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Bankruptcy And Debts

The glamorous life of instructing and Daily Links 31 Mac 2008

Posted by James Breen at 12 April 2008 17:9

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Gross mortgage lending has fallen by 2.9 per cent over the last year to £17.9 billion, new data said on Thursday. Figures from the British Bankers' Association (BBA) show the slowdown in lending continued last month and the level of mortgage loans approved – a key indicator of the future direction of the housing market – also fell. In total 156,732 mortgages were approved – including remortgages – worth £18.8 billion, a 7.8 per cent fall in value. The number of approvals for house purchases ..read more.

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I got the following note in email from Ragui Kamel, who's trying to raise awareness of a nasty gotcha in Canadian taxation rules for stock options. We discussed it in email yesterday, and will be having a Special Edition Squawk Box call on Friday afternoon. Anyone who cares to join is invited, but especially those who live in Canada. The call is hosted on Facebook. If you don't have a Facebook account, please email me personally and I will send contact details. —- From: Ragui Kamel ..keep reading.

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I've been steadily busy yet unmotivated to write. Here are some updates due to popular request. Student I He's making slow progress. His procedures are great, but his worst problem is still failing to react when something is wrong. I don't care if a student constantly screws up or does something wrong, as long as they proactively try to fix it, even if that means giving up and asking for help. But I'm concerned about someone who notices something isn't working out yet decides to ignore it ..next.

I would like to hear your voice over through all of this.

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People file for bankruptcy because they're in debt. The more debt there is, the more bankruptcies there are. Well, duh! It really is that simple. When compared to the level of borrowing, the rate of bankruptcy has remained fairly steady. In 1977, 74 bankruptcies were filed for every $100 million of consumer debt. In 1997, 73 bankruptcies were filed for every $100 million of consumer debt. Bankruptcy isn't the cause of debt but rather is the result. And it isn't the disease but rather is one of the cures. Restricting access to bankruptcy court won't solve the problem of debt any more than closing the hospitals will cure a plague.


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