Monthly Archives: March 2015

The Wells Fargo Wagon Doesn’t Come Down the Street – Bankruptcy Issues and Your Bank

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If you have more than $5,000 in your Wells Fargo checking account when
you file a bankruptcy petition, be prepared. If such a situation occurs,
you may not have access to all of your hard-earned money. In many
cases, Wells Fargo will freeze your account until the bankruptcy trustee
tells them that it is okay to release it.


Why would this happen? It is due to a strict reading of the law. What
happens is that, when you file bankruptcy, you turn over legal ownership
of all your assets (including the money in whatever bank accounts you
have) to the bankruptcy trustee. So, essentially, it isn’t legally your
money any more. Wells Fargo Bank, in an effort to protect unappreciated
and defenseless bankruptcy trustees everywhere, wants to make sure that
the trustees’ money is kept safe from the depredations of debtors.


Wells Fargo Bank does have a legal justification for this with the case
Mwangi v. Wells Fargo, 432 B.R. 812 (9th Cir. BAP 2010).

Of
course, the vast majority of accounts with more than $5,000 in them will
be unfrozen with no payment to the trustee. That’s because the trustee
returns property to debtors that he can’t keep – stuff that is either
worthless or exempt from collection. In California, debtors are allowed a
“wild-card” exemption of up to almost $23,000. That means any
collection of assets, including cash in a bank, worth up to $23,000 will
be returned to the debtor.

There may be circumstances where a
debtor should file bankruptcy at a time when he has nonexempt cash in an
account, but those are few and far between. If Wells Fargo ever turns
over cash from a frozen account to a trustee, I will immediately think
of malpractice on the part of the debtor’s attorney.


So the Wells Fargo practice of freezing accounts, while
legally-sanctioned, appears to be useless except for the purpose of
inconveniencing people of lesser means.

In the meantime, my advice to would-be debtors: get your money out of Wells Fargo accounts.


Also, in lieu of such situations, always be mindful that there are
plenty of resources for debt counseling, bankruptcy and many other
financial problems. If you are having trouble with your finances, then
seeking advice from credible and professional entities is hardly every
anything less than beneficial. Even if such problems are unavoidable,
those same entities can provide you debt relief and bankruptcy services
that can help you in a bind.

Things To Be Aware About Regarding Mobile Banking

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When we think of cell phones and smart phones, we think of small computer devices. They function and behave as if they are smaller computers. That is how far technology has reached to make lives of people a lot easier. In lieu with this magnificent innovation, nowadays, banking seems to be very convenient for individuals. It seems too convenient, allowing people to use their mobile phones to make quick checks in to their accounts, pay bills or just send funds. The world now embraces a new form of banking, as if online banking is not enough.

Mobile banking is a great tool. It is convenient, fast, easy and accessible. Here are some things that you might want to consider if you wish to do banking through your mobile phone.

The issue of security
There is a general consensus between banking experts that mobile banking, to some extent, is safer compared with online banking. This is true when considering the amount of security risks and malware that could infect the mobile phone. However, that is just one aspect of security and baking using your phone has other security issues. If there is computer phishing, then there is mobile smishing. This is when the person receives a fake message via SMS asking for account details. The hacker poses as a reputable bank or financing company. Do not feel like you are immune to such seemingly obvious scams. A lot of people have lost money from such tricks.

Phone being stolen.

If you lost your phone or it was taken from you by a robber, even if passwords are necessary, when it comes to mobile banking, most users tend to apply easy to break passwords so that banking can be easy. With such ease in technological use, the account holders must always use stronger passwords because this is the only tough thing that you can do so that no sneaky individual can guess your banking details.

Compatibility
Most banks only have their mobile services offered to those clients with smart phones. These are specially made applications that can be used to make the most out of your mobile use. Those old, outdated phones are not supported and sometimes, even if banks allow, they are only limited for account balance checking only.

There are additional fees when doing your transactions via SMS. Compared to online options, they are virtually pricey because you have to pay for every text message that you send to handle banking. In some cases, those that use specialized software will have to ask for a fee.

Understanding Procedures For Credit Card Application

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Credit card, which is also known as plastic money in banking
terminology, is one of the greatest systems for payment against any
goods and services you wish to purchase. Hence the main benefit of the
credit card is to give you right time financial backing during shopping
or making payment against something very important.

Today the plastic money is not to elaborate your
luxurious high profile image; it is also all about receiving on time
financial assistance in odd times. With the plastic money in wallet is
itself a sense of confidence of buying your favourite goods and
services.

The credit has benefited a lot of people. With its on
time monetary solution, people from different financial background have
adopted as a way to monetise their expenses tremendously. If you are one
of the people who wish to purchase a plastic credit, there are a lot of
banks and companies that can cater your need tremendously. First of
all, you should have to visit one of the banks or companies and apply
for the card.

You will be asked to show some of the proofs such
as resident proof, identity proof, age proof as well as income proof
along with business continuity proof (in case you happen to be a self
employed individual). After submitting these documents, you will be
required to fill up an application form.

You can fill such form
by visiting at the website of a particular bank or visiting its branch
in personal. Either way will help you fill up the application form for
the plastic credit. Eventually you will be informed approval or
disprovable of the application by the bank itself.


Approval or disapproval of the credit card application depends upon
some factors. First of all, if you have not supplied proper and relevant
information as demanded or asked by the bank. Furthermore, if the
current income and credit history of yours are not impressive, your
application will be disapproved.

On the contrary of it, your
application will be approved if everything asked by the bank is
relevantly submitted along with having impressive credit history and
income. Once the card is approved, there is chance to avail bonus
points, reward point and a lot more benefits, depending on the type of
plastic credit you bought.

Before ending the article, let me
tell you that you should consider you’re the type of card and need first
before you plan to have a card. There are countless such cards
available and might confuse you to choose one of the best ones for your
need. Better consult a bank and ask everything in this regard.

The Pros and Cons of Re-affirming a Debt in Bankruptcy

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Under normal circumstances, when you reaffirm a debt, you are required
to sign a contract with the lender that you are going to continue making
the payments until you clear all the balances. Such contracts include
taking mortgages or a vehicle loan. However, you need to be very careful
when signing such contracts as it may lead to be totally out of
bankruptcy. In other words, if you fail to make continuous payments, as
the deal requires, the lender has the authority to reposes the property
you acquired from the loan you were given, for instance, the vehicle you
bought and other personal properties to settle down the balances owed
from you.

Signing reaffirmation agreement has several advantages. These include the following:


First, since the debt by the lender doesn’t show the amount discharged
on your credit, then, you will continue to receive all the affirmative
impacts on your credit from regularly monthly payments.


Secondly, the agreement is a deal between the lender and the receiver so
that both negotiate for the better terms and conditions for the
existing loan. Therefore, the lender will be certain that the loan
receiver will not walk away without clearing the outstanding balances.


Thirdly, the reaffirmation agreement will be used to calculate the
interest rate deductions that will helpful to the person being advanced
with the loan, such that his/her monthly payments would be more
affordable. In addition, principal balance reduction will be indicated
too.


Finally, upon signing reaffirmation agreement, you will be certain that
all the laws have been complied with and you will be sure that security
of your property. Therefore, the lender will not be able to repose your
property such as your vehicle unless you have defaulted in making your
regular monthly payments.

However, reaffirmation agreement has its drawbacks, and the following is the most common:


If you fail to clear all the outstanding loan balances, the property
acquired will be reposed to clear it. The worst-case condition is that
you are less likely to ask for another loan in the future. Some lenders
can blacklist your name and other lenders would shy away from you.


All reaffirmation agreement must done in the lending office upon which
the loan will be processed. The agreement must be witnessed and
thereafter signed by you (whom loan will be given), a bankruptcy judge,
and the lender. In addition, the agreement must approved by the court;
therefore, the loan requester and the attorney must appear before the
court to affirm your agreement before the judge that you will be able
repay the loan each month. However, most lenders charge additional fees
to facilitate the above extra steps.

Infinite Banking For Business – How To Make It Work

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Infinite Banking Systems are becoming a trusted vehicle for growing individual wealth. But there are also many practical and beneficial ways to apply the Infinite Banking concept to businesses.

Understanding the Infinite Banking System
The concept is the same. With the Infinite Banking System, you put yourself in the position of being your own bank. This is done through a dividend-paying whole life insurance policy. As your cash values begin to grow you can begin to lend yourself money. If you need to repair something in your home, for example, you can borrow the money from yourself using the cash values within your policy.

You set the loan amount, the interest rate and the payment schedule. When you pay the loan back, you pay yourself with interest. So you are financing and making money on yourself, instead of paying that money and interest to a bank or other financial institution. Even better, your cash values will continue to earn interest and you may earn dividends on your entire pre-loan amount, as if you had never borrowed money.

Applying the Infinite Banking System to a Small Business
For a small business owner, the Infinite Banking System has a variety of potential benefits. Loans from your whole life insurance can be used to pay for legitimate business expenses, including:

-space rental
-new equipment
-office supplies
-bonuses
-corporate vehicles
-business travel

These are only a few ideas. The limits are infinite. And as with policies that serve individuals, the more you use the Infinite Banking System for business purposes, the more benefits you’ll receive. You can create a cash side account or gain, simply as a bi-product of your regular business transactions.

So why would you do this? Because the IRS allows businesses to write off legitimate business interest expense. By funding business expenses through your dividend-paying whole life insurance plan, you create an investment return for yourself and a tax write off for the business. It’s a win-win relationship. You, the individual, loan money to the business. The business pays back the loan amount plus interest to you, increasing your account cash values. The business gets to write-off the interest paid on the loan as a legitimate business expense.

While business owners can use their personal whole life policies to fund business expenses, policies can also be purchased by the company on key individuals, offering the same benefits of cash value liquidity, loan opportunities and tax advantages.

Making Infinite Banking Work for Larger Businesses
The concept of Infinite Banking has been an accepted practice in larger businesses and corporations for some time. These types of businesses obviously have a much greater need for capital – far bigger in scope and volume than an individual or small business does. But the Infinite Banking concept is carried out through Corporate Owned Life Insurance, and its counterpart, Bank Owned Life Insurance.

Corporate Owned Life Insurance
Corporate-owned life insurance, or COLI, is traditionally purchased to cover a business’s key executives. These policies are also known as “key person” insurance. A corporation will purchase a life insurance policy on a key employee to cover the potential financial cost of losing him or her to unexpected death. The insurance coverage is intended to cover the cost of recruiting and training new talent and to offset the possible loss of business due to the key employee’s absence. It also helps a company recoup the possible cost of benefit payouts to the deceased employee’s family.

COLI accounts can be used in the same way as individual whole life policies. Corporations use their participating whole life insurance policies to build cash values. Just like with individual policies, contributions and gains accumulate tax-free, and loans can be made as needed for any business need.

Bank Owned Life Insurance
The financial industry has its own version of this type of insurance. Bank-owned life insurance, or BOLI, has been traditionally purchased by financial institutions for their key executives. And although its been an accepted practice for many years, its popularity is increasing. In 2008, for example, banks purchased $126.1 billion of whole life insurance.

Using COLI and BOLI as Infinite Banking Concepts
Because these corporate life insurance policies are usually for much larger amounts than individual policies, the potential for reinvestment and explosive cash value growth are much greater. Although the policies cover individuals, they are purchased to protect corporations and banks for their potential losses, boost Tier 1 capital and provide benefits that might not otherwise be affordable. So it is the corporation or bank that is the policyholder, and these purchasing institutions can use these policies much like an individual uses a participating whole life policy to fund the Infinite Banking System. Corporations can use the cash values within their policies to fund legitimate business expenses such as:

-Large equipment or machinery
-Employee retirement plan
-Employee Health & Wellness Plan
-Corporate Vehicles
-Your lease/building space
-Corporate Housing
-Travel Expenses
-Business Loans
-Adding Fringe Benefits to Attract Key Personnel
-Business Acquisitions & Merger

Corporations and banks have long known the financial benefits of infinite banking through their COLI and BOLI policies. By using a dividend-paying life insurance policy as a platform for the Infinite Banking System, now smaller companies can enjoy these same benefits.

Remington Financial Group Incorporated

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Why do I see a charge from Pinpoint Financial Group,LLC on my credit card statement? PinPoint Financial Group is the company that owns MTOptions. All charges made by MTOptions will show up on your statement under Pinpoint Financial Group,LLC.No, SFS Group is not mainly a financial services company, but a diversified financial group. Its core activities are Financial Services, Investments and Asset Holdings. More information on the Groups main activities can be found at Business Overview and in the Businesses section.

Why do you need title insurance? A home is usually the largest single investment any of us will ever make. Title insurance protects against loss of value from hazards and defects that may exist in the title. These hazards include fraud, forged signatures on deeds, unknown property heirs, liens, and documentation errors. If you were uninsured and your right to title is challenged, you could lose significant money defending yourself or you could lose your home.

What are closing costs? Closing costs are all costs required to close the real estate transaction. They can include (but are not limited to) surveying fees, property taxes, title insurance, attorney fees, agent fees, points, loan origination fees, primary mortgage insurance (PMI), and the balance of your down payment.Mellon Investor Services, LLC – They may be contacted at: Mellon Investor Services, LLC 480 Washington Blvd. Jersey City, New Jersey 07310 First Niagara Financial Group’s ticker symbol is FNFG. Its stock is publicly traded on the NASDAQ stock exchange.The Mentor Financial Group, LLC affiliate program does have an Affiliate Agreement that all affiliates must review and accept when registering to participate in the program.

Why do I see a charge from Pinpoint Financial Group,LLC on my credit card statement? PinPoint Financial Group, LLC is the company that owns Monstertrades. All charges made by Monstertrades will show up on your statement under Pinpoint Financial Group.Yes, your money is safe. Randall Financial Group is a Registered Investment Advisor. However, Randall Financial Group never takes custody of your investments. You will never write us a check or hand any securities directly to us. All of our client assets are held at our custodian, Fidelity Investments.

Who is the transfer agent for First Niagara Financial Group, Inc.? Mellon Investor Services, LLC – They may be contacted at: Mellon Investor Services, LLC 480 Washington Blvd. Jersey City, New Jersey 07310 First Niagara Financial Group’s ticker symbol is FNFG. Its stock is publicly traded on the NASDAQ stock exchange.Historical financial information for SFS Group can be found in the Archived Reports. For any other financial information, contact Antonis Mitilineos, Group Chief Accountant.

What is a closing? Closing, which is also known as “settlement” or “escrow,” is the event where the title to a property is transferred from seller to buyer. Closing is typically held in an office, such as that of an attorney, title agent or title insurance company, and involves the completion of all the necessary paperwork to finalize the agreement between buyer and seller.The Western and Southern Life Insurance Company and Western-Southern Life Assurance Company are members of Western & Southern Financial Group (Western & Southern). Western & Southern is a dynamic family of diversified financial services companies that provide life insurance, retirement planning and investment products and services to help millions of consumers nationwide to plan and protect their futures.

Importance of Pre-Bankruptcy Credit Counseling

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Regaining control over your financial life is possible only on filing
for bankruptcy as it presents you with provides incredible protection.
No one can deny the fact that procedure of filing for bankruptcy is
quite complex even if you hire a bankruptcy lawyer. Filing is not just
as simple as other cases, before beginning of the paper work; you have
to fulfill the credit counseling condition 180 days before the time.
This credit counseling procedure also goes together with a debtor
education itinerary, which is obligatory before your debts can be
emancipated through bankruptcy.


Let us understand the benefits of credit counseling and how it is
important for an individual under financial crises. Debtor education
requirement and the credit counseling cannot be accomplished at the same
time. Credit counseling takes place before filing for bankruptcy; on
the other hand, debtor education happens after it. You will obtain a
numbered certificate as you accomplish these necessities, which defend
you against swindle.

There are so many things that you will notice during your session of credit counseling:

Evaluate Your Personal Financial State Of Affairs:
Analyze your assets, debts and income as it helps you in determining
your approach of moving forward. In spite of the actions taken for
financial recovery, you can actually experience a brand new initiation
once you become fully aware of your existing situation. Because filing
for bankruptcy offers you the chance to restructure and discharge debts,
it is fundamental to identify your debts so that you can make out which
opportunity is paramount for you.

Discover The Alternatives:
The main objective of credit counseling is to make certain that filing
for insolvency is strictly your most excellent solution. You will look
at other alternatives that can only be possible when you completely
understand your financial condition. Searching for several options will
definitely prove helpful, and moreover, defend against searching for a
substitute for the sake of steering clear of bankruptcy.

Produce A Budget Plan:
It is quite significant to make a budget plan as it will allow you to
meet all your goals whether you search for a substitute or file for
bankruptcy. Without any particular plan, the solution you opt for will
disentangle and you might find yourself fall behind on payments once
again.

There are so many other noticeable things that are
important during the session and you will know them only on contacting
the bankruptcy counselor. This professional should have years of
experience in handling such cases because bankruptcy is a field where
one case differ from the other. Every new case will present new
experience to the experts and hence they will share things on the basis
of this. Finding such professionals is easy as there are many who have
their own personal blogs and website. You can contact them on the basis
of judging their knowledge related to this field. It is not always
correct that they charge reasonably high. There are many who at their
best knows the situation of their customer and charge reasonable. There
are few who believe in no win a fee concept.

The Fractional Reserve Banking Fraud

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Fractional reserve banking and the fraud that came with it is at the core of the present-day financial system. In order to grasp an understanding of the ongoing dilemma, and why Federal Reserve Banks are at fault, it is essential to understand the concept of Fractional Reserve Banking and why it is more than just counterfeiting.

Contrary to what is believed, the American dollars in your bank account are not the same dollars in the form of cash (Federal Reserve Notes) in your wallet. The dollars in the banks are make believe paper dollars, or numbers on a computer created by the bank an obligation or promissory note to pay you a certain dollars in Federal Reserve Notes. Simply stated, the bank backs the dollars in your bank account while the Federal Reserve backs the Federal Reserve Notes.

Throughout time, gold was the only existing currency. Purchasing your daily loaf of bread with pure gold did not seem practical and for that reason, goldsmiths served as early bankers. Goldsmiths would issue certificates that were backed by gold and this allowed people to purchase things with paper money. This paper money was represented by pure physical gold bullion and was stored in the goldsmiths vaults.

Producing certificates to look after gold meant that a significant amount of cash (gold) was just sitting around in storage. So the goldsmiths decided to start a fraud. When this happened, they became the bankers we know today.

Creating this fraud was really simple. Given that people did not know how much gold was actually stored, it was easy for goldsmiths to issue out more certificates than the gold being stored. By doing this, they attempted to earn more interest than would have been possible if they would have limited themselves to loan based on the gold stored. These goldsmiths relied on the assumption that not all of the certificates would be cashed in at the same time and therefore nobody would find out.

This is a critical explanation of the fraud that is fractional reserve banking. In the time of goldsmiths, it was easy to distinguish between right and wrong. The promissory notes were backed by the gold in the vaults. The moment the goldsmiths decided to issue notes that were backed by nothing (aside from the supposition that they would have enough gold inventory to pay, assuming not everyone demanded their physical gold at the same time)thus the process of fraud began.

How is it possible that bankers were allowed to get away with something like this? How could no one say anything about the false creation of gold?

Enter the government. Corruption can stem from power, and absolute power corrupts absolutely. So indeed, the government knew the trick of the goldsmiths scam. However, the worlds ruling classes knew it was not convenient to stop it. Instead, they saw it advantageous to perpetuate the scam. Why? Because by taxing and regulating the issue of money, they could keep a system in place where both could profit. This inevitably led to what we know as Fractional Reserve Banking.

If you move forward in time 500 yearsthe US Dollar is the worlds reserve currency and serving like the worlds goldsmith. Privately owned by several mysterious group banks, the Federal Reserve System illustrates the jaded relationship banks and governments have developed in the last 500 years. For some reason, world economies fall in the same trap of the same scam.

The interest rate banks operate under and lend are controlled by the Federal Reserve. In addition, the Federal Reserve controls the fractional reserve ratios banks are required to maintain (as a percentage of their reserves held in Federal Reserve Notes). What does this mean? The money supply and the new money being created are controlled by privately owned company comprised of banks allowed to counterfeit money. There is also the interest charge on those dollars created out of thin air!

For those reasons, I have a nickname for Fractional Reserve Banking: I refer to them as Fictional Reserve Banking. How long will you allow yourself to be fooled by this fraud? Will you take the steps necessary to protect yourself and stay ahead of the crowd?

Here are some suggestions for further reading: It is essential to understand the Fractional Reserve Banking in order to find or create positive banking solutions for your family and future. Solutions like these are the ones author Peter Macfarlane writes about in his blog on offshore banking. Peter also writes several articles on the topic of Wealth Creation for The Q Wealth Report which is a leading quarterly journal dedicated to financial privacy and individual liberty, as well as offshore asset protection. He is also a well-known authority and speaker at offshore living events.

Find the Greatest credit card for college students via the internet

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Many credit cards provide a 0% apr introductory price as a way to get students to join their services. This may be a good way for students to buy the things that they want without having to fret about interest accumulation for a given time period. Uncover is just one of the credit card firms that supply these introductory rates.

Additionally, among the best credit cards for faculty students additionally haven’t any annual fees and assure that a student will not be held accountable for fraudulent purchases. This keeps students from having to pay necessary fees.es.

Some students can even wish to benefit from credit cards that provide cash back rewards points. This is a good way for students to be rewarded for making common purchases. Students can use the rewards that they earn to pay off some of their debt or reward themselves with a new purchase.

Cashback rewards are another type of reward that’s available. A certain proportion, often 5% to twenty%, is earned on the amount of cash spent at certain retailers. That amount is translated into factors and people factors will accrue over time. Theses points can then be redeemed for money that is utilized in the direction of the stability on the credit card. Another choice for the factors is to redeem them for prizes. The prizes will fluctuate from card to card and company to company but there are usually an enormous amount of prizes from many classes to choose from.

A rewards credit card, regardless that it is supplied to a younger group, is a great way to determine credit and a credit score score. These cards, if used responsibly, will be a good way to deal with any needs which will come up and get an excellent start on life. The rewards packages that associate with these cards are just an added bonus.

Another glorious choice for pupil credit cards with low APR is a secured credit card. The Public Savings Open Sky Visa charges the prime interest price plus 6.5% interest. There is no such thing as a annual payment and anyone can open an account. The Public Savings Open Sky Visa may be the good choice for a scholar who cannot get hold of credit score from a conventional company as a consequence of an absence of earnings or no cosigner.

There are many students who have to receive credit cards. Nonetheless, the CARD act has not helped students to obtain the credit that they need. Fortunately, there are still quite a few low APR credit cards accessible for students. Students simply want to concentrate on their choices and know how you can get hold of the credit cards which might be available.

With careful research and consideration, college students are able to get a credit card that meets their particular person requirements. If a pupil makes nice credit score decisions throughout faculty, he or she will have the ability to make the most of many new financial alternatives within the future.

Different Sources Of Finance Free Interesting Articles

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I am very sure that your chase for different sources of finance has arrived to an end as you study this article. Yes, those days are gone when we have to search continuously for different sources of finance information or other such information like banking, stocks, finance websites or even mba finance. Even without articles such as this, with the Internet all you have to do is plot on and use any of the search engines to find the different sources of finance information that you required.

Changing your monetary future cannot happen overnight, especially if you aren’t willing to make sure adjustments to your planning, lifestyle and expenditures. However , for those prepared to do so, the benefits will last well beyond your own lifetime and have an affect on your family for generations to come.

The area of accounting concerned with the collection of finance information to be used in making and reporting an organization’s financial results to external parties, including backers and executive agencies.

The mission of the Financial accounting standards Advisory is to build and improve standards of monetary accounting and reporting to guide and educate securities issuers, auditors, and stockholders.

I know that as informative as this article is, it might not adequately cover your different sources of finance quest. If this is so, don’t forget that the search engines exist for looking up more information about different sources of finance.

Handling finances is the most significant thing that we need to look into. Finances must be planned well to keep away from difficulties. Handling your debt is as critical as managing your savings. Your arrears can get you in deep difficulty if you do no look after them. Plan your debt relief.

First, financial industry mergers continue within each major line of business. Second, many leading firms see advantages in becoming diversified financial services empires, offering multiple lines of business.

One of the best methods to find potential planners is by speaking to others. If you already have an accountant, ask if they know of any planners that could aid with your situation. Check with friends and family or anyone else that you trust for referrals as well . It’s way better to get some first-hand proposals before scouring the phone book or net.

We discovered that many people who were also searching for information related to different sources of finance also searched online for related information such as unsecured finance, mobile home financing green tree, and even finance companies.