… available, your debt management approach can become more proactive in the form of maximizing flexible spending accounts, generic prescription plans, and good budgeting.

Not surprisingly, the main message is that costs are rising, so be prepared to pay more for medical care.  Even with the best planning, however, medical bills tend to blind side people.  Flexible spending accounts can be quickly absorbed by one medium, not necessarily major, illness or injury.  More plans are raising …

Tags: Flexible spending account Health care Health insurance

While spending money wisely is important for the success of any business, it is especially important for recruiters during a recession.  Here are five questions every recruiter should ask before they spend limited cash:

 Do I really need to purchase this product or service for my business?  Just like in our personal lives, many business owners tend to spend impulsively or on things they want and …

Tags: priorities spending

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When determining how to handle your bank account before bankruptcy, there are few things you need to consider.

Do you owe money at the same bank where you have a checking or savings account? Oftentimes, debtors considering bankruptcy bank and hold their mortgage at the same place.  Or, they have automatic payments coming out of their bank accounts for a credit card or car payment.  If that’s the case and you …

Tags: Bank account Bankruptcy Checking Creditors Lawsuit

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… this. In the meantime, the debtors continued to receive the money directly deposited into their account and they spent the money knowing that it was the property of the bankruptcy estate. After it was revealed that the money had been spent by the debtors, the trustee filed a complaint to revoke their bankruptcy discharge. The debtor’s responded by paying $700 and promising the rest later; but it was not enough. The bankruptcy court found that the debtors engaged in fraud because they …

Permalink: /chapter_7_bankruptcy/bankrupt-debtors-lose-discharge-after-spending-annuity-payouts/

… Trustee)), debtors accused of acting in bad faith after borrowing funds from their retirement account on the eve of their bankruptcy filing.

The details of the bankruptcy case:

In the Chapter 7 bankruptcy case, the debtors completed their bankruptcy paperwork stating that they had an average daily balance of $300 in their checking account and $25 in their savings account. However, after turning in the bankruptcy paperwork to their bankruptcy attorney ; but prior to signing the …

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According to an article in the Star-Telegram, Americans are drastically cutting back on spending as the number of job losses and bankruptcies continue to rise. The Conference Board reported this week that its Consumer Confidence Index is now at 49.3 percent, a significant decline from the May level of 54.8 percent.

The article said:

“Job security – a key factor in shoppers’ willingness and ability to spend – continued to plague consumers surveyed by the Conference …

Permalink: /dallas_bankruptcy_laws/consumers-spending-reduced-by-fear-of-job-losses/

… as overdraft fees. The check reporting companies are obligated to accurately list the debtor’s account as “$0″ balance or “discharged in bankruptcy.” But some debtors may still have trouble opening a bank account after their bankruptcy discharge due to inaccurate reporting by one or more check reporting companies such as Chex Systems, Telecheck and SCAN.  Here’s what you can do:

1.    Order a free copy of your Chex Systems report (you can also choose Telecheck or SCAN).  …

Permalink: /dfw_metro_bankruptcy/help-i-have-bankruptcy-discharge-but-i-still-cant-open-a-bank-account/

… spaces in the Dallas- Fort Worth as the rising number of job losses takes its toll on consumer spending.

The article said:

Shopping center occupancy slipped 1.4 percentage points in the first quarter to 84.3 percent, the lowest level this market has seen in three years…That compares with 85.5 percent occupied in the first quarter of 2008 and is down from a peak of 89.6 percent in the first quarter of 2005. Dallas had a greater decline, dropping 2.1 percentage points to 84.4 percent …

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… overdraft fees, bounced checks etc. that need to be paid.  But there are some cases where a bank account may be affected by bankruptcy.

Is your bank also your creditor?  If a debtor files bankruptcy and has a bank account with one of his/her creditors, the bank may freeze the debtor’s bank account and request that the money be used to pay the outstanding debt.  Also, after a debtor files bankruptcy, their bank may decide to close any open lines of credit.  For example, if a debtor …

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… followed a 1.3 percent drop in March that was worse than first estimated.

Since consumer spending comprises nearly 70 percent of all economic activity, this drop in sales has many economists worried that the economic turnaround may be a long time coming.  In a sign that their fears may be justified the Labor Department also announced that the unemployment rate rose to 8.9 percent as the country was hit with another 539,000 job losses in April.  In total, over 13.7 million people …

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… to an article in the Dallas Morning News, the Commerce Department reported Monday that consumer spending, which accounts for 70 percent of the nation’s economic activity, dropped by 1 percent in December and savings increased 1.7 percent for 2008. But that’s from a low of 0.4 percent in 2005 which was only slightly better than the savings rates during the Great Depression another era when foreclosures and bankruptcies were choking the nation.

The article made a very interesting …

Permalink: /chapter_7_bankruptcy/consumer-spending-drops-savings-rates-rise/

… of those creditors? Well, if you file for Chapter 7 or Chapter 13 bankruptcy and have a bank account with one of your creditors, a few things may happen.

The bank may close your checking or savings account after you file for bankruptcy.

Sometimes the bank will "illegally" seize your money in the bank account after a bankruptcy filing.

The bank may freeze the money in the bank account after the bankruptcy filing.

The best course of action a debtor can take …

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