Today’s top news headlines feature advice on how to use payroll tax deduction and reduce monthly mortgage payments. Plus, find out why bankruptcy filings were so high in 2010.

Itemizers Must Wait to File Taxes CNN Money The Internal Revenue Service announced taxpayers who plan to itemize their deductions must wait until mid- to late-February while the agency updates its systems to reflect the new tax laws. The delay will not affect all taxpayers, but solely those who plan to itemize deductions, which may relate to tax breaks for state and local taxes, education, medical and dental expenses and charitable contributions.

Recasting May Help Homeowners Save The New York Times Homeowners unable to refinance their mortgages are being urged to explore other options, such as recasting, to save money. R

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Mimi Ash and her husband Robert loved taking weekend getaways to their mountain home in Truckee, Calif., to ski and relax. After Robert was stabbed to death in a road rage incident in 2005, Mimi brought his cremated remains to the ski house above Lake Tahoe in a wooden box with the words “Together Forever” inscribed on the lid.

But when Ash returned to the house in January 2009 for a weekend getaway, she found her husband’s remains gone, along with everything else in the house – family photos, furniture, her son’s ski medals.

The burglar was Bank of America. According to a lawsuit filed by Ash, a series of screw-ups by the bank forced her into foreclosure. As she negotiated to keep the house, the bank promised not to foreclose until her loan modification was decided.

Instead, Bank of America sent contractors to the house. They threw all its contents in the trash, including her husband’s cremated remains. And they ch

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Vittorio Hernandez – AHN News

Ottawa, Ontario, Canada (AHN) – The Supreme Court of Canada allowed Thursday the filing of a class-action lawsuit by veterans over their military pension. The action reverses an earlier decision by the Federal Court of Appeal, which was initially certified by the Federal Court.

The case stems from a suit filed by military mechanic Dennis Manuge on behalf of 6,500 injured veterans. Manuge was hurt in 2002 while assigned at the Canadian Forces Base Petawawa. When he left the military, Ottawa took back $10,000 of Manuge’s disability pension, which prompted the ex-mechanic to file the suit.

Manuge got Federal Court okay for a class action, but Ottawa appealed and secured a stay. The Court of Appeal turned down Manuge’s class-action lawsuit, ruling he should have applied for a judicial review of his case.

The basis of the Supreme Court action was a $250 million lawsuit filed by TeleZone Inc. against Industry Canada. The fir

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Debit cards are the plastic du jour this holiday season. According to the National Retail Federation, 43% of consumers will use debit cards for holiday spending, up from 30% in 2005. As for credit cards, fewer than a third of consumers will place their purchases on credit cards – the lowest level since 2002.

While debit cards–which store actual cash– can keep you on a tighter budget, you need to be careful of a few potential setbacks when you shop and travel this holiday season. Here are some tips:

1. Travelers: Beware of Card Freezes

When booking reservations at hotels and car rental agencies, companies may pre-charge your debit card with the estimated amount of your final bill. This may put a “freeze” on your account until the payment actually gets resolved, which may take up to three days. In the me

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The Media Line Staff

United Arab Emirates (TML) – Emaar Properties PJSC, the sprawling Dubai real estate developer, had a near-death experience this past week when its chairman made remarks hinting that it might increase its stake in its troubled Amlak Finance unit, a move that would saddle Emaar’s balance sheet with huge debt.

Emaar quickly denied any move was afoot to boost its holding in Amlak, telling the Dubai Finance Market that it had considered converting part of the debt to equity but was now weighing “other better and viable options.” Emaar’s shares ended a decline of nearly two weeks on Sunday to close 0.6% higher at 3.57 dirhams ($0.97)

Emaar, whose projects include the El-Burj tower, the world’s tallest skyscraper, isn’t yet out of the hole. The debt at Amlak, in which it has a 48% interest, remains unresolved, and its MFG joint venture in India continues to weigh on Emaar’s cashflow. Emaar itself fa

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According to R3`s quarterly personal debt tracker, more than 4 million (an estimated 4,258,737) people fear they`ll be made redundant.

The insolvency trade body found that those aged between 25 and 34 are the most worried about their job, with 16% `expressing a concern`.

Since the third quarter of the year, the number of individuals `experiencing each sign of financial distress`, has increased – with a 60% rise in the number of people falling behind with some of their bills and payments.

Over one in four people admit to saving less than usual – 3% higher than in Q3 2010. More than three million people have taken on debt during the last quarter.

Steven Law, R3 President, said: “These figures make grim reading. The number of people who have admitted to struggling has rocketed over the last three months, but this is just the tip of the iceberg. Full article…