Finance Debt – Thunder From Under http://thunderfromunder.com/ Mon, 27 Dec 2021 19:45:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://thunderfromunder.com/wp-content/uploads/2021/04/thunder-from-under-icon.png Finance Debt – Thunder From Under http://thunderfromunder.com/ 32 32 How Financial Advisors Can Help With Debt https://thunderfromunder.com/how-financial-advisors-can-help-with-debt/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/how-financial-advisors-can-help-with-debt/

Financial advisers can be of great help in controlling debt. They are experts at helping their clients prepare their finances for today and for the future. They can provide several services, such as investment management, tax return preparation and estate planning.

Planning a budget

Manager debt is a key part of how a financial advisor can help you plan for a healthy financial future. A person overwhelmed with debt is like a person bleeding from an open wound: the first step is to stop the bleeding. A trusted advisor can map a client cash flow and identify existing and potential problem areas.

The client should bring all relevant documents to the meeting to ensure that your advisor gets the full picture. This includes bank statements, credit card bills, installment loan statements, pay stubs, tax returns in recent years and any other element that may have an impact on your financial situation.

Some people may feel that it is intrusive and hurtful that someone they just met criticizes their past spending habits and financial decisions. In order for the meeting to be productive, a client must recognize that he or she may be faced with hard truths.

Once the client clears this hurdle, the financial advisor can write a new balanced budget that covers the essentials without taking on more debt. This usually involves cutting back on all unnecessary spending, so that any excess funds are available to pay off existing debt.

Debt analysis and restructuring

There are many types of debt. Some are relatively benign, such as mortgages, with their low interest rates and full tax deductibility, while others are downright toxic, like high interest credit cards and offender accounts generating penalty fees in addition to exorbitant interest.

After analyzing the debt held by the client, the financial advisor can begin to prioritize the client’s debt repayment strategy. The most expensive and overdue accounts go at the top, while the smallest go at the bottom.

For example, if a client has $ 600 per month to pay off an existing debt in the new budget, most of it should be spent paying off the debt with the most additional costs. It is also important to continue to make minimum payments on low interest rate accounts so that they do not revert to delinquent status and start accumulating penalties.

The financial advisor also examines the options for restructuring the debt into more advantageous options. For example, a homeowner with equity in their property may be able to take out a second mortgage and use that money to pay off three credit cards at once. The lower interest rate on the second mortgage would allow the homeowner to pay off a portion of the new principal each month instead of just tracking interest payments. Be prepared to handle communications and outreach yourself. Most financial advisers simply advise their clients what to do, leaving the work to each person. ask for debt relief. Most often, customers are looking for a debt relief or settlement company to manage their debts.

Another advantage of controlling debt levels is that the customer credit rating suffers each month that they have high balance or delinquent accounts. As the new budget comes into effect, the accounts become current and the balances gradually decrease. Their credit score increases as a result, which opens the door to renegotiated terms with creditors (at lower interest rates) and may even reduce seemingly unrelated items like insurance premiums.

The goal is not always to pay off the debt as quickly as possible. The financial advisor will help determine priorities.

Create a long-term plan

The goal of meeting with a financial advisor is not necessarily to help the client pay off all of their debt as quickly as possible. While the initial goal is debt reduction, there are often other considerations that arise once the immediate fires are extinguished. While every situation is different, it is the job of the financial advisor to take a holistic view to establish a long term plan tailored to the specific needs of each client.

For example, a person with dependents may need life insurance to support them in the event of premature death. The financial advisor may recommend paying off a few high interest accounts first and foremost, then slowing down the debt payments to start a solid life insurance policy. Your next step may be to open a retirement savings account after a few more debts are fully paid off.

The client should leave the meeting with a written plan that explicitly states the recommended course of action. Ideally, the financial advisor should provide milestones to check and red flags to watch out for so the client can check their progress and quickly spot any potential missteps.

How to find a good advisor

The decision to hire a financial advisor is not a decision to be taken lightly. Make sure the person is certified to give financial advice. The best bet is to look for a Certified financial planner (CFP). A Chartered financial advisor (ChFC) have less education, but they are also well versed in personal finance and insurance.

Find an advisor who is an active member of the National Association of Personal Financial Advisors (NAPFA) is also good practice. This indicates that he is a paid adviser, meaning there is no bribe of any kind that could bias his advice.

Your financial advisor should also be a trustee. This means that they are obligated to act in your best interests at all times. A person can be a financial professional and know all about money, but if they are not a fiduciary, you will have less protection on the advice you receive.

It might seem like a minor detail, but it could be the difference between getting advice to pay off a 25% interest credit card or starting a brokerage account at $ 200 per month. The latter may technically not be an unsuitable and therefore not bogus product, but a trustee would in all likelihood recommend paying off high interest debt before making new investments.

Refine your list of local counselors by asking for referrals from around you. Start by talking to friends and family who have received help with paying off their debts in the past. A tax preparer is sure to know several financial advisers as well.

How advisors are paid

The immediate goal being debt management, the compensation structure for a financial advisor should generally be an hourly rate. Commission advisers depend on the sale of insurance policies, investments, etc. which creates a clear conflict of interest. Percentage fees are less of a problem than commissions this way. Advisors using this system are typically paid 1% per annum of the asset portfolio. It might make sense for a millionaire looking for help managing their wealth, but it means slim choices for the advisor helping someone drowning in debt.

The bottom line

Americans are burdened with debt. Consumer debt in America is approximately $ 14 trillion. Many people want to get out of debt, but their finances are so out of control that they don’t know how to go about it, making decisions that often lead to more debt.

Hiring a financial advisor to help you write a debt reduction strategy and a financial plan for the future is a hugely beneficial way to get your debt under control. Their knowledge and experience will help you find the right path to financial freedom.

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Hours of Buenos Aires | As IMF negotiations bog down, Argentina bonds dip to 30 cents https://thunderfromunder.com/hours-of-buenos-aires-as-imf-negotiations-bog-down-argentina-bonds-dip-to-30-cents/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/hours-of-buenos-aires-as-imf-negotiations-bog-down-argentina-bonds-dip-to-30-cents/

Six months after Argentina emerged from default, its new bonds have fallen to just 30 cents on the dollar.

The depressed price is, in fairness, in part the result of the basic mechanics of the securities – they carry artificially low interest rates and a generous grace period – but it also reflects a grim reality that is gripping the stocks. creditors: the IMF’s agreement that the country desperately needs is a long way off.

Without this deal, and the fresh capital it could bring, Argentina’s pandemic-ravaged economy will remain sluggish and its finances so precarious that a default – the country’s fourth in this century – will become almost inevitable when bonds will begin to expire. At today’s prices, bonds are trading more than 1,500 basis points, or 15 percentage points, above US Treasuries.

“Argentina is in a mess,” said Chris Marsh, a former IMF economist who is now a senior adviser at Exante Data in London. “They just restructured their debt, and yet the reality is they can’t afford to pay it off.”

As lenient as the terms of that deal were, there was still not enough debt forgiveness, given how badly the economy was rocked by the pandemic, Marsh said.

Following the deal, the left-wing government of President Alberto Fernández began negotiations with the International Monetary Fund to restructure a $ 45 billion loan and strike a deal that could include new financing. The administration had said it wanted an agreement signed by May. But six months after talks began, little progress has been made, and Fernández recently said he was in no rush to get a deal.

The mid-term legislative elections in October only further cloud the outlook. Investors fear the government is reluctant to agree to unpopular fiscal austerity measures that should be part of any deal.

That bond prices fall even in the middle of a ascend The price of soybeans, the country’s largest export, shows how pessimistic investors are about the prospects for South America’s second-largest economy, which contracted by around 10 percent in 2020. They’re focusing on an inflation rate expected to reach 50 percent, single-digit double unemployment and a budget deficit that swelled last year to its highest level since at least 1993.

Argentina defaulted in May for the ninth time in its 200-year history. With air travel stopping amid the pandemic, government officials and creditors have disclosed details of the restructuring via Zoom calls. The deal gave Argentina about US $ 38 billion in debt relief over the next 10 years, delayed principal payments until 2024, and lowered initial interest rates to 0.125% .

Still, new bonds have only fallen steadily since they started trading in September, losing 33% of their value and leading Morgan Stanley to dub them the worst rout in the aftermath of debt restructuring in at least 20 years. A group of creditors called the country’s debt markets a “virtual void.”

At the root of investor pessimism lies uncontrollable spending without a realistic plan to contain it. Argentina’s money supply exploded last year when it ran printing presses to fund pandemic aid. Money growth has slowed, but foreign currency controls restrict access to the dollar, forcing companies to restructure their debts.

Armando Armenta, emerging markets strategist at AllianceBernstein, says the prices show bond investors are underestimating the government’s ability to improve fiscal and external accounts, even without a deal with the IMF.

“The macroeconomic and financial instability of delaying the deal can also be politically costly for the government ahead of the elections,” Armenta said. AllianceBernestein owns Argentinian bonds and participated in recent restructuring negotiations.

This is a minority view, however. Robert Koenigsberger, chief investment officer at Gramercy Fund Management and longtime Argentine bond holder, captures the sentiment of consensus when he worries about the government’s lack of time to close a deal. Amid the pandemic, the IMF is showing signs of being more lenient in its demands for fiscal austerity, Koenigsberger said, but that goodwill will not last long.

“Argentina must be careful not to miss this opportunity,” he said.

by Scott Squires & Jorgelina do Rosario, Bloomberg

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The Best Way To Spend Your $ 1,200 Stimulus Check, According To Financial Advisors https://thunderfromunder.com/the-best-way-to-spend-your-1200-stimulus-check-according-to-financial-advisors/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/the-best-way-to-spend-your-1200-stimulus-check-according-to-financial-advisors/ Federal government set to send millions of adult checks starting this week as part of massive $ 2.2 trillion stimulus bill aimed at supporting an economy reeling from the epidemic coronavirus.

As Americans waited for their money, #stimulusdeposit appeared on social media. Once people receive their stimulus money, they will have a simple and serious question: How should I use it?

See also:Will you receive direct payment on the $ 2,000 billion bill passed by the Senate on Wednesday? Depends on how much you earn

Advisors say they would fill their funds for the rainy days first, pay off their debts, and then invest or give their money prudently.

The choice can be painfully clear for many who need cash now for their necessities because they have been laid off from cash-strapped businesses. A record number of Americans have filed for unemployment as more than 16 million jobs have disappeared in less than a month.

For those who still have jobs, how should they use their money, especially at a time when up to 37 million jobs could be at risk?

Over 20 financial advisors told MarketWatch how they would use the money and what advice they gave to clients. The advisers said they would fill their funds for the rainy days first, pay off their debts afterwards and – very cautiously – invest. But what about all the others?

Here’s a look at what some advisers said others should do with their stimulus checks.

Emergency fund accounts

“I would immediately put this money into my emergency fund account, which is in a high yield online savings account,” Jovan Johnson, founder and CEO of Piece of Wealth Planning in Atlanta, Georgia. Some online savings accounts may offer annual percentage return up to 1.70%.

A rainy day account should cover three to six months of expenses, Johnson said. It means money for rent, mortgage, and utilities. Average rent was $ 1,468 in February, according to a spokesperson for RENTcafe.com, an online real estate listing site.

Don’t miss:You Can Now ‘Practically Steal’ Quality Stocks, Jefferies Says

In December, homeowners were paying $ 833 in interest and principal per month at a 30-year rate on a home with a median price of $ 225,723, according to CoreLogic. This figure does not include the varying amount of property taxes that might be added to a monthly bill.

The fund is also expected to set aside between $ 120 and $ 200 for gas per month, $ 400 for groceries for a family of four and $ 1,000 for tires and car expenses, Johnson said. Finally, the fund should also have enough to pay the annual limit on direct health spending, he said.

“If you’re sure you’re not going to be fired anytime soon and don’t have contingency funds, you should put it there and start building it with every paycheck in the future,” said Tara Unverzagt of South Bay Financial Partners. in Torrance, California. “You could be next – be prepared. “

Also read:6 Ways to Help Others During the Coronavirus Outbreak – “Everyone is a stakeholder in this crisis”

Spend it (in debt)

If someone is comfortable with the size of their fund for a rainy day, several advisers advise paying off debt, especially credit card debt. Americans owed $ 930 billion in credit card debt in the fourth quarter of 2019, according to the Federal Reserve Bank of New York.

“Paying off credit cards would be a great way to get an immediate guaranteed return. “


– Chris Chen of Insight Financial Strategists in Newton, Mass.

“Paying off credit cards would be a great way to get an immediate guaranteed return,” said Chris Chen of Insight Financial Strategists in Newton, Massachusetts.

However, Chen said he will not be spending it on student debt yet, as he will wait to see what other action lawmakers take regarding student debt relief.

Indeed, after MarketWatch spoke with Chen, the federal government, the lender behind the majority of student loans, said borrowers can suspend payments for six months and is waiving the loan for the time being. the collection of interest on loans.

See also:$ 2 trillion coronavirus stimulus bill lets some student loan borrowers delay payments for six months

When deciding how to pay off debt, Nick Reilly, founder and senior advisor at One Day in Seattle, Wash., Said the focus should be on credit card debt, especially those with higher interest rates. of 8% and more. This mainly consists of credit card debt, he noted. In November, the average annual rate on a credit card was 14.87%, according to Federal Reserve information.

Invest it (with care)

If the emergency funds are topped up first, the debts are paid off, and you have the stomach and the experience, some advisers have said there could be good investment opportunities waiting.

“I would definitely invest it in stocks because I am a long-term investor. Shares are down about 32% from all-time highs and it’s important to slowly start enjoying it, ”wrote Silvia Manent, founder and managing partner of Manent Capital in Boston, in an email to MarketWatch. One method would be to invest small amounts on a weekly, bi-weekly or monthly basis, she said. “We can have more inconvenience from here (no one really knows that) so it’s important to be careful.”

“I would look for an ETF that offers exposure to as many industries as possible.”


– Eric Powell, founder of The Future Mill in Lakeland, Florida.

In Encino, Calif., Stephen Rischall, financial adviser at Navalign, said if he got a check he would put it “in good companies that I think are already benefiting, to some extent, from this pandemic – think virtual learning and business cloud infrastructure, e-sports and video games, and grocery stores.

Others said they would not choose stocks.

“I would look for an ETF that offers exposure to as many industries as possible,” said Eric Powell, founder of The Future Mill in Lakeland, Florida. “This provides an opportunity for growth going forward, but also offsets the risk of buying into individual companies that may file for bankruptcy. A good way to spread risk and diversify at low cost is to look for a replicating ETF. an index like the S&P 500 SPX,
+1.78%.

Donate it (if you can afford it)

Of course, those who could afford it said they would donate their stimulus money.

“Many hourly workers – retail salespeople, restaurant staff, nail technicians, hairdressers – have seen their incomes disappear virtually overnight, but their financial obligations have not gone away and the stimulus checks will not meet their needs. ‘gap very long, “said Melissa. Brennan, Financial Planner at ARS Private Wealth in Plano, Texas.

See also:6 Ways to Help Others During the Coronavirus Outbreak – “Everyone is a stakeholder in this crisis”

Food banks and other charities will see an increasing demand for their services, she noted. “All nonprofits are going to see demand for their services increase, but their budgets were set before the start of the pandemic. “

“If you have kept your job and have adequate emergency funds, you may want to consider donating a portion of the stimulus check to help those who are not as fortunate as you are. “said Doug Garrison, Senior Wealth Advisor at Investec Wealth. Strategies in Houston, Texas. “Times like this call for compassion and solidarity. ”

This story was updated on April 13, 2020.

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John Podesta: Coping with climate and biodiversity crises in a post-pandemic world https://thunderfromunder.com/john-podesta-coping-with-climate-and-biodiversity-crises-in-a-post-pandemic-world/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/john-podesta-coping-with-climate-and-biodiversity-crises-in-a-post-pandemic-world/

John Podesta addresses the Fifth Session of the United Nations Environment Assembly to address interconnected global threats to our climate, biodiversity, economy and human security. He spoke of the need to act comprehensively, globally and immediately to protect 30% of the United States’ land and coastal seas by 2030 and to partner with developing countries to increase bilateral aid, financing and debt relief, including debt cancellation.

Transcription

I would like to thank UNEP for the invitation to speak. Excellencies, we are meeting at a critical time. The world is currently grappling with a confluence of crises:

  • The global economic crisis which resulted in
  • The accelerating climate crisis
  • And the crisis of nature which threatens with extinction an eighth of the planetary species, many of them in a few decades

As the UNEP report “Making Peace with Nature” points out, these crises are interrelated and governments, businesses and civil society must respond with solutions that recognize this. The United States will again play a major role in this regard. President Biden has said climate change is a critical part of his US economic and foreign policy. He brought the United States back to the Paris Climate Agreement. He pledged to protect 30% of the country’s land, water and oceans by 2030, and he also announced that he would host the Climate Leaders’ Summit on April 22.

All of these steps come at a critical juncture.

As UNEP Executive Director Inger Andersen has pointed out, the COVID pandemic was caused by extreme natural destruction, which has increased the likelihood of the spread of zoonoses to humans.

This, in turn, has heightened our challenge of dealing with the biodiversity crisis and the climate crisis. A negative turn in one of these crises probably means a negative turn in each of them, and that is what we are seeing now.

Our lands are under stress. Our oceans are stressed. Nature is stressed to a breaking point. If we are to raise the bar, we need to set biodiversity targets alongside climate targets as part of the global economic recovery, including protecting 30 percent of land and oceans by 2030. We need to consider these problems as interconnected, where success is only possible if we address all of these components simultaneously. And the effort must be global. The reach of COVID has shown that anything that is not comprehensive international cooperation is insufficient and that the most vulnerable will continue to suffer.

Nonetheless, I see two reasons for optimism.

One: The Sustainable Development Goals provide a fair, sustainable and climate-sensitive framework on how governments, the private sector and civil society can work together to address these crises.

And two: There is a global recognition of the challenges we face:

  • The G7 countries have all committed to net zero; like the majority of G20 countries
  • Businesses, financial institutions and consumers are all pushing for net zero liabilities and nature conservation
  • And young people around the world are using their voices to advocate for fair and just solutions

To capitalize on this consensus and build political momentum, the first priority must be to rebuild better infrastructure with sustainable goals in mind.

We cannot face climatic and natural crises without moving away from polluting infrastructures.

As the Secretary-General’s High-Level Panel on Post-2015 Goals, of which I served, noted five years ago: we need a transformation, a new spirit of solidarity , cooperation and mutual accountability based on our common understanding of our shared humanity.

Excellencies, in 2021 we must turn this spirit into action. Thank you.

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VA suspends collection of health care benefits and debts https://thunderfromunder.com/va-suspends-collection-of-health-care-benefits-and-debts/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/va-suspends-collection-of-health-care-benefits-and-debts/

Veterans indebted to the Department of Veterans Affairs will not see their benefit checks cut – yet. Recognizing that many veterans and their families have been affected by job losses due to the COVID-19 pandemic, VA has decided to extend debt relief. Some debt collection actions have been suspended.

“Veterans and their families should focus on their health and safety during the pandemic. VA is taking action to give those with outstanding debt greater flexibility during these difficult times, ”VA Secretary Robert Wilkie said. Affected veterans will have the choice of accepting the suspension of collection or the extension of the terms of repayment of pre-existing debts.

Veterans with benefit-related debts should contact the VA Debt Management Center at 1-800-827-0648. For health care debts, veterans should contact the Health Resource Center at 1-866-400-1238 or visit https://www.pay.gov.

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Stay Safe From Scammers: Tips From The Better Business Bureau https://thunderfromunder.com/stay-safe-from-scammers-tips-from-the-better-business-bureau/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/stay-safe-from-scammers-tips-from-the-better-business-bureau/

Are you buying more online now? It is convenient. It’s quick. But is it safe?

The Better Business Bureau (BBB) found that online shopping scams have been in the first three types of scams since 2017. With This year social distancing at limit exposure, and many companies previously closed and now slowly reopening with limited hours, many consumers are turning to online shopping for home delivery. Corn predators are profiting from this increase in online shopping.

BBB reports that in 2020 so far, 64% of reported scams come from online shopping, with a staggering 80.5% of consumers reporting they or they lost money of these scams.

What is an online shopping scam?

Online shopping scams typically involve purchasing products and / or services through a website. Scammers come up with attractive offers, corn no product/the service is provided once payment has been made. Or crooks pretend to buy an item, but then send a fake check and request reimbursement of the “accidental” overpayment.

Outsmart the crooks with prevention tips

BBB useful offer information and advice to stay safe from online shopping scams and many other types of scams, like scams for rental, employment, credit card and debt relief, tax collection, health care, and identity theft.

Tfr Tips to protect against most scams

  1. Never send money by gift card or wire transfer to someone you’ve never met in person.
  2. Avoid clicking on links or opening attachments in unsolicited emails.
  3. Don’t believe everything you see.
  4. Make sure your online purchase is secure before paying.
  5. Be extremely careful when dealing with someone you have met online.
  6. Never share personally identifiable information with someone who has contacted you in an unsolicited manner, whether by phone, email, social media, even at your doorstep.
  7. Resist the pressure to act immediately.
  8. Use secure and traceable transactions.
  9. Where possible, work with local businesses.
  10. Be careful what you share on social media.
Find more advice at the Better Business Bureau

BBB offers a scam tracker to find local scams in your area, a way to file a complaint, and one weekly Scam alert E-mail to stay up to date on the latest tips and tricks from scammers to stay ahead of them.

Protect your health. Protect your family. And guard against crooks.


Sharing any non-VA information does not constitute endorsement of any products and services by VA.

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Five Ways VA Is Supporting Rural Veterans During COVID-19 https://thunderfromunder.com/five-ways-va-is-supporting-rural-veterans-during-covid-19/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/five-ways-va-is-supporting-rural-veterans-during-covid-19/

VA is committed to providing high quality health care to Veterans, including those living in rural areas, during the coronavirus pandemic and beyond.

While COVID-19 has affected the lives of all Americans, the challenges facing rural communities during the pandemic leave residents particularly vulnerable. Almost 5 million of our country’s veterans live in small communities.

In recognition of the 10th annual National Rural Health Day, VA’s Office of Rural Health (ORH) highlights the resources available to support the health and well-being of all who inhabit a rural community.

Ensure continuity of care for veterans

As the nation’s largest telehealth provider, VA is equipped to virtually connect veterans with the care they need. Telehealth offers a convenient alternative to in-person care that reduces veterans’ COVID-19 exposure and travel time. To meet the unique health care needs of rural veterans, ORH funds a variety of telehealth programs, such as tele-intensive units, tele-primary care, and tele-mental health centers.

An overview of the VA coronavirus response in rural communities.

Provide free training and resources to community providers, including those in rural areas

As part of VA’s fourth mission efforts to combat transmission of COVID-19, the department expanded health care services and resources to non-veterans and community providers, resulting in:

  • Over 8,000 contact hours of COVID-19 webinar training
  • Over 2,000 VA staff supporting non-VA facilities
  • A with tailored COVID-19 advice for community providers

Prioritize mental health in rural communities

Mental health and suicide prevention resources help save lives. These tools are especially critical for rural veterans. They face a 20% higher risk of suicide than their urban counterparts.

To enhance VHA’s ongoing awareness to all veterans, ORH is funding a company-wide initiative that focuses on suicide prevention. In fiscal 2020, this program expanded to 12 locations that collectively reached over 101,000 Veterans.

Suspend Debt Collections for VA Medical Care

In recognition of the economic impact of COVID-19, VA has suspended medical debt collection until December 31, 2020. This temporary debt relief can be particularly impacting in rural communities. More than half of rural veterans earn less than $ 35,000 a year. VA also has financial hardship programs to help veterans who may be struggling to settle debt collections.

See Recent updates to VA debt collection policies under COVID-19.

Develop innovative tools to support the VHA workforce

The Veterans Health Administration (VHA) is committed to equipping its staff with the appropriate tools and resources to provide high quality health care to our country’s Veterans and members of the community.

In response to the pandemic, VHA developed the COVID-19 Rural Health Decision Support Tool – a dashboard that provides mission-critical information that allows users to examine key trends and predict future challenges. By expanding access to life-saving resources, training, and medical supplies, VA continues to support all providers and the Americans they care for during the pandemic, regardless of their veteran status.

Support

If you are a veteran in a crisis or are concerned about a veteran, free and confidential support is available 24/7. Call the Veterans Crisis Line at 1-800-273-8255 and press 1, text 838255 or chat online.

For frequently asked questions to veterans about COVID-19, visit: https://www.va.gov/coronavirus-veteran-frequently-asked-questions/

For more information on COVID-19 mental health resources, visit: https://www.mentalhealth.va.gov/coronavirus.

To learn more about ORH, visit: https://www.ruralhealth.va.gov.


Thomas Klobucar is Executive Director of the VA Office of Rural Health.

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Pakistan plans to ask China for debt relief for power projects (report) https://thunderfromunder.com/pakistan-plans-to-ask-china-for-debt-relief-for-power-projects-report/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/pakistan-plans-to-ask-china-for-debt-relief-for-power-projects-report/
  • Pakistan seeks debt relief from China’s power projects loan
  • China-funded power plants in Pakistan were originally intended to solve Pakistan’s electricity shortages
  • But the country now finds itself in a surplus it cannot afford

Pakistan is considering debt relief on Chinese loans taken to finance energy projects that Beijing has funded for the past eight years.

Pakistan is the latest developing country to struggle to repay its debt under President Xi Jinping’s Belt and Road Initiative, says Bloomberg report.

The publication says the two countries discussed easing debt repayment terms for a dozen power plants in informal talks. Islamabad has not yet made a formal request, according to the report.

Read more: Pak army becomes first foreign army to receive coronavirus vaccine donation from China

The parties examined Beijing’s willingness to stagger debt payments, rather than slash stock returns, a person familiar with the plan quoted in the Bloomberg report said.

The Chinese-funded power plants in Pakistan were originally intended to solve power shortages in Pakistan. But the country now finds itself in a surplus that it cannot afford.

China’s initiative-funded infrastructure projects in other developing countries, such as Sri Lanka and Malaysia, have suffered from problems ranging from heavy debt to corruption.

A spokesman for the Chinese Foreign Ministry said he was not aware of Pakistan’s plan to seek debt relief.

Read more: Sindh plans to buy 20 million doses of coronavirus vaccine directly from China

“The energy projects have provided Pakistan with a large amount of stable and low-cost electricity, effectively reducing the overall price of electricity in Pakistan,” the spokesperson said in a written response.

“China-Pakistan energy cooperation has progressed smoothly and brought real economic and social benefits,” the response said.

Pakistan’s power division made no comment.

The publication said China had previously denied US criticism that the initiative led to debt traps, while acknowledging that countries have had difficulty repaying loans due to the pandemic-induced global recession. .

Beijing last year canceled interest-free loans to 15 African countries that were due to mature in late 2020, and delayed other payments.

Read more: China launches forward warship for Pakistan (report)

Chinese financing of the Belt and Road in Pakistan has focused on the electricity sector.

The Belt and Road program found new life in Pakistan last year with the signing of $ 11 billion in projects, most of which went to renovate the country’s rail system.

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[CLOMUN] Senior calls for $ 60,000 Chapter 7 credit card relief – https://thunderfromunder.com/clomun-senior-calls-for-60000-chapter-7-credit-card-relief/ Thu, 11 Mar 2021 06:07:53 +0000 https://thunderfromunder.com/clomun-senior-calls-for-60000-chapter-7-credit-card-relief/

YOU never know what life brings. That is why you need divine protection from the adversities that life brings to us. I have told you many times to pray the Rosary and Psalm 91 for divine protection. We all need divine protection. We all know that we are all on this earth temporarily, just for a short period of time. When our time is up, we turn to dust. Only our skeleton remains. Death is the great equalizer. No matter how big or rich you are, you are no exception. You too, who might think that since you are someone special because you have great power or great wealth, you can escape death. We all know you are wrong. You are completely wrong.

But while we live and breathe on this earth, while we have the spirit of God within us, we all deserve to have a decent and happy life. I mean no one deserves to be homeless and live next door to 101 FWY. Everyone deserves decent housing, sufficient food and clothing, and deserves to be treated with respect, regardless of race, color or religion. This is enshrined in our Constitution, that all men are created equal. This does not say that some are more equal than others.

God fixed the lifespan of man at 120 years. In Genesis 6: 3 it says, “My spirit will not remain with man forever, for he is also flesh; nevertheless his days will be 120 years. So this is it. The oldest person in Europe is a 117-year-old nun. But she is already blind. She says she loves her life here on earth but is not afraid to die. She wants to see her siblings and grandparents who passed away before her. It’s just another way of saying that she already wants to go to heaven. For some reason, she’s not interested in seeing her parents again. I wonder why.

Speaking of the pandemic, I finally had my first shot of Pfizer last Saturday. I prayed the Rosary and Psalm 91 before and after the jab for divine protection against any adverse effects of the vaccine. I had no side effects. I felt a little tired the first day. But on the second day, I was back to normal. The staff were very efficient and very friendly. Literally it was like being at Disneyland, the happiest place in the world, in terms of friendliness and kindness. The whole process took about an hour from arriving at the parking lot, processing IDs, jab, and the 15 minute wait in the waiting area. They let you wait in the waiting area for 15 minutes in case you have an adverse reaction, they can try to reverse it. What is an adverse reaction? You pass out and stop breathing, for example, no kidding. So whether you have faith or not, you need divine protection. Pray the rosary and Psalm 91 before and after the jab for divine protection, okay? That works. If you still doubt Thomas, go to Nevers, France and see for yourself the divine power at work, then go to Lourdes, also in France and be amazed, kneel and tremble at the power and might of Almighty God. Your religious belief makes no difference.

Back to the client. She is almost 80 years old. His income was $ 100,000 a year until last year through a combination of jobs. Yes, she was exceptional in making money until last year when the pandemic hit. She lost three jobs, so now she only receives $ 2,000 in social security and about $ 500 in pension. Of course, $ 2,500 per month in retirement income is good. But she owes $ 60,000 in credit cards that require $ 1,800 in minimum monthly payments to be up to date. Well, that’s not good because his main income is Social Security $ 2,000. This consumes almost 100% of his social security. It’s as if she had her social security stolen when she retired. You don’t have to be a scientist to know the client is in dire financial straits. She shouldn’t be in this precarious situation at her age. It’s not good having to use your Social Security to keep your credit card masters happy when you’re 80, or any age for that matter, is it?

She still owns a business, which must be exempt under Chapter 7. Fortunately, she passes the exemption test. She keeps the business. She qualifies for Chapter 7 and doesn’t hesitate to choose Chapter 7 to clear her $ 60,000 in credit cards. She will make a new start in life at the age of 80. This is not so bad because, as the Bible says in Genesis, the human lifespan is 120 years. So if all goes well and she survives this pandemic, she still has 40 years left. It did not slow down in any way. She remarries in Bali right after getting her Chapter 7 discharge! How can she do that? This is because she already received her second dose of Pfizer last week and no side effects. Thank you to Blessed Mother Mary, God the Father, the Son, Jesus Christ and God the Holy Spirit!
If you need debt relief, please make an appointment to see me. I will analyze your case personally.

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DISCLAIMER: NONE OF THE FOREGOING IS CONSIDERED LEGAL ADVICE. EACH CASE IS DIFFERENT.

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Lawrence Bautista Yang specializes in bankruptcy, business, real estate and civil litigation and has successfully represented more than five thousand clients in California. Please call Angie, Barbara or Jess at (626) 284-1142 for an appointment at 20274 Carrey Road, Walnut, CA 91789 or 1000 S. Fremont Ave., Mailstop 58, Building A-10 South, Suite 10042, Alhambra, CA 91803.

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IMF welcomes progress in Sudan, calls for further economic reforms https://thunderfromunder.com/imf-welcomes-progress-in-sudan-calls-for-further-economic-reforms/ Thu, 11 Mar 2021 06:07:52 +0000 https://thunderfromunder.com/imf-welcomes-progress-in-sudan-calls-for-further-economic-reforms/

Adds details

CAIRO, March 8 (Reuters)The Managing Director of the International Monetary Fund (IMF) on Monday approved the first review of the Sudanese Staff Monitored Program (SMP) but called for customs exchange rate reform and more transparency on state-owned enterprises.

“The Sudanese authorities have made tangible progress towards establishing a solid record of policy and reform implementation – an essential condition for eventual debt relief,” an IMF statement said, citing an recent currency devaluation and the removal of fuel subsidies.

The IMF has warned that the economic situation remains “extremely fragile” in Sudan, where a deep economic crisis has resulted in inflation of up to 300 percent and shortages of basic commodities.

“The authorities should implement the reform of the customs exchange rate in a timely manner to increase income and competitiveness and avoid a return to distorting policy measures,” the statement said.

“Improved transparency and management of SOE operations are essential to mitigate fiscal risks and bring more revenue to the budget,” he added.

The IMF also called for the timely passage of a central bank law and the establishment of an independent anti-corruption commission.

(Reporting by Nayera Abdallah and Aidan Lewis; Editing by Lisa Shumaker)

((Nayera.Abdallah@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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