Bankruptcy Information

Tenant loans are designed for individuals who are seeking a loan but do not own any property, home or other forms of real estate that can be used for collateral. In many ways, tenant loans are similar to credit cards where individuals can get an unsecured loan do whatever they want. However, tenant loans should not be confused with credit cards as the loan amount is not revolving and they must be repaid in their totality within a specific period as determined by the creditor.

When applying for a tenant loan, there are some important points that must be understood so that the debtor can know exactly what they are getting into. These include:

1. High interest rate:

In the eyes of many financial institutions, tenant loans are considered as high risk. This is because applicants are most likely renting their present abode and are thus classified as not have a permanent address.In addition, many applicants of tenant loans suffer from bad credit and are forced to utilize this service as a last resort.

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Tags: Loan, Tenant Loan

I was privileged to attend an insider’s breakfast briefing with guest speaker Congressman Ed Royce of the 40^th District a couple weeks ago. This event was hosted by the Fullerton Chamber of Commerce. When Congressman Royce spoke about the impact of economic reform and healthcare, as it relates to small business here in California, he mentioned that businesses were hoarding capital and not spending because of the uncertainty in Washington. We all know that the economic recovery is primarily dependent upon spending, but most Americans are still working on paying down their debt.   Adding to the lack of consumer spending is the national jobless rate holding at 9% and here in California, we rank third with 12.3% unemployment rate.

Ironically, as Mr. Royce

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As consumers continue to struggle under the weight of a lagging economy, many Americans are trying to refinance their car loans.

Unfortunately, scammers have taken notice and are increasingly trying to bilk people of their hard earned cash. According to Rosemary Shahan, the president of Consumers for Auto Reliability and Safety, car loan scams are a “problem just about everywhere.”

Shahan recognizes that many people are able to refinance their car loans, but warns that “the way to do it isn’t to go to these companies who are out there advertising, ‘We can miraculously get you out of this excruciatingly bad deal.”

A recent article from MarketWatch provides some tips aimed at helping you avoid car loan scams:

• Choose wisely: If you want to refinance your loan, don’t opt for a group that heavily advertises its miraculous refinancing abilities. Instead, choose a safer organization, like a credit union or nonprofits like the Consumer Federation of America, or the National Foundation for Credit Counseling.
• Speak with your lender: Since no lender wants to go unpaid, they are often willing to work with you to adjust your payment plan. According to

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Tags: Car Loan, Loan

If investing is something new for you, it is best to follow a guide by those who have done and done it successfully. It can be complicated, but it really doesn’t have to be. By following this guide, you can determine your investment budget, know when to buy, and put your money to work for you.

How much you should invest

A good investment strategy depends on how much money you want to start with investing.

• If you have only $50 a month to work with, you can do something with it. You could make small investments into mutual funds or even exchange-traded funds.
• If you have a lump sum of less than $10,000, you options open up more. Since most mutual funds have minimums concerning their investment requirements (usually $500 to $2,500), you could invest in them. However, do not put all your money into one fund- the same as putting all your eggs into one basket. Try to invest in 5 or 6 different mutual funds; so, say, for instance, if the U.S. s

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Tags: Guide, Guide Summer

Homestead protection in bankruptcy gets complicated when there are non-resident co-owners of the debtor’s homestead. An example is when parents help an adult child buy a home and insist on placing their names as co-owners of their child’s house.

A caller from south Florida asked me how a Chapter 7 bankruptcy would affect his homestead owned jointly with his parents free and clear.  His parents purchased a house in Florida for their son. The house was titled jointly in the names of the son, who lives there, and the two parents. All three family members have credit card problems and are considering bankruptcy. The son asked me whether his Chapter 7 bankruptcy would affect is parents’ interest in his house. The house qualifies for unlimited homestead protection under the bankruptcy rules.

If the son files Chapter 7 only the son’s partial interest in the house is at issue. The Chapter 7 trustee has no interest or rights relating to what the parents own including the parents’ interest in the house (if any). The son’s

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Tags: Bankruptcy