, then this is where you need to be. While other traditional IRA’s poses no limits on your income like Roth IRA, there is the other side of the coin you need to know. That is, Roth IRA is tax free. Apart from being tax free Roth IRA also attracts customers through many other ways. It offers individual Retirement Arrangement and also in case you are married, your spouse can also contribute to the IRA. In the couple IRA, you take home the initial deposit made without any penalty over it. It is true that it imposes penalty on withdrawal of other money just like traditional IRA’s do. But that alone does not nag Roth IRA backwards. For added information about Roth IRA, its rules, process of joining, and limitations and other related details check out the link given below
roth-ira.org.

Roth IRA knows that accidents do occur and that is why they permit the individual to take away the savings for his family, in case they have met with accidents or any health related issues . Rot Read full post…

Tags: roth ira

As if financial institutions don’t already have enough to do to keep up with developments in social media! They must clearly outline company policy to employees concerning what should and should not be posted, inform agents of the regulatory do’s and don’ts, and continually scan the internet to respond to comments about their brand.  Now, it is clear that they must also guide customers about the appropriate and inappropriate use of social networking when dealing with fiduciary transactions.

As usage grows, requests to employ social tools as the main communication tool between customers and their financial providers will also increase.  For example, Bank of America now offers a Twitter feed to their customers as a first point of contact. Customers tweet their inquiries, complaints, solutions, etc. and these are transferred to the BOA customer resolution system at a call center. A customer service professional asked me about this recently, “How does the bank prevent customers from tweeting their account number?” My reply? “They can’t.” Last week, I was speaking with one of the largest disability insurers in the U.S. and found that th

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Fewer things can throw your world upside down like having your bank account frozen. A bank garnishment or seizure is usually the result of a creditor attempting to collect after a court has issued a judgment against you. The court orders the bank to freeze your account and turn over its proceeds to the judgment creditor. The order is usually timed by the creditor’s attorney to take effect just before your paycheck is deposited. Seizing a bank account is generally a creditor’s first action because federal and state laws limit the amount that can be garnished directly from an employee’s paycheck. These limitations do not apply to cash money in a bank account.

Once your bank account is frozen, it is important to act quickly. You are entitled to protect some money from garnishment, but you must notify the court, the creditor, and the bank that you are asserting your legal exemption rights. Additionally, if you receive Federal benefits that are directly deposited into your bank account, the federal law will protect an amount equal to two months of these benefits. These benefits include Social Security benefits, Supplemental Security Income benefits, Veteran’s benefits, Railroad Retirement benefits, and benefits from the Office of Personnel Management. Federal

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Tags: Account Frozen, Bank Account, Bank Account Frozen, Frozen

Last months foreclosures in southeastern Wisconsin experienced a 25 percent year-over-year decrease.  In Milwaukee County, foreclosure filings were 18.8 percent lower this year than in 2010.

Last month, a total of 806 foreclosures were filed in the region and 440 foreclosures were filed in Milwaukee County.  All 7 southeastern Wisconsin counties, experienced year-over-year decreases of over 10 percent.

Kenosha County experienced the greatest year-over-year decrease in October with a 41 percent drop in foreclosure filings.  Ozaukee County had the smallest drop in filings at 11.5 percent.

Foreclosures filings from January through October of this year are 16.5 percent fewer than foreclosures filed in the same time period last year.

Tags: 25 Percent, Decrease

The good news is that the Social Security Administration has announced that next year, for the first time since 2009, there will be a cost of living adjustment in Social Security benefits in the amount of 3.6%. As a Massachusetts bankruptcy lawyer, I often get asked: can the Massachusetts Bankruptcy Trustee take my Social Security Check? Does Social Security get factored into the Means Test in Massachusetts?

First, let’s review why there is a 3.6% increase coming. 55 million people will get the Cost of Living Adjustment (COLA) in their Social Security check starting January 2012. Approximately 8 million Supplemental Security Income (SSI) beneficiaries will get the same increase in benefits. Since 1972, this there have been COLA adjustments, based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers from last year’s third quarter to this year’s third quarter. It is the US Bureau of Labor Statistics, in the Department of Labor, that determines the CPI-W. For the last two years, as many of our Massachusetts consumer clients know, there was no increase in CPI-W, and therefore, no increase in the cost of living adjustment in their monthly Social Security checks.

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Tags: Security, Social Security