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this ex-con is a friend to all debt-rattled deadbeats


a convicted fraudster spends his days in a brooklyn courtroom steering deadbeats to lawyers in debt-collection cases that often get favorable rulings by controversial judge noach dear, the post has learned.and the ex-con, chaim pinkesz, helped put the jurist on the bench, sources said.pinkesz, 58, acts as a messiah-like figure in his orthodox jewish neighborhood, holding “office hours” in his home for debtors and others who need lawyers.pinkesz is part of the shmira neighborhood safety patrol, and keeps a scooter parked outside his borough park home where he also holds fund-raisers for political candidates and ran a charity to help single mothers.but behind the scenes, he has been accused in court papers of threats and harassment.lawyer alan rubenstein, who is embroiled with pinkesz in...






noach dear allows deadbeats to cheat debt: lawyers


controversial state supreme court judge noach dear managed to give himself a demotion — returning to a lower court two days a week where lawyers say he routinely allows deadbeats to cheat debt.on mondays and tuesdays, dear sits in the brooklyn civil court room he used to occupy before his election to the state supreme court and doles out his unique brand of justice.dear appears to be particularly popular among members of his own orthodox jewish community, who disproportionately seem to get their cases heard before him instead of other civil court judges.on three mondays when dear was on vacation in august, the courtroom was devoid of orthodox defendants. but they returned when the judge did on sept. 5.since another judge sits wednesday through friday, “orthodox cases before dear are ad...






u.s. debt is a huge problem that congress will find hard to fix


a friend once commented about her downsizing company, "you know things are bad at work when people start stabbing each other in the front." as the u.s. deficit has grown, the tone around the debt ceiling has gotten increasingly acerbic. there have been calls to let the u.s. default on its debt, which would undermine the u.s.' position as the global reserve currency. the intransigence of the political atmosphere today is best represented by the tea party republicans for whom fiscal discipline is paramount. the recent agreement on the debt ceiling debate that kicked the can to december created the political absurdity of members of congress voting against $15 billion in hurricane relief. but the debt ceiling debate itself is political farce masked as drama. congress approv...






the debt ceiling and hunter strickland, returning this summer with a vengeance?


the federal debt ceiling is a lot like san francisco giants relief pitcher hunter strickland.unlike strickland, the debt ceiling doesn’t possess the patience of job. the debt ceiling doesn’t hold grudges. the debt ceiling doesn’t command a 97 mph, four-seam fastball.but like strickland, the ceiling can trigger chaos when it’s ready. the debt ceiling lurks. sometimes years. you know generally when the debt ceiling’s coming. but you’re never quite sure. and when the debt ceiling arrives, well, pandemonium erupts in washington. the debt ceiling grooves some chin music, backing the hitter off the dish. that’s usually enough to touch off a political fracas in the sweltering dog days of summer.strickland waited. 965 days. bryce harper crushed two home runs off strickland in the 201...






united states - how to deal with the credit card debt from family member that ha


first, when a debt collector says, "it's to your advantage to give me money now", i'd take that with a grain of salt. my ex-wife declared bankruptcy and when debt collectors couldn't find her, they somehow the debt collectors tracked me down and told me that i should tell her that it would be to her advantage to pay off this debt before the bankruptcy went through. that was total nonsense of course. the whole point of bankruptcy is to not have to pay the debt. why would you pay it just before it was wiped off the books? (now that i think of it, i'm surprised that they didn't tell me that i should pay her debts.)as others have noted, this would be controlled by state law. but in general, when someone dies any debts are payed from the assets of the estate, and then whatever is left go...






real estate - credit card debt by family member that passed away


first, when a debt collector says, "it's to your advantage to give me money now", i'd take that with a grain of salt. my ex-wife declared bankruptcy and when debt collectors couldn't find her, they somehow the debt collectors tracked me down and told me that i should tell her that it would be to her advantage to pay off this debt before the bankruptcy went through. that was total nonsense of course. the whole point of bankruptcy is to not have to pay the debt. why would you pay it just before it was wiped off the books? (now that i think of it, i'm surprised that they didn't tell me that i should pay her debts.)as others have noted, this would be controlled by state law. but in general, when someone dies any debts are payed from the assets of the estate, and then whatever is left go...






letter: most families in need aren't deadbeats


letter to the editor: everyone has a story, and it's worth it to find out before you condemn those using food banks.         






external debt: india's end-june external debt at $485.8 billion: rbi


india's april-june external debt rose 3 percent to $485.8 billion from the january-march quarter due to an increase in foreign investment inflows into debt markets, the reserve bank of india said on friday.meanwhile, the external debt to gross domestic product stood at 20.3 percent at the end of june, up slightly from 20.2 percent at the end of march, the rbi added.on a residual maturity basis, short-term debt constituted 41.1 percent of total external debt at the end of june, down from 41.5 percent at the end of march.






debt - multiple loans multiple payers - how to snowball fairly


first off, your commitment to paying down debt and apparent strong relationship with your brother is admirable. however, i think you are overcomplicating your situation and potentially endangering your relationship by attempting to combine debts in this way.you could consider a simple example (forgetting your specific question about math for a minute) where you have interest bearing at 5% and your brother has interest bearing debt at 10%. if you both pay down his higher interest debt first, and then both pay down your debt after, then clearly you will have paid less interest combined. but, by waiting to pay off your debt until later, you have accrued more interest yourself. so who has saved money by doing this? your brother. you will have paid (let's say, without getting into balances) $5.






debt - multiple loans multiple payers - how to snowball fairly


first off, your commitment to paying down debt and apparent strong relationship with your brother is admirable. however, i think you are overcomplicating your situation and potentially endangering your relationship by attempting to combine debts in this way.you could consider a simple example (forgetting your specific question about math for a minute) where you have interest bearing at 5% and your brother has interest bearing debt at 10%. if you both pay down his higher interest debt first, and then both pay down your debt after, then clearly you will have paid less interest combined. but, by waiting to pay off your debt until later, you have accrued more interest yourself. so who has saved money by doing this? your brother. you will have paid (let's say, without getting into balances) $5.






debt: smack it or hug it? my debate with michelle singletary.


michelle singletary.i’d wager there are not many more devoted fans of this paper’s personal finance writer, michelle singletary, than yours truly. she’s a walking, talking, vigilant consumer protection bureau, although, to be clear, she doesn’t let you off the hook either. i don’t just read her. i read her to my kids.but there is something about which we disagree, and that’s debt. she thinks it stinks. wants to smack debt around. if debt was crossing the street, she’d run it over. in case you’re not catching what i’m pitching, her last article was called: “yes, all debt is bad debt.”i disagree, and michelle graciously agreed to mix it up with me. i’ll start.jb: thanks so much for joining me, michelle. i don’t typically get such star power up here in my column, s...






what is trump's plan to get the united states out of trillions in debt?


short term, his plan is raise the deficit which will continue to increase the debt significantly. the problem is, to pay down 20 trillion in debt, that requires a whole lot of surplus years and the us rarely operates with a surplus. it's also anticipated that with the baby boomers retiring, running a surplus is not expected in the next several years at least.it's worth pointing out that there's a few ways to look at debt. increasing gdp so that the debt is a smaller percentage of gdp has been argued as a method of paying down the debt. i don't think it's a good method because recessions murder that strategy and recessions, in my opinion, can't be avoided. it's not possible to maintain high gdp, contrary to what might have happened in the 1950s and 1960s - that was a different time.i...






united states - why is greece's debt considered a problem but not us debt, which


i know that the population of greece is much less than in the u.s., however i do not think it matters to people "lending" money to the governmentsthis is where you are mistaken. the lender is concerned with the ability of the borrower to pay back the debt. if i have an annual income of $100,000, then all else being equal i can borrow much more than if my income is $10,000.the relevant measure here is debt-to-gdp ratio; that is, the size of debt in relation to the national economy. the "national economy" includes all industry and other economic activity, including tourism. the values are 181.6% for greece and 73.8% for the usa. basically, the debt of greece is about 2.5 times larger in relation to its economy.investors also take into account the borrowing country's political stability,...






united states - why is greece's debt considered a problem but not us debt, which


i know that the population of greece is much less than in the u.s., however i do not think it matters to people "lending" money to the governmentsthis is where you are mistaken. the lender is concerned with the ability of the borrower to pay back the debt. if i have an annual income of $100,000, then all else being equal i can borrow much more than if my income is $10,000.the relevant measure here is debt-to-gdp ratio; that is, the size of debt in relation to the national economy. the "national economy" encompasses all industry and other economic activity, including tourism. the values are 181.6% for greece and 73.8% for the usa. basically, the debt of greece is about 2.5 times larger in relation to its economy.investors also take into account the borrowing country's political stabili...






australia has $1 trillion foreign debt. should we be worried?


when you consider how many people worry about the federal government's debt, it's surprising how rarely we hear about the nation's much bigger foreign debt. when it reached $1 trillion more than a year ago, no one noticed.that's equivalent to 60 per cent of the nation's annual income (gross domestic product), whereas the federal net public debt is headed for less than a third of that – about $320 billion – by june.syria: what it means for australiavideo duration01:34previous slidenext slidevideo duration01:50tax measures won't help debt woestax measures won't help debt woestreasurer scott morrison says australians are coping well with debt, but that is 'no reason for complacency'. (vision courtesy abc news 24)syria: what it means for australiavideo duration01:34video duratio...






united states - why is greece's debt considered a problem but not us debt, which


it's going to be difficult to really choose a "best answer" here since to some extent the factors involved, and especially which ones are "most important" is going to be a matter of opinion. and this is because economics is not a settled science in the way that physics or chemistry are, such that there are "correct answers."that said, while it has already been noted that many people do consider the us debt to be a big problem, and relative population and relative gdp do certainly matter. the one i'd emphasize above all has mostly just been mentioned as an "also" reason.and that is ... the denomination of the debt. the us can print dollars. greece cannot print euro. you don't have to think this through very hard to see that this means the us can always pay its debt in dollars, wh...






united states - why is greece's debt considered a problem but not us debt, which


it's going to be difficult to really choose a "best answer" here since to some extent the factors involved, and especially which ones are "most important" is going to be a matter of opinion. and this is because economics is not a settled science in the way that physics or chemistry are, such that there are "correct answers."that said, while it has already been noted that many people do consider the us debt to be a big problem, and relative population and relative gdp do certainly matter. the one i'd emphasize above all has mostly just been mentioned as an "also" reason.and that is ... the denomination of the debt. the us can print dollars. greece cannot print euro. you don't have to think this through very hard to see that this means the us can always pay it's debt in dollars, ...






a debt collector will not allow me to pay a debt, what steps should i take?


you say your primary goal is to clean up your credit report, and you're willing to spend some cash to do it. ok. but beware: the law in this area is a funhouse mirror, everything works upside down and backwards.to start, let's be clear: credit reports are not extortion to force you into paying. they are a historical record of your creditworthiness, and almost impossible to fix without altering history. paying on this debt will affirm the old data was correct, and glue it to your report. do not pay the debt. do not acknowledge the debt.here's how credit reporting works for r-9 (sent to collections) amounts. the data is on your credit report for 7 years. the danger is in this clock being restarted. what will not restart the clock? ignoring the debt, talking casusally to collectors, and th...






fitch ratings: india needs track record of implementing policy reducing debt: th


but i am also going to point out to you the quality of this debt and it very categorically does imply that most of this debt is only internal, only 4% of india’s debt is actually external . most of it is issuance in things like commercial banks, rbi, insurance companies, provident funds. that is what is perhaps favourable in india’s terms. isn’t that a good thing for india that the large part of its debt is internal and not external? the cea pointed out yesterday that japan with a similar profile has a plus with a debt to gdp ratio of 239%. does not that change things?yes, that is a fair point and we acknowledge that and that is indeed something that we take into account so we look at the ability in that respect to what extent is it financed abroad and to what extent also are governm...






united states - how to deal with the credit card debt from family member that ha


sorry for your loss.like others have said debts cannot be inherited period (in the us). however, assets sometimes can be made to stand for debts.in most cases, credit card debt has no collateral and thus the credit card companies will often either sell the debt to a debt collector or collections agency, sue you for it, or write it off. collecting often takes a lot of time and money, thus usually the credit card companies just sell the debt, to a debt collector who tries to get you to pay up before the statute of limitations runs out. that said, some credit card companies will sue the debtor to obtain a judgement, but many don't. in your case, i wouldn't tell them of your loss, let em do their homework, and waste time. don't give them any info,and consult with a lawyer regarding your ...






united states - how to deal with the credit card debt from family member that ha


sorry for your loss.like others have said debts cannot be inherited period (in the us). however, assets sometimes can be made to stand for debts.in most cases, credit card debt has no collateral and thus the credit card companies will often either sell the debt to a debt collector or collections agency, sue you for it, or write it off. collecting often takes a lot of time and money, thus usually the credit card companies just sell the debt, to a debt collector who tries to get you to pay up before the estatute of limitations runs out. that said, some credit card companies will sue the debtor to obtain a judgement, but many don't. in your case, i wouldn't tell them of your loss, let em do their homework, and waste time. don't give them any info,and consult with a lawyer regarding your...






united states - how to deal with the credit card debt from family member that ha


sorry for your loss.like others have said debts cannot be inherited period (in the us). however, assets sometimes can be made to stand for debts.in most cases, credit card debt has no collateral and thus the credit card companies will often either sell the debt to a debt collector or collections agency, sue you for it, or write it off. collecting often takes a lot of time and money, thus usually the credit card companies just sell the debt, to a debt collector who tries to get you to pay up before the statute of limitations runs out. that said, some credit card companies will sue the debtor to obtain a judgement, but many don't. in your case, i wouldn't tell them of your loss, let em do their homework, and waste time. don't give them any info,and consult with a lawyer regarding your ...






united states - how to deal with the credit card debt from family member that ha


sorry for your loss.like others have said debts cannot be inherited period. however, assets sometimes can be made to stand for debts.in most cases, credit card debt has no collateral and thus the credit card companies will often either sell the debt to a debt collector or collections agency, sue you for it, or write it off. collecting often takes a lot of time and money, thus usually the credit card companies just sell the debt, to a debt collector who tries to get you to pay up before the estatute of limitations runs out. that said, some credit card companies will sue the debtor to obtain a judgement, but many don't. in your case, i wouldn't tell them of your loss, let em do their homework, and waste time. don't give them any info,and consult with a lawyer regarding your father's e...






trump government shutdown threat rattles markets


new york/washington: president donald trump's threat to shut down the us government to secure funding for a wall along the mexican border rattled markets on wednesday and cast a shadow over coming efforts in congress to agree to raise the country's debt ceiling and pass spending bills. wall street analysts estimate congress has just 12 working days when it returns from its summer recess on september 5 to raise the debt ceiling before the us treasury exhausts the last of its options to remain current on all of the federal government's obligations. with that deadline looming in early october and trump raising the prospect of a government shutdown in a speech on tuesday evening if congress does not agree to fund the wall, us stocks and the dollar weakened, and investors pivoted to the safe...






maharashtra budget 2017: debt burden climbs to rs 3.71 lakh crore


written by zeeshan shaikh | mumbai | published:march 19, 2017 5:01 amin the two years since the bjp-led government took over, maharashtra’s debt burden has spiralled by 26 per cent, from rs 2.69 lakh crore when it assumed charge in 2014-15 to rs 3.71 lakh crore in the current fiscal, the budget report said. the debt is expected to reach rs 4.13 lakh crore next year.the state will spend a whopping rs 28,830 crore to serve this debt. next year, the sum it will spend on servicing debt will be rs 31,000 crore. also, the state has witnessed a 14.44 per cent increase in debt as compared to the previous financial year, the highest in the last decade. during the congress-ncp rule, the highest annual increase in debt was pegged at 12.85 per cent in 2009-10 when it grew from rs 1.60 lakh ...






indian economy: public debt dips 1.9% to rs 60.66 lakh crore in q4 fy17


new delhi: india's public debt declined marginally to rs 60.66 lakh crore at the end of march 2017, showing a quarter-on-quarter reduction of 1.9 per cent. the debt (excluding liabilities under the public account) of the government was rs 61.84 lakh crore at the end of december 2016. internal debt constituted 92.6 per cent of public debt, as compared to 92.7 per cent in the previous quarter, a quarterly report on debt management released by the finance ministry said today. global rating agencies have often cited high public debt as one of the reasons for not upgrading india's credit rating. with regard to domestic borrowing, it said gross and net market borrowing requirements of the government for 2016-17 were revised lower to rs 5.82 lakh crore and rs 4.06 lakh crore, respectively. this..






jio: here is how anil ambani plans to solve rcom's rs 45,000-crore debt math


exactly a day after fitch red-flagged reliance communications' debt, saying its default was a 'real possibility', anil ambani made a public appearance to assure his investors that the prospects for his firm were going to improve. ambani told investors that he was banking both on the aircel merger and tower asset sale to brookfield, which he believed will reduce his company's debt by 60%. rcom, with close to rs 45,000 crore worth of debt on its books, has failed to service debt of more than 10 lenders. ambani said he had time till december 31 to complete the two deals. "we had a meeting of all the lenders for rcom and presented our plans for, which has been accepted. the company will get a standstill on debt obligations for a period of 7 months," he said at the presser. ambani said th...






anil ambani: here is how anil ambani plans to solve rcom's rs 45,000-crore debt


exactly a day after fitch red-flagged reliance communications' debt, saying its default was a 'real possibility', anil ambani made a public appearance to assure his investors that the prospects for his firm were going to improve. ambani told investors that he was banking both on the aircel merger and tower asset sale to brookfield, which he believed will reduce his company's debt by 60%. rcom, with close to rs 45,000 crore worth of debt on its books, has failed to service debt of more than 10 lenders. ambani said he had time till december 31 to complete the two deals. "we had a meeting of all the lenders for rcom and presented our plans for, which has been accepted. the company will get a standstill on debt obligations for a period of 7 months," he said at the presser. ambani said th...






more than 12,000 western australians get debt notice in centrelink bungle


never before released figures show more than 12,000 western australians received debt notices as part of the turnbull government's bungled centrelink debt-recovery program, according to the greens.in january, it was revealed more than 17,000 debt notices were sent out by the federal government over the christmas break, with hundreds of people around australia complaining they were wrongly hounded for repayments. a perth woman claims centrelink said she owed $26,000 - but they owed her $5k.  now, wa greens senator rachel siewert has obtained information from the department of human services as part of the centrelink senate inquiry, which found 12,021 western australians were issued robo-debt notices between july 2016 and february 2017.during the same period 132,764 debt notices were ...






independent public debt management agency by 2018-end


new delhi: the finance ministry is likely to set up a full-fledged independent public debt management agency by the end of next year to manage government borrowing programme that runs into lakhs of crore. at present, the government debt, including market borrowings, is managed by the reserve bank of india. as an interim arrangement for a full-fledged agency for managing public debt to be called as public debt management agency (pdma), the government last year set up public debt management cell (pdmc) at rbi's delhi office last year. pdma should hopefully be functional in the last quarter of 2018, sources said. the aim of setting up the public debt management agency (pdma) is to resolve issues relating to conflict of interest as rbi decides on the key interest rates as well as undertakes b.






gorsuch shows writing style in unanimous opinion about debt collectors


justice neil m. gorsuch got a cushy assignment for his first supreme court opinion — a unanimous ruling affirming a lower court — and used it to showcase both his writing style and much-touted devotion to a textual interpretation of the laws congress passes.“disruptive dinnertime calls, downright deceit, and more besides drew congress’s eye to the debt collection industry,” gorsuch began in an 11-page opinion that said federal law targeting annoying and abusive debt collectors does not cover companies that buy debt and try to collect it.[rulings offer glimpse of what kind of justice gorsuch could be]“everyone agrees that the term embraces the repo man — someone hired by a creditor to collect an outstanding debt. but what if you purchase a debt and then try to collect it for y...






'robo-debt' collectors paid by commission and had kpis, senate inquiry hears


a debt collection agency contracted by the department of human services under its controversial "robo-debt" program was paid on a commission basis used by private companies and had kpis, a senate inquiry has heard.probe group chief operating officer jarrod kagan told a sydney hearing of the inquiry into the "robo-debt" system his company was paid commission where it received a percentage of the debts it recovered for centrelink, but no base rate.what pisa says about australian schoolsvideo duration02:15previous slidenext slidevideo duration01:12'robo-debt' collectors paid by commission'robo-debt' collectors paid by commissionthe senate inquiry into the centrelink 'robo-debt' collection scandal has heard the government contractor tasked with recovering funds worked by commission ...






the united states just hit $20 trillion in debt. republicans have a plan to make


the sun rises over the capitol building in washington on nov. 1, 2011. (andrew harrer/bloomberg news)the united states' debt topped $20 trillion for the first time ever in september. if some republican senators get their wish, it will grow even more.senate republicans have tentatively agreed to a budget deal that would allow them to pass a $1.5 trillion tax cut. the catch is they aren't proposing spending cuts or tax increases elsewhere to pay for it. that means the nation's debt could increase by $1.5 trillion or more over the next decade.“it's an astronomical amount, given how bad our current debt is,” said maya macguineas, head of the committee for a responsible federal budget, a nonpartisan watchdog group that's trying to reduce the debt.the deal is even more remarkable, gi...






the united states just hit $20 trillion in debt. republicans have a plan to make


the sun rises over the capitol building in washington on nov. 1, 2011. (andrew harrer/bloomberg news)the united states' debt topped $20 trillion for the first time ever in september. if some republican senators get their wish, it will grow even more.senate republicans have tentatively agreed to a budget deal that would allow them to pass a $1.5 trillion tax cut. the catch is they aren't proposing spending cuts or tax increases elsewhere to pay for it. that means the nation's debt could increase by $1.5 trillion or more over the next decade.“it's an astronomical amount, given how bad our current debt is,” said maya macguineas, head of the committee for a responsible federal budget, a nonpartisan watchdog group that's trying to reduce the debt.the deal is even more remarkable, gi...






'robo-debt' collectors paid by commission and had kpis, senate inquiry hears


a debt collection agency contracted by the department of human services under its controversial "robo-debt" program was paid on a commission basis used by private companies and had kpis, a senate inquiry has heard.probe group chief operating officer jarrod kagan told a sydney hearing of the inquiry into the "robo-debt" system his company was paid commission where it received a percentage of the debts it recovered for centrelink, but no base rate.scone or biscuit? the view from tenessee video duration02:17previous slidenext slidevideo duration01:12'robo-debt' collectors paid by commission'robo-debt' collectors paid by commissionthe senate inquiry into the centrelink 'robo-debt' collection scandal has heard the government contractor tasked with recovering funds worked by commissio...






bis sounds debt warning as australian household debt hits all-time high


high household debt levels amassed in the past decade have left australian households among the most vulnerable to a sharp rise in global interest rates, the bank for international settlements warned on sunday.australia's household debt-to-income ratio is at an all-time high of 189 per cent, according to the reserve bank of australia. the never-ending rise in household debt is borrowing from the future to pay for pleasure in the present. photo: oliver astrologoin a generally positive outlook on the global economy, the basel-based bank of central bankers points out the generally high risk in many economics due to high debt levels amassed during a period of low interest rates."maturing financial cycles and high debt levels raise the risk of potential weakness in consumption and, in s...






redfin launches texas-based home loan business


image 1of/1captioncloseimage 1 of 1redfin has launched redfin mortgage to make home loans to redfin customers in texas.redfin has launched redfin mortgage to make home loans to redfin customers in texas.redfin launches texas-based home loan business1 / 1back to galleryredfin, the seattle-based online real estate brokerage firm, has formed redfin mortgage in an effort to streamline the home buying process and keep fees down.based in dallas, the company will start making loans in the first half of 2017 to redfin customers buying homes in the houston, austin, dallas and san antonio markets. it will not initially handle refinance loans.jason bateman, formerly of bbva comp , will head the new office, which complements redfin's brokerage and title businesses.related: redfin forecasts houston's '