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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (165884)	3/18/2014 1:28:22 PM
From: TideGlider	Respond to of 224744

You are allow to keep your home. If a person has large equity in his home they should be forced to reduce the equity in order to pay their bills.

To: Kenneth E. Phillipps who wrote (165884)	3/18/2014 2:10:00 PM
From: jlallen	1 Recommendation Recommended By TideGlider Respond to of 224744

If you have a house paid for, the homestead exemption is not usually large enough to avoid Nonsense.....

To: Kenneth E. Phillipps who wrote (165884)	3/18/2014 2:13:44 PM
From: TideGlider	Read Replies (1) \| Respond to of 224744

Exemptions & "secured debts"Note that property that is collateral for a purchase-money loan (such as a car securing a car loan or a home securing a first mortgage) is not protected by exemptions from repossession actions by that lender. Any equity you may own in the property is protected and may give you certain rights against holders of judgment liens and second or third lien holders. Let's repeat that first point before we go further: Exemption laws do NOT protect you from losing property if you've voluntarily pledged the property as security for a loan and you don't make the payments*. Example: Unsecured vs Secured DebtsSo... for example. If you owe $30,000 to credit card companies, that debt is "unsecured". There is no collateral attached to it. No matter what they threaten, the credit card company can't take any of your exempt property. Likewise, most medical bills and lawsuit settlements are "unsecured" debts. If an unsecured creditor bothers to go to court get a judgment against you, they can get the court to attach a "judgment lien" to your property. But if the property is exempt, you typically can (and should) ask the bankruptcy court to remove that lien from your property (but you have to ask -- its not automatic). Continuing the example ... If you were persuaded to pay off your credit cards and other unsecured debts with a lower interest, "secured" loan, say, from a loan consolidation company, you probably pledged your home equity or other property as collateral. As a general principle, once you've voluntarily (i.e. through a contract or signing something) pledged your property as security for a loan, the exemption laws no longer protect you. The creditor can repossess the property you pledged regardless of whether it is protected by an exemption. Note that this is a general principle, among other factors -- more than we can go into here.... That's why we wrote a book... Specific facts might lead the court to apply other principles to, for example, undo a recent transaction if it unfairly benefited a single specific creditor at the expense of many others.

To: Kenneth E. Phillipps who wrote (165884)	3/19/2014 4:36:35 AM
From: FJB	2 Recommendations Recommended By TideGlider Woody_Nickels Respond to of 224744

Trudeau gets 10 years; Obama still at-large By Neil W. McCabe Tuesday, March 18, 2014 Now comes word that Kevin Trudeau, the author and infomercial genius or man who claimed the federal government was out to get him, was sentenced March 17 in a federal courthouse to 10 years in federal prison and fined $37 million for making false claims in his book, still available on Amazon.com after sentencing: The Weight Loss Cure ‘They Don’t Want You to Know About.’ This is how our government protects us from bad books and bad people, who claim to have a secret cure, but are really just taking our money, like rubes stumbling through the carnival. The prosecution of Trudeau was a joint effort by the Federal Trade Commission and the Justice Department. Do not hold your breath waiting for those two to get together again to prosecute President Barack Obama, or any of the other charlatans he brought to Washington with him. Yes, I will say it: Obama lied. The president said he would fix our health care in such a way that more people would have better coverage, and it would save us money, too. Of course, there were big lies and little lies. We were told we could keep our doctor. Lie. We could keep our plan. Lie. Our premiums would go down. Lie. Then, there was the stuff about health care reform saving money in the federal budget, improving services and covering everyone. Lie, lie, lie. Cont... canadafreepress.com