Month: July 2023

In 2023, the verdict is not out yet; however, we have some facts [real facts].  The premise is always financial.  Many factors come into play – in personal lives, family, friends, neighbors, relationships, community, county, state, nation, the world, and more.  As times change, so do the circumstances of our lives.

When considering the top 10 reasons people file for bankruptcy, we look distantly upon the past and remember more clearly the most recent events.  The data we have today reflects information currently available.  The long term projections are yet to come.

U.S. Bankruptcy Statistics

Debt is often driven by recession.  During the Real Estate collapse from 2008 through 2013, over 1,000,000 Non-business bankruptcy filings [per year] were petitioned. Since then, bankruptcy filings have slightly decreased per year – down to 400,000 in 2021.

The economic stress caused by the pandemic resulted in record highs of job loss, negative GDP, and increasing medical crises.  It is also projected that bankruptcy will increase in 2023.    Just the Facts: Consumer Bankruptcy Trends, 2005-2021 | United States Courts (uscourts.gov)

Most cases of bankruptcy aren’t caused by reckless spending but by financial hardship, and many are lower-income individuals who simply can’t afford to deal with unexpected major expenses such as job loss or medical bills.  Peaks in bankruptcy petitions typically signify economic downturn; and states with fewer consumer-friendly laws typically see the most filings.   Bankruptcy Statistics up to 2023 – What You Need to Know (debt.org)

Top 10 Reasons People File for Bankruptcy

“Generally, more than one factor will contribute to a situation that causes someone to file for bankruptcy”.  investopedia.com

“Not everything that can be counted counts, and not everything that counts can be counted”.  – Albert Einstein

#1 World Economics – Considering the top 10 reasons people file for bankruptcy, a world of economics is always a factor.  To describe complex global systems affecting us would require a walk through history.  As we look back in time, crises are often revealed after transpiring.  Many bankruptcies are consequences of unforeseen events as a result of “the world we live in”.

#2 National Finances –  Parallel to world economics are the national financial decisions made in which the public is often unaware.  It is difficult to plan for the future or make adjustments in unforeseen circumstances.  Unfortunately, many suffer in the process.

#3 Loss of Income –  Recently, The U.S. Bankruptcy Courts reported that the pandemic resulted in record highs of job loss (see link above).  Prior to the pandemic, in 2019, a Charles Schwab Survey reported that 59% of Americans were living paycheck to paycheck.  Schwab Modern Wealth Index Survey 2019 | About Schwab

#4 Medical Crises – In late 2022, Debt.org reported that 46% of bankruptcies now reported were medical related.  Medical issues can also lead to job and insurance loss.

#5 Real Estate Foreclosure – Home mortgages are typically the largest portion of household debt in the U.S. At the end of 2019, the Federal Reserve reported it is 70% of household debt.

#6 Natural Disasters – Unexpected disasters such as floods, tornadoes, hurricanes, and earthquakes can cause catastrophic damage to lives and property.

#7 Divorce – Can result in financial hardship for all family members including loss of property, legal expense, child support, and alimony.

#8 Late Life Crisis – The retired, aging, and elderly can increasingly suffer from the inability to perform normal basic life tasks, medical issues, and low income without necessary assistance.

#9 Loans – Vehicle payments and other misc. loans can be among the top 10 reasons people file for bankruptcy, also.  Although student loan debt is difficult to discharge in bankruptcy, many people might file for bankruptcy to eradicate other debt so they can afford their student loan payments.  investopedia.com

#10 Credit Crisis – Overspending on credit cards can lead to a bankruptcy for those who try to mitigate another financial crisis by using credit to survive.  Although, in recent news the U.S. Supreme Court ruled debtors cannot use the bankruptcy process in fraud used against them.  U.S. Supreme Court says bankruptcy can’t nix debts for others’ frauds | Reuters

Credit Monitoring Services Can Help Prevent a Crisis

IdentityIQ is proud to offer protection not only for you, but also your children living in your household as well. By protecting your family’s credit, you can have peace of mind while you enjoy more time with them.  IdentityIQ technical services will ‘keep watch’ 24/7 monitoring credit reports, score change alerts, dark web criminal tracing, and 20+ other benefits – find out more here!

Be sure to protect your financial health and future. Our customer service team is here in America to help you with professional direction and assistance.  Give us a call! https://creditmonitoringservices123.com

In 2023, the verdict is not out yet; however, we have some facts [real facts].  The premise is always financial.  Many factors come into play – in personal lives, family, friends, neighbors, relationships, community, county, state, nation, the world, and more.  As times change, so do the circumstances of our lives.

When considering the top 10 reasons people file for bankruptcy, we look distantly upon the past and remember more clearly the most recent events.  The data we have today reflects information currently available.  The long term projections are yet to come.

U.S. Bankruptcy Statistics

Debt is often driven by recession.  During the Real Estate collapse from 2008 through 2013, over 1,000,000 Non-business bankruptcy filings [per year] were petitioned. Since then, bankruptcy filings have slightly decreased per year – down to 400,000 in 2021.

The economic stress caused by the pandemic resulted in record highs of job loss, negative GDP, and increasing medical crises.  It is also projected that bankruptcy will increase in 2023.    Just the Facts: Consumer Bankruptcy Trends, 2005-2021 | United States Courts (uscourts.gov)

Most cases of bankruptcy aren’t caused by reckless spending but by financial hardship, and many are lower-income individuals who simply can’t afford to deal with unexpected major expenses such as job loss or medical bills.  Peaks in bankruptcy petitions typically signify economic downturn; and states with fewer consumer-friendly laws typically see the most filings.   Bankruptcy Statistics up to 2023 – What You Need to Know (debt.org)

Top 10 Reasons People File for Bankruptcy

“Generally, more than one factor will contribute to a situation that causes someone to file for bankruptcy”.  investopedia.com

“Not everything that can be counted counts, and not everything that counts can be counted”.  – Albert Einstein

#1 World Economics – Considering the top 10 reasons people file for bankruptcy, a world of economics is always a factor.  To describe complex global systems affecting us would require a walk through history.  As we look back in time, crises are often revealed after transpiring.  Many bankruptcies are consequences of unforeseen events as a result of “the world we live in”.

#2 National Finances –  Parallel to world economics are the national financial decisions made in which the public is often unaware.  It is difficult to plan for the future or make adjustments in unforeseen circumstances.  Unfortunately, many suffer in the process.

#3 Loss of Income –  Recently, The U.S. Bankruptcy Courts reported that the pandemic resulted in record highs of job loss (see link above).  Prior to the pandemic, in 2019, a Charles Schwab Survey reported that 59% of Americans were living paycheck to paycheck.  Schwab Modern Wealth Index Survey 2019 | About Schwab

#4 Medical Crises – In late 2022, Debt.org reported that 46% of bankruptcies now reported were medical related.  Medical issues can also lead to job and insurance loss.

#5 Real Estate Foreclosure – Home mortgages are typically the largest portion of household debt in the U.S. At the end of 2019, the Federal Reserve reported it is 70% of household debt.

#6 Natural Disasters – Unexpected disasters such as floods, tornadoes, hurricanes, and earthquakes can cause catastrophic damage to lives and property.

#7 Divorce – Can result in financial hardship for all family members including loss of property, legal expense, child support, and alimony.

#8 Late Life Crisis – The retired, aging, and elderly can increasingly suffer from the inability to perform normal basic life tasks, medical issues, and low income without necessary assistance.

#9 Loans – Vehicle payments and other misc. loans can be among the top 10 reasons people file for bankruptcy, also.  Although student loan debt is difficult to discharge in bankruptcy, many people might file for bankruptcy to eradicate other debt so they can afford their student loan payments.  investopedia.com

#10 Credit Crisis – Overspending on credit cards can lead to a bankruptcy for those who try to mitigate another financial crisis by using credit to survive.  Although, in recent news the U.S. Supreme Court ruled debtors cannot use the bankruptcy process in fraud used against them.  U.S. Supreme Court says bankruptcy can’t nix debts for others’ frauds | Reuters

Credit Monitoring Services Can Help Prevent a Crisis

IdentityIQ is proud to offer protection not only for you, but also your children living in your household as well. By protecting your family’s credit, you can have peace of mind while you enjoy more time with them.  IdentityIQ technical services will ‘keep watch’ 24/7 monitoring credit reports, score change alerts, dark web criminal tracing, and 20+ other benefits – find out more here!

Be sure to protect your financial health and future. Our customer service team is here in America to help you with professional direction and assistance.  Give us a call! https://creditmonitoringservices123.com

If you are reading this article, you are likely one of the legions of timeshare owners that need to get out of their contracts. You don’t want to pay monthly maintenance fees for the rest of your life. You don’t want the pressure that comes with having to take vacations (which should be restful) with a certain company, subject to that company’s rules.

Lots of people want the same thing you do. So many, in fact, that there are a lot of companies offering timeshare exit services. These companies know that canceling a timeshare on your own can be hard at the best of times. They offer to handle the situation for you, making it easier and potentially more successful. Not all exit companies are created equal though.

The now-shuttered Timeshare Exit Team provides a cautionary tale of what can happen when you work with a company that isn’t reputable. Their Better Business Bureau (BBB) rating of F and a lawsuit filed by the Washington Attorney General shed light on the ways this company victimized unhappy timeshare owners. Let’s take a deeper look.

A Brief History of Timeshare Exit Team

Timeshare Exit Team: Articles of Incorporation document

The Washington Secretary of State’s records show that Timeshare Exit Team — first called World Travel Seattle LLC — was formed by Brandon Reed in 2012 in Kirkland, Washington. The next year, Trevor Hein changed the name of the company to Reed Hein & Associates LLC. Timeshare Exit Team advertised itself as a company that helped people exit unwanted timeshares.

According to the Washington State Attorney General’s Consumer Protection Division, Timeshare Exit Team represented that it could force resorts to take back timeshares. At the start of the lawsuit, though, Washington alleged that only about half of the requested exits had been accomplished. There was also concern that the exits accomplished may not have been proper, leading to foreclosure and other legal problems for timeshare owners.

How Did This Happen? A Tale of Inexperience, Bad Endorsements, and a Huge Lawsuit

Stressed woman signing a document

According to the publicly filed allegations of the Washington Attorney General, Timeshare Exit Team itself did not have any prior experience in the timeshare industry. Before starting Timeshare Exit Team in 2012, Hein and Reed sold rain gutter systems.

When one looks at the history of this company and its failures, the “why” of this disaster becomes much clearer. As we’ll see below, Timeshare Exit Team had a number of serious problems with their business that were magnified by an ill-considered commercial endorsement. When these problems were exposed by the state of Washington, Timeshare Exit Team was forced to start making amends.

1. Timeshare Exit Team’s Alleged Poor Business Practices

Hein and Reed’s lack of experience in the industry made them ineffective at securing releases for their clients. Simply, they didn’t have the inside knowledge of the industry that it takes to achieve a successful exit. Perhaps realizing their lack of experience, Timeshare Exit Team’s business model matched unhappy timeshare owners with “vendors” who had more experience, but perhaps not the experience those particular owners needed.

For example, if a timeshare owner needed to file a lawsuit to get out of an unconscionable contract, Timeshare Exit Team would contact an attorney who would then represent the timeshare owner. It does not appear that Timeshare Exit Team had any control over the vendors it selected to help timeshare owners.

Some of the exit practices were legally risky. For example, some timeshare owners were allegedly advised to stop paying maintenance fees and mortgages, or even to ignore communications from timeshare resorts and homeowners’ associations (HOAs). This then resulted in foreclosure proceedings against timeshare units, causing more legal problems for timeshare owners.

One of the biggest problems with the Timeshare Exit Team model was their huge upfront fees, which were sometimes tens of thousands of dollars. Timeshare Exit Team did offer a money-back guarantee for its services. But according to BBB complaints, people often had difficulty getting these refunds, when they did get them at all. Communication shut down, the website was shuttered, and people were left out in the cold.

2. A High-Profile Endorsement from Dave Ramsey Elevated Timeshare Exit Team and Gave Them Access to More Timeshare Owners

Despite their lack of qualifications, Timeshare Exit Team scored a big endorsement from media personality Dave Ramsey, host of a popular financial advice program. The mention of the company on the Dave Ramsey show was acknowledged as Timeshare Exit Team’s “most profitable endorsement.”

Ramsey’s words would turn out to spell catastrophe for desperate, vulnerable timeshare owners. It opened the way for even more of them to find their way to Timeshare Exit Team, which hurt even more people, necessitating the lawsuit filed to the Washington Attorney General. Though it should be noted that Ramsey later walked back his endorsement, by that time the damage had already been done.

3. The State of Washington Achieved Some Justice for the Timeshare Exit Team’s Wronged Customers

Initially. Reed Hein viciously fought the Washington Attorney General’s lawsuit, denying the allegations and accusing the state of Washington of helping the timeshare industry with its lawsuit.

In September of 2021, however, the Attorney General reported that Reed Hein would pay $2.61 million to provide restitution to people who were harmed by Timeshare Exit Team as well as pay legal expenses. As part of their settlement with the state of Washington, Reed Hein agreed that they would pay $19 million more if they violated the terms of the settlement.

Most shocking was Reed Hein’s agreement to publicly apologize for its words and actions during the lawsuit, including its implication that the attorney general’s lawsuit was done at the behest of the timeshare industry.

The story of Timeshare termination team, the lawsuit, and the settlement should serve as a warning to any timeshare owner thinking about an exit. Flashy soundbites from people like Dave Ramsey are not enough to guarantee that a company will do a good job. Look at the company’s history, experience, and what its clients say about it before signing on the dotted line.

Timeshare Exit Team had a reputation for charging exorbitant fees upfront, with little or no results. (It also advertised a money-back guarantee that also turned out to be deceptive and was a big part of the lawsuit allegations against it.)

A good timeshare exit company will give you more payment options and won’t pressure you into turning over a huge chunk of money at the outset. Centerstone Group, for example, offers long-term financing and an escrow option that can help ease your financial pain.

How Centerstone Group Is Different

Entrepreneurs discussing a contract at a meeting

For its part, the American Resort Development Association (ARDA) appears to have learned exactly the wrong lesson from the Timeshare Exit Team lawsuit and attempted to paint all timeshare exit companies with the same broad brush, disingenuously implying that all exit companies are timeshare exit scams and urging customers to talk to the management of their timeshare resorts about problems with timeshare ownership.

Given that the timeshare developers are the ones who caused the original problem, you should be extremely skeptical of their “advice.” Not all exit companies are the same. Centerstone Group has a fantastic record with the BBB. Even a quick look at our reviews and rating, for example, shows ethical business practices that work for its growing legion of satisfied clients.

First and foremost, Centerstone Group’s professionals have over 33 years of combined experience in the timeshare industry. Though an unwanted timeshare problem can seem like uncharted waters for most people, rest assured that we have probably seen it before.

Centerstone Group also has a unique three-pronged approach to ensure maximum chances of success in getting rid of your unwanted timeshare. First, it enters into a pressure campaign that involves both direct contact and smart use of social media to change a developer’s position. Sometimes, a pressure campaign can even include government regulatory complaints.

At the same time, Centerstone Group will see whether you qualify for a transfer process with a receiver. In the context of timeshare exit cases, a receiver is a person who takes over the financial and other obligations associated with your timeshare during the exit process. This particular feature of Centerstone Group’s strategy gives you peace of mind and control over your situation.

Finally, Centerstone Group realizes that some timeshare exit cases are going to be more difficult than others. Particularly contentious cases may require the aid or opinion of a lawyer. The most complicated may involve a lawsuit seeking a contract rescission or to address fraudulent behavior by your timeshare developer.

In these complicated cases, Centerstone Group has access to capable real estate attorneys who help you through your timeshare exit procedure. Unlike a company that simply drops your case off with a law firm and forgets it, Centerstone Group works in tandem with established law firms. They pursue parallel strategies at the same time to maximize your chances of success.

In the world of timeshare contracts and exit strategies, one size does not fit all. Centerstone Group will take the time to understand your specific contract and situation, then tailor our proprietary strategies for you.

You can always come to us for a free consultation to get solid information about your exit options. Then, we’ll help you use that information to make the best decision possible.

There are a number of advantages to playing slot online Indonesia. The games can be played for free, and you can also earn some great prizes. However, if you want to be a big winner, you should know that you must know how to win the most money. Below are some tips that can help you win the most money. Once you learn how to win, you can start playing slots online. Hopefully, this article has provided you with useful information.

First of all, you should always be aware of the payout percentages for the games you play. While free online games do have their limitations, it is still a good idea to read the rules and regulations of each game before you begin playing for real money. You should also decide how much you can afford to lose and how long you’d like to play. Make sure to consider the payout percentages of the games so that you can make the best choice.

Another advantage of playing slot online in Indonesia is that you can win deviden, jackpot, and bonuses. Moreover, if you’re a beginner, you can still play this game without any problems. A good slot machine is a good choice for you whether you’re a first-time player or a seasoned veteran. The jackpot slot is one of the most popular online Indonesian casinos. There’s a lot of money to be won in this game.

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Home furniture shops are not quite difficult to choose. 1st you will have to examine on the type of your home, before you can acquire any furniture. This will assist you make some easy decisions about the furniture you have to choose, so that it blends with the architecture of the property.

Following you will have to make a budget for the type of furniture that you will want to acquire. You might be transferring into a new house, and you will want new furnishings. So appropriately you can plan the funds. The Viva Mart will not have to buy it all at the very same time. You can pick the household furniture from the shop and acquire it in more than a number of months if you must.

Before acquiring or picking a home furniture retailer, you can do some investigation on the Net, about all the merchants in your region. You can then compare prices, and also the solutions of every retailer just before selecting 1. Most of the reputed shops will also have web sites that you can search by way of.

Good household furniture merchants will have photos and catalogues of all the furniture they have. If you want to area an purchase on the internet, first contact and verify if the firm is legitimate. You also require to make confident that the websites are secure, so that your credit rating card payment is risk-free, and no identification theft can come about.

If you are picking a excellent home furniture shop, you must also make confident that they have a staff to aid you with the installation. Some furnishings sets will have to be established up with experts, and therefore the precaution. It is also clever to select a furniture shop that is really near to the region you live in.

You will also want to select a household furniture shop that has all types of furniture. This will allow to make the options, and also to be in a position to select from a equivalent assortment of design, when it will come to the furnishings. See to it that the retailer is quite buyer pleasant, and provides you all the solutions that you need.

If you have busy schedules, it does not make a difference, as most household furniture shops are open up on all days of the 7 days. In a worst-situation scenario, you can also get for the household furniture on the internet from a great online furnishings shop. The World wide web has manufactured existence less difficult for all of us, and you only have to buy the furnishings from the ease and comfort of your property.

Whether it is setting up an workplace or a property, most furnishings outlets you choose will have all the required home furniture and also accessories accessible for you. You will also have to go to a keep if you are especially want to established up your home in a certain fashion. Some stores will not have the type of furnishings you are searching for, so it is best to prepare initial and then go home furniture buying.