accounting – Medielys http://www.medielys.com/ Tue, 24 Aug 2021 20:49:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://www.medielys.com/wp-content/uploads/2021/08/favicon-2-150x150.png accounting – Medielys http://www.medielys.com/ 32 32 Loan consolidation company relieving Americans of payday loan debt amid Covid-19 pandemic http://www.medielys.com/2021/08/14/loan-consolidation-company-relieving-americans-of-payday-loan-debt-amid-covid-19-pandemic/ Sat, 14 Aug 2021 07:00:00 +0000 http://www.medielys.com/2021/08/14/loan-consolidation-company-relieving-americans-of-payday-loan-debt-amid-covid-19-pandemic/ Oakland Park, Florida (PRWEB) August 14, 2021 Covid-19 hit the world by surprise in March 2020, and since then life has taken a dark turn. This pandemic has gripped the world by the neck, from the loss of families and friends to the virus, to job losses and business failures. As businesses close their doors […]]]>


Covid-19 hit the world by surprise in March 2020, and since then life has taken a dark turn. This pandemic has gripped the world by the neck, from the loss of families and friends to the virus, to job losses and business failures. As businesses close their doors and citizens face wage cuts, payday loans have become the order of the day.

Payday loans are advances that lenders give to individuals, which they repay when they receive their paycheck. They are suitable for covering medical emergencies, accidents and unforeseen bills. But they can be a trap if you borrow more money than you can afford. Defaulting on such loans comes with outrageous rolling charges and insane interest.

These loans are attractive and tempting. Creditors know how to target the weak points of consumers, leaving them no choice but to seize them. They use persuasive language to make the deal seem too good to resist. Here are some of the reasons payday loans are great:

  • They have a high likelihood of approval
  • Lenders offer adjustable amounts of money
  • Payday loans come quickly in an emergency
  • When used well, payday loans can be a reliable way to supplement your sources of income.

Although sometimes it is inevitable to borrow these loans, consumers should avoid them like the plague. They have higher interest rates than regular bank loans. “Some companies will entice you with this offer and destroy you with the interest rate. If you have fallen into this trap, do not despair, there is still hope ”, advises National payday loan relief.

Most of the people know the disadvantages of these payday loans, but they borrow anyway. This is because they seem to be an instant helping hand. They are convenient because they do not require guarantors and credit checks. Plus, they don’t feel like a burden. Some people feel embarrassed when borrowing from family and friends, so they opt for payday loans.

“A lot of people love payday loans because of their embarrassment; Do you know that uncomfortable feeling that comes with borrowing from family and friends? Payday loans don’t come with so much shame, ”National Payday Loan Relief (NPDLR) noted. It is advisable to avoid payday loans. Instead, consider other alternatives, like asking friends and family for help. If the payday loan is inevitable, stick to one lender.

“Payday loans tend to be risky, but depending on the situation, it can help under the circumstances. The bottom line about payday loans is that you are trying to find an alternative. If you have to use a payday loan, try to limit the amount and only borrow what you can afford to pay with your next paycheck, and of course, still have enough to make it to the next payday. », Advises NPDLR.

So what about after getting stuck in a payday loan cycle debt? Do you accept defeat and live a miserable paycheck life?

There is a way out of payday loan debt. The NPDLR has developed various initiatives that help you pay off your debts in less time and even at lower rates. First, they have a payday loan consolidation program which allows you to pay multiple loans simultaneously with a single loan.

“Debt consolidation is a service offered by loan relief service providers to facilitate debt refinancing by taking a loan from the consolidator and using it to repay multiple loans owed to other debtors,” explains NPDLR. This program is what people struggling with debts from multiple creditors need to regain their financial freedom. This shortens the repayment time and the final amount you repay.

“Debt consolidation is a relief for personal finances because it allows you to pay off multiple debts simultaneously using a single low interest loan. It also relieves you from nagging phone calls from lenders, among other benefits. Wondering how this loan consolidation program works? It’s pretty self-explanatory. The consolidator takes all the responsibility for the debt clearance, such as negotiating better rates, payment schedule, etc.

“The consolidation company will take care of the rates, fees, renegotiation of terms and all that is expected of you is to pay off your debt in friendly monthly installments through the loan consolidation company.” Why pay a consolidation company to do all of this when you can negotiate your way to pay low interest? To the extent that you can do these things yourself, a consolidator familiar with payday loans and the rules governing lending institutions has a better chance than a layman. “Obtaining such an agreement can be difficult if you try to renegotiate your loan with the creditor on your own,” warns the NPDLR.

There is another solution for consumers with multiple payday loan debts; debt settlement. You use this method as a last resort, after trying other ways to settle your payday debts. Here, you hire a debt management professional or a legal firm to advise you on the options available. It is not easy to negotiate debt cancellation and other settlement options on your own; that’s why you need to look for an expert. “While it is quite possible to do this yourself whenever dealing with complex legal and financial matters, it is always recommended that you contact a lawyer or professional firm who has experience in this type of situation. questions, ”advises NPDLR. .

“Once you have negotiated an acceptable agreement that both parties have signed on, you can finalize the matter. Sometimes this can include writing off the entire debt, but more often there will be a payment plan for a partial amount of the original amount. It’s a good way to save money while reducing monthly payments to a more manageable level. The lower monthly payments leave room for more savings. Saving money is a habit for all of us if accepting payday loan debts interferes with this crucial habit. The money saved gives us hope for a better future and the ability to meet a need if it arises.

“Money is a guarantee that we can have what we want in the future. Although he does not need anything at the moment, it ensures the possibility of satisfying a new desire when it arises, ”said Aristotle. Suzie Orman, one of the bestselling personal finance authors, says you need to correct the root cause of your financial problems to gain financial freedom. This is why it is essential to speak to an expert for legal and financial advice. “The only way to permanently take control of your financial life is to dig deep and fix the problem at the root,” wrote Orman, who is the author of over 25 million books on finance.

Payday loans are at the top of the list of root causes of financial problems for most Americans. When you get the first advance, you pay it off with your next paycheck. If the remaining amount cannot support your lifestyle until the next payday, you borrow another loan. This cycle cannot save you a dime, and your dream of financial freedom delays another day. The main cause of debt accumulation is a lack of budgeting, which results in overspending on unnecessary things. Getting financial advice helps you avoid falling into the same trap by developing better financial habits and comprehensive financial advice.

“As a debt settlement company, NPDLR feels obligated, as our duty, to educate and educate our clients on how to avoid making the same mistake twice. We provide debt advice. financial and credit counseling to all those who wish to learn and improve each day. Financial credit counseling will give you an idea on how to improve your finances and your credit score in your future spending, ”noted NPDLR. financial advisor can even help you with other alternatives to pay off your payday loans, such as mortgage refinancing. This is a very fragile subject and requires expert advice to save money. If you go for it blindly , you risk getting into more debt.

“When you refinance your loan, you’ll want to get a better deal. When you decide to consider how refinance my mortgage, you’ll want to make sure you’re making the right decisions for that, ”advises NPDLR.

There are other alternatives to turn to when payday loan debt gets out of hand. These are:

  • Financial Debt Management Services
  • Bankruptcy filing
  • Financial debt and credit card advice
  • Payday Loan Debt Settlement

NPDLR offers other loan and credit management services to help clients take charge of their financial well-being. These include:

  • Debt repayment calculator that gives customers an overview of their accumulated debt and payment schedule
  • Credit card debt relief program to help credit card debtors pay off their credit card loans
  • Payday Loans Map to help clients find payday loans and debtor protection areas in their state
  • Debt Settlement Agreement Template Clients Can Use to Write Their Debt Settlement Agreements

About National Payday Loan Relief

NPDLR is a debt settlement company known across the United States for helping you get out of payday loan debt. They help you recover from payday loan debt through their loan relief and consolidation program. Their fundamental values ​​are to be united, reliable, well informed and negotiators. The mission of the NPDLR is to be an efficient and reliable payday loan assistance service provider, helping Americans in all states. They also pride themselves on over 20 years of professional service, with financial experts and qualified lawyers.

For more information on National Payday Loan Relief and Debt Consolidation Services, visit their website or contact them by phone or SMS at (888) 407-4521 or email: info @ nationalpaydayloanrelief .com. Their physical address is 3221 NW 10th Terrace, Oakland Park, FL 33309.



Source link

]]>
Vs student loan consolidation. Refinancing http://www.medielys.com/2021/08/12/vs-student-loan-consolidation-refinancing/ Thu, 12 Aug 2021 15:33:00 +0000 http://www.medielys.com/2021/08/12/vs-student-loan-consolidation-refinancing/ You cannot consolidate federal loans; private student loans are not eligible for the program. Refinancing student loans may earn you a lower rate than your original loan terms. When you refinance federal loans with a private lender, you lose some key borrower protections. Learn more about Insider’s student loan coverage here. The difference between loan […]]]>


  • You cannot consolidate federal loans; private student loans are not eligible for the program.
  • Refinancing student loans may earn you a lower rate than your original loan terms.
  • When you refinance federal loans with a private lender, you lose some key borrower protections.
  • Learn more about Insider’s student loan coverage here.

The difference between loan consolidation and refinancing can be confusing, especially since people sometimes use the terms interchangeably. However, these are two different processes, and depending on your financial goals, one may be better for you than the other.

What is the student loan consolidation?

You can consolidate or combine multiple federal loans into one loan with a direct consolidation loan. There is no charge to consolidate your federal loans. If a private company offers to help you apply and requires a fee, it is a red flag. The consolidation of student loans does not require a credit check.

Keep in mind that you won’t save money by consolidating your student loans, but that doesn’t mean you can’t benefit from the process. You’ll have fewer payments to track each month, and if you’re unhappy with your loan manager, you’ll get a new one upon consolidation.

If you consolidate loans other than direct loans, you may become eligible for income-tested repayment plans and the forgiveness of public service loans. If you already have direct loans, you can retain these benefits during consolidation.

If you have federal variable rate loans (which were last disbursed in 2006), consolidation will allow you to switch them to fixed rate loans. You can also reduce your monthly payments by opting for a longer repayment term, although this option will cost more in interest overall.

However, when you consolidate your loans, any unpaid interest becomes part of the principal balance of your new loan. This means that interest can accumulate on a larger principal balance than if you had not consolidated.

What is student loan refinancing?

If you are looking for a lower rate on your student loans, you will want to refinance them. Depending on your current financial profile, private lenders may offer you better terms than your original loan. Refinancing a student loan will require a credit check and your rates will be based on it.

You can switch from a fixed rate loan to an adjustable rate loan when you refinance, which can allow you to snag a lower rate. However, as the name suggests, variable rate loans can fluctuate and you may end up paying a higher rate than if you had gone for a fixed rate loan.

Use caution before refinancing federal student loans. You will forgo all current and future government borrower protection, such as COVID-19 loan forbearance, currently in place until January 31, 2022, and federal student loan relief programs like loan forgiveness. for the public service.

You will also not be eligible for specific repayment options such as income-based repayment plans, which take into account your specific income and family size when determining monthly payments and protect you in the event of a loss. Job Loss. Your savings on interest might not be worth losing these benefits.

On the other hand, if you are refinancing private student loans, there is almost no downside. There are usually no refinancing fees, and you may be able to get better rates on your new loan, especially if your credit score has improved since you got your original loan.

When deciding between refinancing or consolidating your loans, make sure you know the ins and outs of both processes and choose the one that’s right for you.



Source link

]]>
The Polish Deal: Consolidation Relief and Changes in the Tax Treatment of Debt Financing Costs http://www.medielys.com/2021/08/12/the-polish-deal-consolidation-relief-and-changes-in-the-tax-treatment-of-debt-financing-costs/ Thu, 12 Aug 2021 07:00:00 +0000 http://www.medielys.com/2021/08/12/the-polish-deal-consolidation-relief-and-changes-in-the-tax-treatment-of-debt-financing-costs/ The tax changes proposed under the Polish Deal program enshrine in law a method of calculating the limit on debt financing costs that is disadvantageous to taxpayers. They offer a carrot to buyers of shares in the form of a deduction from the tax base of qualifying expenditure on the acquisition of shares as part […]]]>


The tax changes proposed under the Polish Deal program enshrine in law a method of calculating the limit on debt financing costs that is disadvantageous to taxpayers. They offer a carrot to buyers of shares in the form of a deduction from the tax base of qualifying expenditure on the acquisition of shares as part of the consolidation relief, but also a stick in the form of a total ban on treating interest on debt financing obtained from related parties for the acquisition of shares as a tax deductible cost.

An unfavorable method of calculating the limit on debt financing costs

The Corporate Income Tax Act currently provides that CIT taxpayers cannot recognize debt financing costs as tax deductible costs as long as the debt financing costs to be recognized in interest income earned in that fiscal year by more than 30%. tax EBITDA.

In accordance with the CIT Law, excess debt financing costs not exceeding PLN 3,000,000 in a fiscal year are not excluded from tax deductible costs.

“Tax” EBITDA is the excess of total income from all sources of income, less interest income, over total deductible expenses, less the value of depreciation write-offs and non-debt financing costs. included in the initial value of tangible or intangible assets recognized as deductible during a fiscal year.

Thus, it is the amount of the excess of the debt financing costs incurred during the tax year (considered as deductible expenses) over the interest income received during the year, and not the amount of debt financing costs as such, which is the benchmark for excluding debt financing costs.

In tax practice, there are currently two interpretations of how the ceiling on debt financing costs is calculated.

Depending on the tax administration, which takes a position unfavorable to taxpayers, in a given fiscal year, excess debt financing costs can be classified as tax deductible costs up to:

  • 3,000,000 PLN, or
  • 30% of fiscal EBITDA,

the one who is the highest.

On the other hand, the case law of administrative courts reflects a taxpayer-friendly approach, based on a literal interpretation of the provisions in force, according to which:

  • The excess debt financing costs not exceeding PLN 3,000,000 in a fiscal year do not apply at all to the limit of recognition as tax deductible costs.
  • When in a given fiscal year the excess debt financing costs exceeds PLN 3,000,000, the taxpayer may include up to PLN 3,000,000 and 30% of fiscal EBITDA as tax deductible expenses.

The position adopted by administrative courts is of great importance for taxpayers, as in practice it allows them to include in tax deductible costs during a fiscal year up to PLN 3,000,000 more in debt financing costs only under the unfavorable approach of the tax authorities.

The proposed tax changes aim to enshrine in the CIT law the interpretation of tax administration that is disadvantageous for taxpayers.

According to the bill, taxpayers will have to exclude debt financing costs from tax-deductible costs to the extent that the debt financing costs in a fiscal year exceed PLN 3,000,000. Where 30% of fiscal EBITDA.

There is no doubt that these changes would generate additional tax burdens for businesses.

Prohibition to deduct as tax costs the costs of financing the debt of related parties for the acquisition of shares vs the possibility of deducting from the tax base the expenses qualified for the acquisition of shares

The proposed rules provide for:

  1. A total ban on deducting financing costs from related party debt, allocated directly or indirectly to operations on the capital, in particular acquisition or subscription of shares, acquisition of all rights and obligations in a partnership (not a legal person), increases on shares, capital increases or share repurchase of the company in order to redeem them.

The proposed regulation aims to thwart the tax practice of capital groups, where a taxpayer reduces income by recognizing interest on loans from related parties as tax deductible costs and allocates the proceeds of the loan to finance another. related party (for example by making a cash contribution), which results in the reclassification of the loan as equity financing and, therefore, does not generate income for the taxpayer.

  1. Consolidation relief, which would allow taxpayers receiving income other than capital gains to deduct from their tax base the expenses eligible for the acquisition of shares in companies, up to the amount of the taxpayer’s income during a financial year. taxation other than capital gains.

Not only could qualifying expenses be tax deductible under the CIT Act, but they could also (in addition) be deducted from the tax base in the tax year in which the shares are purchased. This deduction could not exceed PLN 250,000 in a fiscal year.

Expenses qualifying for the acquisition of shares would include expenses directly related to the share purchase transaction, incurred for:

  • Legal services for the purchase or valuation of shares
  • Notary fees, court fees and stamp duty
  • Taxes and other public and legal taxes paid in Poland or abroad.

Eligible expenses would not include the price paid for the shares or the debt financing costs associated with such an acquisition.

If, within 36 months of acquiring the shares:

  • The taxpayer or his legal successor disposes of or redeems the shares
  • The taxpayer or his legal successor is put into liquidation or is declared bankrupt, or
  • There are other circumstances provided for by law in which the taxpayer or his successor in title ceases to exist

the taxpayer or his legal successor will be obliged to increase the tax base by the amount of the deduction made during the tax year in which the above event occurred.

The deductibility of eligible expenses would be subject to the following preconditions:

  • The company whose shares are acquired is a legal person and has its registered office or board of directors in Poland or in another state with which Poland has concluded a tax treaty containing a legal basis for the exchange of tax information .
  • The principal object of the business of the company is the same as that of the taxpayer, or the activities of the company can reasonably be regarded as activities supporting the activities of the taxpayer (but the activities of such a company cannot constitute fundraising activities).
  • The taxpayer and the company have exercised this activity for at least 24 months before the date of acquisition of the shares.
  • In the two years preceding the date of acquisition of the shares, the company and the taxpayer were not related entities.
  • In a single transaction, the taxpayer acquires shares in the company for an amount representing the absolute majority of voting rights.

The simultaneous introduction of consolidation relief and the ban on deducting interest on financing debts from related parties is a sign of inconsistency on the part of the promoter of the amendment. On the one hand, it encourages taxpayers to acquire shares in other companies and, on the other hand, it makes it difficult to obtain financing for the acquisition of such shares from related parties.



Source link

]]>
Razor Energy Corp. Announces Completion of Strategic Acquisition of Light Oil Consolidation at Swan Hills and Adoption by FutEra Power Corp. a stock option plan http://www.medielys.com/2021/08/12/razor-energy-corp-announces-completion-of-strategic-acquisition-of-light-oil-consolidation-at-swan-hills-and-adoption-by-futera-power-corp-a-stock-option-plan/ Thu, 12 Aug 2021 07:00:00 +0000 http://www.medielys.com/2021/08/12/razor-energy-corp-announces-completion-of-strategic-acquisition-of-light-oil-consolidation-at-swan-hills-and-adoption-by-futera-power-corp-a-stock-option-plan/ CALGARY, Alberta, August 12, 2021 (GLOBE NEWSWIRE) – Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce that it has completed the acquisition of certain of the assets of interest in its central area of ​​Swan Hills, Alberta (the “Assets ) For a total purchase price of $ 5 million in […]]]>


CALGARY, Alberta, August 12, 2021 (GLOBE NEWSWIRE) – Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce that it has completed the acquisition of certain of the assets of interest in its central area of ​​Swan Hills, Alberta (the “Assets ) For a total purchase price of $ 5 million in cash, subject to certain closing adjustments (the “Acquisition”) as previously announced in its August 4, 2021 press release.

The acquisition was financed by Arena Investors, LP (“Arena”) through an amended term loan agreement. Arena is an institutional asset manager with $ 2.2 billion in committed assets under management that specializes in providing innovative capital solutions for mid-market companies.

The acquisition enables Razor to profitably add industry-leading, long-term light oil reserves with a base ten percent annual decline, at low risk (41o API), production and cash flow supported by improving commodity price environment as crude oil supply and demand returns to equilibrium.

Meanwhile, FutEra Power Corp. (“FutEra”), a subsidiary of Razor, continues to build our first geothermal project in Swan Hills. FutEra is currently examining other projects, including solar, wind and geothermal power at the wellhead. In addition, FutEra recently commissioned its wholly owned 10 petahash bitcoin mining operation, which includes the supply of self-generated electricity and the mining facility. Additionally, Razor has now completed construction of its Virginia Hills soil treatment facility, which will be operational in the third quarter of 2021.

Razor and FutEra continue to identify and seize opportunities to unleash alternative energy sources while measurably improving the environmental and social impacts of our business.

Further information regarding this acquisition, Razor’s conventional oil and gas operations and FutEra’s ongoing geothermal and innovative projects can be found in our updated corporate presentation available at www.razor-energy.com.

FutEra adopts a stock option plan

The Company also announces today that the Board of Directors has approved the adoption of a fixed stock option plan (the “FutEra Option Plan”) for FutEra.

Under the FutEra option plan, FutEra may grant options to acquire up to a total of 284,000 common shares of FutEra (each a “FutEra share”), subject to the terms of the FutEra option plan and applicable securities laws. It is expected that options will be granted by the FutEra Board of Directors (the “FutEra Board”) to certain FutEra officers and employees for retention purposes and in recognition of their continued efforts to help FutEra become a leader. in Alberta. clean electricity production by upgrading existing assets with new and innovative solutions. Once granted, options will be subject to vesting conditions as determined by FutEra’s board of directors, including an expected term of five years from the date of issue.

The FutEra Option Plan remains subject to the approval of the TSX Venture Exchange.

About razor

Razor is a publicly traded junior oil and gas development and production company headquartered in Calgary, Alta. Focused on acquiring, then improving and producing oil and gas from properties primarily in Alberta. The company is led by experienced management and a strong and committed Board of Directors, with a long-term vision of growth focused on efficiency and cost control in all areas of the business. Razor currently trades on the TSX Venture Exchange under the symbol “RZE.V”.

www.razor-energy.com

About FutEra

FutEra leverages the innovation and experience of Alberta’s resource industry to create transitional energy and sustainable infrastructure solutions for commercial markets and communities, in Canada and globally . Currently, FutEra is developing a co-produced geothermal and natural gas hybrid power project in Swan Hills, Alberta.

www.futerapower.com

For additional ImFelmaplease vsoNTact:

Doug bailey

Kevin braun

President and CEO

Financial director

Razor Energy Corp.
800, 500-5e Ave SW
Calgary, Alberta T2P 3L5
Telephone: (403) 262-0242

READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This press release may contain certain statements which may be considered as forward-looking statements. These statements relate to possible future events, including, but not limited to, the Company’s investment program and other activities such as the development of geothermal projects and other innovative projects on the plan. environmental and social. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “believe”, “expect”, “plan”, “estimate”, “potential”, “will”, “Should”, “continue”, “may”, “objective” and similar expressions. Forward-looking statements are based on certain key expectations and assumptions made by the Company, including, but not limited to, expectations and assumptions regarding the availability of capital, applicable legislation, obtaining required regulatory approvals, ” timely execution by third parties of the obligation, the success of future drilling and development activities, the performance of existing wells, the performance of new wells, the Company’s growth strategy, general economic conditions, availability of required equipment and services, prevailing commodity prices, price volatility, price differences and the actual prices received for the Company’s products. While the Company believes that the expectations and assumptions upon which forward-looking statements are based are reasonable, forward-looking statements should not be relied upon because the Company cannot guarantee that they will prove to be correct. Because forward-looking statements deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently expected due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry and geothermal power projects in general (e.g. variability in geothermal resources; such as uncertainty in reserve estimates; uncertainty of estimates and projections relating to production, costs and expenditure, and risks to health, safety and the environment), fluctuations in electricity and raw material prices and exchange rates, changes in legislation affecting the oil, gas and geothermal industries and uncertainties resulting from delays or potential changes in plans for exploration or development projects or capital expenditures. In addition, the Company cautions that COVID-19 could continue to have a material adverse effect on global economic activity and global demand for certain commodities, including crude oil, natural gas and NGLs. , and could continue to cause volatility and disruption of global supply. chains, operations, people mobility and financial markets, which could continue to affect commodity prices, interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. The duration of the current volatility in commodity prices is uncertain. Please refer to the risk factors identified in the Company’s Annual Information Form and MD&A which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and the Company does not undertake to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

ADVISORY INFORMATION ON PRODUCTION: Unless otherwise stated herein, all production information presented herein is presented on a gross basis, which is the direct interest of the Company before deduction of royalties and without including royalty interest.

BARRELS OF OIL EQUIVALENT: The term “boe” or barrels of oil equivalent can be misleading, especially if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas per barrel of oil equivalent (6 Mcf: 1 barrel) is based on an energy equivalent conversion method primarily applicable at the burner tip and does not represent an equivalence of value at the wellhead. In addition, since the value ratio based on the current price of crude oil, relative to natural gas, is significantly different from the energy equivalence of 6: 1; using a 6: 1 conversion ratio can be misleading as a value indication.

Or the TSX Vemture EXcash or his Rregulation Servivses Probouncer (like this tuh is defined in the Strategies of the TSX Vemture EXchange) onevsvsephis responsibility For adequacy or avscurity of this neversion ws.



Source link

]]>
Snowball, Avalanche, or Debt Consolidation – Which Is Better For Debt Elimination http://www.medielys.com/2021/08/04/snowball-avalanche-or-debt-consolidation-which-is-better-for-debt-elimination/ Wed, 04 Aug 2021 07:00:00 +0000 http://www.medielys.com/2021/08/04/snowball-avalanche-or-debt-consolidation-which-is-better-for-debt-elimination/ If you are currently in debt, you are probably looking for a way out. Fortunately, you have several options: snowball debt, debt avalanche, and debt consolidation loans. In this article, we’ll cover what each is and their respective pros and cons, so you can choose the one that best suits your financial needs. What is […]]]>


If you are currently in debt, you are probably looking for a way out. Fortunately, you have several options: snowball debt, debt avalanche, and debt consolidation loans. In this article, we’ll cover what each is and their respective pros and cons, so you can choose the one that best suits your financial needs.

What is the debt snowball method?

Debt snowball is a method of debt repayment that prioritizes paying off smaller amounts of debt first. You will continue to pay the minimum amounts on all of your debts to avoid late fees or damage your credit card, but any extra money will go directly to the smaller debt. Once that is paid off, you will focus on the second smallest debt, etc.

Pros and Cons of the Debt Snowball

The debt snowball is very motivating and well suited for people who need the extra encouragement to pay off their debt. However, since you are focusing on the smallest debts rather than the highest interest rates, you might not save that much money overall.

Best for: People who need an extra dose of encouragement to finally cross the finish line debt free.

What is the debt avalanche method?

The Debt Avalanche Method is a repayment method that first focuses on eliminating debt with the highest interest rates. You will still make all of your minimum payments, but instead of the smaller amount, you will be spending your extra money on debt with the higher interest rate. Once this is fully paid off, you will move to the second highest interest rate, and so on.

Advantages and disadvantages of the debt avalanche

The debt avalanche method is the best way to save the most money overall because you will be saying goodbye to those high interest amounts. However, paying off these debts can take some time, which can be daunting for some.

Best for: People who want to save that money and scrap those high interest payments.

What is debt consolidation?

Debt consolidation involves combining multiple debts into one payment which ideally has a lower interest rate. With a debt consolidation loan, you will transfer multiple debts to a single monthly payment with a fixed repayment period.

Pros and Cons of Debt Consolidation Loans

Debt consolidation loans usually have lower interest rates than credit cards, so you can save money. They also make it easier to pay bills, since you only have to worry about one payment per month.

Best for: People who want to make paying their bills easier and saving money at the same time.

Conclusion: which one is right for me?

The best debt elimination strategy is the one that best meets your financial needs and, ultimately, one that you can stick to. Whether you need to pay off your own Oprah debt (debt snowball), a way to ruthlessly save money (debt avalanche), or a method to make paying your bills less of a nightmare. , We have what you need.



Source link

]]>
Settlement with state bans debt collection firms in Buffalo http://www.medielys.com/2021/05/07/settlement-with-state-bans-debt-collection-firms-in-buffalo/ Fri, 07 May 2021 04:37:24 +0000 http://www.medielys.com/2021/05/07/settlement-with-state-bans-debt-collection-firms-in-buffalo/ Three companies agreed to pay $ 66 million for using illegal tactics to trick people into paying more than they owed. BUFFALO, NY – Buffalo-based debt collection businessmen and their companies have been banned from debt collection. NYS Attorney General Letitia James announced the settlement Thursday in Buffalo. According to the AG’s office, Douglas MacKinnon, […]]]>


Three companies agreed to pay $ 66 million for using illegal tactics to trick people into paying more than they owed.

BUFFALO, NY – Buffalo-based debt collection businessmen and their companies have been banned from debt collection.

NYS Attorney General Letitia James announced the settlement Thursday in Buffalo.

According to the AG’s office, Douglas MacKinnon, his companies Northern Resolution Group, LLC and Enhanced Acquisitions, LLC, as well as Mark Gray and his company Delray Capital, LLC, have agreed to a regulation banning them and their companies, collect their debts and pay more than $ 66 million.

Investigators say MacKinnon, Gray and their companies tried to collect more than consumers were legally required to pay and used illegal tactics to secure payment.

They say the collections often demanded consumers pay an inflated price, forcing them to pay thousands of dollars they didn’t legally owe.

Collectors falsely told consumers they would be arrested for check fraud and prosecuted. They also used identity theft to make it look like they were calling from a government agency.

“There is no tolerance for individuals who use illegal and unreasonable tactics to deceive consumers with their hard-earned money,” Attorney General Letitia James said in a statement. “Not only did the defendants force consumers to pay more than they owed, they falsely threatened to arrest consumers for not complying with these predatory practices. This regulation demonstrates our commitment to protect consumers and I thank the CFPB for its partnership to put an end to this exploitation scheme.

MacKinnon and Gray owned debt collection businesses across the country, but most of the offices were located in the Buffalo Niagara area.

People who feel they have been abused can file a complaint on the the GA website or call (716) 853-0404 and could possibly get their money back.



Source link

]]>
Argentina regains its breath thanks to crucial debt deal: for now http://www.medielys.com/2021/05/07/argentina-regains-its-breath-thanks-to-crucial-debt-deal-for-now/ Fri, 07 May 2021 04:37:24 +0000 http://www.medielys.com/2021/05/07/argentina-regains-its-breath-thanks-to-crucial-debt-deal-for-now/ Through Cassandre Garrison, Rodrigo Campos BUENOS AIRES / NEW YORK (Reuters) – Argentina has found its breath after restructuring nearly all of the $ 65 billion in foreign bonds, though it now faces a huge challenge to kick-start growth and repair public finances before the oxygen runs out. Argentine President Alberto Fernandez (R), Vice President […]]]>


BUENOS AIRES / NEW YORK (Reuters) – Argentina has found its breath after restructuring nearly all of the $ 65 billion in foreign bonds, though it now faces a huge challenge to kick-start growth and repair public finances before the oxygen runs out.

Argentine President Alberto Fernandez (R), Vice President Cristina Fernandez de Kirchner and Economy Minister Martin Guzman attend a press conference to give details on the deal with major private creditors to restructure sovereign debt of Argentina, at the Presidential Palace Casa Rosada, in Buenos Aires, Argentina August 31, 2020. Juan Mabromata / Pool via REUTERS

The South American grain producer said on Monday it had restructured 99% of qualifying bonds in its debt deal after nearly all bond holders pledged, a major victory for the mired Argentina in recession and default.

The country has also converted $ 8 billion in local dollar debt through voluntary swaps and is near the finish line to restructure more than $ 40 billion in local law dollar borrowings.

“Taken together, these deals will give the government much needed respite as it tackles the devastating fallout from the coronavirus crisis,” Capital Economics’ Nikhil Sanghani said in a post-deal memo.

He added, however, that Argentina’s dollar debt remained high and the risk of another default would increase over time, especially with low reserves, downward pressure on the peso and stubborn inflation.

“The bottom line is that Argentina’s public debt is no longer a short-term concern. But he’s likely to show his ugly face within a few years, ”Sanghani said.

First on the agenda will be the swap of local-law dollar debt, sorting out provincial debt restructurings, and attention to negotiating a new deal with the International Monetary Fund to replace a facility. of $ 57 billion in failure as of 2018.

The government is also expected to present its budget for 2021 this month, which will give an idea of ​​its plan to revive an economy likely to contract by about 12.5% ​​this year, the third consecutive year of recession.

“It’s up to Argentina, in the current administration, to come up with a program that will boost the growth of their country, and it’s going to be difficult,” said Eric Baurmeister, senior portfolio manager at Morgan Stanley Investment Management and head of its the debt markets team.

CLOSE THE MARKETS

Without a clear economic agenda, Baurmeister said, yields on the country’s new sovereign bonds, which are expected to be issued on September 4, will be high, given the perception of risk.

“The yields will be high, they will effectively be excluded from foreign markets for a very long time,” he added.

Investors look at the output yield of new bonds when they start trading, which people say is between 10% and 12%.

Argentina bonds, which collapsed last year, have soared in recent days in limited trading, with most of those involved in the restructuring hovering between 40 and 50 cents on the dollar. The offer had an average valuation of 54.8 cents at an exit yield of 10%.

The deal also opens the door for Argentina to escape its ninth sovereign default after missing a bond payment in May, although rating agencies have said they are watching what happens with local restructuring.

“We are awaiting the results of the two debt exchanges, external and local, to assess whether Argentina has remedied its default and what its exit rating will be,” said Todd Martinez, director of Latin American sovereigns at Fitch. Ratings.

Lisa Schineller of S&P said the agency may move forward on the issue of default and ratings once new bonds are issued and local-law debt is resolved.

“Once the settlement is done, we could raise the issuer’s credit ratings and assign new credit ratings to the bonds,” she said, adding that these tended to be grade B- or CCC.

“We will have to look at the new profile, the new political position. The perception that there was more risk would keep it more in a CCC category, ”she added.

Reporting by Cassandra Garrison and Rodrigo Campos; Additional reports by Marc Jones; Editing by Adam Jourdan and Dan Grebler



Source link

]]>
Croatia’s health debt to be financed through reallocation and cost cuts – EURACTIV.com http://www.medielys.com/2021/05/07/croatias-health-debt-to-be-financed-through-reallocation-and-cost-cuts-euractiv-com/ Fri, 07 May 2021 04:37:24 +0000 http://www.medielys.com/2021/05/07/croatias-health-debt-to-be-financed-through-reallocation-and-cost-cuts-euractiv-com/ The funds needed to settle the debt of the Croatian health system will be secured through a reallocation and revision of the budget as well as cost reductions, Finance Minister Zdravko Marić said on Thursday. Marić briefed parliament on the debt settlement plan whereby payments to cover part of the debt to drug wholesalers in […]]]>


The funds needed to settle the debt of the Croatian health system will be secured through a reallocation and revision of the budget as well as cost reductions, Finance Minister Zdravko Marić said on Thursday.

Marić briefed parliament on the debt settlement plan whereby payments to cover part of the debt to drug wholesalers in April and May would be secured through budget reallocations, while the government would revise the 2021 national budget in June. .

In two or three weeks, a convergence plan with macroeconomic and fiscal projections will be put on the government’s agenda and the document will serve as the basis for reviewing the budget, Marić said.

He reiterated that the health care debt had increased by an additional 400 million kuna (53 million euros) per month in recent months. The minister said the revenue side of the health budget had performed better than expected, but the expenditure needed to be addressed.

Marić reassured the general public that there was no need to worry about the drug supply. He said the outcome and the agreement reached at Wednesday’s meeting with the drug wholesalers was a short-term solution, and stressed that a long-term solution required reform of the health system. (Željko Trkanjec | EURACTIV.hr)



Source link

]]>
Robodebt victims referred to debt collectors even after government-recognized program was illegal | Centrelink debt collection http://www.medielys.com/2021/05/07/robodebt-victims-referred-to-debt-collectors-even-after-government-recognized-program-was-illegal-centrelink-debt-collection/ Fri, 07 May 2021 04:37:24 +0000 http://www.medielys.com/2021/05/07/robodebt-victims-referred-to-debt-collectors-even-after-government-recognized-program-was-illegal-centrelink-debt-collection/ Nearly 1,000 robodebt victims have had their debts sent to an outside debt collector, even after the government admitted in court that the program was illegal, new figures show. Commonwealth Ombudsman report released last month lambasted Services Australia for failing to halt all debt collection activities after November 2019, when the Morrison government agreed his […]]]>


Nearly 1,000 robodebt victims have had their debts sent to an outside debt collector, even after the government admitted in court that the program was illegal, new figures show.

Commonwealth Ombudsman report released last month lambasted Services Australia for failing to halt all debt collection activities after November 2019, when the Morrison government agreed his method of raising debts was “legally insufficient”.

In response to questions posed in a Senate inquiry, released Wednesday, the agency that managed the program revealed that it continued to accept reimbursements from more than 123,500 people after that date.

And there were 961 people who “had debts like this that were referred to an outside debt collector” who then required “remediation,” he said in another response.

One of the main complaints among victims of the scheme has been the conduct of outside debt collectors, with a robodebt beneficiary being tracked down telling Guardian Australia last year that he receives counseling to discuss period trauma.

Of the 123,500 people who continued to pay debts after the government accepted its program to be illegal, the agency said the “majority” had “made their last repayment on those debts by February 29, 2020. “.

“The process of reviewing a client file to identify the use of income averaging in debt financing and the freezing of debt collection required manual action by a member of staff at the agency, ”he said.

The agency announced a refund process at the end of May, after being previously revealed by The Guardian in March, and the money started flowing in July 2020.

Services Australia said debts generated using the illegal method which had been sent to external debt collectors were recalled “as soon as the debt was identified for repair”.

In a previous response to the ombudsman, the agency argued that it would have been confusing for clients to stop all debt collection because some people’s debts were legitimate.

He said he couldn’t just stop the collection of the faucets – thrown using the illegal method of “income averaging” – because each had to be manually identified by staff during a process. that took months.

But the mediator said he should have put a general pause on debt collection because it was unacceptable for the agency to continue to accept payments on debts which it “knew had a high probability of being. lifted for “legally insufficient” reasons “.

The ombudsman’s report also noted that the agency itself acknowledged that there were risks that some illegal debts were not identified by staff during its process.

Services Australia told the Senate inquiry in a response released Wednesday that 486 debts were subsequently identified upon further examination.

The responses also revealed that a robodette valued at $ 21,544.34 had still not been reimbursed to the victim.

The agency said this was because “the former client has yet to update their contact details”, although it is not clear whether the agency had managed to make contact to alert them of their right to reimbursement.

Services Australia said at a Senate hearing on Monday on estimates that it had reimbursed $ 724 million in robodet reimbursements, or 96.4% of all victims.

It comes as Federal Court considers $ 1.2 billion settlement with a class action lawsuit led by Gordon Legal on behalf of over 400,000 robodebt victims.

Hearings to review the settlement will be held in Federal Court on Thursday and Friday.



Source link

]]>
US restores sovereign immunity to Sudan, authorizes funds to help pay off debt http://www.medielys.com/2021/05/07/us-restores-sovereign-immunity-to-sudan-authorizes-funds-to-help-pay-off-debt/ Fri, 07 May 2021 04:37:24 +0000 http://www.medielys.com/2021/05/07/us-restores-sovereign-immunity-to-sudan-authorizes-funds-to-help-pay-off-debt/ Through Nafisa Eltahir, Humeyra Pamuk CAIRO / WASHINGTON (Reuters) – The United States on Monday restored sovereign immunity to Sudan, as the United States Congress passed a law formalizing the decision, after the designation of Sudan as the sponsoring state of the country ended. terrorism. However, the legislation includes an exemption allowing the families of […]]]>


CAIRO / WASHINGTON (Reuters) – The United States on Monday restored sovereign immunity to Sudan, as the United States Congress passed a law formalizing the decision, after the designation of Sudan as the sponsoring state of the country ended. terrorism.

However, the legislation includes an exemption allowing the families of victims of the September 11, 2001 attacks on the United States already underway in U.S. courts to move forward, although experts say Sudan is unlikely to lose those things.

The designation of a state sponsor of terrorism, which had been in place for almost three decades, had weighed on Sudan’s economy and restricted its ability to receive aid. For investors, restoring sovereign immunity removes another layer of financial risk.

Sudan had been engaged in talks with the United States for months and paid a negotiated settlement of $ 335 million to victims of Al Qaeda attacks on US embassies in East Africa in 1998, which had received much higher damages from US courts.

The process of unlocking the settlement money and restoring Sudan’s sovereign immunity – protection from lawsuits in US courts – had been blocked in the US Congress because it was tied to the $ 892 billion aid package. dollars against coronaviruses.

Late Monday, the larger package was passed by the US Congress after a deal was worked out in a rare weekend session and sent to President Donald Trump to enact legislation.

According to the bill, Washington will authorize $ 111 million to repay part of Sudan’s bilateral debt and $ 120 million to help repay its debt to the International Monetary Fund (IMF) while making an additional $ 700 million available up to ‘in September 2022 for aid to the country. .

Last week, the Sudanese finance minister announced an American “bridge loan” that would allow Sudan to clear $ 1 billion in arrears to the World Bank.

A US source familiar with the matter said the debt aid would help kickstart Sudan’s debt relief globally, thereby helping to make it eligible for the IMF’s Heavily Indebted Poor Countries (HIPC) program. .

With sovereign immunity and financial aid restored, Khartoum will now be “on the hook” to normalize relations with Israel, said a US source familiar with the matter, a move it accepted under US pressure. .

The US-Sudanese developments “certainly” meant progress towards an agreement between Israel and Sudan, Israeli Intelligence Minister Eli Cohen told Ynet TV, adding: “We will be witnessing a signing ceremony in the weeks or months. future “.

In a joint statement in October, Israel and Sudan said they had agreed to normalize relations and end the state of belligerence between the two countries, but Sudanese civilian leaders said the final decision would be between the hands of a country to come. formed a transitional legislature.

Normalization would make Sudan one of four Arab countries with the United Arab Emirates, Bahrain and Morocco, in recent months, to establish relations with Israel under agreements negotiated with the help of the United States. .

The bill also appropriates an additional $ 150 million for the payment of Sudan’s settlement, to redistribute funds in a way the bill’s sponsors deem more equitable.

The United States designated Sudan as the sponsor state of terrorism in 1993 on the grounds that the regime of former President Omar al-Bashir supported militant groups including al-Qaeda, Hamas and Hezbollah.

In the 1990s, the regime became an outcast, welcoming Osama bin Laden and positioning itself as a backbone of Islamist movements, although experts still say Sudan’s responsibility for the September 11 attacks is questionable.

Reporting by Nafisa Eltahir and Humeyra Pamuk; Editing by Robert Birsel, William Maclean



Source link

]]>