NEW YORK (CNNMoney.com) -- My neighbor is planning on installing an above-ground swimming pool. If, for some reason, there is a pool failure, and my house suffers water damage, will my homeowners insurance policy cover it or do I need flood insurance? -- Olivia

First off, you don't need flood insurance. If your home is damaged, your homeowners policy should cover you. After all, that's what it's there for.

If your home was really damaged and you're looking for a big dollar payout, your neighbor's liability insurance should come into play.

The pool installer's liability insurance may also play a role if the pool was installed recently...say, within a year. But keep in mind, liability cases can take years to settle.

And for all those homeowners out there who have pools - if you haven't done it yet, make sure you get extra liability insurance. Not only do you have to cover malfunctioning pools - but there's increased potential for injury when you have the neighborhood kids over for a swim.

I am considering (strongly) declaring personal bankruptcy. Can you tell me what I should take into account before I finalize that decision? What do I stand to gain vs. what do I stand to lose? - Scott, Phoenix

Bankruptcy is the single most devastating blemish on your credit score, according to Craig Watts of Fair Isaac. If you have an average credit score, it could drop over 150 points if you declare bankruptcy.

If you have a very good credit score, say above 750, your score could drop almost 300 points. It stays on your credit report for a decade, long after other bad credit information has rotated off your credit report.

In addition, bankruptcy leads to a rise in your insurance rates and the interest rates on any loans you take out.

Employers and landlords generally get credit checks to evaluate applications. And there are debts that even bankruptcy can't wipe out, like child-support, alimony and student loans.

If you qualify for Chapter 7 bankruptcy, your debts will be wiped out. If you qualify for Chapter 13, you'll be put on a payment schedule that will require you to pay back your debts. And a revision of the bankruptcy law passed by Congress last year makes it much harder to qualify for personal bankruptcy.

How does one go about initiating a credit freeze? - Patricia

You can only get a credit freeze if you live in one of the 23 states that offer it. A security freeze locks, or freezes, access to your consumer credit report and credit score..locking everyone (including ID thieves) out of your report.

States where this is an option include California, Louisiana, Nevada and Utah. Some states, like North Carolina, require that you are a victim of ID theft first. (And right now there's a bill in Congress that would make this a standard requirement.) Find out the law in your state at Consumersunion.org.

Requests for credit freezes need to be sent certified mail to your credit bureau like Equifax or Experian. There can also be fees of $10-$15 for freezing and thawing your credit.

We have three cats, and they all have fleas. Unfortunately, the fleas are now taking up residence in nearly every room. They hop up and bite us whenever we enter the rooms. What are the best ways of ridding our house of them? - Sophia

We are seeing more fleas this year. The experts tell us vacuuming is the way to go. The vibrations cause fleas to hatch out of their pupa and get sucked up along with mature fleas.

But make sure you vacuum 3-5 days a week, and throw the bag away every other day. Since fleas can remain inactive for 18 months, you might also consider hiring a professional pest control company, or a professional carpet cleaner.

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