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Financial Freedom Podcast

A semi-monthly podcast that brings you advice and interviews with experts on various important topics to help you make better and smarter financial decisions in order to improve or maintain your financial situation.
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Now displaying: Category: general
Oct 17, 2016

One part of a financial strategy that is often overlooked is dealing with death and disability. It is an unpleasant topic that no one wants to think about, but one that has to be addressed. Failing to plan for them can threaten to unravel all of the work that you have done to date to ensure financial freedom. It could prevent your assets from going to those whom you want to receive them or cause major disruption if you become disabled or incapacitated.

So in this episode, I talk about why you need a will, a living will, and a power of attorney to protect your financial plan and prevent disruption and chaos in your financial life. I will discuss what can go wrong without them, and how having them can prevent these problems.

Sep 30, 2016

One option people have for dealing with their debt is to negotiate a compromise figure, so as to get a balance that they can afford to pay, either in a lump sum or in payments over time. They may not be able to afford $7,500, but they can afford $5,000. In this way they can avoid bankruptcy and still pay their creditors.

A complication comes in, however, in that the $2,500 you saved on the deal is considered taxable income by the IRS! This can come as a nasty surprise when it comes time to prepare your return. But there may be a way to avoid those taxes if you know what to do. That is why, in this episode, I invited local accountant Jerry Glauser onto the show to talk to me about the solution to this problem.

Aug 26, 2016

When it comes to home mortgages, there are many options out there. You can go to a conventional, neighborhood bank, your credit union, or the online companies that are advertising on TV. Lately there have been a lot of commercials about people applying for a mortgage in their underwear, or in a movie theatre from their smartphones. Companies like LendingTree and RocketMortgage really want your business and emphasize the ease and convenience that they offer.

Choosing which option to go with is very important, not only in the short term, with insuring that you will be approved for financing the home of your dreams, but also in the long term of living with a 15 to 30 year mortgage. So in this episode I talk again with local real estate Broker Lynn Stambaugh of Cardinal Real Estate Services to see whether the convenience touted by online mortgage companies comes with any downsides that you should consider.

Jun 22, 2016

I get calls from people all the time who are facing the loss of their home through foreclosure. I am able to help many of them get their mortgage back on track with a chapter 13 bankruptcy, but that is not always the best solution.

So in this episode I speak with Lew Adler, an attorney here in Woodbury, Gloucester County New Jersey, with 30 years of experience. For many years he has been helping people fight back with their mortgage companies when a foreclosure was brought against them.

If you are facing the loss of your home, then this episode is for you. Find out what defenses and options you may have to deal with the mortgage company and not have to move out.

Jun 16, 2016

One of the biggest things that can lead to financial ruin is medical debt. Catastrophic illness or injury that results in long hospital stays and recovery can result in crushing bills, even where there is insurance coverage. However, proactive and aggressive handling of that debt can often leverage it down to manageable levels.

So in this episode of the podcast I am going to talk about strategies and approaches to managing this debt here in New Jersey in hopes of helping you make it affordable, avoid bankruptcy, and preserve your credit.

May 11, 2016

If creditors are suing you here in New Jersey to collect on a judgment, then unless you fight it and win, they will enter a judgment against you and try to collect it.  But what can they do? What tools are at their disposal to get your money and how can you defend yourself? These are things I talk to clients about all the time, so in this episode I go over them, so that you can get a clear idea of what you are facing, and what you can do to defend yourself.

Apr 29, 2016

People in financial difficulty here in New Jersey often get sued by their creditors to collect their debts. These suits usually lead to judgments because people don’t think they can fight them or try to fight them based on an inability to pay defense and lose.

But sometimes there is a basis to fight a lawsuit, but people don’t know they have it. More and more in this country it has become the practice of creditors to sell their claims to debt buyers in order to get “half a loaf” in terms of money and avoid the hassles of collection efforts. Companies like Midland Funding, LVNV Funding, Cavalry Portfolio, and New Century Financial will pay a fraction of the balance on a huge number of claims and then bring suit to collect for large profits.

If this is happening to you, then you need to consider whether you want to fight any claim they bring. In this episode, I talk about what defenses you may have to a debt buyer lawsuit, and how they can help you.

Apr 20, 2016

April is Distracted Driving Awareness Month, so in this episode I talk about this topic and how public awareness has increased, along with the penalties of doing so, as states toughen up their laws. Penalties in New Jersey are now more serious, as third or subsequent offenses can result in a license suspension, and any resulting injury or death of another person can lead to criminal charges!

The organization People Against Distracted Driving (PADD) was formed by Mike Kellenyi after the 2012 death of his daughter, Nikki, to raise public awareness and work towards reducing/eliminating distracted driving in this country. Also as a part of my office’s observation of Distracted Driving Awareness Month, I interviewed Mike Kellenyi to find our what PADD is up to. Find out with me!

Mar 31, 2016

People facing foreclosure on their homes and trying to salvage what they can of their credit, or those who are upside down on their homes and looking to get out from under, often turn to a “short sale” as the solution. But a short sale isn’t what most people think it is, and isn’t the “silver bullet” they hope it will be.

In an effort to bring the truth to people, I talked to a local expert on the subject, Lynn Stambaugh, the broker/owner of Cardinal Real Estate Services here in Woodbury. If you are considering a short sale of your home, she is worth a listen, and if you need solutions for an “upside down” home, she is worth talking to.

Mar 11, 2016

People in financial difficulty often have low credit scores that prevent them from achieving their financial goals and dreams. So in this episode, I talk about what has to be done to clean up your credit reports and start increasing your FICO score.

Feb 25, 2016

Getting a traffic ticket in New Jersey can have consequences beyond just the fines, court costs, surcharges, and even points that may be assessed. As a New Jersey resident and licensed driver, you might also face additional financial problems in the form of increased auto insurance premiums.

These problems could be minor or significant, depending on the violation, but they do play a factor in your decision on whether to plead guilty. If your budget does not have any disposable income after the monthly bills are paid, or you don’t have savings, they can wreak havoc on your plans for a better financial future.

Not surprisingly, the question of “How will this affect my insurance?” is one that I get a lot. So in this episode I interview Dave Strout of Cettei & Connell in Woodbury, New Jersey, to give you a great answer to that question!

 

Feb 14, 2016

Financial freedom often comes from a job or career obtained as a result of a good education. But graduating with enormous student loan debt can stand in the way of that freedom. In this episode, I talk about how to create a smart and affordable financial aid strategy so as to minimize the likelihood of graduating with unmanageable loan debt!

Jan 14, 2016

Have you made a new year's resolution to be more financially secure? Then check out these tips to making that resolution a reality!

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