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Community Journal
LA MIDWEEK ASIAN JOURNAL • JANUARY 11-13, 2017
Do you have these fears about bankruptcy? Immigrant Living: 101 Minding Your Finances Atty. RAymond BulAon Are you struggling with debt problems and have thought about filing for bankruptcy but have questions that you’re afraid to ask? Over the last 12 years, I have counseled and helped thousands of individuals in debt. From what I’ve seen, a lot of people suffer for many years in debt when they could have obtained relief sooner- simply because they have questions about bankruptcy that they are afraid to ask. Instead of asking a bankruptcy attorney, they listen to advice given by well-meaning family and friends but in so doing, only make their situation worse instead of better. Why? Because most of the time, the advice they get is based on misconceptions about bankruptcy. relying on incorrect information can be disastrous to your financial health. If you are currently struggling with debt and one or both of the following statements are true- (a) your total liabilities exceed your total assets Or (b) you cannot meet your financial obligations as they become due- you are ALreADY considered insolvent or bankrupt by law. Now,
you may be in denial about it. You may refuse to accept this reality. But you will never get anywhere with your debt problems unless you accept things AS THeY Are, not as you wish they had been. Here are some of the misconceptions about bankruptcy that I’ve seen that have stopped people from taking action to turn their situation around for the better: Filing bankruptcy means that you’ve failed. FALSeStudies show that most bankruptcy filings are a result of circumstances beyond people’s control. Sickness, disability, unemployment, divorce and death- These events can happen to anyone at any time and when they do, there is often a disruption in income which could lead to bankruptcy. Filing bankruptcy can hurt your immigration status, your application for citizenship or your eligibility for Social Security when you retire. FALSe- Filing for bankruptcy relief is NOT a crime- so don’t be afraid that you will be treated like a criminal if you file bankruptcy!. As a matter of fact, we have laws in this country that protect the legal rights of bankrupt individuals in need of a fresh financial start. It will not hurt your immigration status or affect your citizenship application. You must be behind on all your bills before you can file bankruptcy. FALSe- If you can
see that you’re headed to debt trouble, do not wait until your situation becomes a financial emergency. By filing sooner, you can actually avoid the stress of dealing with creditor calls, lawsuits, wage garnishments and other collection actions. My credit will be ruined forever and I will never be able to buy a house or obtain credit in the future. FALSe- Although a bankruptcy can stay on your record for 7-10 years, the truth is that most people can rebuild credit in only 2-4 years. A lot of people in debt also already have low credit scores due to late payments, high debt amounts, etc. and they are actually better of filing for bankruptcy so they can start fresh again and rebuild their credit. If you are drowning in debt, don’t lose hope. What you need to do is to find out what your options are so you can do something positive about your situation instead of doing nothing. For a free office consultation, please call Toll-Free 1-866-477-7772. We have offices in Glendale, Cerritos and Valencia. ***
and Beyond
Atty. lAwRence yAng
(Part 2 of 4) ANGeLS were strong proactive characters when the story of humanity unfolded during biblical times. And while today, cynics, atheists and those on the dark side might argue that angels are figments of the human imagination, there are countless people who will brave the scorn of scoffers, fight back vehemently and attest to the very real presence of angels in their lives. Trawl the internet and social media and read about how angels, though unseen in many instances, can be felt by many who believe in them. There are many instances when the presence and oftentimes the direct interventions of one’s personal guardian angel are a part of the twists and turns of the unraveling story of many people’s lives. Many have written about their encounters with angels, documenting how their guardian angels are a real part of their lives guarding, guiding and None of the information herein is in- protecting them from harm and tended to give legal advice for any spe- on many occasions, even from cific situation. Atty. Ray Bulaon has suc- death, because their time had cessfully helped thousands of clients in not yet come. I am sure many getting out of debt. For a free attorney others have their own personal evaluation of your situation, please call stories to tell about this unseen Ray Bulaon Law Offices at TOLL FREE 1 entity that can be ascribed to (866) 477-7772. the presence of God himself (Advertising Supplement) – an ever-present help to aid us in navigating life on earth. The common image of an angel is a beautiful heavenly being with piercing eyes, big white pair of wings and long cascading golden hair, robed
Mr. Trump has made filing for bankruptcy relief as a sign that he’s smart. He’s smart he says because his companies filed for bankruptcy 4 times using applicable law. Bankruptcy allowed his businesses to get rid of debt, a lot of it, and bankruptcy allowed him to keep his ownership over these businesses, which emerged from bankruptcy leaner and more productive. So, since we are now in Trump Land, filing for bankruptcy to get debt relief is smart. American bankruptcy laws exist to help debtors become productive again, allowing debtors to keep exempt assets while getting rid of accumulated debt. Hence, if you think filing for bankruptcy when you need it, is dumb, you are wrong. Just ask Mr. Trump. He got away with not disclosing his tax returns and not paying income tax for the last 20 years. And still becoming president elect for our great country. The man is a genius. What are the signs that you will need to be smart next year by filing for bankruptcy? Let’s go over the common red flags that you have to watch out for: 1. Mortgage default or car default: If you are behind in your house or car payments, you have serious cash flow problems. This means that your income is not enough to pay for your most important asset that puts a roof over yourself and your family. Your first instinct might be to blame every one else and everything else. But seriously, you have to analyze your financial situation to determine what the cause is. You might be paying $1K just to service $30K of credit card debt at the expense of paying for your house or car. Chapter 7 or 13 will get rid of the $30K credit card debt, or allow you to reorganize your financial affairs to get rid of your credit card debt with nominal payment while giving you time to cure the default on your house or car. 2. Borrowing from A to pay B: If you borrow from Peter to pay Paul, you are living the il-
security and other sources is critical to survival. It can mean the ability to keep your house when you retire. You can actually keep your house and get rid of your $50K with Chapter 7 or 13 so why pursue refinance? Be smart, that’s the name of the game now in Trump Land. 6. Your savings account doesn’t exist: All of my clients, without exception, answer this when I ask them do you have $5K in your savings account? They always answer: I wish I had $5K in it. I have practically nothing in my savings account. If you have extra money at the end of the month, your instinct will be to stash it away into a savings account. If you have no savings, this means all your income is being used up to pay all your monthly expenses. If you owe $20K of credit cards, you need $600 a month. Instead of saving $600 a month, or $7,200 a year, you use the $7,200 to keep your $20K of credit cards current. That’s why you have no savings and that’s why you need bankruptcy relief. 7. You have maxed out your credit cards: If you have maxed out your credit cards, you are in bad shape financially. Need I say more? You need bankruptcy Chapter 7 or 13 to get rid of your credit cards and start fresh without accumulated debt. Be productive again. Be smart! Best wishes to all readers for the New Year!! If you filed for bankruptcy in 2016, you would have no more debt in 2017, but its not too late. Get bankruptcy relief in 2017 if you need it. It’s the smart thing to do, says Mr. Trump. You crown the year with your goodness, and your paths drip with abundance.” Psalm 65:11 *** Lawrence Bautista Yang specializes in bankruptcy, business, real estate and civil litigation and has successfully represented more than five thousand clients in California. Please call Angie, Barbara or Jess at (626) 284-1142 for an appointment at 1000 S. Fremont Ave, Mailstop 58, Building A-1 Suite 1125, Alhambra, CA 91803.
in all dayparts in Urban Luzon from January to December 2016, Nielsen said. With approximately 900 more homes surveyed in Total Urban and rural Philippines compared to Kantar Media, which provides audience share measurement for ABSCBN, Nielsen said its data is statistically considered more representative of the total TV population. In 2016, Nielsen TV Audience Measurement increased its client pool to a total of 36 clients/subscribers which now include 12 local TV networks,
five regional clients, two blocktimers, and 17 media agencies. GMA subscribes to Nielsen along with other local networks TV5, Aksyon TV, CNN Philippines, Net 25, Solar entertainment Corporation, Viva Communications Inc., among others; regional network Fox Networks Group; blocktimers CBN Asia and TAPe Inc.; and major advertising and media agencies such as ebiquity-Faulkner, Dentsu Aegis Network (Carat, Mediaforce Vizeum, Dentsu), GroupM (Mediacom, Mindshare, MeC and Maxus), Omnicom Me-
is a memorable line in this classic film that is intended never to get old and aptly becomes new again for a new generation around the Christmas season. On the other hand, in the warped imagination of liberal film makers, “Michael” supposedly about Michael, the Archangel, the highest seraphim who fought Satan and flung him to the burning sulfurous depths of hell and believed to be the protector of the nation of Israel, is portrayed as somewhat of a sleaze who is more human than angelic. In this film, Archangel Michael can charm females because he smells of cookies and who is a bit of a Lothario to boot. It may be somewhat funny to color outside the lines in portraying angels but don’t be fooled by the liberal yarn on angels. Hollywood, in my opinion, has no gravitas on angelic matters. Trust your own instincts. Your own personal experience will color the lens with which you view and relate with your personal guardian angel. God so loved the world, He sent His only son to redeem us from sin and death so we may gain eternal life — not unlike His angels. (To be continued …) *** Nota Bene: Monette Adeva Maglaya is SVP of Asian Journal Publications, Inc. To send comments, e-mail monette.maglaya@ asianjournalinc.com
PAGE B12 t progress, then these groups in the eU should be able to support us so we’d be able to progress well and help the economy. If there is prosperity, there would be less of this crime, and less need for that,” he said. Prior to the proposed revival of death penalty wherein President Duterte threatened to execute criminals daily, the Commission
on Human rights has warned the government about its war on drugs and the alleged cases of extrajudicial killings, saying that these may put in danger the country’s privileges under the eU-GSP+. In January last year, prior to the entry of the current administration, the european Commission said the Philippines has been making progress on
Calendar of Events across
implementing the 27 international conventions after it adopted its first GSP monitoring report to the european Parliament and assessed the Philippines’ implementation of the conventions. When asked on what will happen should the eU revokes the Philippines GSP+ status, Lopez said “we will probably channel our exports to other market.” n
America
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Feast of Santo Niño in Los Angeles On Sunday, January 15, 2017, at 3:30 pm, a mass sponsored by Santo Niño Cruzada USA, will be held at the Cathedral of Our Lady of the Angels to celebrate its 30th year anniversary of the solemn Feast of Santo Niño, the Divine Infant Jesus. The Southern California Sinulog Dance Co. will perform traditional Sinulog dances after the mass. Although the devotion to the Divine Infant has roots in Europe, Filipinos are known for their fervent devotion to the Infant Jesus, celebrating with religious and civic activities. As a result, Filipino immigrants brought their Santo Niño to the United States to be their spiritual recourse, assistance, and protector. We celebrated the first Feast of Santo Niño in 1986 at then Saint Vibiana’s Cathedral in downtown Los Angeles. It was in the summer of 1988 that the original group of Santo Niño devotees formally organized under the name, Cruzada de Santo Niño. The organization’s name was eventually changed to its present name, Santo Niño Cruzada, USA. As in any organization, the organization’s path to success is measured by the dedication and commitment of the officers and members whose primary goals are to promote devotion to Santo Niño, provide individual sanctifications, give aids to needy families and be united with other Santo Niño groups. For more information in this year’s celebration, please contact any of the following officers and members: Romy & Tess Esturas: (213) 387-6982 Rey & Tess Edpao: (818) 469-7292; Carmen Estrada: (213) 413-2881; Fe Montano: (323) 218-1587; Ester Paredes: (213) 864-1149; Lilia Figuracion: (626) 394-2661; Fe Reyes: (213) 413-5286; Cherry Guerrero: (213) 747-6508; Tessie Cruz: (213) 361-0937; Vicky Samia: (818) 851-2262; Laurie Dolorfino: (213) 407-0097; Maria Oclarino: (213) 427-0353.
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GMA outranks competition...
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in androgynous white gown and who is neither male nor female but to which we ascribe the word “he” just for convenience. An angel, who is an eternal celestial being, is not subject to the constraints of gravity, time, space or language problems. Communication between protector and protectee is often wordless and automatic. Some are messengers and some bring punishment and death but each has a definite purpose, most of which are beneficial to humans. Some claim to have seen their angels appearing differently from the common image we believe of winged beings. Some morph into human form to lend a hand, to protect from danger or avert disaster then disappear quickly. They appear specially when the humans they are protecting find themselves in dire straits and need help. As one might imagine, angels are extremely busy considering the weakness of humans and their predilection to stray from the straight and narrow. In Frank Capra’s classic Christmas film, “It’s a Wonderful Life,” Clarence, a portly, bumbling character aspiring to become an angel must earn his wings by doing something good for a human being in desperate need and contemplating suicide. “every time a bell rings, an angel gets his wings,”
Death penalty revival...
Best wishes to all readers for the new year! lusion that your finances are ok but in truth, you are not paying down your debt. If you borrow $50K from Peter to pay Paul $50K, you owe the same $50K, except you now owe it to Peter instead of Paul. Maybe the $50K loan from Paul matured today so you got a new loan of $50K from Peter, which matures in 12 months. Yes, you bought yourself 12 months but admit to yourself that you have serious debt problems you are not able to pay down the $50K from your own money. 3. Raiding your retirement account to pay debt: Never ever use retirement money to pay debt. retirement money is for retirement. Is that clear enough? That’s why its called a retirement account. Let’s say your IrA or 401K is $70K. You want to pay off your credit card debt of $30K. Don’t make the mistake of using the retirement account to pay off the credit card of $30K. First of all, there is a penalty for withdrawing early. Second, you can wipe out the $30K credit card debt while keeping all of your $70K retirement account intact with a Chapter 7 or Chapter 13, so why sacrifice your financial security when you retire? 4. You sacrifice necessities to pay debt: Let’s say you owe $40K of credit cards that require $1,200 of monthly minimum payments. Your net income is $3,000. You only have $1,800 for necessities. Necessities are food, shelter, transportation, insurance etc. If you feel the constant tug between necessities and credit card payments, you may need bankruptcy relief to get rid of the $40K credit cards. It’s pretty hard to have your family eat less or not pay the rent. 5. Refinancing your house to pay down credit card debt: If you are really tempted to refinancing your house to cash out $50K to pay off $50K of credit card debt, think again. Adding $50K to your mortgage now means adding $200 to your mortgage. When you retire, $200 more for the mortgage is an amount that you cannot afford. When you retire, every dollar from social
Angels among us “Every time a bell rings, an angel gets his wings.” — From Frank Capra’s film “It’s a Wonderful Life”
monette AdevA mAglAyA
Signs that you will you need bankruptcy relief in 2017
Debt Relief
dia Group (OMD, PHD and M2M), Zenith Optimedia, and Starcom Mediavest. Meanwhile, the Kapuso Network opens the New Year with a new line-up of programs starting off with the light romantic-drama Meant to Be top-billed by Barbie Forteza. Also in the offing are the much-awaited first TV series of Alden richards and Maine Mendoza, Destined To Be Yours, as well as the Filipino adaptation of the phenomenal Koreanovela My Love From The Star, starring Jennylyn Mercado and Gil Cuerva. n
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Historic Filipinotown Scavenger Hunt Explore the cultural gems of HiFi (Historic Filipinotown) by joining the 2nd HiFi Scavenger Hunt Fundraiser on Saturday, January 28 from 8 a.m. to 11 a.m! Meet Filipino-specific challenges (from a Balut eating contest to dancing Tinikling to a hip hop beat!). You may find yourself meeting a little-known community hero, tasting a Filipino food challenge or receiving your very own Filipino nickname! You will be having a blast while building your bayanihan spirit by asking your friends and family and even your Facebook fans to donate money to sponsor your Team to take this challenge. You and your team choose your own fundraising goal! Funds raised by this event will go to the programs and services of 2 HiFi community organizations, Pilipino Workers Center (PWC) and Filipino American Service Group, Inc. (FASGI) to provide vital services to families, workers and seniors in our community. Services include free or low-cost citizenship application assistance, human trafficking survivor support, civic engagement, wage theft claims assistance, cultural programs and more! Have fun, Discover Historic Filipinotown win prizes and support your community while doing it! Go to www.pwcsc.org/HiddenHiFi to sign up now. PWC is located at 153 Glendale Blvd. Los Angeles, CA 90026.
If you have an upcoming event and would like us to post it, please email us the details at info@asianjournalinc.com or calendar@asianjournalinc.com