Can I share my credit card with my college student? Should I?

College has started for the school year and kids are leaving home. Parents are trying to balance their children's financial needs with financial wants. Credit cards are such a natural extension of our consumer world, it is almost impossible to operate without them. Can you give your child a card and if so how?

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There are a couple ways. You can make them an authorized user on your card. They have access to the credit but you maintain responsibility for the debt. The draws backs there are obvious. If you have an out-of-control spender, they have all the upside and the cardholder has all the liability.

You could open an account as a joint account. This places responsibility on both parties. The draw back here is liability can go both ways. If you have a parent who over spends or becomes unemployed and can no longer pay the debt, the financial liability will fall on the child or other account holder. The unintended consequences can go either way.

Another option may be for a parent to see if they can find a bank to grant their child a secured credit card. The parents can deposit money against the card and let the student be responsible. This could help start a credit history for the student as well.

Finally, there is the debit or cash card parents can use to limit spending. The parents can fund an account or card and let the student manage his or her money. The student is responsible for planning and spending the limited funds allotted to him or her. There is merit to building these types of life skills too.

We all want our kids to be successful and flourish in school. These are some options to help give students the independence they need. The second two options can help parents limit their liability and promote learning the importance of money management. I hope everyone one has a happy and productive school year.

If you want assistance, legal representation, or just want to know more about Mark M. Medvesky or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

#Bucks #lawyer #lawyers #Attorney #Montgomery #Pottstown #Souderton #Law_Firm #Debt #credit_cards #Pennsylvania  

From USCIS Website - Transferring Cases From Vermont Service Center to California Service Center

This transfer has the potential of causing confusion. If you have a pending case, please read and pay close attention to any notices you may receive.

Direct from USCIS:

"In order to balance workloads, USCIS recently began transferring some cases from the Vermont Service Center to the California Service Center. The affected cases include:

• Form I-130, Petition for Alien Relative
• Form I-751, Petition to Remove the Conditions on Residence

How You Will Be Affected

If your Form I-130 case is being transferred, we will send you a notice listing the transfer date and the new location where your case will be processed. Your original receipt number will not change and this will not delay your case’s processing except for the additional time needed to transfer the file to the new location.

If your Form I-751 case is being transferred, we will send you a notice listing the transfer date and the new location where your case will be processed. Your original receipt number will not change and this will not delay your case’s processing except for the additional time needed to transfer the file to the new location.The words “Case Type: CRI89 Approved Removal on Conditions” will be printed on the transfer notice. This refers to your pending Form I-751. The transfer notice may not contain the original receipt number of your pending Form I-751.

The filing location and instructions for these forms will not change. Please continue to file the forms at the address noted on the form instructions and on the USCIS website at www.uscis.gov.

How to Track the Status of Your Case

You can check the status of your case by entering your receipt number in Case Status Online. You can also sign up to receive automatic case status updates by email.

If you do not receive a decision within the published processing time for the California Service Center then you may submit an inquiry using e-Request or call the National Customer Service Center at 1-800-375-5283. For TDD for the deaf and hard of hearing, call 1-800-767-1833.

When calling to ask about your case status, tell us your original receipt number and that your case was transferred to a new location.

If we send you any notice, such as a request for evidence, please read the notice carefully. Make sure you respond to the same service center that sent you the notice.

If you move while your case is pending, then you must tell us your new address as soon as possible after you move so we can notify you of any action on your case. You can change your address online or by calling the National Customer Service Center."

If you want to know more about Mark Medvesky or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com

#BucksCounty #Immigration #lawyer #lawyers, #MontgomeryCounty #Souderton #Law_Firm

Power-of-Attorney: They may be your "babies" ... but they aren't babies anymore

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This is the time when college students are packing up and leaving home for the school year. For those who are becoming "empty nesters." many things are changing for them. One of those things is their legal role in their children's lives. Their children have become adults as far as the law is concerned.

If something happens now and parents need to intervene, they may not be able to do so just because they are parents. HIPPA and other privacy laws may now apply to them. Also, the new college students are adults and are bound to their agreements. If someone wants or needs to assist the student with something like dealing with an apartment lease, that person, even a parent, my need to be granted the power to negotiate a resolution. Parents may no longer exercise power by virtue of being a parent.

One way to gain that power is for the child to give Power-of-Attorney to his or her parents. This will allow parents to step in to assist during an emergency. This may be a good time to talk to your "baby" about Powers-of-Attorney and their value. This is a document that is better to have and not need it than to need it and not have it. To find out more, talk to an attorney.

 If you want assistance, legal representation, or just want to know more about Mark M. Medvesky or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

#Bucks_County #lawyer #lawyers, #MontgomeryCounty #Souderton #Law_Firm #Wills #Power-of-Attorney #Living_Will #Healthcare #Trusts 

Estate Planning: Debunking Some Myths and Considering Your Legacy

Original  article by R. Kurtz (Kurt) Holloway from our website:

A well thought-out estate plan is important. A plan offers you the opportunity to make decisions and do things that will give you peace of mind. Similarly, it will spare your family and loved ones unnecessary stress, confusion and other unpleasant experiences and help avoid arguments between family members. Further, your plan sends a message about how much you cared for people, your favorite charity or both. A plan is part of the legacy you leave.



Image courtesy of photostock at FreeDigitalPhotos.net

Unfortunately, people have some common misconceptions about estate planning. Debunking the myths gets us on the road to achieving all of these benefits. Some of the more common myths include:

Myth 1: Estate planning is only for wealthy people.
 
Myth 2: Estate planning is complicated.

Myth 3: You need a will to prevent your estate from being taken by the government when you die.

Myth 4: Your estate plan should focus on how to save the most taxes.
 
Myth 5: Estate planning is expensive.
 
Myth 6: Estate planning is only about distributing your assets.

Kurt's article discusses the Myths in greater detail. Check it out. If you want assistance, legal representation, or just want to know more about R. Kurtz Holloway or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

#Bucks_County #lawyer #lawyers, #MontgomeryCounty #Souderton #Law_Firm #Wills #Power-of-Attorney #Living_Will #Healthcare 

Summary Of The Fair Debt Collection Practices Act

The federal Fair Debt Collection Practices Act (Act) is the main federal law that governs debt collection practices. The Act prohibits debt collection companies from harassing you by using abusive, unfair or deceptive practices to collect past due debts from you.
Some examples of prohibited acts are:

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• Repetitious phone calls that are intended to annoy, abuse, or harass you or any person answering the phone
• Obscene or profane language
• Threats of violence or harm
• Publishing lists of people who refuse to pay their debts (this does not include reporting information to a credit reporting company)
• Calling you without telling you who they are

The Act covers personal debt, not debts for business purposes. It also does not generally cover collection by the original creditor to whom you may owe the debt. Rather, it governs the actions of third party debt collectors. Pennsylvania has a statute that extends these same types of protections to consumers from actions by the original creditor...

This article continues and the original can be found on our website here or generally go to www.whhmlaw.com for more information on our firm.

#Bucks #lawyer #lawyers #Attorney #Montgomery #Pottstown #Souderton #Law_Firm #Debt #Collection #Pennsylvania

Bankruptcy - Other chapters providing bankruptcy protection

This will be a short post. As bankruptcy attorneys, we are obligated to tell out clients about other protections available to debtors. In fact, the Trustee asked  them at the creditors meeting if they have received notice of the other protections available. Chapters 11 and 12 can provide protection to a limited number of consumer debtors.
 
"Chapter 11 is designed for the reorganization of a business but is also available to consumer debtors. Its provisions are quite complicated, and any decision by an individual to file a chapter 11 petition should be reviewed with an attorney." This chapter is generally used by individuals with high value assets.


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"Chapter 12 is designed to permit family farmers and fishermen to repay their debts over a period of time from future earnings and is similar to chapter 13. The eligibility requirements are restrictive, limiting its use to those whose income arises primarily from a family-owned farm or commercial fishing operation." Again, a protection for a very specific group of debtors.

So if you read things about other consumer bankruptcy protections, these two chapters are probably the less know chapters because they are limited. Even though all debtors need to be informed of them, they are of little utility for most people.

If you want assistance, legal representation, or just want to know more about Mark Medvesky or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

*Quotes above from "NOTICE TO CONSUMER DEBTOR(S) UNDER § 342(b) OF THE BANKRUPTCY CODE" from Best Case Bankruptcy - Software Copyright (c) 1996-2014 Best Case, LLC

#bankruptcy #Chapter_7 #Chapter_13 #Montgomery_County #law_firm #Bucks_County #Pennsylvania

 

USCIS Bulletin - Temporary Immigration Relief Measures Available for Individuals Affected by Typhoon Soudelor

Direct from USCIS:

"On August 2, 2015, Typhoon Soudelor caused extensive damage in the Commonwealth of the Northern Mariana Islands (CNMI). USCIS reminds customers affected by Typhoon Soudelor that certain U.S. immigration benefits or relief may be available to them. USCIS understands that a natural disaster can affect an individual’s ability to maintain lawful immigration status or obtain certain other immigration benefits.

Eligible individuals may request or apply for temporary relief measures, including:

   • A change or extension of nonimmigrant status for an individual currently in the United States, even when the request is filed after the authorized period of admission has expired;

   •  Extension or re-parole of individuals previously granted parole by USCIS;

   •  Expedited adjudication of employment authorization applications; and

   •  Assistance to Lawful Permanent Residents (LPR) stranded overseas without immigration or travel documents, such as a Permanent Resident Card (Green Card). USCIS and the Department of State will coordinate on these matters when LPRs are stranded in a place that does not have a local USCIS office.

USCIS may also exercise its discretion to allow for filing delays resulting from the typhoon. This may include, for example:

   •  Assistance to those who have not appeared for an interview or submitted required forms of evidence. You may show how the typhoon prevented you from appearing or submitting documents as required; or

   •  Assistance to those who have not been able to respond to a request for evidence (RFE) or notice of intent to deny (NOID). USCIS will extend the deadline for individuals to respond to RFEs or NOIDs by 30 days. This will apply to all RFEs and NOIDs with a deadline of August 2 through September 2, 2015. During this time, USCIS will not issue denials based on abandonment of an application or petition in the CNMI.

USCIS will continue to monitor the situation and will provide updated guidance as needed.

To learn how to request relief or more about how USCIS assists customers affected by unforeseen circumstances in their home country, visit uscis.gov/humanitarian/special-situations or call the National Customer Service Center at 1-800-375-5283 (TDD for the hearing impaired: 1-800-767-1833).

Please check back at uscis.gov for any additional information that may come later and follow us on Facebook (/uscis), Twitter (@uscis), YouTube (/uscis), and the USCIS blog The Beacon."

If you want to know more about Mark Medvesky or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com

#BucksCounty #Immigration #lawyer #lawyers, #MontgomeryCounty #Souderton #Law_Firm

Bankruptcy - Secured Debt, Unsecured Debt, Priority Debt ... should I care?

When planning a bankruptcy, debtors need to understand the type of debt they have. Usually, debtors have a combination of debts. Most debtors have unsecured debt and some type of secured debt. Some debtors have government debt like taxes, which is classified as priority unsecured debt.  Finally, many people have students loans. The type of debt you have can influence whether you file bankruptcy and what chapter of bankruptcy you might use.

Image courtesy of David Castillo Dominici
at FreeDigitalPhotos.net

Unsecured debt is most commonly with credit card debt, medical bills, personal loans, and debt like that. This is the easiest debt to handle in bankruptcy. Generally, all unsecured debt is discharged in and the debtor is released from paying the debt.

Secured debt is your mortgage and auto loan. This is the type of debt a person has given a property interest, a lien, to the creditor in a specific piece of property like a car, an appliance, or a home. These debts are generally not discharged when you keep the property. If the debtor wants to keep a car for instance, the debtor must be able to pay the loan in full. If the debtor cannot pay the loan and gives up the property, then the amount owed above the value of the property becomes unsecured and can be discharged.

Priority unsecured debt has limitations on discharge-ability. This takes some analysis to determine whether the back taxes can be discharged. Discharging this type of debt is determined by several factors  including when it was access, for what purpose, the taxing authority itself, etc.

Students loans are considered unsecure debt but extremely difficult to discharge. The bankruptcy law distinguishes student loans from other unsecured debt and requires a person to prove "Undue Hardship" before the courts can discharge a student loan. The courts imposed such a high threshold to meet the "Undue Hardship" test that it is nearly for the average debtor to meet the burden.

As a result, the way different type of debt is treated will influence if you file bankruptcy and whether it will be under chapter 7 or 13. If a person has mostly unsecure debt (and make makes the "means test), he or she would probably want to file under chapter 7. People who have secured debt, want to keep the property and is behind on payments will probably need to file under chapter 13. Any combination of debt between these two examples requires a person to sit down with a bankruptcy attorney to help them decide what the benefits and drawbacks are on filing for bankruptcy.

If you want to know more about Mark Medvesky or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

#bankruptcy #Chapter_7 #Chapter_13 #Montgomery_County #law_firm #Bucks_County #Pennsylvania