A generation ago there were a thousand men to every opportunity...while today there are a thousand opportunities to every man. - Henry Ford
Maybe you're thinking about going back to finish your degree. Maybe you are wondering if it's even worth it to continue your studies or begin from scratch. Here are some things to know before you jump right into forking over the cash to pay for a classroom education.
When does it make sense to go to college?
Going to college is not necessary to exist on this planet. Education is absolutely wonderful and vital, and I think everyone who wants to go to college should. Just don't go thinking that a diploma will be your ticket to a successful life.
Don't get me wrong. I think education is extremely important. However, going into major debt in order to get a degree that you will never use is ridiculous. When I hire people for my company, I don't look only at the degrees they have. I look at desire, attitude, diligence, people skills, and other qualities. These are the things that will determine if they are successful, not necessarily a degree.
I think there are 2 reasons to pursue an education:
1. If a degree in your chosen field will open doors to career opportunities. The truth is that in many fields, a degree won't open doors. Consider whether all the costs balance against the financial rewards.
2. To improve your life quality through the pursuit of knowledge. If your reason is personal growth and to do what God has called you to, make sure you go slow and pay cash to avoid getting into trouble. Use wisdom for the sake of your family. Don't make your future hostage to student loans.
What are the 4 Nevers of college savings?
1. Never save for college using insurance.
2. Never save for college using savings bonds (only 5-6% growth)
3. Never save for college using zero-coupon bonds. (only 6-8% growth)
4. Never save for college using pre-paid college tuition. (only 7% inflation rate)
Don't Have A Clinched Fist
Former Prime Minister of Israel Golda Meir said, “You can’t shake hands with a clenched fist.”
The fist is the international sign of anger or of a closed spirit. The open hand is a gesture of invitation and acceptance. I often see the closed fist in the area of money: a fistful of dollars tightly held so that those precious dollars never get away. Some people think if they clutch those dollars tightly enough, never giving, they are on the path to wealth. The real world teaches that the opposite is true.
The idea of holding money with an open hand might seem to violate common sense. We feel that if we don’t hold on tightly to our money and our relationships, they will slip away. I’m not saying literally hold your money with an open hand – it represents our attitude toward money. When you give, you open yourself up. You allow the dollars to leave and the freedom to enter.
Giving works because it is in your personal blueprint to be a giver, and you unleash good things in your life that you will never see until you learn the art of unselfish giving. Giving lifts us out of ourselves; we take our eyes off our rights, our problems, and our stuff. The new view gives us renewed vision and hope. Giving is powerful.
You don’t have money to give. Go to your local homeless shelter and serve food. Then sit at the table and eat with the men and women you have served. Take your spouse and your kids with you; it will do the family good to reset their view of reality. Go to a nursing home and read to the elderly for an afternoon. Help someone change a tire. It is easy to find people with real problems when you simply look. When you give of yourself, you can’t help but be lifted up and energized to fight your own problems. Your own problems are easier to fight through when you realize how small they really are in comparison to what others face.
The happiest and most joyful people are those who give money and serve. It seems contrary to everything our culture screams at us, but look at the culture’s track record: suicide, bankruptcy, divorce, murder. We aren’t very happy. True joy comes from serving. Mentally, emotionally, financially and spiritually balanced people have learned the value of giving. Seek out some opportunities to give and serve throughout the year. You’ll be the better for it.
The fist is the international sign of anger or of a closed spirit. The open hand is a gesture of invitation and acceptance. I often see the closed fist in the area of money: a fistful of dollars tightly held so that those precious dollars never get away. Some people think if they clutch those dollars tightly enough, never giving, they are on the path to wealth. The real world teaches that the opposite is true.
The idea of holding money with an open hand might seem to violate common sense. We feel that if we don’t hold on tightly to our money and our relationships, they will slip away. I’m not saying literally hold your money with an open hand – it represents our attitude toward money. When you give, you open yourself up. You allow the dollars to leave and the freedom to enter.
Giving works because it is in your personal blueprint to be a giver, and you unleash good things in your life that you will never see until you learn the art of unselfish giving. Giving lifts us out of ourselves; we take our eyes off our rights, our problems, and our stuff. The new view gives us renewed vision and hope. Giving is powerful.
You don’t have money to give. Go to your local homeless shelter and serve food. Then sit at the table and eat with the men and women you have served. Take your spouse and your kids with you; it will do the family good to reset their view of reality. Go to a nursing home and read to the elderly for an afternoon. Help someone change a tire. It is easy to find people with real problems when you simply look. When you give of yourself, you can’t help but be lifted up and energized to fight your own problems. Your own problems are easier to fight through when you realize how small they really are in comparison to what others face.
The happiest and most joyful people are those who give money and serve. It seems contrary to everything our culture screams at us, but look at the culture’s track record: suicide, bankruptcy, divorce, murder. We aren’t very happy. True joy comes from serving. Mentally, emotionally, financially and spiritually balanced people have learned the value of giving. Seek out some opportunities to give and serve throughout the year. You’ll be the better for it.
Retirement Planning
As we live longer healthier lives retirement planning takes on a new meaning and is of vital importance if you are to enjoy a happy and healthy retirement. No longer need it be a time of inactivity engendered by a feeling of uselessness. Rather, many of today's senior citizens, enjoy active, productive and enjoyable lives.
It is the time when you can take up all those hobbies you never had time for, travel more, maybe move to an area you always wanted to live in but couldn't due to work restraints,spend more time with your family, enjoy your garden and just generally spend each day doing something you find pleasurable rather than having to go to work.
Of course it can be a wrench to leave your job and colleagues. A feeling of worthlessness can settle in as the sense of "being someone" is no longer there. However accept your retirement as the next and exciting part of your life and make the most of it.
This is were retirement planning comes in and the earlier in life you start this the better. All the pleasures of retirement can only be enjoyed if your income is sufficient to support you and your spouse. In addition it has to grow with inflation as people are living longer and longer and obviously what supports you at 60 or 65 will not be adequate at 80.
Retirement Planning- Pensions.
First and foremost you need to get a pension projection from both the state pension department and also any private pension scheme you maybe a part of. Take a look at the debts you have, including your mortgage, and see if it is possible to clear these before retiring.
Generally speaking it is not felt that the state benefit provides an adequate income for retiring and so it is important to look at private pension plans, the government are in fact encouraging people to build up their own pension funds with generous tax incentives.These make the growth on the value of a pension fund tax free and allow some of the fund to be drawn in the form of a tax free lump sum. In addition any payments made by you qualify for tax relief. The majority of pension plan types give tax relief at source which means that you only pay the net amount (e.g., a £100 contribution costs you £78).
Of course the earlier you start your process of retirement planning the better but even if you do not have a long time left to save for your retirement you should still consider retirement planning. Recently there have been many changes to the charging structures applied by the Pension Providers. This means that even if the period until your retirement is quite short you should still get a good overall return on the money you invest.
You can get a state pension forecast at www.thepensionservice.gov.uk/resourcecentre/e-services/home.asp
Retirement Planning-Your Health.
In order to enjoy a long and happy retirement your health is almost as important as your money. Take stock of your general physical condition and improve it were you can. Adopt a healthy lifestyle by eating nutritious, balanced meals and taking plenty of exercise. If you take your health seriously and look after yourself it will pay great dividends as you age.
In addition you may want to consider taking out some health insurance. Whilst the NHS is there to take care of us we all know that the reality can sometimes be very different, especially with regard to the time we may have to wait for treatment, so this in itself could be a good reason to take out a health insurance policy. In addition more and more people are retiring abroad and so may want the peace of mind of adequate private health insurance.
Another form of insurance you may wish to consider as part of your retirement planning is long term care insurance. We are all living longer and most of us look forward to long and active retirements. But with longer life expectancy comes the increased possibility that we will need help or care later in life. This help is often referred to as long term care. Many people think the government will pay for their long term care, and many get a shock that this is not the case. You may for instance be forced to sell your house in order to pay for it so an insurance policy to cover care costs could prove vital.
Retirement Planning-Moving House.
With the incredible rise in house prices that has taken place in recent years many people find themselves in possession of a very valuable asset, their home. As part of any sensible retirement plan consideration should be given to selling this asset and moving to a smaller and cheaper property, downsizing in current parlance, and thus releasing valuable equity that can be invested to top up your pension. Alternatively there are various equity release schemes which are worth looking into.
Retirement Planning-Inheritance Tax.
Again due to the substantial house price rises more and more people will find that their inheritors will be liable for inheritance tax. Careful planning can help to avoid a lot of this however and consideration needs to be given to transferring assets to your children whilst you are still alive.
In conclusion then it is never to soon to start planning for your retirement. The better off financially you are at that time of life and the healthier you are the more you are going to be able to enjoy it and make your retirement years some of the best years of your life.
It is the time when you can take up all those hobbies you never had time for, travel more, maybe move to an area you always wanted to live in but couldn't due to work restraints,spend more time with your family, enjoy your garden and just generally spend each day doing something you find pleasurable rather than having to go to work.
Of course it can be a wrench to leave your job and colleagues. A feeling of worthlessness can settle in as the sense of "being someone" is no longer there. However accept your retirement as the next and exciting part of your life and make the most of it.
This is were retirement planning comes in and the earlier in life you start this the better. All the pleasures of retirement can only be enjoyed if your income is sufficient to support you and your spouse. In addition it has to grow with inflation as people are living longer and longer and obviously what supports you at 60 or 65 will not be adequate at 80.
Retirement Planning- Pensions.
First and foremost you need to get a pension projection from both the state pension department and also any private pension scheme you maybe a part of. Take a look at the debts you have, including your mortgage, and see if it is possible to clear these before retiring.
Generally speaking it is not felt that the state benefit provides an adequate income for retiring and so it is important to look at private pension plans, the government are in fact encouraging people to build up their own pension funds with generous tax incentives.These make the growth on the value of a pension fund tax free and allow some of the fund to be drawn in the form of a tax free lump sum. In addition any payments made by you qualify for tax relief. The majority of pension plan types give tax relief at source which means that you only pay the net amount (e.g., a £100 contribution costs you £78).
Of course the earlier you start your process of retirement planning the better but even if you do not have a long time left to save for your retirement you should still consider retirement planning. Recently there have been many changes to the charging structures applied by the Pension Providers. This means that even if the period until your retirement is quite short you should still get a good overall return on the money you invest.
You can get a state pension forecast at www.thepensionservice.gov.uk/resourcecentre/e-services/home.asp
Retirement Planning-Your Health.
In order to enjoy a long and happy retirement your health is almost as important as your money. Take stock of your general physical condition and improve it were you can. Adopt a healthy lifestyle by eating nutritious, balanced meals and taking plenty of exercise. If you take your health seriously and look after yourself it will pay great dividends as you age.
In addition you may want to consider taking out some health insurance. Whilst the NHS is there to take care of us we all know that the reality can sometimes be very different, especially with regard to the time we may have to wait for treatment, so this in itself could be a good reason to take out a health insurance policy. In addition more and more people are retiring abroad and so may want the peace of mind of adequate private health insurance.
Another form of insurance you may wish to consider as part of your retirement planning is long term care insurance. We are all living longer and most of us look forward to long and active retirements. But with longer life expectancy comes the increased possibility that we will need help or care later in life. This help is often referred to as long term care. Many people think the government will pay for their long term care, and many get a shock that this is not the case. You may for instance be forced to sell your house in order to pay for it so an insurance policy to cover care costs could prove vital.
Retirement Planning-Moving House.
With the incredible rise in house prices that has taken place in recent years many people find themselves in possession of a very valuable asset, their home. As part of any sensible retirement plan consideration should be given to selling this asset and moving to a smaller and cheaper property, downsizing in current parlance, and thus releasing valuable equity that can be invested to top up your pension. Alternatively there are various equity release schemes which are worth looking into.
Retirement Planning-Inheritance Tax.
Again due to the substantial house price rises more and more people will find that their inheritors will be liable for inheritance tax. Careful planning can help to avoid a lot of this however and consideration needs to be given to transferring assets to your children whilst you are still alive.
In conclusion then it is never to soon to start planning for your retirement. The better off financially you are at that time of life and the healthier you are the more you are going to be able to enjoy it and make your retirement years some of the best years of your life.
How You Can Pay Yourself First
It’s the beginning of 2007, the beginning of a new year. It is also a time when you start to make resolutions or goals for a brand new year. I am sure among them you might have some that are related to wealth creation or accumulation. (If not, you better start thinking about that now).
One of the easiest and powerful way to accumulate wealth is to follow the “Pay Yourself First” rule, which was one of the teachings Rich Dad taught in Robert Kiyosaki’s “Rich Dad, Poor Dad”.
What does “Paying Yourself First” mean and how you can follow it? Basically, it means you simply set aside a certain amount of money each month that you will not touch (pay yourself), even before you pay your bills and expenses (pay others)!
Here’s a step by step guide which you can follow: 1. From the amount of money you make each month, you decide how many percent of your monthly salary or income you want to set aside. When you get your paycheck, the very first thing you do is to put this amount aside, hence the “pay yourself first”. The percent to set aside differs from individual to individual depending on each comfortable level and wealth target. Most people recommend 10% to 15% of the monthly income to set aside, but I suspect that you might need to go up to 20% or even 30% if you want to reach your financial success.
2. Decide what you want to do with this amount which has been set aside. Many will simply put the amount into their saving accounts. However, the idea of paying yourself first is to use it for your wealth building. You should be looking into investing them instead of just saving them. Saving alone will not help you to reach your financial success. Let the money earn you more money by investing it. Consult with your financial planner or advisor to decide the kind of investment portfolio that suits you.
I would recommend that you setup what is known as an automatic withdraw from your bank account to your investment institution for your investments. This is when money is automatically taken out of your savings or checking account each month and put into your investment. Generally, you have to select a certain day each month for when the transaction will occur, and it will happen every month on that day, just like paying your bills. In this way, it does not rely on your ability to set aside a certain amount each month. It relies on the computers who automatically invest your money for you. It is also easy once you realize how you don’t miss the money.
3. Next, you pay off your bills.
4. Live on whatever is left over from your paycheck. It does not however imply that you need to use up every single cents of what is left. If you have surplus, then good for you. If you have a substantial surplus, then go back and re-adjust your investment amount. Increase you monthly set-aside amount for investment, and let it generate more money for you.
5. And finally, NO CREDIT CARD DEBT! Don’t spend on credit. Also be very careful with home equity loans and car loans. It’s easy to get into trouble with both.
If you are disciplined, you can pay yourself first without running into a credit rut.
First, keep your personal expense low. Don’t go out and spend your money on “ego” toys like a new car, a new outfit or a long vacation. Not until the habit of paying yourself first has built up enough assests for you to afford them.
Second, when you come up short, don’t dip into your investment to pay off your creditors. Robert Kiyosaki believes that if you are under pressure from creditors, the pressure will actually inspire you to come up with new ways of making money. Look for other ways to tide over.
One of the easiest and powerful way to accumulate wealth is to follow the “Pay Yourself First” rule, which was one of the teachings Rich Dad taught in Robert Kiyosaki’s “Rich Dad, Poor Dad”.
What does “Paying Yourself First” mean and how you can follow it? Basically, it means you simply set aside a certain amount of money each month that you will not touch (pay yourself), even before you pay your bills and expenses (pay others)!
Here’s a step by step guide which you can follow: 1. From the amount of money you make each month, you decide how many percent of your monthly salary or income you want to set aside. When you get your paycheck, the very first thing you do is to put this amount aside, hence the “pay yourself first”. The percent to set aside differs from individual to individual depending on each comfortable level and wealth target. Most people recommend 10% to 15% of the monthly income to set aside, but I suspect that you might need to go up to 20% or even 30% if you want to reach your financial success.
2. Decide what you want to do with this amount which has been set aside. Many will simply put the amount into their saving accounts. However, the idea of paying yourself first is to use it for your wealth building. You should be looking into investing them instead of just saving them. Saving alone will not help you to reach your financial success. Let the money earn you more money by investing it. Consult with your financial planner or advisor to decide the kind of investment portfolio that suits you.
I would recommend that you setup what is known as an automatic withdraw from your bank account to your investment institution for your investments. This is when money is automatically taken out of your savings or checking account each month and put into your investment. Generally, you have to select a certain day each month for when the transaction will occur, and it will happen every month on that day, just like paying your bills. In this way, it does not rely on your ability to set aside a certain amount each month. It relies on the computers who automatically invest your money for you. It is also easy once you realize how you don’t miss the money.
3. Next, you pay off your bills.
4. Live on whatever is left over from your paycheck. It does not however imply that you need to use up every single cents of what is left. If you have surplus, then good for you. If you have a substantial surplus, then go back and re-adjust your investment amount. Increase you monthly set-aside amount for investment, and let it generate more money for you.
5. And finally, NO CREDIT CARD DEBT! Don’t spend on credit. Also be very careful with home equity loans and car loans. It’s easy to get into trouble with both.
If you are disciplined, you can pay yourself first without running into a credit rut.
First, keep your personal expense low. Don’t go out and spend your money on “ego” toys like a new car, a new outfit or a long vacation. Not until the habit of paying yourself first has built up enough assests for you to afford them.
Second, when you come up short, don’t dip into your investment to pay off your creditors. Robert Kiyosaki believes that if you are under pressure from creditors, the pressure will actually inspire you to come up with new ways of making money. Look for other ways to tide over.
How To Fight High Gasoline Prices
Are you scared that gas prices are going up but your income is not? Is the high gasoline price sucking too much money out of your pocket?
For people on a fixed income, it looks as if everything is going up except their pay check. In fact, the situation is so serious that some of them need to look for a new job closer to the home just to save on gas. This is true even though they love their job and don't want to change it.
You can find plenty of advice about surviving in the world of high gasoline prices. For example:
* Change your driving habits.
* Cut back on daily purchases in order to compensate for increased gasoline spending.
* Do not go out for lunch. Bring it with you to the office.
* Instead of eating out at a "fancy" sit down restaurants, go to fast food places to cover the difference between gas prices and food savings.
Basically, all these advisers are teaching how to adjust your spending habits to accommodate rising gas prices because there is nothing you can do about the rising cost of gasoline. But what if you don’t want to change your habits? What if you refuse to become a hostage to higher gasoline prices?
Well, I have a realistic solution. Instead of losing time on driving around looking for cheaper gasoline, spend your time and energy on learning about online earning opportunities. You can easily make between one hundred to three hundred dollars on the Internet monthly. This extra money could cover your gasoline expenses allowing you to forget about this problem for rest of your life!
There are hundreds of thousands people who make full time living from the Internet business and millions who choose the Internet as a part time job. Why not to begin your Internet business journey with a very clear goal to compensate your everyday gasoline expenses?
There are countless ways to make this kind of additional income through the Internet. Most of these methods are very simple to understand and quickly to learn even for beginners.
Being involving with an Internet business on a part time basis can earn you extra income straight from your home computer without giving up the things you and your family already enjoy.
For people on a fixed income, it looks as if everything is going up except their pay check. In fact, the situation is so serious that some of them need to look for a new job closer to the home just to save on gas. This is true even though they love their job and don't want to change it.
You can find plenty of advice about surviving in the world of high gasoline prices. For example:
* Change your driving habits.
* Cut back on daily purchases in order to compensate for increased gasoline spending.
* Do not go out for lunch. Bring it with you to the office.
* Instead of eating out at a "fancy" sit down restaurants, go to fast food places to cover the difference between gas prices and food savings.
Basically, all these advisers are teaching how to adjust your spending habits to accommodate rising gas prices because there is nothing you can do about the rising cost of gasoline. But what if you don’t want to change your habits? What if you refuse to become a hostage to higher gasoline prices?
Well, I have a realistic solution. Instead of losing time on driving around looking for cheaper gasoline, spend your time and energy on learning about online earning opportunities. You can easily make between one hundred to three hundred dollars on the Internet monthly. This extra money could cover your gasoline expenses allowing you to forget about this problem for rest of your life!
There are hundreds of thousands people who make full time living from the Internet business and millions who choose the Internet as a part time job. Why not to begin your Internet business journey with a very clear goal to compensate your everyday gasoline expenses?
There are countless ways to make this kind of additional income through the Internet. Most of these methods are very simple to understand and quickly to learn even for beginners.
Being involving with an Internet business on a part time basis can earn you extra income straight from your home computer without giving up the things you and your family already enjoy.
Judgements-Liens-and Other Legal Issues
In the field of debt collection and delinquencies, judgments and judgement risk factors are a very real concerns. Will a creditor sue and seek legal judgement against me? If he does, what type judgement might it be? What exactly is a judgement and what can I do about it? These are just some of the questions answered in this judgement article. But please note. The content of this article is for consumer knowledge of judgements and legal lawsuits only and it is assume the reader will act responsibly towards his/her debt.
RISK FACTORS
Collectors must abide by the their state's Statute of Limitations (SOL) for the amount of time to sue a debtor for payments. Therefore a consumer's first step is determine if the SOL for collecting a debt has past. If the SOL has not passed, the consumer must weigh the risk factor of a judgement against them when determining if they should pay a delinquent debt. A judgement could allow the creditor to garnish wages or hire an authority to come get your property. However, it is possible it may not be in the creditor's best interest to do so. Sometimes it is simply too much time and expense for a creditor to take action against you. But the possibility does exist. As stated at Credit Info Center: "The risks of judgments, garnishments, and property seizures must be properly balanced against the likelihood that such drastic collection measures will ever happen. The risk, and the decision to take that risk, are entirely yours if you're in such a position."
DEFINITIONS
JUDGEMENT - a decision issued by a court at the end of a lawsuit. If in the favor of the creditor it not only verifies the debt but can increase the debt by adding interest, court costs, collection fees, and attorney fees an may extend up to 20 years on a credit file. A decision in favor of the debtor makes the debt uncollectible and may include reimbursement of legal costs to the debtor.
JUDGEMENT PROOF - a debtor has little or no property that a creditor can legally take to collect in the foreseeable future.
PRE-JUDGEMENT ATTACHMENT - a legal procedure which lets an unsecured creditor tie up property before obtaining a court judgement.
DEFAULT JUDGEMENT - If a consumer is sued and does not file papers in response to the lawsuit in the prescribed time limit, the plaintiff can ask the court to enter a judgement against the debtor and is an automatic loss of the case. A default judgement can be set aside but this is unusual and circumstances must be notable to justify such a turn.
LIEN - a lien is a notice that a creditor has attached property. The consumer cannot sell the property without paying off the creditor because the lien makes the "title" cloudy.
SECURED DEBT Property that is purchased using the property itself as collateral on the loan is considered secured. Credit cards are considered unsecured but tax debt is considered secured.
What can a creditor do?
Creditors from secured debts may be able to obtain a judgement for repossessions. Mortgagors can depose and landlords can evict. Garnishment or taking of wages is an option of any creditor. The decision to sue a debtor is usually based on the amount owed (usually over $500), the cost of getting it back, and whether there is a reasonable expectation that something can be collected.
If the matter can be sorted out with the person making the claim before it goes to court, it will be cheaper. If you lose in court, you risk having to pay the other side’s costs. Even if you agree that you owe the money but don't agree on the amount, you can try to negotiate the matter before it goes to court. If you reach an agreement, you will need to submit an agreement as to judgement form in the court, which tells the court that there is no need to have the matter heard.
Some judgments can be fought by challenging their validity. For example default judgments at times can be reversed by claiming the debtor was never served or was ignorant of the facts. Before reversal, however, you must back up the claim with facts. Judgments which include selected stipulations can be reversed if the debtor can prove coercion or misrepresentation. Of course winning an appeal in a higher court can reverse a decision as well.
Payment of Judgments
Once a judgement has been issued, settlement may still be an option if the debtor and creditor can come to terms. This is often the case when dealing with a temporary judgement-proof debtor who will have assets freeing in the future. The creditor might want the debt cleared sooner and might be willing to settle.
Contrary to popular belief, a judgement can be removed from a credit file by the creditor. This requires a fair amount of work and therefore the creditor would have to be motivated to do so in some way.
RISK FACTORS
Collectors must abide by the their state's Statute of Limitations (SOL) for the amount of time to sue a debtor for payments. Therefore a consumer's first step is determine if the SOL for collecting a debt has past. If the SOL has not passed, the consumer must weigh the risk factor of a judgement against them when determining if they should pay a delinquent debt. A judgement could allow the creditor to garnish wages or hire an authority to come get your property. However, it is possible it may not be in the creditor's best interest to do so. Sometimes it is simply too much time and expense for a creditor to take action against you. But the possibility does exist. As stated at Credit Info Center: "The risks of judgments, garnishments, and property seizures must be properly balanced against the likelihood that such drastic collection measures will ever happen. The risk, and the decision to take that risk, are entirely yours if you're in such a position."
DEFINITIONS
JUDGEMENT - a decision issued by a court at the end of a lawsuit. If in the favor of the creditor it not only verifies the debt but can increase the debt by adding interest, court costs, collection fees, and attorney fees an may extend up to 20 years on a credit file. A decision in favor of the debtor makes the debt uncollectible and may include reimbursement of legal costs to the debtor.
JUDGEMENT PROOF - a debtor has little or no property that a creditor can legally take to collect in the foreseeable future.
PRE-JUDGEMENT ATTACHMENT - a legal procedure which lets an unsecured creditor tie up property before obtaining a court judgement.
DEFAULT JUDGEMENT - If a consumer is sued and does not file papers in response to the lawsuit in the prescribed time limit, the plaintiff can ask the court to enter a judgement against the debtor and is an automatic loss of the case. A default judgement can be set aside but this is unusual and circumstances must be notable to justify such a turn.
LIEN - a lien is a notice that a creditor has attached property. The consumer cannot sell the property without paying off the creditor because the lien makes the "title" cloudy.
SECURED DEBT Property that is purchased using the property itself as collateral on the loan is considered secured. Credit cards are considered unsecured but tax debt is considered secured.
What can a creditor do?
Creditors from secured debts may be able to obtain a judgement for repossessions. Mortgagors can depose and landlords can evict. Garnishment or taking of wages is an option of any creditor. The decision to sue a debtor is usually based on the amount owed (usually over $500), the cost of getting it back, and whether there is a reasonable expectation that something can be collected.
If the matter can be sorted out with the person making the claim before it goes to court, it will be cheaper. If you lose in court, you risk having to pay the other side’s costs. Even if you agree that you owe the money but don't agree on the amount, you can try to negotiate the matter before it goes to court. If you reach an agreement, you will need to submit an agreement as to judgement form in the court, which tells the court that there is no need to have the matter heard.
Some judgments can be fought by challenging their validity. For example default judgments at times can be reversed by claiming the debtor was never served or was ignorant of the facts. Before reversal, however, you must back up the claim with facts. Judgments which include selected stipulations can be reversed if the debtor can prove coercion or misrepresentation. Of course winning an appeal in a higher court can reverse a decision as well.
Payment of Judgments
Once a judgement has been issued, settlement may still be an option if the debtor and creditor can come to terms. This is often the case when dealing with a temporary judgement-proof debtor who will have assets freeing in the future. The creditor might want the debt cleared sooner and might be willing to settle.
Contrary to popular belief, a judgement can be removed from a credit file by the creditor. This requires a fair amount of work and therefore the creditor would have to be motivated to do so in some way.
Get Paid for Answering Survey Online
Getting paid for answering surveys online is an easy way to make some extra money. Surveys are a great way to earn extra money while you sit at home in front of your own computer. Many people take the money from their survey pay day and use it as a part-time income. It is possible to take surveys and make a pretty decent living.
Paid surveys have been around forever. We have all heard the statistics in the news and in newspapers. The newscaster will quote, "a study...". That study was likely conducted through a paid survey. There are a variety of ways to take paid surveys, but online is the most convenient. Other paid surveys often occur at shopping centers or malls at various times during the year.
The pay for an online survey can range drastically from $10 to $100, depending on the company you are taking the survey for. It is important to look at all the details of the questionnaire before you begin taking it. All reputable survey companies will explicitly state the terms under which you will get paid. If the terms of the survey have not been shared with you, the survey may not be legitimate or you may not get paid to take the survey.
Once you develop a system for taking online surveys, it will be easier to begin earning money. After you have completed a cash paid survey and any other requirements of the survey company, your pay is often transferred into an easily used online payment system like PayPal. Many people use these types of systems to transfer money while conducting business on the Internet.
Through an online payment system, you can access your pay easily and conveniently. It is a secure way to get paid for your survey taking. You can also elect to receive a check for the surveys you take. Checks are a little more inconvenient because you have to wait for them to come in the mail. But for people who are not comfortable using an online payment system, checks offer a way to participate in the paid survey market.
Taking surveys online and getting paid for your opinion is a great way to make extra cash. Many different market research companies use paid online surveys to help them make decisions about their product lines, marketing, and other consumer decisions.
If you can devote a couple of hours per day to online surveys, then it is possible to make a pretty decent income from them. For others who just want to do an occasional survey, you can earn some decent spare cash for just sharing your opinions.
Paid surveys have been around forever. We have all heard the statistics in the news and in newspapers. The newscaster will quote, "a study...". That study was likely conducted through a paid survey. There are a variety of ways to take paid surveys, but online is the most convenient. Other paid surveys often occur at shopping centers or malls at various times during the year.
The pay for an online survey can range drastically from $10 to $100, depending on the company you are taking the survey for. It is important to look at all the details of the questionnaire before you begin taking it. All reputable survey companies will explicitly state the terms under which you will get paid. If the terms of the survey have not been shared with you, the survey may not be legitimate or you may not get paid to take the survey.
Once you develop a system for taking online surveys, it will be easier to begin earning money. After you have completed a cash paid survey and any other requirements of the survey company, your pay is often transferred into an easily used online payment system like PayPal. Many people use these types of systems to transfer money while conducting business on the Internet.
Through an online payment system, you can access your pay easily and conveniently. It is a secure way to get paid for your survey taking. You can also elect to receive a check for the surveys you take. Checks are a little more inconvenient because you have to wait for them to come in the mail. But for people who are not comfortable using an online payment system, checks offer a way to participate in the paid survey market.
Taking surveys online and getting paid for your opinion is a great way to make extra cash. Many different market research companies use paid online surveys to help them make decisions about their product lines, marketing, and other consumer decisions.
If you can devote a couple of hours per day to online surveys, then it is possible to make a pretty decent income from them. For others who just want to do an occasional survey, you can earn some decent spare cash for just sharing your opinions.
What is a Credit Report?
For most people having good credit is a necessary part of their financial well being. Your credit history has a large impact on the ability to receive a mortgage, car loan and credit cards. Most of time your credit rating is based and formulated using information that is found on your credit report. If you are new to having credit or finally realized how important credit can be, here is some information on what a credit report is and its importance in the credit process.
A credit report is a document that is used to summarize your financial reliability. Usually credit reports compile information that includes current loans and credit cards you have, your payment history, your outstanding debt and other personal information such as your current and previous address, full name, aliases, and companies or lenders that recently requested your credit report.
Credit reports are a very useful tool for companies and lenders to determine if a person they are either loaning money to or can be providing a job or an apartment for is reliable and stable with their finances. For instance, if you would like to apply for a credit card, when filling out the application, you sign a waiver giving the credit card permission to pull your credit report and analyze it. From this point the credit card company will look at your credit report to see if you have lots of other credit cards, the debt that you owe on those credit cards and if in the past were you late paying the monthly bills for the credit cards.
Credit reports are instruments used by lenders and other entities to protect themselves against risk. While a credit report with lots of negative info can be bad for the person that is applying for a loan or apartment, credit reports are in most cases very helpful for consumers that keep up on their payments and are financially responsible. These consumers are able to acquire import loans such as mortgages and business loans that can help them reach their life goals. Because credit reports are so important to the process of acquiring loans and a big factor in renting an apartment or applying for a job, it is extremely important that consumers know as much as possible on how credit reports are used, how they are scored and strategies on how your credit report can show you as being financially responsible.
A credit report is a document that is used to summarize your financial reliability. Usually credit reports compile information that includes current loans and credit cards you have, your payment history, your outstanding debt and other personal information such as your current and previous address, full name, aliases, and companies or lenders that recently requested your credit report.
Credit reports are a very useful tool for companies and lenders to determine if a person they are either loaning money to or can be providing a job or an apartment for is reliable and stable with their finances. For instance, if you would like to apply for a credit card, when filling out the application, you sign a waiver giving the credit card permission to pull your credit report and analyze it. From this point the credit card company will look at your credit report to see if you have lots of other credit cards, the debt that you owe on those credit cards and if in the past were you late paying the monthly bills for the credit cards.
Credit reports are instruments used by lenders and other entities to protect themselves against risk. While a credit report with lots of negative info can be bad for the person that is applying for a loan or apartment, credit reports are in most cases very helpful for consumers that keep up on their payments and are financially responsible. These consumers are able to acquire import loans such as mortgages and business loans that can help them reach their life goals. Because credit reports are so important to the process of acquiring loans and a big factor in renting an apartment or applying for a job, it is extremely important that consumers know as much as possible on how credit reports are used, how they are scored and strategies on how your credit report can show you as being financially responsible.
A Mathematical Look at How Gas Companies Rip Us Off
The fact that since the first of the year crude oil has slid over 16% while the national average price of gasoline has fallen only 5% really bothers me. So, on that note, I've decided to do a little bit of research and a whole lot of math in order to try and figure out what the heck is going on.
First off, let's assume that we're working under the premise that the price of crude oil makes up about half of the price of gasoline. After doing some research, this seems to be a pretty standard and accepted idea.
On January 1, the national average gas price was $2.33 per gallon while the price of a barrel of crude oil was at $61.25. In sticking with the theory that the price of oil makes up half of the cost of gasoline, the $61.25 per barrel equaled $1.165 worth of gasoline.
As of January 16, the price of oil had fallen to $51.21 - 16.4% lower than the price on January 1. According to the above theory, the price of oil on January 16 should now equal $.974 worth of gasoline:
(1 - .164) * $1.165 = $.974
Assuming the non-oil 50% of gasoline (taxes, additives, advertising, salaries, etc.) was a fixed cost - not that unreasonable - the new price of gasoline should be $2.14 per gallon, roughly 8.2% lower than it was on January 1:
$1.165 + $.974 = $2.139
Unfortunately, the national average price of gasoline on January 16 was $2.22 - only 4.7% lower than what it was on January 1.
This leads me to one of two conclusions:
1. The "fixed" costs actually increased by 6.9% as oil prices went down, or
2. The system is rigged so there is enough lag time built in for oil and gasoline companies to take advantage of the arbitrage.
First off, let's assume that we're working under the premise that the price of crude oil makes up about half of the price of gasoline. After doing some research, this seems to be a pretty standard and accepted idea.
On January 1, the national average gas price was $2.33 per gallon while the price of a barrel of crude oil was at $61.25. In sticking with the theory that the price of oil makes up half of the cost of gasoline, the $61.25 per barrel equaled $1.165 worth of gasoline.
As of January 16, the price of oil had fallen to $51.21 - 16.4% lower than the price on January 1. According to the above theory, the price of oil on January 16 should now equal $.974 worth of gasoline:
(1 - .164) * $1.165 = $.974
Assuming the non-oil 50% of gasoline (taxes, additives, advertising, salaries, etc.) was a fixed cost - not that unreasonable - the new price of gasoline should be $2.14 per gallon, roughly 8.2% lower than it was on January 1:
$1.165 + $.974 = $2.139
Unfortunately, the national average price of gasoline on January 16 was $2.22 - only 4.7% lower than what it was on January 1.
This leads me to one of two conclusions:
1. The "fixed" costs actually increased by 6.9% as oil prices went down, or
2. The system is rigged so there is enough lag time built in for oil and gasoline companies to take advantage of the arbitrage.
How Gas Credit Cards Work
Do you drive regularly? If you do, then you probably know how difficult it is to deal with the ever increasing price of gas. The fuel industry has become quite unstable because of the conflicts that often happen among major petroleum producing countries. Even the rumors of a possible conflict in the Middle East are enough to make the price of oil rise rapidly.
Many people became aware of the fragility of our energy infrastructure because of the problems with production and distribution capacity in recent years. This problem has also been highlighted by the natural disasters and malfunctions that are personnel and equipment based. Due to the instability of the fuel industry, people across the country have been forced to lessen the impact of the rising cost of fuel. They turn to gas credit cards, car pooling, use of public transportation and other similar techniques to save money on fuel.
You can also try some of these creative solutions to reduce the effect of high gas prices on your personal budget. Many people have turned to gas credit cards because they seem to be an enticing way to save money. However, you should first understand how gas credit cards work if you want to go by this route. You need to find out if you can really save money by using these credit cards.
If you are considering the idea of getting gas credit cards, then you should know that they usually charge much higher interest rates than standard credit cards. This means that you will to pay off all of the balances of your credit cards on time. You will not save money if the added finance charges are bigger than the savings that the credit cards offer.
You should also be aware that the issuers of gas credit cards may change the terms and conditions of your account at any time. It would be wise to read every piece of correspondence that you receive from your gas credit cards issuer. You can choose between negotiating special terms with the issuer and discontinuing the use of your credit card if the terms become problematic.
You can also get the gas credit cards that are offered by some oil companies. However, these credit cards offer gas credit cards only work at gas stations that use gas products supplied by that particular company. If you consistently buy gas from the same station, then you can benefit from these credit cards. However, these credit cards may not work for you if you travel a great deal. In this case, you have to make sure that your gas credit cards will work during your travels.
Many people became aware of the fragility of our energy infrastructure because of the problems with production and distribution capacity in recent years. This problem has also been highlighted by the natural disasters and malfunctions that are personnel and equipment based. Due to the instability of the fuel industry, people across the country have been forced to lessen the impact of the rising cost of fuel. They turn to gas credit cards, car pooling, use of public transportation and other similar techniques to save money on fuel.
You can also try some of these creative solutions to reduce the effect of high gas prices on your personal budget. Many people have turned to gas credit cards because they seem to be an enticing way to save money. However, you should first understand how gas credit cards work if you want to go by this route. You need to find out if you can really save money by using these credit cards.
If you are considering the idea of getting gas credit cards, then you should know that they usually charge much higher interest rates than standard credit cards. This means that you will to pay off all of the balances of your credit cards on time. You will not save money if the added finance charges are bigger than the savings that the credit cards offer.
You should also be aware that the issuers of gas credit cards may change the terms and conditions of your account at any time. It would be wise to read every piece of correspondence that you receive from your gas credit cards issuer. You can choose between negotiating special terms with the issuer and discontinuing the use of your credit card if the terms become problematic.
You can also get the gas credit cards that are offered by some oil companies. However, these credit cards offer gas credit cards only work at gas stations that use gas products supplied by that particular company. If you consistently buy gas from the same station, then you can benefit from these credit cards. However, these credit cards may not work for you if you travel a great deal. In this case, you have to make sure that your gas credit cards will work during your travels.
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