Mark takes a creative approach to the practice of law as a result of his unique business background prior to law school in 1997. Mark has been an entrepreneur for over 30 years and has created, developed and directed businesses in financial services, international trade and distribution and professional services. Since becoming an attorney, Mark gained experience in Business Law, Foreclosure and Bankruptcy Law, Real Estate Law, Estate Planning and Asset Protection. For over 8 years Mark has been a talk show host on various radio stations and a frequent speaker at continuing education and seminar events for attorneys, real estate agents and other professionals.
Advance Fee Variant of the Loan Funding Scheme of Secure Platform Fundingjamessmithusa
To visualize the comparative difference between the advance fee version and the escrow based variety of Secure Platform Funding, please see the article.
Secure Platform Funding office has seen a shift within the marketplace of white collar fraud schemes from investment fraud toward loan funding schemes.
Ellett Law Offices, P.C., is dedicated to providing quality representation to clients with bankruptcy issues in Phoenix, Arizona, and surrounding areas. As founding attorney of the law firm, Ronald J. Ellett is committed to effectively resolving cases for clients involving Chapter 7 bankruptcy, Chapter 13 bankruptcy, Chapter 11 bankruptcy, credit card debt, foreclosures and other bankruptcy issues.
Advance Fee Variant of the Loan Funding Scheme of Secure Platform Fundingjamessmithusa
To visualize the comparative difference between the advance fee version and the escrow based variety of Secure Platform Funding, please see the article.
Secure Platform Funding office has seen a shift within the marketplace of white collar fraud schemes from investment fraud toward loan funding schemes.
Ellett Law Offices, P.C., is dedicated to providing quality representation to clients with bankruptcy issues in Phoenix, Arizona, and surrounding areas. As founding attorney of the law firm, Ronald J. Ellett is committed to effectively resolving cases for clients involving Chapter 7 bankruptcy, Chapter 13 bankruptcy, Chapter 11 bankruptcy, credit card debt, foreclosures and other bankruptcy issues.
What Is an Elder Law Attorney in North DakotaRaymond German
Elder law attorneys are legal professionals who are dedicated to the needs of senior citizens. If you want to be comprehensively prepared for the eventualities of aging, you should discuss the lay of the land with a licensed elder law attorney. Learn more about elder law attorney in North Dakota in this presentation.
Information on avoiding slander and libel claims. Provides a general overview of the law of defamation and invasion of privacy, with tips to avoid such claims.
Discussion 1The Federal Reserves were using practices that t.docxduketjoy27252
Discussion 1
The Federal Reserves were using practices that they haven't used since the Great Depression. “First, the Fed extended credit to nonbank financial firms, which was the first time since the Great Depression that entities outside of the Federal Reserve System could borrow directly from the Fed”(Amacher Pate 2012). They did this so that all the small firms didn't fall because of the economy. “The Fed also purchased assets and loans from firms deemed "too big to fail." The purchases of mortgage-backed securities, loans ranging from millions to billions to financial firms like American International Group, and guarantees of the assets of Citigroup and Bank of America were all seen as unconventional practices of the Fed”(Amacher Pate 2012). That way they would have the money to used to help stabilize their financial state.
To support the firms that the Federal Reserve thought was to big to fail, they passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. “On July 21, 2010, President Barack Obama signed the Dodd–Frank Wall Street Reform and Consumer Protection Act into law, which permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000”(Amacher Pate 2012). This way when there will be less likely for the banks to be in a crisis because they would have more money to work with.
I think they did what they thought they had to do to keep the economy from collapsing. If everything started falling apart and they couldn't come up with a solution, they would have bigger problems to deal with than unconventional practices.
Amacher, R., Pate, J. 2012. Principles of Macroeconomics. San Diego, CA. Bridgepoint Education Inc.
The Federal Reserve was established to provide bank safety. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was created to provide protection to bank depositors from bank failures. According to text, “it is important to allow unsuccessful firms to fail and leave the industry if the market system is to function effectively” (Amacher, 2012, p. 343). In response to the numerous bank failures, the FDIC implemented several changes. First, it mandated that all accounts that are not interest bearing to be insured in full. Banks were using these funds to issue high interest loans, while paying minimal interest to funds that were deposited. Next, the Federal Reserve System was divided into 12 districts. This method ensured that control of the banks was not consolidated at a national level. At this point, the Federal Reserve can also adjust the interest rates to encourage or discourage banks from lending money. Also, Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act. This was the response for organizations who were deemed “too big to fail.” This law required banks to have a high ratios of capital reserves, as well as reduce their penchant for risk tasking.
Travis
References
Amacher, R., Pate, J., (2012).Principles of Macroeconomics. San Diego.
As the United States has become both a tax and privacy haven, wealthy families from around the world are seeking U.S. trust solutions. This webinar examined various worldwide factors for this historic movement of money into the United States, including FACTA, CRS, secrecy vs. privacy, and asset protection. This presentation also considered and objectively compared U.S. trust jurisdictions, accentuating the vital importance of selecting the correct U.S. trust situs for international families. The presentation concluded with a discussion of various privacy, tax, and asset protection planning tools available to international families in the United States.
How Are Debts Handled After Someone Dies in TexasSteve P. Mendel
Probate is the legal process that is typically required after a death to ensure that the decedent’s assets are identified, located, and eventually transferred to the rightful beneficiaries or heirs of the estate. Another important aspect of the probate process, however, is addressing debts of the decedent. Learn more about debts in Texas in this presentation.
What Is a Special Needs Trust in North DakotaRaymond German
To account for this dynamic, you could make a loved one with a disability the beneficiary of a special needs trust. Under program rules, the trustee could use the assets in the trust to improve the beneficiary's quality of life. Learn more about special needs trust in North Dakota in this presentation.
What Is an Elder Law Attorney in North DakotaRaymond German
Elder law attorneys are legal professionals who are dedicated to the needs of senior citizens. If you want to be comprehensively prepared for the eventualities of aging, you should discuss the lay of the land with a licensed elder law attorney. Learn more about elder law attorney in North Dakota in this presentation.
Information on avoiding slander and libel claims. Provides a general overview of the law of defamation and invasion of privacy, with tips to avoid such claims.
Discussion 1The Federal Reserves were using practices that t.docxduketjoy27252
Discussion 1
The Federal Reserves were using practices that they haven't used since the Great Depression. “First, the Fed extended credit to nonbank financial firms, which was the first time since the Great Depression that entities outside of the Federal Reserve System could borrow directly from the Fed”(Amacher Pate 2012). They did this so that all the small firms didn't fall because of the economy. “The Fed also purchased assets and loans from firms deemed "too big to fail." The purchases of mortgage-backed securities, loans ranging from millions to billions to financial firms like American International Group, and guarantees of the assets of Citigroup and Bank of America were all seen as unconventional practices of the Fed”(Amacher Pate 2012). That way they would have the money to used to help stabilize their financial state.
To support the firms that the Federal Reserve thought was to big to fail, they passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. “On July 21, 2010, President Barack Obama signed the Dodd–Frank Wall Street Reform and Consumer Protection Act into law, which permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000”(Amacher Pate 2012). This way when there will be less likely for the banks to be in a crisis because they would have more money to work with.
I think they did what they thought they had to do to keep the economy from collapsing. If everything started falling apart and they couldn't come up with a solution, they would have bigger problems to deal with than unconventional practices.
Amacher, R., Pate, J. 2012. Principles of Macroeconomics. San Diego, CA. Bridgepoint Education Inc.
The Federal Reserve was established to provide bank safety. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was created to provide protection to bank depositors from bank failures. According to text, “it is important to allow unsuccessful firms to fail and leave the industry if the market system is to function effectively” (Amacher, 2012, p. 343). In response to the numerous bank failures, the FDIC implemented several changes. First, it mandated that all accounts that are not interest bearing to be insured in full. Banks were using these funds to issue high interest loans, while paying minimal interest to funds that were deposited. Next, the Federal Reserve System was divided into 12 districts. This method ensured that control of the banks was not consolidated at a national level. At this point, the Federal Reserve can also adjust the interest rates to encourage or discourage banks from lending money. Also, Congress passed the Dodd–Frank Wall Street Reform and Consumer Protection Act. This was the response for organizations who were deemed “too big to fail.” This law required banks to have a high ratios of capital reserves, as well as reduce their penchant for risk tasking.
Travis
References
Amacher, R., Pate, J., (2012).Principles of Macroeconomics. San Diego.
As the United States has become both a tax and privacy haven, wealthy families from around the world are seeking U.S. trust solutions. This webinar examined various worldwide factors for this historic movement of money into the United States, including FACTA, CRS, secrecy vs. privacy, and asset protection. This presentation also considered and objectively compared U.S. trust jurisdictions, accentuating the vital importance of selecting the correct U.S. trust situs for international families. The presentation concluded with a discussion of various privacy, tax, and asset protection planning tools available to international families in the United States.
How Are Debts Handled After Someone Dies in TexasSteve P. Mendel
Probate is the legal process that is typically required after a death to ensure that the decedent’s assets are identified, located, and eventually transferred to the rightful beneficiaries or heirs of the estate. Another important aspect of the probate process, however, is addressing debts of the decedent. Learn more about debts in Texas in this presentation.
What Is a Special Needs Trust in North DakotaRaymond German
To account for this dynamic, you could make a loved one with a disability the beneficiary of a special needs trust. Under program rules, the trustee could use the assets in the trust to improve the beneficiary's quality of life. Learn more about special needs trust in North Dakota in this presentation.
1. ASU LAW CLE
March 29, 2013
BANKRUPTCY: BASIC CONCEPTS
AND APPLICATIONS
BANKRUPTCY: PROS AND CONS FOR INDIVIDUALS
AND SMALL BUSINESSES
UPSIDE DOWN REAL ESTATE:
STRATEGIC DEFAULT OR BANKRUPTCY?
Presented by Mark A. Winsor, Esq.
2. Mark A. Winsor, Esq.
Winsor Law Group
Location: 1237 S. Val Vista Dr.
Mesa, AZ 85204
Phone: (480) 505-7044
Fax: (480) 240-5936
Email: mwinsor@winsorlaw.com
Mark takes a creative approach to the practice of law as a result of his
unique business background prior to law school in 1997. Mark has been an
entrepreneur for over 30 years and has created, developed and directed
businesses in financial services, international trade and distribution and
professional services. Since becoming an attorney, Mark gained experience in
Business Law, Foreclosure and Bankruptcy Law, Real Estate Law, Estate
Planning and Asset Protection. For over 8 years Mark has been a talk show
host on various radio stations and a frequent speaker at continuing education
and seminar events for attorneys, real estate agents and other professionals.
3. BANKRUPTCY: BASIC CONCEPTS AND
APPLICATIONS
FOR MORE DETAILS:
WWW.WINSORLAW.COM
CLICK “ARTICLES” THEN ASU CLE
4. PURPOSE:
Balancing
Protection of debtors
Fair treatment of creditors
(by priority).
5. SUMMARY OF MOST FREQUENTLY
USED CHAPTERS
• CHAPTER 7: LIQUIDATION [FRESH START]
QUALIFYING
[MEDIAN INCOME AND MEANS TEST RULES]
PROTECTING ASSETS
(EXEMPTIONS AND PRE-BANKRUPTCY PLANNING).
IF ASSETS TO DISTRIBUTE:
TO APPROVED CREDITORS BY PRIORITY.
7. CHAPTER 11
REORGANIZATION FOR BUSINESSES AND “OTHERS”
HELPING BUSINESSES TO SURVIVE.
IF IT WON’T “WORK” THEN CONVERT TO 7.
PROTECTION FOR INDIVIDUALS
WHEN CHAPTERS 7 AND 13 DON’T “WORK”.
DEBTOR IN POSSESSION:
MORE FLEXIBILITY; HIGHER LEGAL FEES /COSTS.
FAIR TREATMENT OF CREDITORS BY CLASSES.
PLAN CONFIRMATION.
CREDITOR VOTING, CREDITOR PRIORITIES AND OTHER ISSUES.
8. CHAPTER 13: REORGANIZATION FOR INDIVIDUALS
QUALIFYING. NOT TOO MUCH DEBT.
SUFFICIENT INCOME.
PROTECTING ASSETS (PAY PRIORITY AND SECURED CREDITORS AND
MORE TO UNSECURED THAN THEY WOULD GET IN A 7)
PLAN CONFIRMATION: 3 TO 5 YEAR PLAN.
CRAM DOWNS.
LIEN STRIPPING.
10. WEIGHING IN ON:
EMOTIONS
PRACTICAL MATTERS
MORAL ISSUES
FINANCIAL REALITY
11. CONS:
CREDIT ISSUES. (MORE PERCEPTION THAN REALITY)
MORAL AND SELF ESTEEM ISSUES.
OTHER ALTERNATIVES, SUCH AS DEBT NEGOTIATION, DEBT
COUNSELING, DEBT RESTRUCTURE MAY BE LESS INTRUSIVE
INTO DEBTOR’S PERSONAL FINANCIAL AFFAIRS.
FAMILY AND FRIENDS WHO ARE ALSO CREDITORS WILL
BE NOTIFIED.
PUBLIC RECORDS. CREDIT BUREAUS FOR 10 YEARS
AFTER DISCHARGE; FOREVER ON SOME APPLICATIONS.
12. CONS:
PUBLIC RECORDS. CREDIT BUREAUS FOR
10 YEARS AFTER DISCHARGE;
FOREVER ON SOME APPLICATIONS.
TRUSTEE DISPUTES
(E.G. OVER EXEMPTIONS, FRAUDULENT
TRANSFERS, PREFERENTIAL PAYMENTS, AND MORE).
13. PROS:
FASTER FRESH START THAN DEBT NEGOTIATION OR ATTEMPTS TO
RESTRUCTURE OUTSIDE BK.
SECTION 525 PROTECTION.
MORE CERTAIN PLANNING ABILITY.
SOMETIMES THE ONLY OPTION TO AVOID GARNISHMENT AND
AGGRESSIVE CREDITOR TACTICS.
MANY TIMES BK IS THE BEST OPTION TO REDUCE STRESS IN
FAMILY AND PRESERVE RELATIONSHIPS AND HEALTH.
MANY TIMES A FINANCIAL NO-BRAINER.
15. ANTI-DEFICIENCY STATUTES
A.R.S. §33-814(g).
IF
PROPERTY IS A SINGLE OR DUAL
DWELLING ON 2 ½ ACRES OR LESS
AND
THE FORECLOSURE IS BY TRUSTEE SALE.
16. A.R.S. §33-729.
IF
PROPERTY IS A SINGLE OR DUAL DWELLING
ON 2 ½ ACRES OR LESS
AND
THE LOAN WAS TO BUY THAT PROPERTY
(PURCHASE MONEY).
17. DWELLING; NOT PRIMARY RESIDENCE.
REFINANCING AND BIFURCATION ISSUES.
DEBT FORGIVENESS TAX.
EXCEPTIONS: INSOLVENCY AND BANKRUPTCY.
NON-RECOURSE ARGUMENT.
NO NEED FOR BANKRUPTCY IF PROTECTED BY
ANTI-DEFICIENCY STATUTES
AND INSOLVENCY RULES.
18. SOMETIMES BANKRUPTCY IS NOT FEASIBLE
BECAUSE OF QUALIFYING ISSUES OR ASSET
PROTECTION ISSUES.
SOMETIMES BANKRUPTCY IS NOT DESIRABLE
BECAUSE OF EMOTIONAL, PRACTICAL OR MORAL
REASONS.
SOMETIMES BANKRUPTCY IS THE BEST WAY
(OR ONLY WAY) TO GIVE THE DEBTOR
ADEQUATE RELIEF (FINANCIALLY/EMOTIONALLY).
19. FOR MORE DETAILS AND
SUPPORTING INFORMATION:
WWW.WINSORLAW.COM
CLICK “ARTICLES” THEN ASU CLE