vania-janet/multiturn-rag-retrieval-data huggingface dataset:
"My parents and I were suckered into buying this kind of thing when I was in high school. The sales people literally told us that it could be used to pay off student loans - they left out the ""in the event of your death"" part. We knew it was a life insurance policy, but were told that it would ""mature"" 6 months after graduation from college, and that it would then be disbursed to pay off loans, even if I didn't die. That seemed strange to us, so we explicitly asked several different ways whether it would pay off the loans after graduation, even if I lived, and they just straight up told us, ""Yes."" I'm guessing this ploy is still being used. Also, last I checked, student loans are non-transferable in the unfortunate event that your child dies - which means the loan is forgiven anyway - so this whole thing seems like garbage to me, at least in the student loan sense. I would steer clear from this stuff - it's pure snake oil in my experience."
"I think you are mistaken because they are consumer funded programs that ultimately get spent at entities that may or may not be corporations.  A lot of hospital networks are 'non-profit', but are still seeing record inflows.  These payments are not tax subsidies to stimulate a corporate activity (the 'truest' type of corporate welfare) or direct funding from the US government, per se.  Your argument is the equivalent of saying:  ""food stamps are nothing but a corporate subsidy for grocery stores"""
Please take a look a Dave Ramsey's Baby Step plan.  It has all the details that you need to clean up your personal finance situation.   None of your options are good.   As some of the other answers mentioned, behavior modification is the key. Any idea will be worthless if you just wind up in debt again.  Many, many people, including me, have made the change using Dave's plan.  You can too. With regard to helping your son with tuition, are there better or cheaper options?  It does not make sense to put yourself in financial peril in order to cover college expenses.  I understand that is a tough decision but he is a man now and needs to be part of the real world solution.  Following the Baby Steps: The biggest factor is a belief that you can fix the mess. 30k is not really that much, with a good plan and focus, you can clean it up.  Good luck.
"CP14h Shared Responsibility payments for Health Care should be paid online at IRS.gov/payments using the Health Care - Form 1040 selection for the appropriate tax year. A normal CP14 is paid online using the ""Tax Return or Notice (1040)"" selection."
One thing that kept me from doing a budget for years is how complex some people make it.  For example you list your gross pay, then deduct the taxes, 401K, FSA, etc...  Why?  Those are pretty consistent. For me, the way this is budgeted is I list my net pay, and go from there.  If you were perfect in predicting your FSA, you would have no medical expenses on your budget!  Simple, easy budget! Now this year, you will probably have to pay out of pocket for some expenses.  Can you predict how much?  Can your disposable income absorb the overages?  If not you will need to start a sinking fund.  That is put a sufficient amount of money into a savings account each month to cover the shortage.    Keep in mind you can go over a bit on your FSA contributions.  If you find yourself near the end of the plan year with extra money, you can also claim mileage reimbursement for your medical appointments.  Since your FSA has a history of those, it is easy to calculate your mileage from your home to the DR's office and submit a claim.
The issue is how likely you will have zero income for six months, and what are your monthly expenses. If you know the maximum medical bill you face that may allow you to save a smaller amount. But you still have to protect for that loss of income. The interuption could be because of job loss, medical emergency, or other family crisis.  If I told you that  the chances you would face a crisis dropped by 50%, would you decide that the need for an emergency fund went away? Or would you still create a fund? I think the need still exists just to avoid the downside if you aren't prepared.
I've always had a job in Healthcare IT, past 11 years, but never went to school for computers. All of my skills came from on the job training or company paid certifications. Instead of taking on debt, take a position at a company that will help with your tuition. In the long run, a company willing to pay for you to get smarter is one you'd want to stay with. In my opinion.
You could do a voluntary repossession. While a repossession never looks good on your credit a voluntary repossession is slightly better. A good friend of mine had a situation like this about 11 years ago. She was in an accident didn't have replacement coverage insurance and was left with a large chunk of debt on a wrecked vehicle that she then rolled into a new car. In the end it came down to the simple fact that she could not afford a car loan on a vehicle that never was worth as much as she owed. Since the car was worth less than the loan she really couldn't sell it to fix the problem. She called and arranged a voluntary repossession. She stopped making payments, and parked the car till they came and picked it up. (Took about 4 months and 20 phone calls from her for them to come get it.) In the mean time, I purchased her a much older used but decent car for a couple thousand and she paid me back over the next year. The total she paid me back was less than the money she would have paid in the 4 months it took them to come get the car. In fact by the time they picked up the car she had paid back over half on the car I bought her. Yes the repossession did stay on her credit for seven years but during that time she was approved for a mortgage, cellphone plans, and credit cards etc. Therefore I don't know that it did that much damage to her credit. When her car was sold at auction by the repo company it sold for much less than the loan amount. Technically she was on the hook for the remaining amount. The outstanding balance on the loan was then sold several times to several different collection agencies. Over the years since then she has gotten letters every now and then demanding she pay the amount off, she ignores these. Most of these letters even included very favorable terms (full forgiveness for 20% of the amount) At this point the statute time has run out on the debt so there is no recourse for anyone to collect from her. The statute time limit varies from state to state. Some states it is as long as 10 years in others it is as short as 3 years.
Basically, what you describe exists in many countries - not in the USA though. In Europe, people have checking accounts with allowed overdraft, typically three month net salaries. You can just this money any day as you like, and pay it back - completely or partially - any day as you like. Interest is calculated for each day on the amount used that day; and the collateral is 'future income', predicted / expected from previous income. In the USA, credit cards have taken its place, with stricter different rules and limitations. In addition, many of the extra rules in loans were invented to take advantage of the ignorance or situation of the borrower to make even more money. For example, applying extra payments to future due payments instead of to the principal makes that principal produce more interest while the extra payments just sit around.
"Your CHMC insurance is payable to the lender not to you if you default. So technically you get nothing from it. However the likelihood is that you could not have got this loan, or got it only at an extremely high interest rate, without this insurance. The Canadian government has a page on CHMC, including a link to a page called ""What's in it for you?""."
"There is no formula that can be applied to most variations of the problem you pose.  The reason is that there is no simple, fixed relationship between the two time periods involved: the time interval for successive payments, and the time period for successive interest compounding. Suppose you have daily compounding and you want to make weekly payments (A case that can be handled).  Say the quoted rate is  4.2% per year, compounded daily Then the rate per day is 4.2/365, or 0.0115068 % So, in one week, a debt would grow through seven compoundings.  A debt of $1 would grow to 1 * (1+.000225068)^7, or 1.000805754 So, the equivalent interest rate for weekly compounding is 0.0805754% Now you have weekly compounding, and weekly payments, so the standard annuity formulas apply. The problem lies in that number ""7"", the number of days in a week.  But if you were trying to handle daily / monthly, or weekly / quarterly, what value would you use? In such cases, the most practical method is to convert any compounding rate to a daily compounding rate, and use a spreadsheet to handle the irregularly spaced payments."
Hi guys, I have a difficult university finance question that’s really been stressing me out....  “The amount borrowed is $300 million and the term of the debt credit facility is six years from today  The facility requires minimum loan repayments of $9 million in each financial year except for the first year.  The nominal rate for this form of debt is 5%. This intestest rate is compounded monthly and is fixed from the date the facility was initiated.  Assume that a debt repayment of $10 million is payed on 31 August 2018 and $9million on April 30 2019. Following on monthly repayments of $9 million at the end of each month from May 31 2019 to June 30 2021.  Given this information determine the outstanding value of the debt credit facility on the maturity date.”  Can anyone help me out with the answer? I’ve been wracking my brain trying to decide if I treat it as a bond or a bill.  Thanks in advance,
My understanding is that it works as you describe.  Is this really a loophole? You could call it that if you want, but let's look at what really is happening. You get the tax deduction when you put money into the HSA, not when you take money out. And you can only put money in when you have the HSA-eligible High Deductible Health Plan (HDHP) in place.  While you had the non-HSA eligible plan in place (presumably a more expensive low deductible health plan), you somehow incurred $5000 of out-of-pocket expenses. This is real money that you had to pay out.  Finally, you went back to the HDHP and began contributing to the HSA again, taking the tax deduction as you put money in, subject to the contribution limits. The money that is in the HSA is yours, and you had legitimate out-of-pocket medical expenses. Are you really cheating anybody out of anything if you choose to take that money back out? I don't think so.
"Not sure what you mean by ""missing"". Credit card debt can be paid back in full when you get the bill, or you can ""take a loan"" and ""pay in installments"". If you do the latter, and pay back at least the minimum required amount on time, you are not ""missing"" your payment. Technically, you are taking a small, but expensive loan, and if you pay that loan back according to the terms and conditions that apply to your credit card, this is reported to the credit bureau and improves your credit. If you are really ""missing your payment"", paying late (more than a few days), less than minimum or nothing at all, this won't help to improve your credit. A ""first-time offender"" won't always be reported to the credit bureau, but if he is, it won't be a positive report."
You have not specified what country you are in. That radically changes everything. In case you are in Canada, there's a great blog that covers bankruptcy and student loans, at http://student-loan-bankruptcy.ca/. Fundamentally, in order to discharge government-backed student loans, you must have ceased to be a student for at least seven years prior to filing. Even then, though, the government can object, in which case you will still have to repay some or all of the loan. More generally, given that the collection agency appears to be operating in bad faith, you'll want to ensure that they send you written documentation of any offer they are extending you. If they refuse to do this, you should assume that they aren't actually offering you anything at all and you will have to pay back the full amount plus interest and penalties. Note that, in many countries, if you settle the debt (that is, pay anything less than the full amount plus interest and penalties), this will be a black mark on your credit report. In this case, if you repaid the full $16,000 and they forgave the extra $4,000, they would most likely still add a note to your credit report indicating that you did not pay the full amount that you owed, and this will negatively impact your credit rating even beyond your late payments.
"Although Social Security &amp; Medicare have been known to be some of the most efficient government-run programs, their future is dismal. With increase in life expectancy and rising unemployment (and extensions on unemployment insurance), something has to give. Because of the severe recession, Medicare is now paying out more than it receives.   Some of the programs I think the federal government spends too much money on include: agricultural subsidies,""nudge""-style 'tax expenditures/selective tax breaks; and land-based Cold War military systems."
http://www.bills.com/private-student-loan-settlement/ Here is a page that seems to have specific advice on the matter.  This site speculates that even though the private loan industry does not have to settle (and the private student loans, like federal loans cannot be discharged with a bankruptcy) they sometimes will anyway. http://www.huffingtonpost.com/2012/08/14/private-student-loans-bankruptcy-law_n_1753462.html ...   If she could file bankruptcy to erase the private student loan debt   she owes to Sallie Mae, she would. But because of a 2005 reform law,   private student loans cannot be discharged in bankruptcy, except in   extremely rare cases.  ... The advice that works for you is the same advice with negotiating any debt.  Get it in writing that the amount will constitute payment in full.  Be sure that the written agreement makes some mention of how they will report it on your credit.  (You are going to take a credit hit if you settle, but time will heal that.) The best plan is to pay, but if you can't, and you can honestly prove you can't, the debt collection company would be foolish to not take a settlement.  They can wait around forever and sue you, add penalties and fees, but if you cannot pay, you cannot pay.   I am going to guess because you are dealing with a debt collector, they are less vested in collecting the full amount.  So get that settlement offer in writing.  And don't be too much of a hard core negotiator.  The power is all on their side.  You will likely have to appeal to the greed of the collection company to succeed.  Hope they would rather have $.50 today than $1.25 tomorrow.
Since you make so little, taxes would only be around $214 a month.That leaves $49 for saving/spending/emergencies. I live in a state that has very good support for the ACA as well, so the $300 credit roughly covers the cost of the monthly premium. The deductible is obviously still impossible to pay, but you don't get hit with the penalty at year end and the hospital still gets mostly paid, and you might just be able to avoid bankruptcy if the hospital is willing to negotiate the payment plan with you. So what are the conclusions here? It's possible to skate by for a short while, assuming you can live without any social life, stay healthy, and have no emergencies. You also need the self discipline of a Buddhist Monk, and to live in an area that supports a minimum wage relative to living costs and the ACA.
Actually, they'd just forego healthcare and either die when they get sick or go bankrupt.  I agree with you on the income guarantee, though.  It avoids many of the worst problems with our various government programs, particularly in regard to punishing people for starting to succeed a little.
I was in a similar situation years back and I refused to pay the bill. My point of view was that I provided the hospital with all information needed to submit the claim in a timely matter and that I should not be held responsible for their failure to do so. In the end they waived the charges. So while technically I might have been responsible for paying the charges, in reality I think they decided it wasn't worth the hassle of making me (I would have fought it all the way up to the top). Not sure that I would recommend this approach though :)
First Reddit comment! This may seem like a noob question, but why can't the government just borrow unlimited amount of money, to pay for welfare program instead of raising taxes? I would assume that would be the better thing to do, and just roll the debt forward. Thanks!
I understand that if I have multiple health insurance policies, I can only make claim from only one of them if ever I incur medical expenses (I'm from the Philippines). In the US, you cannot simultaneously submit a claim for payment of a medical bill, or request reimbursement for a bill already paid, to multiple insurance companies, but if you are covered by more  than one policy, then any part of a claim not paid by one company  can be submitted to another company that is also covering you. In fact, if you have employer-paid or employer-provided coverage, most  insurance companies will want your employer-provided insurance company  to be billed first, and will cover whatever is not paid by the employer coverage. For example, if the employer coverage pays 80% of your doctor's bill, the private insurance will pay the remaining 20%. But, the private  insurance policies are also quite expensive.  Some professional groups in the US offer major medical coverage to  their US members, and might be offering this to non-US members as well (though I suspect not).  These policies have large deductibles so that coverage kicks in only when the total medical expenses in that year (whether wholly or partially reimbursed, or not reimbursed at all) exceed the large deductible.  These types of policies actually pay out to only a few people - if you have more than, say, $20,000 of medical expenses in a year, you have been quite ill,  and thus the premiums are usually much smaller than full-fledged coverage  insurance policies which pay out much more frequently because of much smaller deductibles.
Why don't obtain payday loans as well as pay out your own crisis healthcare expenses? Very often it's not necessarily potential to await until finally your own personal payday comes an ideal conditions. We certainly have the response. Pay a visit to each of our internet site along with fill in a rapid app for just a interim financial institution and have cash loan on the net.
So... we should continue to give money to an industry that essentially shakes down sick people because we have always given money to this industry. I kinda think we should go back and look at the ridiculous earnings of some of the top executives and enact a special tax to take it back and use it to actually fund healthcare.
However, there are other restrictions to being in the program - like the fact that no business in the program can offer ""refund anticipation loans"", offer commercial services more than a certain amount of times (so they can't hound you to upgrade), and so on. Some businesses were making a killing off these, though they are pretty much solely developed to be predatory on people with the lowest incomes (and education levels, and IQ, and with cognitive disabilities, and basically anyone they could sucker into paying what were effectively absurd rates for short term loans along with inflated filing/preparation fees). Finally, Free File was partly developed as an initiative to increase the amount of digitally filed taxes and reduce the paper-based burdens of accepting and processing turns. In other words: to cut government costs, not to be a government welfare program. Even if it were, one can generally obtain commercial software for $30-$100, so the benefit to those above gross income levels is pretty minor; yearly costs to file taxes with such software for those payers would be less than 0.001% of their yearly expenses. Compared to the benefits obtainable by households living below the poverty line, fighting to cover an extra 5-30% of the population at the potential expense of having the whole program be a failure probably seemed like a more than worthwhile trade-off."
Unless the hypothetical fellow is immune to disease, and indestructible, with no risk of injury, the HSA is an ideal place for this money.  It offers a pretax deposit, and if used for medical expenses, a tax free withdrawal. This combination can't be beat for those who have the medical insurance that qualifies them for the HSA.
The article briefly mentioned Martin Shkreli and Daraprim, which is an excellent extreme example of the underlying flaws in the American medical market. Hide the true costs of various necessary medications behind multiple walls of insurance pools and government subsidy and pretty soon the sky's the limit for these companies: https://rebelnews.com/willparke/the-drama-of-daraprim-and-the-for-profit-medicine-industry/
Do I get a write off for paying student loans? Maybe. See https://www.irs.gov/publications/p970/ch04.html Generally, personal interest you pay, other than certain mortgage interest, isn't deductible on your tax return. However, if your modified adjusted gross income (MAGI) is less than $80,000 ($160,000 if filing a joint return) there is a special deduction allowed for paying interest on a student loan (also known as an education loan) used for higher education. For most taxpayers, MAGI is the adjusted gross income as figured on their federal income tax return before subtracting any deduction for student loan interest. This deduction can reduce the amount of your income subject to tax by up to $2,500. Read the whole document to be sure, but that's the basics. You'll have to fill out a 1040 or 1040A to claim a student loan deduction. It won't be on the 1040EZ. You do not have to itemize though. What kinds of write-offs and credits are available for someone who is single and lives in an apartment with two roommates? As a practical matter, in 2016 you'll get the standard deduction for someone who is single ($6300) and the personal exemption ($4050). It's extremely unlikely that you'll be able to deduct more by itemizing. Most people who itemize are taking a mortgage interest deduction. Major medical bills are another possibility, but they have to be more than 10% of your adjusted gross income (it's one of the lines on your tax return). Assuming you rent and are reasonably healthy, you are unlikely to have enough to itemize. The most likely additional deduction would be the one for an IRA (Individual Retirement Account). Although you might be better off doing a Roth anyway (no tax deduction). If you are self-employed or making more than $100,000 a year, there are additional issues. But most people aren't. If you filled out a W-4 and will get a W-2 back, you aren't self-employed.
It's simple. Most people don't spend $6000 a year in medical care. As for myself, there's probably only $400 or less, mostly in annual checkups and the like.  If you are the type to require more medical care, then you will pay more per month. I know a person with asthma, kidney stones, and inflammatory issues. This person spends probably $1000 in co-pays per year, with considerable more if you were to include the hospital visits in the likes. But if you don't think you are one of these people, then don't get the higher cost plan.