Tuesday, February 8, 2011

Two Tips on Paying Credit Card Debt

Although there is no best way to settle credit card debt, there are several ways you can go about relieving your burden. Methods range from getting a lower rate from the credit card company to paying off the debt from your savings account to taking out a loan in order to repay the debt. By incorporating a variety of methods into paying off the debt, success can be achieved, although your credit rating may suffer as a result of the debt.

Preemptive Action 
One way to help settle credit card debt is to take preemptive action. Rather than waiting until your bills can’t be paid, when you find out that you’re going to have problems making payments, contact your lender. A lender might be willing to work with you if you take the initiative and contact him rather than waiting until he gets in touch with you.

Debt Settlement 
Debt settlement is another means of settling credit card debt. Although some companies make debt settlement to be a simple process, the reality is different. Many credit card lenders will not want to settle for a lesser amount unless that is absolutely the only way possible to get any kind of repayment. Keep in mind that you can work out a debt settlement on your own without having to have a company handle it for you. Many companies charge you a fee for doing something that you can do yourself.

Tuesday, January 11, 2011

Health Savings Accounts – Understanding the New Rules

Health Savings Accounts – Understanding the New Rules



A health savings account is designed to give consumers a bit more control over the way they spend their health care dollars. The funds you put into an HSA enjoyed tax-privileged treatment; as such, those funds are subject to guidelines issued by the Internal Revenue Service. You can use the money in your health savings account only to pay for legitimate medical expenses, including the cost of the prescription drugs you need to stay healthy.

But while health savings accounts remain a viable option for consumer driven health care, it is important to note that there are some new rules of the road. The recently enacted health care reform includes a number of changes to health savings accounts, including restrictions on the types of medications that can be reimbursed and changes to the annual contribution amounts.

Prescription Drug Coverage
Because health savings accounts provide significant tax savings and other benefits, the IRS places restrictions on how those monies can be used. You may use the money put into an HSA only to cover legitimate medical expenses incurred by the individual or families participating in the plan.

Prescription drug costs are considered legitimate medical expenses by the IRS, and that means that you can use your HSA funds to pay for those costs. You can use the money in your HSA to pay for prescription drugs not covered by your health plan. You can also use your HSA money to pay any copayments or deductibles on those prescriptions.

Over the Counter Medication and Health Care Reform
Starting on January 1, 2011, you can still use your HSA funds to pay for over the counter medications, but only if you have a prescription from your doctor. If you plan to use your HSA funds to purchase over the counter medications, such as cough and cold remedies, allergy medications and non-prescription pain relievers, you must first obtain a prescription from your doctor.

If you suffer from seasonal allergies, and want to use a less costly non-prescription allergy medication, be sure to talk to your doctor when you go in for your next exam. Getting the prescription ahead of time allows you to avoid a costly office visit, thereby using your HSA funds more wisely.

Drug Coverage Restrictions
While you can pay for prescription drugs using the money in your HSA account, HSA plans do restrict how those funds can be used. For instance, if you do not have prescription coverage, or if the prescription you need is not covered by your plan, you can use your HSA funds to pay for that drug. However, the amount you pay will not be applied to your health plan?s deductible.

If you do have prescription coverage, you must pay the entire cost of the prescription at the pharmacy. If the pharmacy you use is in the health insurer?s network, the health plan will automatically file a claim for you and you will be reimbursed from the funds in your HSA. The price you pay at the network pharmacy is the lesser of the health plan?s preferred price or the pharmacy?s usual price for the medication.

Future Rule Changes
The rules and regulations governing HSAs are subject to change, so it is important to keep up-to-date. The recently enacted restrictions on use of HSA funds to pay for over-the-counter medications is one example. If you get your HSA through your employer, check back at each open enrollment period to review any changes that impact your funds. If you buy your insurance and fund your HSA on your own, ask the administrator of your HSA about any changes that will impact your use of the funds going forward.

Before you invest in a new HSA or add to an existing one, it helps to understand how the recent rule changes affect you and your health care decisions. The entire purpose of the health savings account is to help you make smarter health care decisions, and knowing the rules before you invest can make you a smarter and more effective health care consumer.



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Category: Finance, Business.

Can I qualify for loan with my fiance? he has good credit, good paying job, my credit score low with low pay?

Question by hope4me: Can I qualify for loan with my fiance? he has good credit, good paying job, my credit score low with low pay?
We are engaged and would like to blend our families and lives. He owns a home and uses it as rental income. He has been preapproved for a second mortgage loan at 220k. He has good credit history, score of 750 and makes 70k. The house's we like are about 280k. I have fair credit and only make 18k a year. I have a school loan I make payments on, My car will be paid off in 3 months and the bad debt is settled but still I have a low score of about 400. What can I do to help us get a house? Will anybody consider my income, and is my income enough to get the additional 60k loan we need for a home?
WE DO HAVE A DOWN PAYMENT AND WE DO HAVE A CUSION OF SAVINGS. ONE CHILD IS PAID IN FULL AT THE CULLINARY ARTS SCHOOL AND THE OTHER IS AT A JR COLLAGE UNTILL HE DECIDES WHAT TO STUDY SO WE PAY AS HE GOES... THE THIRD WILL STAR IN THE FALL AND THE FUNDS HE NEEDS IN IN A SAVINGS ACCOUNT. MY BAD CREDIT IS FROM AN ACCIDENT I HAD SEVERAL YEARS AGO THAT LEFT ME WITH MANY MEDICAL BILLS BEYOND MY INSURANCE. I HAVE NO OUSTANDING CREDIT CARD DEBT I MAKE MY CAR PAYMENT AND MY TUITION PAYMENT ON TIME. SOME OF YOU ARE RUDE.... DONT RESPOND IF YOUR RUDE. THANK YOU TO THOSE WHO HAVE ACTUALLY GIVEN SOUND ADVISE AS TO HOW I CAN MAKE THIS HAPPEN. BY THE WAY THE HOUSE IS NOT NY DREAM HOUSE...ITS SMALL AND IN A SAFE AREA WITH A BEDROOM FOR US AND TWO FOR THE THREE ALMOST GROWN KIDS. RIGHT NOW I PAY 1800$ IN RENT AND HE IS PAYING 800$ IT MAKE 'S SENCE TO BUY NOT RENT.


Best answer:

Answer by Jyoti P
will he co sign?



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Am I a fool to have bought a car from Yes Car Credit?

Question by wooota: Am I a fool to have bought a car from Yes Car Credit?



Best answer:

Answer by Fantasy Believer
No.............................



Add your own answer in the comments!

free home loan mortgage quote refinance?

Question by Jackie O: free home loan mortgage quote refinance?
do these online companies give legitimate quotes or is it just a scam?


Best answer:

Answer by alterfemego
Jackie, if I were you I would stick with local lenders. That way if something goes wrong, you can face them in their office. And yes, most hook you and when you are committed, you'll be afraid to walk away. Most do and end up with trouble.



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data recovery from hard drive?

Question by awanderingelf: data recovery from hard drive?
Ok, here's the story:
Windows XP desktop. When computer turned on, lights on front panel light up and can hear fan spin briefly, then all goes dead. Data on hard drive (in several folders), and you guessed it, it's not backed up.

Suggestions for recovering the data?


Best answer:

Answer by Jennifer C
Our hard drive crashed and my husband is a computer guru and could not do anything. He said that you can send it in to a company that repairs hard drives, but it cost a pretty penny!



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How and where can I get help finding a mortgage with bad credit?

Question by Daniel S: How and where can I get help finding a mortgage with bad credit?
I have pretty bad credit from when Is was a kid now I need to stop paying rent and start paying a mortage. If anyone knows where I can find help please let me know.


Best answer:

Answer by shari
I don't want to sound like a downer, BUT.....with bad credit, you WILL get charged a much higher rate than people with good credit. Which add up to years of extra payments and money. And the housing market and econmy are VERY bad right now. Think this through. Been there done that. And wish I hadn't!



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Home equity ?

Question by Sue T: Home equity ?
I bought and sold a home for my daughter using a home equity loan from my home. After selling the home, I put the equity back into my home (and still pay on it). My taxes are reading that by selling this home, I received income - but it's not. Actually, I lost money... anyone have suggestions?


Best answer:

Answer by cbmttek
Any difference between what you paid for the home, and what you sold it for is considered income, regardless of where the initial payment came from.

The only way that the IRS will see that you lost money is if you sold the home for less then you paid. (i.e. you bought the house for $ 100K and sold it for $ 98K, loss of $ 2000.) If you sold the house for more then you paid for it, sorry, it is income.



Give your answer to this question below!

Q&A: Domestic Partnership is fair...right?


Question by modelchica: Domestic Partnership is fair...right?
California Domestic Partnership

As of 2007, California affords domestic partnerships all of the same rights and responsibilities as marriages under state law (Cal. Fam. Code §297.5). Among these:

* Making health care decisions for each other in certain circumstances
* Hospital and jail visitation rights that were previously reserved for family members related by blood, adoption or marriage to the sick, injured or incarcerated person.
* Access to family health insurance plans (Cal. Ins. Code §10121.7)
* Spousal insurance policies (auto, life, homeowners etc..), this applies to all forms of insurance through the California Insurance Equality Act (Cal. Ins. Code §381.5)
* Sick care and similar family leave
* Stepparent adoption procedures
* Presumption that both members of the partnership are the parents of a child born into the partnership
* Suing for wrongful death of a domestic partner
* Rights involving wills, intestate succession, conservator-ships and trusts
* The same property tax provisions otherwise available only to married couples (Cal. R&T Code §62p)
* Access to some survivor pension benefits
* Supervision of the Superior Court of California over dissolution and nullity proceedings
* The obligation to file state tax returns as a married couple (260k) commencing with the 2007 tax year (Cal R&T Code §18521d)
* The right for either partner to take the other partner's surname after registration
* Community property rights and responsibilities previously only available to married spouses
* The right to request partner support (alimony) upon dissolution of the partnership (divorce)
* The same parental rights and responsibilities granted to and imposed upon spouses in a marriage


http://en.wikipedia.org/wiki/Domestic_partnership_in_California

In my opinion:
Looks to me like domestic partnership is pretty much the same. Domestic partnership is a term used to describe same sex marriage in my eyes. Just like bigamy is the unlawful act of having two or more wives or husbands at the same time, usually with the second not knowing about the first. Polygamy is the practice of having multiple wives based on religious beliefs, with all wives aware of, and agreeable to, the husband having several wives. Civil unions, common law marriages, etc. are among these various terms used to describe different types of marriages.

In essence the comparison used with the Brown vs. Board of education "separate but equal" plight that gays try to use to compare their argument is not a fair comparison. Were gays being kept from attending the school of their chose just because they are gay? Were gays demanded to sit at the back of the bus or give up their seat because they are gay? Were gays hung on trees, blown up in churches, unable to vote just because they are gay? Were gays ever unable to drink from the "whites only" water fountain just because they are gay? Were gays forced to work as slaves because they are gay? The list goes on...THERE IS NO COMPARISON! Boundaries have to be created in order to establish some form of limit that keeps chaos from ensuing. The vote has been cast for a second time to establish what the majority wants (not just one race, but all walks of life were included in this vote). America doesn't make it legal for genders of the opposite sex to commit bigamy, incest, statutory rape, etc. All these are acts that the members of the opposite sex can "want" to do, but can be arrested for doing. Are gays being arrest for their lifestyle? Looks like they have many rights granted to their situation already to suit much of what they want. Demanding the term marriage to include same sex marriage is forcing society to give a mile when many inches of fairness have already been granted.


Best answer:

Answer by -- VMPlvr --
What is marriage? Why do we want it? Why cant we just be in love......spend your lifes together, dont waste time on a marriage, just to prove you love eachother. I would enjoy going on a date just as much as getting married.....I bought my boyfriend a ring, and he was the happiest I have ever seen him. There is no reason to get married, gay or straight, love is already there, and there is no need to prove it.



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who knows the average i365 Data Recovery Services cost?


Question by cowhide: who knows the average i365 Data Recovery Services cost?
im getting a hard drive retrieved. Hopefully.. I was wondering what range they charge for it. Thanks!


Best answer:

Answer by Tim B
I checked recently and it varied a lot. I was given numbers between $ 500 and $ 2000, depending on how much work was involved. For example, if it is just a board/firmware issue, the fix is cheap. If they have to rebuild all the content off your drive, it can get expensive.



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Q&A: Is there one website that you can go to and get home refinance rate comparisons instead of individual sites?


Question by Deborah M: Is there one website that you can go to and get home refinance rate comparisons instead of individual sites?



Best answer:

Answer by SuperCactus
Try www.bankrate.com They have most everything concerning money and finance.



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Instant Term Life Insurance Quote?

Question by Virtual: Instant Term Life Insurance Quote?
I just got employed as a VA (virtual assistant). Am I qualified for a term life insurance? And how can I an instant term life quote. I need one that is relevant and accurate.

Any help will be greatly appreciated.


Best answer:

Answer by car253
Call some live local insurance agents. They give free term life insurance quotes over the phone.



What do you think? Answer below!