Bank finance articles and tips

These days, most Americans use credit cards in one form or another and carry a balance each month. Everyone has been affected by the economic meltdown. People living off social security benefits are no exception. If you are in over your head and in a lot of debt, and receive social security benefits (SSB), you may be wondering if receiving SSB will affect your ability to file a bankruptcy case. The answer depends on your specific financial situation.

If you currently do not own any real estate and the only income you receive is social security income, you are technically judgment proof because your SSB are exempt from collection activities, such as garnishments and levies. If this is your situation, you may not need to file for bankruptcy. Even if your creditors file a lawsuit against you and obtain a judgment, they cannot levy against your SSB. The most important thing is to make sure you can prove that everything in your bank account is derived from SSB and not commingled with other sources of income. It should not be too difficult to prove all the money you have is from SSB if that is your only source of income.

A felony conviction is usually seen from an employer's standpoint a huge deterrent. It often causes other less qualified individuals get hired over you because of your conviction. It can even reduce the amount you'll be paid because the employer knows that you'll have trouble finding a job no matter where you go, causing you to get hired at a "discount." Below is a list of jobs that statistically aren't affected by having a criminal record. This list includes both white collar jobs such as an office clerk, medical assistant, and sales person as well as blue collar jobs such as a mechanic, plumber, and construction worker.