Unemployment is extremely low right now and incomes are rising, so you would think that Americans would be living the high life. But the fact is that most of us are struggling. How is this possible? A November 2018 study released by the Center for Financial Services Innovation (CFSI) found that 17% of Americans are financially […]
The saying “timing is everything” applies to many things in life, and that includes how bankruptcy can affect your inheritance in California. If you received an inheritance before filing for a Chapter 7 bankruptcy, it can become part of your bankruptcy estate just like any of your property unless you can protect it with a […]
Between July 1, 2017 and June 30, 2018, more than 750,000 Americans filed for bankruptcy under Chapter 7 or Chapter 13 for nonbusiness debts, including nearly 65,000 here in California. Almost all of those people are honest hardworking Americans, and for them the bankruptcy process represents a welcome reprieve from overwhelming debt and overbearing debt […]
In 2009, a person (or group—no one’s quite sure) using the name Satoshi Nakamoto launched Bitcoin, a new digital currency. Early on, the value of bitcoin was so low that one person paid 10,000 bitcoins to purchase pizza from Papa John’s. By December 2017, the price of each bitcoin had increased to nearly $20,000, and […]
Identity theft occurs when one person obtains personal or financial information about another and uses it for some fraudulent purpose, such as financial gain. For example, identity theft often involves opening a new credit account under another person’s name. It can also be used to commit tax fraud, such as by filing a tax return […]
In the 21st century, the cost of housing has outpaced salaries and benefits packages for workers nationwide, leaving many at a deficit. Los Angeles has one of the higher average salaries in the United States at $62,550, but the 43% overall higher cost of living offsets the income data, leaving millions of Californians with little […]
Desperate times call for desperate measures, or so the saying goes. When you find yourself low on cash and beset by debt collectors, it can be tempting to try to protect whatever property you do have by transferring it to someone else. But you should resist that temptation. Both California law and the U.S. Bankruptcy […]
As summer approaches, romance is in the air and you might be in the mood for a date night with your sweetheart. But how can you paint the town when your wallet is feeling light from the cost of living in Los Angeles? In fact, there are many affordable and even free options to explore […]
Los Angeles residents spend approximately 12% of their budget on food, a figure that many would like to reduce. While there are some affordable grocery stores in Los Angeles, eating out can be very expensive, especially if it’s healthy food you seek. In fact, the average lunch bill in L.A.’s business district can run you […]
As people begin to think about retirement, a common question they ask financial advisors is whether they should concentrate on paying off their debt or putting aside money for retirement. The answer is not the same for everyone. Primarily it depends on: What kind of debt you are carrying and What system motivates you. Many […]
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