Mr. Marlboro Survives Bankruptcy

Kathy Weaver filed a Chapter 13 plan and included a $200.00 monthly cigarette expense in her monthly budget. A creditor in the case, Sarasota objected to the Debtor’s plan because it did not provide all of the Debtor’s disposable income. Specifically, the creditor objected to the Debtor’s $200.00 monthly cigarette expense as unreasonable and unnecessary. The court disagreed and stated that bankruptcy law does not impose an ascetic existence upon a Chapter 13 debtor. The court should not mandate drastic changes in the debtor’s lifestyle to fit some preconceived norm for Chapter 13 debtors. United States Bankruptcy Court for the Eastern District of Pennsylvania confirmed the Chapter 13 Plan 

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Slip and Fall Accidents and Bankruptcy

The bankruptcy law was written to allow debtors a certain amount of dignity and self-respect to which all members of society are entitled. In the bankruptcy context, exemptions serve the purpose of helping the debtor obtain a fresh start. A debtor can file  bankruptcy to erase all their debts and protect their right to compensation for injury losses, and payments for lost earnings. Bankruptcy Code section 522(d)(5), 522(d)(10) and 522(d)(11) contain a gold mine of exemptions. A debtor can use the “wild card” exemption in 522(d)(5) to keep (exempt) $11,975 of the debtor’s accident claim.  A debtor can double-up 522(d)(5) & 

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Are you struggling with student loans?

According to the Consumer Financial Protection Bureau (CFPB), outstanding student loan debt in the United States topped $1 trillion in 2011, comprised of about $864 billion of federal student debt and $150 billion of private student loan debt. The average debt climbed to about $24,000 in 2009. Default rates on both federal and private loans have skyrocketed in recent years. The Department of Education’s default rates in February 2011, revealed that the default rate at for-profit colleges was highest at 25%, nearly double the national average. The consequences of student loan defaults have grown enormously over time as the government’s 

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Mortgage Aide Program Gets Mixed Results

If you’re struggling to make your mortgage payments, a government program could help. But it requires cooperation from banks and mortgage companies. via Mortgage Aide Program Gets Mixed Results. Philadelphia News, Weather and Sports from WTXF FOX 29

Heal the sick and erase your student loans.

Health care employees are eligible for a public service student loan discharge of all their federal student loans. The student loan law uses the Bureau of Labor Statistics (BLS) to determine whether a qualifying occupation is eligible for a public service discharge. The following is a list of eligible health care employees who are eligible for a public service student loan discharge:   Athletic Trainers; Attendants; Anesthesiologists; Audiologists; Cardiovascular Technologists and Technicians; Chiropractors; Dentists; Dental Assistants; Dental Hygienists; Diagnostic Medical Sonographers; Dietetic Technicians; Dietitians and Nutritionists; Emergency Medical Technicians and Paramedics; Healthcare Support Workers; Health Diagnosing and Treating Practitioners; Health 

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Ex-Philly Lenny Dykstra in bankruptcy fraud plea deal

Lenny Dykstra, the former star Philadelphia Phillies outfielder, entered a plea agreement with federal prosecutors who accused him of defrauding creditors by declaring bankruptcy and then looting his $18 million mansion. The government filed the sealed plea agreement on Tuesday, June 26, 2012 with the federal court in Los Angeles, CA. Prosecutors accused Dykstra of stealing, improperly selling and destroying more than $400,000 of artwork, chandeliers, a grandfather clock, a stove and other items from his six-bedroom, eight-bathroom mansion in Thousand Oaks, California. He had bought it in 2007 from hockey legend Wayne Gretzky. Dykstra had filed for Chapter 11 

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C is for CASH

Would you like to save a few thousand dollars a year? Practice the following ten financial tips and start saving today. 1. Terminate your landline immediately. Everyone uses a cell phone these days and there is no good reason to keep paying two phone bills every month. Savings: $50.00 / month 2. Change your cell phone plan. Almost every wireless carrier has an unlimited plan that includes unlimited minutes, text and internet for $50.00. Switch today. Savings: $100.00 / month 3. Cut the cable cord. Switch out your Xfinity or Fios plan to a basic digital plan and sign up 

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Leaving college with a degree and thousands in debt

By Alan J. Heavens Inquirer Real Estate Writer Americans are graduating from college today with mountains of debt that will take years to dig out from under. Two-thirds of 2011 graduates of four-year colleges accumulated an average of $34,000 in debt each, according to FinAid.org – more than triple the amount of a 1992 graduate. For those who went on to medical or law school, the final cost could be 10 times that amount. Until they get rid of the debt, “it is inconceivable that they’ll ever be able to buy a home,” said Steven M. Dunne, a Philadelphia consumer-bankruptcy 

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A is for Arrest

A is for Arrest If you’re behind in paying your bills, a debt collector may be contacting you. The Fair Debt Collection Practices Act prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you. What practices are off limits for debt collectors? Debt collectors may not harass, oppress, or abuse you or any third parties they contact. For example, they may not: use threats of violence or harm; publish a list of names of people who refuse to pay their debts (but they can give this information to the credit reporting companies); use obscene or profane 

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