Dream It or Live It – Kilimanjaro Challenge 2017

On September 24th, 2017, I will be climbing Mount Kilimanjaro in Tanzania, the world’s highest freestanding mountain, to assist the Philadelphia-Serengeti Alliance (PSA) mission of building water wells in the Serengeti, Rorya and Busega districts of Tanzania. Water development is of the most fundamental importance. Women and girls in Tanzania bear a great burden due to the scarcity of clean, safe drinking water. They are deprived of education, largely because their time is taken up by the laborious task of carrying water from rivers and streams, which can take about half a day. What water there is, often carries dangerous microorganisms, and while fetching 

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Divorce & Bankruptcy

Divorce & Bankruptcy It’s common for a debtor to file bankruptcy shortly after their non-filing spouse files for a divorce. Sometimes this is done out of necessity and other times it’s simply done out of spite. In either event, it’s actually best for both individuals to file a chapter 7 bankruptcy together, especially if both spouses have a lot of joint debt that could be erased in a little over 3 months. Automatic Stay & Bankruptcy It’s important to remember that a non-filing spouse must be very careful once their ex-spouse files bankruptcy as they could be in violation of 

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Wells Fargo’s CEO John Stump walks with $120 million

The Verdict John Stumpf artifically boosted the value of Wells Fargo stock by illegally, and fraudulently creating as many as 2 million unauthorized accounts and instead of going to jail – he is rewarded with a golden parachute, approximately $120 million for his ill-gotten gains. White Collar Crime The real question is why Wells Fargo’s John Stumpf has not been prosecuted for white collar crime? And the sad consequence of not prosecuting this behavior means that this criminal mischief will continue to occur in the future. The Solution Prosecutors need to cultivate some chutzpah; some nerve; some audacity and prosecute 

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The Bankruptcy Means Test: Are You Eligible for Chapter 7 Bankruptcy?

The bankruptcy “means test” determines whether you are eligible to file Chapter 7 bankruptcy.  The purpose of the means test is to determine who can file for Chapter 7 relief (which requires no payments to creditors as long as assets are all exempt), and who needs to file for Chapter 13 bankruptcy (which requires a small repayment to creditors for 36 to 60 months).  The following table provides the median family income in Pennsylvania for cases filed On or After November 1, 2016: Individual           Family of 2           Family of 3 

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What I’ve learned from my bankruptcy clients

Minimize Expenses The best way to maximize your monthly income is to take a good, hard look at your monthly expenses to determine what can be reduced or eliminated. Mortgage Payment Too many debtors’ have Forced Placed Insurance (FPI) which is a really expensive form of property insurance that typically costs around $2,400 per year. This type of insurance should cost no more than $125  per month or $1,500 per year. A savings of close to $1,000 per year. Cell Phone Almost all debtors’ in bankruptcy case have a cell phone plan with the major carriers costing anywhere from $150 to 

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