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Travel Hack 002 – I don’t like Double Cash Back Credit Cards!

< object type= "application/x-shockwave-flash" design= "size:425 px; elevation:355 px;" information="// www.youtube.com/v/WVdmysj2eh8?color2=FBE9EC&version=3&modestbranding=1" >< param name= "film" value ="// www.youtube.com/v/WVdmysj2eh8?color2=FBE9EC&version=3&modestbranding=1"/ > This video clip covers my viewpoint on money back cards like CapitalOne Endeavor, Citi Dual Money, Barclay Arrival And also Globe Elite as well as Quicksilver cards.

BANK CARD: (I could make a referal bonus offer if you apply with my web links).

Alaska Airlines Visa (I may gain 5000 miles).
30,000 perk miles after you make at the very least,000 or more in acquisitions within the first 90 days + companion fare!

Chase Sapphire Preferred (I gain 10,000 Ultimate Incentives Points).
Gain 50,000 perk factors with Chase Sapphire Preferred. Find out more. https://applynow.chase.com/FlexAppWeb/renderApp.do?SPID=FNLC&CELL=63HB&MSC=1518335145 #ad.

Chase Liberty (I earn ).
Make 0 cash back with Chase Freedom ®. Apply at https://applynow.chase.com/FlexAppWeb/renderApp.do?SPID=FMM3&CELL=63HB&MSC=1374556809 #sponsored.

American Express Hilton HHonors Surpass (I make 20,000 HHonors points).
Gain 100,000 HHonors Points after,000 in spend: https://www.americanexpress.com/us/credit-cards/personal-card-application/hilton-hhonors-surpass-credit-card/100336-750-0-67517124D744D4A40ECF493603508F23F630B68437904BAA-200737-gdQi*pg9tBFb6cZ70ndVLfTbFjc=?om_rid=NvWoVx&om_mid=_BYtlVQB9XOGNGR&om_lid=axp6.

American Express Hilton HHonors (I make 15,000 HHonors Factors).
Make 75,000 HHonors Details after,000 in invest in the card:.

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How long does Chapter 7 bankruptcy last? What will my life look like during bankruptcy?

How long does Chapter 7 bankruptcy last? What will my life look like during bankruptcy?

A Chapter 7 bankruptcy is the most common bankruptcy filed. Chapter 7 bankruptcy eliminates most debts such as credit cards, medical bills, judgments, mortgage deficiencies, collection accounts, and many other debts. The elimination of debt through bankruptcy is called a “discharge,” which means you are no longer obligated to pay the debt. Filing Chapter 7 bankruptcy eliminates all debts except student loans, child support, overdue taxes from the past three years, and court-ordered restitution. The biggest benefit of filing Chapter 7 bankruptcy is that it only takes 90 days to finish. It’s one of the quickest debt relief options available.

Chapter 7 bankruptcy is known as a “liquidation bankruptcy” because the Chapter 7 bankruptcy court appoints a “trustee” who can sell or “liquidate” your unprotected assets and use the sale proceeds to pay your creditors.

The nice thing about Chapter 7 bankruptcy is that you know which assets are protected and which are not before you file. In most states, you can often keep your car, home, clothing, jewelry, household items, and 100% of retirement accounts. The property you get to keep after filing for bankruptcy depends on your state’s “exemptions”. Each state has an exemption law that delineates the type and amount of property a debtor can keep away from his creditors. All states allow you to keep 100% of your retirement accounts.

Your rights to receive certain benefits, such as social security, unemployment compensation, veteran’s benefits, public assistance, and pensions are completely exempt regardless of the amount received. No one can take away those future benefits if you file bankruptcy. Bankruptcy protects cars and homes depending on the amount of equity held in the property.

What happens if you are above the exemption amounts or you have unprotected assets? In Chapter 7 bankruptcy, the trustee has the right to sell the property and disburse the proceeds to your creditors. Some trustees allow the debtors to buy back the items from the trustee. Another option is to sell unprotected assets before you file for Chapter 7 bankruptcy. Many Internet postings advise against selling any property before filing for Chapter 7 bankruptcy as it may be seen as keeping an asset out of the hands of a trustee. However, anyone can sell property before filing for Chapter 7 bankruptcy so long as the asset is sold at fair market value.

If you do sell an asset prior to filing for Chapter 7 bankruptcy, and assuming it was at fair market value, the next question you have to answer is, “what did you do with the money?” This is where people get into trouble. Some people will sell the car at fair market value and then give the money to their father to repay a loan from him. That is a preference payment the trustee can recover. Your father would have to return the money to the trustee. Instead, invest the proceeds in a retirement account, pay your taxes, or spend it on personal needs.

Some people fear Chapter 7 because they worry the trustee will sell their home and other assets even though it rarely happens. The latest statistic from the U.S. Trustee Program with the Department of Justice, which is the federal agency that oversees bankruptcy cases and trustees, is that only 5% of Chapter 7 cases have any assets that can be sold. This means 95% of the people who file for Chapter 7 bankruptcy do not lose anything.

Chapter 7 bankruptcy is a powerful way to get out of debt, and with all powerful tools, there are some restrictions. In October 2005, the bankruptcy reform laws were revised with a new requirement: a “means test.” This test evaluates your income to determine if you are eligible to have your debts dismissed completely under Chapter 7 or whether you need to enter into a debt restructuring plan under Chapter 13.

You may qualify to file Chapter 7 bankruptcy if your income falls below the median income in your resident state based on your family size. For example, in Colorado, if you are a single person who makes less than ,000 per year, then you can file for Chapter 7. If you earn more than the median income, you may still qualify for Chapter 7 provided you are unable to set aside at least 25% of your income to repay your creditors. If you don’t qualify for Chapter 7, it doesn’t mean you cannot file bankruptcy as there are two other bankruptcies available.

For more information about Chapter 7 bankruptcy, visit www.HeupelLaw.com or call Heupel Law at (303) 955-7570. Heupel Law is located at 2440 Stout Street, Denver, CO, 80205. To watch this video again, click https://youtu.be/HBnehNrXzeI.
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Top 5 Bankruptcy Facts

You can bet your bottom dollar these facts will be interesting – if you have one left, that is! Welcome to WatchMojo’s Top 5 Facts. In this installment, we’re counting down the five most interesting facts about Bankruptcy. Suggestion Tool►►http://www.WatchMojo.com/suggest Subscribe►►http://www.youtube.com/subscription_center?add_user=watchmojo Facebook►►http://www.Facebook.com/WatchMojo Twitter►►http://www.Twitter.com/WatchMojo Instagram►►http://instagram.com/watchmojo Channel Page►►http://www.youtube.com/watchmojo

In this installment, we’re counting down the five most interesting facts about Bankruptcy.

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Why Banks and Credit Bureaus Really Like Minimal Credit Scores…

Most individuals understand having reasonable credit scores cost over having a top one. However, exactly what couple of customers previously know is simply exactly how pricey their particular reasonable credit score really is. Today we WON’T mention the simple fact a minimal credit score might cost you a job (because over 50percent of employers are now working credit inspections on job applicants).

We WON’T speak about the simple fact you might end up spending up to 40per cent more for the auto insurance (because most insurers today check credit whenever quoting premiums). We WON’T mention the very fact many utility organizations for Electrical, Gas, liquid or Cable now need a deposit before services are fired up mainly because of the lowest credit rating.

We WON’T talk about others FIVE methods a low credit history will cost you cash and also make life more difficult every single thirty days.

No… today we’re going to talk about concerning the a good way a minimal credit history can cost you a lot of money and exactly why the banks and credit reporting agencies love your very low credit rating (if you opt to do nothing about it). That one element of credit if not dealt with will cost the common American over $ 100,000.

Even worse, it may price the regular large financial company or loan officer over $ 100,000… every year. The saddest section of all? The financial institutions and credit bureaus win if you do-nothing simply because it is your reduction along with your loss is the gain. Let us explain…

We all realize the greatest purchase a consumer can certainly make inside their life time is their residence. Because of this, the greatest quantity of interest previously paid in a consumers’ lifetime are regarding the loan, for that household. Once more, many customers know with a decreased credit rating they are going to pay an increased interest thereon loan.

However, few customers previously learn the actual amount that enhanced interest ends up costing them over the life of the home loan. After all, the typical American customer now life in a world where their particular just focus whenever funding anything, is about…The payment per month.

This form of reasoning feels good in short run but becomes high-priced in the long run. Let us look at some informative numbers as to the reasons with all the account of Bill and Ted.

Bill and Ted both purchased houses in identical neighbor hood, for a passing fancy street and also for the same price. Bill had increased credit score and borrowed $ 180,000 to get a 4 bed room 3 bathtub residence. As a result of their higher credit rating he got a 30 12 months fixed rate loan at 5.5percent interest. This is what Bills loan appeared as if:

His loan quantity ended up being $ 180,000. His interest was 5.5%. This provided Bill a month-to-month payment of $ 1022.02. Their payments over three decades totaled $ 367,927.00. His interest paid across term totaled $ 187,927.00 (Of his $ 367,927 overall payments… $ 187,927 went along to interest).

Bill purchased their residence two times after interest, but try not to wince until finally we’re done dealing with Ted.

Ted had a lowered credit history and borrowed $ 180,000 to purchase a 4 bedroom 3 bath residence on the same street as Bill. He got a thirty year fixed loan and, but as a result of his decreased credit score their interest ended up being 8.0per cent rather than Bills 5.5%. Here’s what Ted’s loan for the same $ 180,000 loan seemed like:

Ted’s loan amount ended up being $ 180,000. Their rate of interest had been 8.0percent. This offered Ted a monthly payment of $ 1320.78 (about $ 300 more every month than Bills). Ted’s repayments over three decades totaled $ 475,479.00. Ted’s interest paid across term totaled $ 295,479.00

The issue isn’t that Ted paid over $ 295,000 in interest on their loan of $ 180,000. The actual issue is the fact that Ted paid $ 108,000 MORE in interest than Bill because his credit rating ended up being reduced!

Teds total home loan interest paid = $ 295,479.00
Bills complete mortgage loan interest paid = $ 187,927.00
Difference = $ 107,552.00

The harsh the truth is that Ted’s credit score cost him $ 107,000…But that isn’t the specific tragedy of tale.. .The worst part is Bill and Ted had been brothers and both had negative credit in the same time (years before buying their particular houses). The actual only real difference was Bill took activity to correct his credit, while Ted didn’t.

Now, think about “Just who got Teds’ $ 107,000 in extra interest payments?” RESPONSE: the financial institution.

And that’s why banking institutions love reduced credit ratings. Clients like Ted are more satisfying than leads like his brother Bill. All because a lower credit score indicates they have to spend a higher interest and most consumers like Ted do not begin to see the huge picture, alternatively they only target…The month-to-month Payment they can manage.

Banks enjoy individuals like Ted simply because they make millions off all of them. Are you going to end up being like Ted and wasting over $ 100,000 in interest repayments in your house? Hopefully not…

Now that people’ve gone over why banking institutions enjoy low credit scores… let’s discuss why credit reporting agencies appreciate all of them equally as much (if not more).

If you ask ten People in the us on the street… “How do Credit Bureaus generate income?” You are going to inevitably have the exact same response all 10 times: “By Selling credit history obviously!”

Although this reply does work, it is not… the whole truth.

The actuality usually credit agencies result in the almost all their earnings selling information that is personal, perhaps not running credit history. In exemplory instance of Bill and Ted one does not have become smart to realize Ted is an even more worthwhile client into lender than Bill, for the reason that Ted needs to spend a larger rate of interest because of his credit score. This is due to the fact Ted is really what’s understood as…”A SUB-PRIME Borrower”

Since sub-prime consumers tend to be more rewarding customers simply because they spend greater rates of interest, there is a thriving business for credit reporting agencies to sell lead data to Mortgage Lenders.

Remember, credit reporting agencies make the almost all their cash never by advertising credit file but by offering private information. And, the only thing more profitable than attempting to sell private data, is when you can sell that very same information that is personal, over and over repeatedly to, multiple consumers. Why don’t we wrap-up in just one instance…”TRIGGER Leads”

sometime straight back the credit agencies created a really worthwhile product to sell to home loans labeled as “TRIGGER LEADS.” The finest means we like to explain a “Trigger contribute” to customers, will be have them imagine they work at their particular local Sheriffs workplace responding to the telephone.

Then, every time somebody calls and gives their title, target and contact number being file a police report that their property was just damaged into… then they just take that information and turnaround and offer it as a “Lead” to 20 different “security organizations” so that they can speak to the recent target about purchasing a security system with their house.

After all, you cannot locate a “Hotter contribute” for a home security system than a person whose only had their home robbed within the last a day!

Trigger Leads basically work the same way except they truly are offered to mortgage brokers. It really works such as this: Joe customer would go to their local lender or large financial company to obtain prequalified to buy a property. Thus, the lending company pulls their credit along the way.

The Credit Bureau note that Joe Consumer is searching for that loan so they then market their name, target and telephone number with other home loans as a “Trigger Lead” inside 24 hours, so they can phone him and pitch him an improved price. Noise interesting? It gets better.

oftentimes the “Trigger contribute” may be offered twenty times in under 24 hours. Shocked? Avoid being… perhaps not until such time you find that “Trigger Leads” can cost around $ 5 each (or even more according to the information selects).

So why don’t we break down the numbers real fast. Joe customer gets his credit taken in the program of action of “prequalifying” for property mortgage. His individual data is after that offered for $ 5 as a “Trigger contribute” to up to 20 distinct home loans within 24 hours. Simply math tells us when 20 men and women Each Pay $ 5 for Joe’s email info…that’s $ 100 developed off Joe’s Name!

Now imagine just how many “Joe’s” are created daily because of the credit reporting agencies? Selling sales leads for loans and charge card provides is large business when it comes to credit agencies. What other businesses have actually a repository of over 200 million brands they could make earnings off selling over repeatedly? Now, imagine who’s more beneficial “LEAD” they are able to offer?

A person with a greater credit score? Or…A person with a really reduced credit score?

The answer is obvious. And, additionally becomes apparent why the Credit Bureaus have computerized a great deal of their consumer dispute procedures overseas. It is also the key reason why the credit agencies have shown no real motivation to reduce the sheer number of harmful errors in credit reports with enacting stricter data management. In the end “SUB-PRIME consumers” tend to be more Determined plus profitable and that is the key reason why the credit agencies value your minimal credit rating…

Jay Peters has Zodiac Publishing, which developed the “Credit fix Intelligence System”, providing you the answer to aid you together with your need to comprehend credit scores. For additional no-cost reports and video clips with distribution rights please check out their website and find out about credit bureaus.