Laura Day’s Top Ten List – Number 6: Valuation

There are some things we see over and over that are really not in your best interest.  Here’s why: #6.       Value/Schmalue All estimates of value are really opinions—opinions of the owner, opinions of the lender, and expert opinions of appraisers based on recognized appraisal methods.  At the beginning of the “economic crisis” in

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Laura Day’s Top Ten List – Number 8: “Friends and Family” Plans

There are some things we see over and over that are really not in your best interest.  Here’s why: #8.        The “Friends and Family” Plan Although the telephone advertising of the “Friends and Family” plan is enticing, it should not be used for creditors.  Either borrowing outright from friends and family

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Laura Day’s Top Ten List – Number 9: Withholdings

There are some things we see over and over that are really not in your best interest.  Here’s why: #9.  Changing your withholdings to generate more quick cash We sometimes see individuals who have changed their withholding taxes by increasing deductions so that there is more take-home pay, which new-found cash is used

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Laura Day’s Top Ten List – Number 10: Retirement

There are some things we see over and over that are really not in your best interest.  Here’s why: #10.  Using your 401(k) retirement funds for creditors  The IRS tells you it is perfectly OK to “borrow” from yourself out of your retirement funds and pay it back later, even though there will

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Welcome!

We are a Lexington, KY based law firm which focuses on workouts, bankruptcy, and commercial litigation. We are dedicated to helping Kentuckians resolve debt related issues. Whether you are a small business owner struggling to keep the lights on, an individual that has too many credit card or medical bills,

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Getting Started – Number 3

Thanks for coming back!  We know our business clients are put off by how much information we ask for.  We’re not looking for more paper to sift through, we have just seen how what we don’t know can jump up and harm our clients.  Here are a few more examples:

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Making Decisions – Part 2

There is a huge volume of expert psychological material about how people make decisions. Read “Blink” by Malcolm Gladwell.  In my view, the best decisions are some combination of gut and brain, thinking analytically with your full brain, but also listening to your heart, your intuition, your higher being, or whatever you

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Making Decisions – Part 1

We often work with clients who hesitate, stall, and cannot decide what steps to take and which way to go.   I don’t necessarily think that these individuals are indecisive as much as they are afraid – afraid it won’t work, afraid it won’t be well-received, afraid to admit they have

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Avoiding the National Foreclosure Crisis

Avoiding the National Foreclosure Crisis There are alternatives to foreclosure proceedings. Prevention requires action. Be aware of your financial situation, ignoring the problem will only make it worse. Waiting to ask for help may result in the loss of your home. If you are unable to make a mortgage payment

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