Newsflash

Last April, President Bush enthusiastically signed into law the oddly-named Bankruptcy Abuse and Consumer Protection Act. This bill, representing the biggest overhaul of bankruptcy law in twenty-five years, was written in order to discourage "bankruptcy of convenience." Proponents of the bill, which included the credit card industry, say that the bill is necessary in order to stop an avalanche of bankruptcy filings by drug users and compulsive shoppers and gamblers. The law makes it harder to have debts wiped away, requires credit counseling for those considering bankruptcy, and holds attorneys responsible for paperwork errors by their clients in bankruptcy cases. The net result will probably be chaos, as fewer attorneys will handle bankruptcy cases, credit counselors will raise their fees, and more consumers with problem debt will be clueless as to what they should do next. Adding to the confusion are some new statistics that suggest that a large number of bankruptcies that are thought to be personal are actually business bankruptcies. As a result, the new law may be unfairly targeting consumers for punishment when they are not actually the biggest part of the problem. Worse, it could be harming small businesses.

Studies suggest that the number of business bankruptcies may actually be up to ten times higher than previously reported. Many small businesses that fail and file for bankruptcy do so under guidelines that technically classify them as personal bankruptcies. The new law doesn't account for this, however, and treats such bankruptcy filers no differently than those who file because they can't stop shopping. It benefits no one to force a small store owner to undergo mandatory credit counseling when their business may have failed due to other reasons, such as having a big-box retailer more in next door. Even if that is the case, the law will require the bankrupt business owner to attend counseling in order to learn about managing personal and household budgets. This wastes the time of both the business owner and the credit-counseling agency and denies valuable counseling resources to those people who may really need it.

In time, Congress may amend this legislation if certain aspects of it do not work as intended. In the meantime, small business owners and those with personal debt problems will be inconvenienced, credit counseling agencies will be overworked, and no one will be any better off for it.

©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding home equity loans.

 
Home arrow Blog arrow Fisher Auction Company Holds Live Auction September 23, 2007 Kissimmee, FL (Orlando Area) - 121 Bank
Fisher Auction Company Holds Live Auction September 23, 2007 Kissimmee, FL (Orlando Area) - 121 Bank PDF Print E-mail
Tampa, FL (PRWEB) September 5, 2007 -- Bank-Owned Homes located through out Florida to be auctioned off September 23, 2007. The live auction is open to the general public and will take place at the Radisson Worldgate Resort, Kissimmee, FL 34747. Potential home buyers can go to www.fisherauction.com for more property list, information and available times to inspect the homes.

 

If a potential buyer is unable to attend the live auction they can still buy a property by submitting a sealed bid on the proper forms with earnest money prior to the auction. There will be off site telephone bidding locations identified in the auction information although it is recommend that the bidder attend the live auction.

 

Informational seminars will be held in several locations prior to the auction. Visit www.fisherauction.com for exact dates & locations.

 

Fisher Auction has been in business for more than 38 years. They were chosen to hold this auction due to its excellent reputation in the real estate auction business. Owner Louis Fisher III states, "We are familiar with operating in this environment where strong accountability and reporting requirements are necessary for the institutions we represent."

"Financing will be available on many of these properties," continued Fisher.

 

The company comes to the table with a strong national presence and a sound tract record; it held the largest real estate auction in Texas with more than 1800 properties being sold and the largest online auction of real estate properties with over 2100 properties sold for more than sixty five million dollars.

 

Fisher Auction Co. currently serves 46 states, as well as the U.S. Virgin Islands, Mexico and Puerto Rico.

 

For further information and frequently asked questions visit www.fisherauction.com or contact Louis B. Fisher III at 954-931-0592.

 

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 to the state where the plan accounts are set up.

There are three very distinct advantages of investing in a Bank of America 529 Plan.

1. The plan is one of the best options for funding college expenses for children as they grow. It is a good method of investing at current rates and then reaping benefits at the highly inflated rates that may prevail ten to fifteen years down the line, when the child is ready for college.

2. Adults look upon the Bank of America 529 Plan, and indeed all other such plans, as a method to get interesting tax deductions on their income. The Bank of America 529 Plan, specifically allows the investor to put in up to $12,000 individually, or $24,000 on a couple basis per year. This investment for the child's future is free of any federal gift taxes. In South Carolina, the plan is also free of state income taxes. This allows the financial assets to grow without the high deductions of tax.

3. The plan does not just help to fund college tuition fees like most education investment plans, but it also helps to pay for other education-related expenses. This includes accommodation, books, computers, joining libraries, etc. However, money taken out for non-educational requirements will no longer remain tax-deductible.

With a Bank of America 529 plan, you will have to work with a financial adviser who will help choose between the several portfolios where these plans can work with. The financial adviser is just an assistant and guide in the process; the direct relationship of the account owner with the beneficiary remains unaltered.

Like all other 529 Plans, Future Scholar Education Savings Plan also provides the possibility of changing the beneficiary at any time during the life of the plan. Thus, if the student gets a scholarship for the college, or simply wishes not to attend college, then someone else can be made the beneficiary of the plan, provided that this new beneficiary is related to the original one.

 

Invest in your kids future. Start now at http://www.529planz.com 529 Plans Author: Kip Goldhammer

 
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