Tag Archives: personal bankruptcy

Update on the National Mortgage Settlement Program – Do You Qualify?

14 Sep

Update on the National Mortgage Settlement Program – Do You Qualify?.

Do you know where your next #paycheck is coming from?

9 Jul

Uncertainty creates #fear and #anxiety

After a short break from writing I really hope you’re doing well.  It’s great to be back. No, I didn’t spend the night in jail or even the weekend in Milan. If I had today’s blog would have been wild!

With the canvas of gloom and doom that surrounds us, I can sense that the majority of hard-working Americans are in a state of uncertainty. Not knowing what comes next is a stressful way to live!

If you have a job, you wonder for how long. Could this be the week you get laid off?

Maybe you’ve been #unemployed for a long time… If you don’t have a job, the uncertainty of whether or not you’ll find one that pays enough to cover your bills weighs on your mind every day.

With uncertainty comes fear—and lots of it!

Learn to control what you can in life, and calm any fears you have—one at a time.

What is the best way to put those fears out of your mind???  Learn what you can to improve your outlook and understanding of what is to come… 

Do you know enough about financial terms and situations to understand if you are in financial trouble? From my experience with colleagues and clients, probably not…

Take a great step toward learning those important facts and read:

BANKRUPTCY FROM A TO Z: THE PATH TO FINANCIAL HOPE AND FREEDOM

Find it on http://www.amazon.com, http://www.barnesandnoble.com and http://www.sunsetdreambooks.com

No other resource will guide you through the maze of financial problems like this one. It is written in a language you will understand—and will be the best handbook you could ever read!

If you or someone you know could benefit from a little direction and reliable information, email me directly at bettyanne@sunsetdreambooks.com. I’ll personally handle the order and see to it that you start the journey toward a fearless life immediately!

See you soon at www.sunsetdreambooks.com and www.facebook.com/SunsetDreamBooks

All my best!

Betty Anne

Follow me on Twitter @sunsetdreamboox

Do men and women handle #bankruptcy differently?

26 Jun

Of course they do—they are from different planets!

Not so long ago, everyone was talking about men being from Mars and women coming from Venus. It was a quizzical way to explain that men and women are definitely different from each other. They look different, sound different… and often respond differently to stressful situations.

Today I’m going to share my observations about the way men respond to financial problems, and ultimately—bankruptcy. As a paralegal for 18 years I worked with men, women, couples and “unintended victims” as they sometimes considered themselves. Honestly, I saw both men and women exhibit the “if I pretend it isn’t happening, maybe it will go away” syndrome. If one person handled the bills for the whole family, it made them an easy target when things went bad. Even if they weren’t responsible for the drastic reductions in income or increased or emergency expenses, it was always easier to blame someone else for what seemed like insurmountable problems.

When it came to the way men handled desperate financial problems, including bankruptcy, I saw everything from “I was stupid”, “I thought I could volunteer for overtime to catch up on my bills”, and “I don’t know how this happened”. They were generally able to confront the severity of the situation and do what was necessary to get past it.

If there was a home in jeopardy, though, the behavior of the men involved was quite different. I saw men throw so much good money after bad—because they couldn’t bear to leave the house they provided for their family. Sometimes it was even a home they had built with their own bare hands. There was sometimes a surprising bond between men and a building. The house stood for their status in life, and their ability to provide for themselves, their spouse and family. It was a sign to the outside world that they had “made it”.

These types of feelings were so hard to re-direct from my side of the desk. As a woman, and from a professional viewpoint, I had to discover with each of these men just what approach would get through to them so they could see their financial situation clearly, without emotions clouding judgment. I know that most people consider women as the more emotional of the two sexes, but I found that when a man is emotional about something—there is no letting go.

Framing the nuts and bolts of it—convincing a man he can achieve the goal of owning a home again—aided my discussions about the advice he received from an attorney. Sometimes it is necessary to walk away from a particular house, and its mortgage, because it is the best move for his health, his future, and that of his family. I always put myself in the homeowner’s shoes in order to explain difficult solutions to these stressed-out individuals.

When a man expects to protect his loved ones from harm and provide a safe place to live, and then finances prevent him from providing the life he wants to provide, he first has to deal with the emotions that surround failure and despair. He is not a failure, but he may feel like one. He must surround himself with people who present the solution as a problem solver would, just like him. When men see something wrong they want to fix it. If they can’t fix it, it is easier to shut down and ignore it—and we all know where that leads… AN EVEN BIGGER PROBLEM!

If you are a man facing very difficult financial problems, and yes—even bankruptcy—find someone to talk to who understands where you’re coming from. Work through the process with a professional, and realize that the better man sees the whole picture. When you realize you’re lost in the woods, you don’t just continue to walk in circles. You take out your compass, focus on moving toward the direction that leads you out of the forest, and trust your instincts to guide you. You and your family will get through this, and learn to live a better life. Your family will look to you for strength and protection. Be the man they know you to be… lead them out of the woods.

All my best!

Betty Anne

SUNSET DREAM BOOKS

www.sunsetdreambooks.com

On Twitter @sunsetdreamboox

Techniques to Help Couples Talk about Money; Avoid Divorce

20 Jun

Sometimes the solution is painful, but the outcome can be surprising! If money problems are affecting your relationship, read this important article before it is too late to save it!    http://wp.me/p2tqIB-1r

All Things Financial Planning Blog

It has been said in several studies that money issues is one the main causes of divorce. One other most commonly stated causes of divorce is poor communication. Combine these two issues, and you have a recipe for frequent conflict. How is it that something like money, which can bring so many positive things into our lives and improve the world around us for the better, can cause so many problems? One reason is that couples lack an operating system, or communication system to understand their day to day finances, the ramifications for their decisions, and how to make better choices.

Think about the number of transactions that occur every day in your household. Electronic transfers, deposits or payments perhaps happened overnight. You stopped on the way into work and filled the car with gas before hitting Starbucks. Your spouse orders a present for a family member on the internet…

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Can you really negotiate with credit card companies to pay less than the full balance?

20 Jun

Can you really negotiate with credit card companies to pay less than the full balance?

You’ve heard the phrase: When something sounds too good to be true, it probably is. Well, sometimes, though very rarely, what sounds too good to be true is as true as true can be.

A little background information–Credit card companies have loaned billions of dollars to millions of people. That really is what using credit cards is all about. You want to buy something you can’t afford, and the credit card company agrees to loan you the money so you can buy it. Most people don’t think of credit cards in those terms. It is time to view credit cards in a realistic way. This is probably the most important nugget you can take away from this writing.

In addition to lenders having so much money out on the street, add to the mix that thousands of people find it necessary to walk away from their debts by paying nothing back to their creditors by filing bankruptcy. Many creditors are truly open to negotiating with people who have the funds to pay a portion of the loan back to them.

The process is not an easy one, nor is it pleasant. Along with having the temperament to stick to your position during negotiations, you must continue to say “no” when the creditor says you only have to pay 90% of the full debt, or 75%, or 50%. It isn’t impossible to come to an agreement to pay as little as 25% of what you owe. You can also hire an attorney to negotiate with creditors on your behalf. They do this every day for people much like you. It is a good way to take the stress you would experience by doing it yourself out of the equation.

One very important note: you must also have the money available to pay to the creditor in one lump sum, or in some circumstances over the course of just a few months. You must talk with your accountant or attorney to discuss whether or not you should choose this option to erase your debt. Enlist the expertise of professionals so you don’t make mistakes that hurt you later.

If you don’t have enough money to pay off all of your unsecured debts through negotiated settlements, you could run into problems if you find it necessary to file bankruptcy at a later date. Filing a Chapter 7 bankruptcy generally provides an avenue to pay nothing to your remaining unsecured creditors, as long as your income and assets fall within the legal guidelines. If you pay one credit card company a reduced amount through negotiated settlement, and pay nothing to other unsecured creditors, the bankruptcy court views this practice as favoring certain creditors over the remaining creditors of the same class. All creditors of the same class (secured, priority or unsecured) must be treated in the same manner according to bankruptcy law. The court will investigate your financial history for a period of 2-3 years prior to filing bankruptcy. Get good legal and financial advice before you proceed with actions that harm your position in the long run.

You will find additional resources at my website that pertain to this topic: www.sunsetdreambooks.com

Drop by, get in touch with me through email and begin to work toward freedom from financial stress!

All my best!

Betty Anne

SUNSET DREAM BOOKS

Follow me on Twitter @sunsetdreamboox   

Do your elderly parents have trouble paying their bills?

19 Jun

Do your elderly parents have trouble paying their bills?

It’s undoubtedly a tough question to ask them. Your parents have  guided you through times, and they developed a rapport with each one of their children based on respect. At this time in their lives, most retirees find it difficult to make ends meet. Commonly, their generation would not ask for help to tackle this type of problem. They may consider meeting obligations in a timely manner as a measure of their self-worth. Possibly one of your parents has passed on, leaving the other with just one income to pay the bills. What is common now compared to even ten years ago, your parents may have gotten divorced from each other and are each facing their own budget issues. One income definitely is harder to stretch to the end of the month than two.

Let’s face it. The cost of everything has gone up and your parents probably live on fixed incomes. Even if there is no mortgage on their home, the real estate taxes are much more than they planned. If they rent an apartment, the costs the landlord incurs are also on the rise. Ultimately, those costs are passed on to each of the tenants. There is no easy fix to the financial problems that the elderly face.

The difficulty in determining whether or not your parents are in financial trouble is the mindset they share–their problems are no one else’s business. Yes, I know you are their son or daughter, but sharing financial information with others is foreign to the way they were raised. They might even continue to put on a happy face, even buying lavish gifts for the grandkids, when they truly don’t even have grocery money. Often their credit card balances are high, or even maxed out, because they charge their purchases at the grocery store. Sadly, it isn’t unusual for the elderly to suffer in silence because they are afraid to talk about the topic of money.

One way you can approach the subject is to bring up the difficulties your own family has encountered in making ends meet. Choose the right time to do this, and make sure that the discussion is held in a private setting. You may find that once the door has been opened to an honest discussion their situation might be much worse than you expected.

Take a breath, give them a hug and work together toward the solution. They already feel bad enough about their predicament. What they really need is reassurance and hope.

If you find that there is just too much debt to overcome at their income level, obtain my book: BANKRUPTCY FROM A TO Z: THE PATH TO FINANCIAL HOPE AND FREEDOM for yourself. Read through the book so you can begin to understand how they feel, and educate yourself about the financial and legal terminology. This will enable you to guide them in the right direction. Difficult situations are overcome more easily when you work together as a team.

No blame—no guilt—no judgment. Become the captain of their ship so that you and your loved ones are able to navigate the rough waters ahead. It may make for some rocky times, but if handled correctly they will ultimately love you for it.

All my best!

Betty Anne

SUNSET DREAM BOOKS

www.sunsetdreambooks.com

Follow me on Twitter @sunsetdreamboox   

Has your net worth decreased dramatically?

13 Jun

Has your net worth decreased dramatically over the past few years? I know mine has. I’m sure you’ve heard this shocking story because it is all over the news. Chances are–if you work, and had saved enough of your hard-earned money to buy a home–your net worth is not what it used to be–these headlines are your reality. The funds you planned to use for retirement have all but disappeared, and your home is probably worth less than what you owe on it.

I know that much of what we hear in the news seems arbitrary, and just something for the talking heads to discuss (keeps them in a job). Truth is, the latest news that the net worth of the average American dropped approximately 40% in just four short years hits YOU squarely in the checkbook!

Let’s face it – average people  don’t have the advantage that federal, state and local governments do to increase and create new taxes so they can collect additional money. Governments can spend more than they take in because we have no choice but to pay what they determine is our fair share. We don’t have the options that unions and big businesses have to receive tax credits– because their collective amounts of money control people in powerful places.

What we can do as our overall net worth shrinks is look into ways to make the amount of personal debt we owe shrink too. Our money no longer stretches far enough to pay what we were once able to pay–before the financial meltdown of the world. Alternatives that hard-working people would never have contemplated before may be just the right decisions to make now. Our economy has been reduced to many people scrambling for the crumbs that fall off of the gluttonous table of government. Don’t you and your family deserve more than scraps?

Visit www.sunsetdreambooks.com to learn more about protecting your net worth from now on.

No one, especially not the government, will protect it for you.

All my best!

Betty Anne

SUNSET DREAM BOOKS 

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