Recent content by phoenyx

What is the name of your state (only U.S. law)? MI Are FICO scores only affected by current balances and usage percentages, or also by past ones? Meaning, if I know I will be applying for a mortgage in 1 year, do I just need to make sure I have my balances and usage percentages low in time to...

What is the name of your state (only U.S. law)? MI An appeal was submitted to an insurance company approximately 200 days after an initial denial. The insurance company is denying the appeal as being untimely. (The applicable section of their policy terms is below, in italics.) We didn't...

I live in Michigan. I had a HSBC Bank credit card charge off about a year and a half ago when my husband lost his job and had to file chapter 7 bankruptcy (he filed, I didn't file with him.) We are in a better situation now and are able to pay. My primary concern at this point is getting the...

I and everyone in this post are in Michigan. My sister-in-law (my wife's sister) receives monthly SSI payments. I'll refer to her as Rose. Rose is 29, and was approved for SSI about 5 years ago with the assistance of my mother-in-law. Although it was a disputed and borderline case, in the...

In Michigan... I have a client who started an S-Corp in 2000. He initially owned 60%, but in 2004 purchased the other 40%. The S-Corp then tanked quite hard, and is largely not operating at this point. It has about $2,000 in assets to its $300,000 in liabilities. The majority (now 100%)...

In Michigan... I have two clients who started an S-Corp together in 2000. One of them initially owned 60%, and the other 40%. The minority shareholder sold all of his stock to the majority shareholder in 2004 for a token $20 payment. The majority (now 100%) shareholder is going to be...