Do you know that there is a similarity between medicines and debt? The similarity lies in their expiration date. While you may have lamented when your medicines have crossed the expiration date, chances are less that you have felt feel equally bad when your debts crossed the Statute Of Limitations (SOL) period.
It is true that you cant reuse your medicines. However, the same thing cant be told about the debts. Your old debts can revive again because of some costly mistakes. Once the SOL clock on the debt restarts, you become legally liable for the debt again. This means that the collectors/creditors can legally enforce you to pay off the debts. Read along to get acquainted with some tips that can help you prevent old debts from getting a fresh lease of life.
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The housing crisis is creating a health crisis, according to a new study released by the American Journal of Public Health. It’s the first long-term survey of the impact the housing crisis is having on older Americans. The study found high rates of depression among those who are behind on their mortgage payments. The study also found that those people are more likely to make unhealthy financial tradeoffs in terms of the food they eat and the prescription medications they need.
The study was launched because of the large number of homes falling into foreclosure. In the past studies showed that home ownership actually helped someone’s health while financial strain was associated with higher death rates and worse health. “More than a quarter of people in mortgage default or foreclosure are over 50,” says the study’s principal investigator, Dawn E. Alley, Ph
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Last week the IRS published the following Private Letter Rulings relating to international taxation:
- Late passive foreign investment company (“PFIC”) qualified electing fund (“QEF”) elections:
- 201142012
- 201142013
- 201142014
- 201142015
- Late PFIC mark-to-market elections:
- 201142017
- 201142018
- 201142019
- Late Canadian registered retirement savings plan (“RRSP”) deferral election:
Are you trapped in a credit card debt? Well, that’s pretty common in the age of sky high expenses and thus here are some useful tips to prevent or come out of the credit card debts. Firstly, in such a situation, stop using the credit card completely for a certain period. Don’t take it while going out, especially in the major expenses.
You can use cash instead for some time. Yes, it’s difficult when you are habituated with credit cards but you have to make it for a certain period. Then, you need to create your budget plan this time. The budget plan would help to point out your unnecessary spending which must be eliminated now. It would also make you aware of the areas of priority.
Then, another tip is to improve credit rating and request the company for a lower interest rate. Lastl
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IVA and Debt Consolidation are both two very different debt solutions. Therefore it is essential that you seek expert IVA or debt consolidation advice to understand which of these two debt solutions is right for you.
A debt consolidation loan is when a borrower takes out a loan to repay their existing debts. This leaves you with just one payment to make as all of your other debts will have been repaid with this new loan.
An IVA is not a loan; it is a formalised agreement between the debtor and their unsecured creditors. The debtor agrees to repay a set amount for an average of 60 months.
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— Abigail Shipp @ 1:18 am — 
October 28, 2011