Beginning in October, individuals with student loans that meet certain requirements will be able to apply for forgiveness of the remaining balance of the loans under the Public Service Student Loan Forgiveness Program. While private loans are not eligible, four types of loans being repaid under certain income-based repayment plans are eligible for the program. Loan forgiveness under this program is not considered taxable income.
We all know we need a medical checkup from time-to-time (and some of us actually go). But many otherwise responsible business people may not realize that an Asset Protection Checkup is just as important for the financial health and protection of their families. The best time for an Asset Protection Checkup is when times are good and business is on the rise (or expected to be on the rise). All too often, people wait until the tide has turned and potential risks become current problems before beginning to consider asset protection options. At that time, options for asset protection strategies are much more limited.
After the passing of Ohio's Short-Term Lender Act in 2008, many felt enough had been done to curb the predatory practices of payday lenders. Proponents of the law explained that its intention was to limit what payday lenders can charge consumers as well as the repercussions available to them if a consumer fails to pay.