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When Divorce Becomes Bankruptcy

  Studies have shown that couples are extremely likely to divorce because of financial reasons. Aside from arguments about sex, money issues represent the number-one reason couples decide to divorce. Almost inevitably, these couples are struggling with serious debt while they are in the process of a divorce, which is why oftentimes divorce becomes bankruptcy.…

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Hiding Income Through a HELOC

Don’t overlook home equity lines of credit (HELOCs) when assessing income. Case in Point: A self-employed individual had minimal deposits to his bank account, minimal checks written, and no credit cards. Accordingly, his income and cash flow appeared low for support purposes. Through a forensic tracing analysis, it was discovered that he used his HELOC…

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