July 26, 2017

Gain Financial Freedom in your Pursuit of Happiness!

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Every year I re-read the Declaration of Independence and meditate on the amazing freedoms I enjoy (and sometimes admittedly, take for granted). This year I have been studying the history of Bankruptcy in America and came across this wonderful book called Republic of Debtors: Bankruptcy in the Age of American Independence by Bruce H. Mann.

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After reading a bit of this book, I realized how incredibility blessed we are to have the laws that allow us to file Bankruptcy with ease of process, and without judgment or fear. It wasn’t always that way and not everyone who suffered from crushing debt was given that second chance. It took years and a lot of legislation to get the laws where they are today; the laws that protect debtors from their creditors.

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I believe the secret to happiness is the freedom of choice. When you choose to take the first step to get out of debt you begin on the road to financial freedom. Bankruptcy will help you keep your home, relieve you of unsecured debt, keep your utilities on and give you the freedom to start over. It was the best thing that ever happened to me (read my personal Bankruptcy story here) and was my own declaration of independence.

25% Off Estate Planning / Reminders & Announcements

For the month of January 2017, all Estate Planning Packages are 25% off.  They include a Will, Living Will and Power of Attorney.  Also, we are announcing that we are moving from 74 Cherry Street to 50 Cherry Street, Milford, CT as of February 1, 2017, and we will be starting a new Blog/Vlog Series in February 2017 regarding the entire Chapter 7 Bankruptcy process!!

My Gift to You and Yours!

 

Everyone over the age of 18, especially parents of young children, need a simple Will, Living Will and Power of Attorney (these documents together are formally called an “Estate Plan”).

Estate Planning can be given as a gift to others and/or it makes a great New Year’s Resolution for yourself.

As a mother, and an attorney, the importance of planning for the future is at the top of my list!

Therefore, my gift to you this holiday season is 25% off all estate planning packages for the month of January 2017.  Please feel free to share this with your friends and family.

The process of making an Estate Plan is as easy as 1-2-3: First we talk, then I create the documents and lastly, you come in to visit me and sign them.

To arrange a free consultation in person or over the phone, call our office at 203-713-8877.

Have a Safe and Happy Holiday!

With much love & gratitude,
Theresa Rose DeGray
Attorney at Law

PS: Stay tuned for lots of exciting announcements, information, seminars, videos, blogs and much more in 2017!

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Minimum Continuing Legal Education (MCLE)

Notice to All Members of the Connecticut Bar and Authorized House Counsel

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Effective January 1, 2017, new Connecticut Practice Book Section 2-27A will require, with certain exceptions set forth in the rule, all members of the Connecticut Bar and attorneys certified to be Authorized House Counsel (AHC) in Connecticut to complete a minimum of twelve hours of continuing legal education each year, at least two hours of which shall be in ethics and professionalism.  Certification of compliance with the MCLE requirement will be done during the following year’s online registration process (e.g. the attorney or AHC will certify his or her 2017 compliance when registering in 2018).

The Commission on Minimum Continuing Legal Education has been established to aid attorneys and AHCs in understanding the rule and complying with it.  The Judicial Branch has also established a dedicated MCLE website at http://www.jud.ct.gov/MCLE/, where attorneys and AHCs can view the MCLE rule, FAQs developed by the Commission, forms, and a videotaped seminar conducted on November 7, 2016 regarding MCLE.  An attorney or AHC who watches the videotaped seminar may take 1.5 hours of MCLE credit in ethics/professionalism that can be carried over to the attorney’s or AHC’s 2017 twelve hour MCLE requirement.

Unlike many other states, Connecticut does not certify courses or providers. Connecticut lawyers are urged to independently review Practice Book §2-27A and make their own determination that a course qualifies for credit towards their MCLE requirement taking into consideration the delivery and content requirements of the rule.  If a course has been approved for CLE credit in another jurisdiction, then it automatically meets the content and delivery requirements in Connecticut, subject to the caveat that credit hours are awarded in Connecticut based on “actual instruction time” (e.g., 60 minutes of instruction time equals one credit hour of Connecticut CLE).

If after visiting the MCLE website and reviewing the information provided there, an attorney or AHC has a question about the MCLE rule, the attorney or AHC may contact the Commission at MCLE@jud.ct.gov for further information.

Back To School Shopping On A Budget

Back to school shopping is no doubt a pain for all parents. If you’re watching your finances, school supply shopping can be even more difficult. However, back to school shopping on a budget can be a breeze if you do it right. Below are some tips every parent should incorporate into their August-September back to school shopping for their children.

  • Set a budget. Go into the back to school shopping season with a specific budget. Let your children know what the overall budget is and that there will be no going over it.
  • Make a list! Get a list of supplies that your children need from each of their teachers. Before you go out and purchase everything, go through your home and look for things you may be able to cross off the list. Look at what school supplies your children have left from the previous year and what things you may be able to reuse. Also separate the list into needs and wants. Get all of the essentials for your child and in order to keep under budget, consider skipping some of the “wants” on the list.
  • Don’t go right to Staples for your child’s school supplies. Get things like pencils and pens from your local Dollar Store.
  • Buy your child a bookbag that will last! Brands like L.L Bean and Jansport have a lifetime guarantee on all their bags so buy one that your child can use year after year so you will definitely get your money’s worth.
  • Reuse! Buy your children plastic folders instead of cardboard and such. The plastic will be reusable for years after the purchase as long as your children take care of them.
  • Look through your children’s closet and see exactly what they need so you may plan ahead. Avoid shopping in August for clothes. If you can, wait until mid September or around that time in order to hit the sales that go on after stores think that everyone in town has already completed their back to school shopping. Alternatively, your family can go clothing shopping for fall clothes at the beginning of the summer in order to take advantage of some deals.
  • Try shopping at local thrift stores or outlet malls. Some thrift stores sell name brands for cheap and outlets always have good deals on clothes and shoes.

 

Back to school shopping no longer needs to be a dreadful, money-sucking event that happens at the end of every summer. If you use these helpful tips, you will succeed in getting all the supplies your children need, but also stay well under your budget.

5 Ways To Save Money At A Carnival

Carnivals are a place that families go in order to have a fun night out together. With no admission fees to most carnivals or fairs, some people have the impression that they are inexpensive. Although, unfortunately, that is not always the case with these game-filled and ride oriented affairs. The cost of food, games, and rides most certainly adds up and your so-called “inexpensive” family night out has run your credit card the same amount of money as a five star dinner for two. Below are five ways to save money on a trip to the carnival.

  1. Allot one treat per child. Instead of spending over $100 on food at the carnival, talk to all of your children in advance and let them know that they are entitled to one treat and one treat only while at the fair. Treats such as funnel cakes, candy, popcorn, corn dogs, and things of that nature are so expensive at carnivals so be sure to bring snacks and drinks with you. Take things from your own home such as water, juice boxes, granola bars, and chips to snack on so your children’s one allotted snack each fills them up.
  2. Take a look at the fair or carnival’s website before you go to check for any deals that may be available. Sometimes there are coupons and discounts for rides only available online that are not advertised. You will never know that discounts and such were available unless you look for them!
  3. Think hard about souvenirs. Do you really need that $15 souvenir cup with free refills? No one needs that much soda in one day.
  4. Scope out the parking situation before the day of the carnival. On-site parking can be costly, but definitely more convenient. Alternatively, if you are looking to save money, maybe find an off-site parking lot that will most likely be much cheaper. Sure, you and your family may have to walk a little bit, but the money you will save will be well worth it.
  5. Limit the rides. Rides can be very expensive at fairs and may run anywhere from $4 to $9 each. Tell your children before even getting to the fair to choose their rides wisely because each child will only be able to pick two or three to go on.

Carnivals can be a fun filled family day, but if you do not plan your trip wisely, they can be quite costly. Check online for coupons and discounts that you may be able to use. Have a talk with your children and let them know that this day trip will not be a free for all. The children will be allotted a certain amount of rides and food choices each. Also think wisely about what souvenirs you buy. If there is a possibility you can get a souvenir somewhere else, it would be best not to buy it at a carnival for a more expensive price. Use these money saving tips above in order to have a fun money-saving family day!

Estate Planning & Identity Theft Seminar | Thursday, April 28, 2016 | Stamford, CT

FCBA SEMINAR

How To Get A Credit Card If You Have Bad Credit

It’s a bit of a catch-22, isn’t it? In order to build your credit, you need to have and use a credit card. But in order to qualify for many credit cards, you need to have good credit. What are you supposed to do when you know that your credit is bad, and you fear that you won’t be able to get a credit card and bring up your credit score? Luckily, all is not lost! You can still qualify for many credit cards even if you have a low credit score. Just follow these tips on getting a credit card with bad credit.

  1. Find out your credit score. You might have a rough idea of what your credit score is, but you won’t be able to truly determine what credit cards you should and should not apply for until you know your credit score. You can get a free credit score report online. Once you know your score, you can plan accordingly.
  2. Know what you qualify for. If your credit score is 600 or above, you will probably be able to qualify for an unsecured credit card. If your credit score is below 600, you will most likely only qualify for a secured credit card. A secured credit card will require that you have the equivalent of your card’s limit available to the card issuer. An unsecured credit card doesn’t carry this requirement.
  3. Shop around. Just because you have a low credit score does not mean that you should be paying outrageous interest and fees. Do some research to determine what the most practical, reasonable credit card is for you. Make sure that you also find a credit card that comes from a reputable bank. Avoid credit cards that have high interest rates, don’t offer a grace period for interest, and that have expensive monthly fees.
  4. When you find the card you want, apply for that card only. You should apply for credit cards one at a time. If you have poor credit, you don’t want to be juggling multiple credit cards. If you are approved for your first choice, stick with this card. If you are denied, apply for your second choice.
  5. When you get a credit card, make your payments responsibly. If you are approved for a credit card, don’t make the company regret accepting your application! Make sure that you make all of your payments on time and that you do not overextend your line of credit. With online payments and credit card apps for phones, staying on top of your credit card has never been easier!

These are my top tips for getting a credit card, even if your credit is less than perfect. For additional advice to help you improve your credit, you can contact me here. I am happy to discuss your situation during a free consultation!

5 Easter Ideas On A Budget

Holidays can be a lot of fun, but they can also get expensive! As Easter approaches, you are probably interested in making some festive food and partaking in fun activities with your children, but you might not be sure if you can afford it. Luckily, Easter is a holiday with many opportunities to save money. For some cheap Easter ideas that your family is sure to love, read on!

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  1. Dyeing hardboiled eggs. This is a classic Easter activity, and it is a resourceful one at that! At 1-5 dollars per dozen – depending on the type of eggs you buy – eggs are a cheap and filling meal. High in protein and good cholesterol, eggs make for a healthy breakfast, so you can feel confident serving them to your family. On top of the money-saving and health benefits, coloring Easter eggs is a classic activity to do with your kids. For a few extra dollars, you can pick up an Egg Decoration and Dye kit. You and your kids can have fun decorating Easter eggs, which will double as a delicious breakfast. Total cost: $3-7.
  2. Easter egg hunt. Another classic Easter activity, you can save a lot of money by reusing plastic eggs and putting small presents in each. Plastic egg packets only cost a few dollars per dozen, and you can fill them with loose change, candy, stickers, special coupons, stick-on tattoos, glow sticks, fruit snacks, etc. Once you invest in the eggs, you will be able to reuse them for years to come. In all, you can create an incredible hunt for your kids for around $10.
  3. Deviled eggs. Another great use for your decorated Easter eggs is to turn them into deviled eggs. This is a simple and easy recipe. All that you need are hardboiled eggs, mayonnaise, mustard, sweet relish, and paprika. You can make a dozen deviled eggs for around $3. Bring them to a party or share them with the family – deviled eggs are always a crowd pleaser!
  4. Easter bunny project. You and your kids can use old paper towel tubes, paint, markers, stickers, and more, to create a cute Easter bunny family. Use whatever you have in your house to create a fun, free activity that you can do with your family. Total cost: free!
  5. Host a potluck arts and crafts party. Invite the kids in the neighborhood or your child’s classmates over for an arts and crafts party. Have each child bring their own activity to contribute to the party – this will provide tons of different ideas for the kids to do at little cost to you. Total cost: $10 to provide some snacks and basic craft resources for the kids.

These are just five ideas for Easter food and fun, but the possibilities are endless. Start with these activities, which will be easy on your wallet, and expand from there.

Happy Easter!

Chapter 7 Bankruptcy Series Part Six: The Chapter 7 Bankruptcy Trustee

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In your Chapter 7 Bankruptcy process there will be 3 main characters: you, your attorney and the Chapter 7 Bankruptcy Trustee assigned to your case.  In short, a Chapter 7 Bankruptcy Trustee is the person who oversees your Bankruptcy Case.

There are currently ten Chapter 7 Trustees in the State of Connecticut who are appointed by the United States Trustee.  The Trustee Program is a part of the Department of Justice.

“The United States Trustee Program is a component of the Department of Justice that seeks to promote the efficiency and prote ct the integrity of the Federal bankruptcy system. To further the public interest in the just, speedy and economical resolution of cases filed under the Bankruptcy Code, the Program monitors the conduct of bankruptcy parties and private estate trustees, oversees related administrative functions, and acts to ensure compliance with applicable laws and procedures. It also identifies and helps investigate bankruptcy fraud and abuse in coordination with United States Attorneys, the Federal Bureau of Investigation, and other law enforcement agencies.” –The U.S. Department of Justice

Upon filing of your Chapter 7 Bankruptcy Petition you will be assigned a Chapter 7 Bankruptcy Trustee randomly by the Bankruptcy Court’s computer system.  I will deliver the name and address of your Chapter 7 Trustee to you by phone or email the day you sign and I file your Petition, and a few days later an official Notice from the Bankruptcy Court will be mailed to you with this and other pertinent information about your Bankruptcy case.

The primary duties of the Chapter 7 Trustee are (1) to examine your Bankruptcy Petition and Schedules, (2) conduct a 341 Meeting of the Creditors (a Hearing you must attend and testify at under oath) and (3) determine if you have any non-exempt assets that can be liquidated to pay your creditors.  Additionally, the Trustee has the power to refer cases to higher authorities to be investigated for Bankruptcy Fraud and/or other crimes, if appropriate.  Therefore, it is imperative that you fully disclose all of your income, assets and liabilities to me during your Bankruptcy process so I may properly prepare your Bankruptcy Petition to avoid any improprieties.

After your Chapter 7 Bankruptcy Petition is filed but before you attend your 341 Meeting we will mail to you a Questionnaire provided by your Chapter 7 Bankruptcy Trustee.  The questions are simple and you should be able to answer them all without assistance (but of course, we are always here to guide you).  An example of one inquiry on the questionnaire would be “have you ever filed bankruptcy before?”  If the answer is “yes,” there will be a few follow-up questions like “What was the case number?” and “Did you receive a discharge?”

Your Chapter 7 Trustee will also provide to my office a list of required documents that the Trustee will examine in conjunction with your Bankruptcy Petition.  The list of requested documents will include such things as Tax Returns, Bank Statements and Paystubs.  Usually I will already have everything that is requested, but I may ask you to provide additional documents to satisfy the requests of your Chapter 7 Trustee.

The next part of my Chapter 7 Bankruptcy series will take you through your 341 Meeting of the Creditors so you are fully prepared to attend the Hearing.

Contact Attorney Theresa Rose DeGray at Consumer Legal Services, LLC (203-713-8877) for more information on this and other Bankruptcy related topics.

This firm is a debt relief agency. We help people file for bankruptcy relief amongst other things, under the Bankruptcy Code.