Expert answering your Bankruptcy Question
Question by Big Bear : Chapter 13 disposable income vs repayment plan and secured/unsecured debt? Question about info/rules on disposable (dis.) income and how it applies to Chapter 13. I completed Form 22C to see what an estimate of dis. income would be and calculated ~ $ 1300 (after taking gross monthly income and subtracting allowable deductions). First question, is this ($ 1300) the repayment plan or is a part of the repayment plan? Second question is how does this work w/ secure vs unsecured debt. Is secured debt considered (A) a part of dis. income or (B) in addition to the dis. income. For instance, if (A) it would seem that if you have 2 car notes (calculated for the value divided by 60 on Form 22C line 47) for $ 400 or $ 1000, it would not affect the monthly Ch. 13 repayment…only means that the unsecured creditors would get less…so, no benefit to having 2 low car payments since monthly repay doesn’t change. If B) implies that unsecured creditors get all $ 1300 and the monthly repayment would increase by either $ 400 or $ 1000, the amount of the 2 car payments. Which is correct?
Answer by Joe the Expert
If you are going to file bankruptcy: Push for Chapter 7.
Find a Lawyer who can guarantee you Chapter 7 treatment.
Chapter 13 has all the downside of Chapter 7 with NONE of the benefits a Fresh Start.
In Chapter 13 you will be a SLAVE to your creditors for years.
If you can’t get Chapter 7 treatment find another way out this situation!
With a Good Lawyer most people who truly are in trouble can get Chapter 7.
Oh and you can thank your Congressmen and Senators for being in Bed with the Banks and Credit Card Companies for this situation.
Credit Card Companies have NOW Become LEGALIZED LOAN SHARKS!
Everyone should write your Congressmen and Senators to STOP THIS ABUSE and END this LEGALIZED LOAN SHARK Game! You will all be affected by this at some point over your lifetime.
I have seen several people go through this game and I have experienced some of this myself. Now articles are being written on it.
Your Credit Card Interest Rates should never Increase because you were 1 day late or ever a couple of hours late (In my case/ I pay through the internet) on your payment and this happens if you do it Only ONE TIME. Yet this is what the LEGALIZED LOAN SHARKS are doing!
They are even changing the time period between the day you receive your bill to the day its due. They are shortening it by 1 day per billing cycle. They are hoping that you don’t realize the change and that you will be late on a payment so they can Raise you up to the default interest rates and Steal your Money. This is what the Legalized LOAN SHARKS are doing!
All with the blessing of the U.S. Congress!
There’s a new, completely legal game they’re playing, and it can literally wipe you out financially if you’re not careful.
The Universal Default Clause
If you own a credit card, you know by now that if you’re late with a payment the credit card company will charge you a late fee in addition to raising your interest rate. But did you know that they can raise your interest rate if you’ve made a late payment on any of your other cards, including those issued by other companies?
Not only that, but your interest rates can skyrocket to 30 percent or more if you make a late payment on your car loan, mortgage, or even your phone bill!
“How can that be legal?” you may ask. The answer is found in the fine print of your credit card agreement, and it’s called a universal default clause. According to the Institute of Consumer Financial Education, currently almost 40 percent of credit card issuers apply this policy to their customers.
A Late Payment ‘Trigger’
Generally, a universal default clause states that a creditor reserves the right to penalize you with an increased interest rate if you’re late — that is, in default — of a payment to any other creditor. They justify this practice because, in theory, if you pay any of your creditors late, you pose a greater credit risk and are less likely to pay your debt.
Your creditors also have the right to routinely monitor your credit file. So a creditor with a universal default clause will be watching — and waiting.
Let’s say your Visa card has a universal default clause. Any late payment — whether it’s on your utility bill, home equity loan, or Macy’s credit card — acts as a “default trigger” allowing the bank that issued the Visa card to double or even triple your interest rate overnight. Your all-important credit score will be hurt as well.
According to a study by the nonprofit advocacy and education group Consumer Action, the top three default triggers that cause your interest rates to spike are a decline in credit score, paying your mortgage late, and paying your car loan late.
Other Triggers to Worry About
Under the universal default clause, your interest rates can be increased for several other reasons, including exceeding your credit limit, bouncing a check, having too much debt, having too much credit, getting a new credit card, applying for a car loan, and applying for a mortgage loan.
How does this affect your financial future? Take a look at the numbers. Let’s say you’re an average American household, with $ 8,000 of credit card debt. Assuming you make no additional purchases on your card, you have a 9 percent interest rate, and you make the minimum monthly payment, it’ll take you 218 months (18 years) to pay off your debt and you’ll end up paying $ 3,334 in interest.
Now let’s assume that for whatever reason you were late one month with your car payment. This late payment triggers the universal default clause with your credit card issuer, and now your penalty rate gets increased to 24 percent (the average default rate in 2005). It’ll now take you 679 months (56 years) to pay off your credit card debt, and get this — you’ll pay $ 30,813 in interest. Link to this full story: http://finance.yahoo.com/expert/article/millionaire/26303
for more questions visit this website please
This is all true people WAKE UP and FIGHT BACK!
Helpful Advice That Will Help With Car Insurance
If you are looking for all of the basics regarding auto insurance plus some other tips that you might not have heard of, this article is for you. This can be a confusing subject with all of the different opinions and information that is available – especially when a lot of it is contradictory.
When insuring a teenage driver, save money on your car insurance by designating only one of your family’s vehicles as the car your son or daughter will drive. This will save you from paying the increase for all of your vehicles, and the cost of your car insurance will rise only by a small amount.
When considering insurance for a young driver, be sure to calculate the expected mileage per year. Many insurance providers will provide a discount for low mileage customers. Most likely, a high school age driver will qualify, even if they drive to school and work. Be sure to check with multiple agencies to compare rates.
When dealing with car insurance a person needs to understand that who they are will affect their premiums. Insurance companies will look at things such as how old you are, if your male or female, and what kind of driving record that you have. If your a male that is 25 or younger you are going to have the higher insurance rates.
When you are dealing with car insurance you should always try to find ways to reduce your premium so that you can always get the best price. A lot of insurance companies will lower your rate if you are someone that drives less the 7500 miles in a year. If you can, try taking public transportation to work or even car pooling.
To save money on car insurance, consider raising your deductible. You’ll need to be able to pay for some repairs out of pocket, but if you’re comfortable doing so, you can see significant savings by raising your deductible from $250 to $500, and even more if you go to a $1000 deductible.
An important consideration in securing affordable auto insurance is the condition of your credit record. It is quite common for insurers to review the credit reports of applicants in order to determine policy price and availability. Therefore, always make certain your credit report is accurate and as clean as possible before shopping for insurance.
While finding the company that offers the lowest annual premium for your car insurance is important, this is only one of the many factors that you should consider when comparing car insurance quotes. The deductibles offered by a policy, the level of coverage it provides and its benefit limits all need to be weighed, along with overall cost.
As stated at the beginning, there is quite a bit of information in regards to auto insurance. Hopefully you will find these tips beneficial. You should now find yourself ahead of the game if you are working to become an expert, or just trying to get a bit of background information.
For Home Insurance information click here:
Gas Water Heater Systems for the Home
Hot Water is an essential aspect in many domestic activities. A testament to this is the fact that it usually accounts for the largest energy consumption in households. Therefore, it is important to have an efficient gas water heater to enjoy energy savings and have the hot water your household needs all day long.
The American Council for an Energy-Efficient Economy considers gas-fired water heating systems as the most efficient among all water heaters. This group discourages consumers to use electric models as the latter generally comes out as the more expensive alternative in heating water. This is true despite the fact that these models have high energy factor ratings. The group also pointed out that using electricity will not be beneficial to the environment since its cleanliness and efficiency greatly depends on the fuel used to generate it.
There are various types of water heaters available in the market today. The most common of which are the storage type water heaters. In the United States, storage water heaters that run on natural gas are the most widely used. These devices heat water and store them in a tank for storage. Unlike the tankless water heaters, these are expected to last for a very long time with very little maintenance. Also, gas-operated water heaters have been proven to be twice faster than electric water heaters in increasing water temperature.
Typically, these heaters are tanks that stand vertically on a platform or a raised floor. The two most important elements of these are the inner tank and the type of heating element. Experts say that heaters with copper tanks are the best in the market. Insulation of these tanks are also crucial as the better the insulation, the lesser standby heat is lost. Standby heat loss is defined as the heat lost while water is being contained in the tank. To remedy this, insulating jackets and blankets are recommended.
A gas water heater is an essential appliance in domestic households. Therefore, great care should be exerted when using them. Moreover, regular maintenance should be undertaken to increase their efficiency. For people who are still in the process of selecting what type of water heater they should use, extensive research should be conducted. This way, they will be sure that they will be getting the value out of every cent that they will be spending. In addition, they should also assess the scope or the extent of their domestic water heating needs so that they would be able to choose the water heater type that is most suited to them. Find more information about Water Heater Services and Installation here
Whiplash Injury Claims
Whiplash is an injury often caused by traffic accidents, wherein the head and shoulders suddenly jerk forward, causing your spine stretch. This may inflict extreme pain, and is a genuine affliction, though lots of individuals have been known to fake it in order win ridiculous lawsuits.
Like any injuries, there exist methods to cure it, an ice pack will be required to cut down inflammation, and the individual will need to rest for approximately one day, so it is not really a deadly injury, but that does not by any means, mean that it should be taken lightly. No, it in fact needs to be considered seriously, because if we brush aside the smallest of injuries, the larger ones could be next. You also need to realize that this condition, while not life threatening tends to make an individual immobile for long periods of time, thereby making it unthinkable for that person to go to work. That means that they lose money, and therefore their lives are negatively affected. Of course there is worker’s compensation, however that might not pay enough to keep up your everyday life. So as you can see, it should not to be taken for granted.
Annually, 120,000 people are adversely affected by whiplash, and not only in car accidents, it can be a boating accident, climbing, or even a para sailing incident. What these accidents all have in common, is that they have been inflicted by a person, or or a thing. Some people will say that whiplash is nothing to be concerned over, however an injury that may cause someone to miss work for weeks at a time, and could possibly destroy the spinal column, is certainly something to be worried about!
You need to seek compensation for these injuries, and you must be diligent. You can’t allow others tell you to just allow the claim go quietly into the night, you need to peruse it, and you have to make sure you get every cent that is coming to you, that includes the money that you failed to collect by being out of work for so long.
You may haggle this out with the insurance companies, or even inside court, trying to tell the judge that you are afflicted with whiplash, however the ideal way to go about doing it, is by hiring an attorney. A lawyer that specializes in whiplash injury claims will serve you well, since he or she has had massive experience in this area. Even though it seems trivial, the attorney will obtain the maximum amount of compensation for you in this injury claim.
Horror movie as a genre has always been there or as long as cinema has been around. While this genre has an enormous stigma attached to it as cheap and lowbrow, still there are some diehard fans of these movies. Here are two best all-time great horror movies.
The Shining: This movie produced and directed by Stanley Kubrick and is based on the novel going by the same name. The film is about the character Jack Torrance; an alcoholic who takes the job offer as a caretaker of the Overlook Hotel in the Colorado Rockies. His wife Wendy and son Danny have the ‘shining’ which is a physic ability to see the past. The hotel has a cook and he also has the same ability as Danny. Jack loses his senses due to the supernatural forces that are in that hotel and endangers his family.
The Exorcist: This movie is about Regan MacNeil who at the age of 12 starts acting strange and terrified. Her mother does everything that she can to cure her son. It ranges from religion, superstition to even science and also goes to the priest Damien Karras to send the demon out of her house. This movie was nerve-wracking and haunting with fantastic performances by its characters.
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Another California school is in the midst of a shooting episode. Of Late, there have been many instances where disgruntled shooters have targeted schools and schoolchildren. A shooter killed four people and injured at least one child in an elementary school in California on Tuesday. The gunman shot at many locations and randomly chose his victims as per the police.
The police have not yet given out the name and other details of the killer, but said that he was killed by police after he went on a shooting spree at many locations in the hinterland of Northern California, and included an elementary school in Tehama. The gunman did not have anyone in particular but shot at randomly targeting people as per Phil Johnston the assistant Sheriff.
The Associated Press also said that seven people were being treated which includes three children in two separate hospitals. It was also reported that one of his victims was a student who got away with injuries, while the other two, one child and a woman were hit while they are driving.
Police at Rancho, Tehama which is about three hours away from north San Francisco got calls for multiple shots fired around 8 am, and the call also mentioned that there were many shots and many victims at the school.
Sheriff Johnston said that they are investigating five crime scenes and also added that the school had been cleared and the children are safe. This shooting has happened on the same day where the family of the Sandy Hook elementary school is in court for a case against the rifle companies which are selling the A-15 type of rifles. This is the same weapon that killed 20 school children and 6 adults in Newtown Connecticut in December 2012.
Another incident where a gunman killed 25 people at a church in Texas happened in less than a couple of weeks of this California incident.
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The year before the recession of 2007 saw the birth of as many as 558000 companies. But only about 414000 companies were formed in 2015 as per the Census Bureau, which was a little over the year before. Though the rate of unemployment is on the decline and the stock markets are up, the economy is still not expanding and so is the productivity and the wage rise. The economists believe it is due to the slump in start-ups which essentially means there is less creation of new businesses.
It is critical to understand the reason behind the slump, and it could be due to the power of the big corporations. The economists argue that these big corporations can kick out the challengers or acquire them before they can be a force to reckon. So if you are wondering why bother about the stifling entrepreneurship, experts say that this kind of slump has a lot of implications. The small companies and start-ups are the ones that offer dynamism to the economy. These companies can generate, create job, innovations and is a ladder for success to middle class and immigrants. The most significant contribution of startups is that it makes the economy more productive. They have the talent to invent new approaches, innovations, and products that challenge the big companies to compete or be ignored by the customers. Startups have created jobs and also promote entrepreneurship.
Though the slump is observed for more than 30 years, the recent trends are what have worried economists. In the 90’s the slowdown was only in specific sectors like the retail, and that was not a drag on the economy or productivity. But since 2000, the deceleration is noticed in the technology sector, and this is coupled with low productivity. Research conducted suggests that the entrepreneurship decline and reduction in business dynamism is a primary reason for stagnation in productivity.
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Britain voted to ditch the EU, and their currency fell by 13% of its value against the euro. That means the cost of Europe vacations for Britons will be higher than usual, so will be the foods like meat, cheese, wine, etc. which is exported from other parts of Europe. Not to mention gas which has become expensive.
The Britons have not taken the inflation lightly and have started to show more support to the Labour party in the parliamentary elections. The economy currently due to Brexit is weak, the prices are high, but the wages have not gone up. Mr. Stampton, who is a resident of London voted for a party which advocated for Brexit but is a traditional voter for Conservatives. The pound value has made him resort to check out the parks of South London instead of sun-kissed beaches in Greece for a yearly summer vacation.
The economy has not grown a great deal compared to the previous quarter last year. It has only seen a 2% growth in this quarter. Majority of the economic activity in Britain is made up of consumer spending, so when the ordinary people are in trouble, they spend less and hence becomes decisive for the economy. The average worker has to wade through the high prices of daily consumer goods coupled with no increase in wages. Some economists are expecting the country to fall into a recession as they expect the economy to grow by 1.5 to 1,7 percent annually over the next couple of years.
Research reveals that the credit card balances are 10% higher than compared to the same time last year. That according to the Bank Of England is the fastest growth in a decade, and this is a cause for concern. Consumers will soon exhaust all sources of money as the paychecks are deflated due to inflation. Borrowing is growing faster than real incomes, and that means the consumers will not be able to keep the economy going with the wages, not in pace with inflation.
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Colleges and Universities as part of the recruitment process send their representatives to other countries to meet and explain about the opportunities they offer to prospective students at education fairs. These events also give the students a chance to know more about the education system in general and also about the institutes they are interested in applying.
Students should be prepared by making a list of queries they want to be answered before coming to the Education or a college fair. They should take the help of family and friends to ask for inputs while creating that list. Below are a few questions students should consider checking out at the fair. This list can help students get started.
Academics: Students should fill in the subject of their choice while listing
● The opportunities that I will have if I major in (X)at your college.
● Difference between your program and the other similar programs offered in other colleges?
● Can I change my major?
● Can I take a break for a semester to come back home and resume my studies.?
● The total expenditure for each year to attend your college.
● Other fees and costs apart for tuition fee.
● Is there any scholarship for international students, if so what is it?
● Deadline for admission and scholarship
● Percentage of scholarship
● How many international students get financial aid and what is the average amount.?
● Examples of internships the students of your college have for majoring in (X)
● Can someone help me find an internship?
● Please explain how your program will help in achieving my career aspirations.
● What placement opportunities are available at your school for international students.?
● How will the VISA process be. ?
Students should seek out representatives from various college and universities and ask for an introduction if they are not familiar with it. A student should not be hesitant to say that I have not heard of you, please tell me more. The executives will be happy to tell you.
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England Schools are expected to save £3bn as per the National Association of Headteachers. That they say can be a significant threat to the education systems stability. Ministers say that the school funds are protected, but Russell Hobby who is the General Secretary of that association begs to differ. Though the Education Department said that the funding is at a high, the Institute of Fiscal studies is the belief that there is more than what meets the eye. There are cost pressures that are impacting the funding. As per the research that they have published recently, they need an extra £2bn between 2017 and 2022 to maintain the schools at the current level.
Reality check: The education department wants the school to make savings close to £1.7bn, so when the government claims that the funding is at a record high, it does not tell the complete story. The department does not account the impact on the per-student fund as well as other cost pressures as per the director of Education at IFS, Luke Sibieta.
The general secretary of the National Association of Headteachers spoke from the annual conference in Telford and said that there are many organizations that are facing this cost pressure and affecting the effective management of schools, but the government is still singing the same tune of schools getting high funding. The schools have to manage the additional expenses of Insurance and contributions to pension coupled with rising costs which is creating a lot of cash crunch. The association is continually highlighting the situation along with teacher unions about the financial issues schools are facing. The government meanwhile refuses to admit it, and hence the schools in the UK are at risk.
The National Audit has estimated that schools have to pay £3bn as payout between 2015 to 2020. With such numbers being projected, more than 70% of the schools said there would be a cash crunch in 2019 to 2020, and More than 18% said that they were already short of cash.