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Mortgage Tax Debt Settlement (Ноw to save your money)
Payday, Quick Cash, Real Estate
07 January 2009 @ 10:19 pm
07 January 2009 @ 06:19 pm
Bad credit personal loans are well known for its policies which contemplate on deleting bad credit records in the easiest way. To erase the bad credit score, funds are required and you can borrow the necessary funds with the help of bad credit personal loans. To work and carry out its functions in a better way, bad credit personal loans are classified into secured and unsecured loans. Secured loans privileges the bad creditors to borrow large amount of capital by placing collateral. On the other hand, unsecured form is formatted for people who do not have property to pledge against the loan.
See more: bad debt
See more: bad debt
07 January 2009 @ 01:40 am
And you know what? When the creditor finally relents and drops the bad debit from your credit reports they are suppose to send you a 1099 or some such notice for the IRS and a notice advising you of the deletion but they do not always do this.
I had a number of spoiled credit cards from way back that were fraudulently opened under my name. I tried to have the bureaus remove them nope. There was no regulation or standard on how to deal with credit card fraud when the creditor refuses to accept their error. So I didn't pay one red cent. Having worked for 4 years at a VISA/MC credit card issuer I knew that eventually they would write off the debit and in 7 years the record would be removed. Well then Mr. Bush changed the rules a little stating that creditors no longer get endless shots at ruining your credit. IF they cannot collect in 7 years they completely lose their chance to collect from you at all. Creditors used to be able to reactive a bad debt should you pop up on the radar again - lord knows the credit card company I worked did it all the time.
About two years ago, I started receiving these strange notices from the original creditor not the agencies. 1099 and statements of I cannot remember the exact term basically stating that I owed nothing and that they had removed the bad debt from my credit report. About a week later I started receiving credit card solictations again.
I've got two more fraud credit cards that should have removed themselves from my report and should have sent IRS info but I've receive nada from those companies. I suspect that they are going to be the lone holdouts on resolving this matter. I've basically shut down my ability to obtain credit cards and CC companies abilities to send me unsolicited offers. And I learned while working at VISA/MC that credit cards truly are no good.
More info about bad debt
05 January 2009 @ 10:31 pm
That is a valid question and there are many who disagree with me on this matter. I am here to tell you that this does work and over the years you will find that you are happy you took this action.
For instance a personal example; our family household income is $15,000 take-home a month, and we put $1500 into savings every month regardless of the balance on any lines of credit or credit cards. I know that some would say this is wrong because you need to pay off your bad debt as soon as possible to avoid the interest charges, but I have found that people generally never put money into their savings because theyre always paying down bad debt.
I stand by my philosophy of paying yourself first. So please do this at the same time you are getting rid of some of your unneeded monthly payments, bad loans, and monthly costs on recreational items you dont really need. Lets face it - you have spent years getting yourself into a financial hole, and it may take a couple of years to get yourself out. Why not start saving now, and start dealing with your monthly bills and debts at the same time.
You may find if you follow my ideas here today that in two or three years time you will have saved quite a lot of money and your debts will have dwindled down two almost nothing (I am talking about your bad debts here).
Furthermore, we found that when we did this personal finance worksheet we began to think of other ideas on how we can bring money into the household without any more work and without any more investment.
What we did is make a plan to do things like rent out stuff we dont always use. For instance, we have a 24 ft. motor home now which we only use a small portion of the year. We rent out the motor home and it pays for all of the monthly expenses and the loan payments on the RV.
As well, we put our house on VRBO (Vacation Rentals By Owner - a web site where you can rent out your house) so that when we go on vacation our house is being rented at the same time paying for our vacation costs.
See more: bad debt
For instance a personal example; our family household income is $15,000 take-home a month, and we put $1500 into savings every month regardless of the balance on any lines of credit or credit cards. I know that some would say this is wrong because you need to pay off your bad debt as soon as possible to avoid the interest charges, but I have found that people generally never put money into their savings because theyre always paying down bad debt.
I stand by my philosophy of paying yourself first. So please do this at the same time you are getting rid of some of your unneeded monthly payments, bad loans, and monthly costs on recreational items you dont really need. Lets face it - you have spent years getting yourself into a financial hole, and it may take a couple of years to get yourself out. Why not start saving now, and start dealing with your monthly bills and debts at the same time.
You may find if you follow my ideas here today that in two or three years time you will have saved quite a lot of money and your debts will have dwindled down two almost nothing (I am talking about your bad debts here).
Furthermore, we found that when we did this personal finance worksheet we began to think of other ideas on how we can bring money into the household without any more work and without any more investment.
What we did is make a plan to do things like rent out stuff we dont always use. For instance, we have a 24 ft. motor home now which we only use a small portion of the year. We rent out the motor home and it pays for all of the monthly expenses and the loan payments on the RV.
As well, we put our house on VRBO (Vacation Rentals By Owner - a web site where you can rent out your house) so that when we go on vacation our house is being rented at the same time paying for our vacation costs.
See more: bad debt
05 January 2009 @ 09:13 pm
TRENTON, N.J.s first community hospital has been on life support since the Shands Healthcare system in northern Florida bought it a dozen years ago.
Now, because of the recession, the plug is being pulled on 80-year-old, money-losing Shands AGH. Next fall, its eight-hospital not-for-profit parent company will shut the 220-bed hospital and shift staff and patients to a newer, bigger teaching hospital nearby as part of an effort to save $65 million over three years across the system.
Like many U.S. hospitals, Shands is being squeezed by tight credit, higher borrowing costs, investment losses and a jump in patients many recently unemployed or otherwise underinsurednot paying their bills.
All that has begun to trigger more hospital closingsfrom impoverished Newark, N.J., to wealthy Beverly Hills, Calif.as well as layoffs, other cost-cutting and scrapping or delaying building projects.
More closings and mergers are on the way, industry consultants predict.
ll get swallowed up by somebody else, if they need to exist, and if they dont, theyll just close, said Tuck Crocker, vice president of the health care practice at management consultant BearingPoint.
Most endangered are rural hospitals and urban ones in areas with excess hospital beds and a lot of poor, uninsured patients.
Hospitals, which employ 5 million people, are reporting that donations and investment returns are down, patient visits are flat, and profitable diagnostic procedures and elective surgeries are declining as people with inadequate insurance delay care. But those patients are turning up later at ERs, seriously ill, making it tough for hospitals to lay off nurses and doctors.
All those problems are aggravating long-standing stresses: stingy reimbursements from commercial insurers, even-lower payments that generally dont cover costs for Medicare and Medicaid patients, and high labor and technology costs.
Hospital executives and consultants say the growing number of people with high-deductible health plans is boosting unpaid patient bills. Many worry health reform efforts by the Obama administration could bring cuts in Medicare reimbursements, and many cash-strapped states already have begun cutting payments for poor people covered by Medicaid.
In the past few months, patients and insurers have been paying hospital bills more slowly. As a result, some think hospitals will start demanding up-front payments for elective procedures.
In November, Moodys Investors Service changed its 12- to 18-month outlook from to for nonprofit and for-profit hospitals, citing prospects of a protracted recession, bad debt and the credit crunch.
Looking forward, the cost of borrowing will likely be higher and may be nonexistent for lower-rated hospitals, Moodys noted, a problem because hospitals borrow for everything from expansions and equipment to payroll and supplies.
Since October, theres been a dramatic slowdown in plans for new wings and building upgrades, with many delayed indefinitely, said Paul Keckley of the Deloitte Center for Health Solutions.
It probably means we wont have as many new things in the hospital, he predicted.
Tim Goldfarb, CEO of Gainesville-based Shands Healthcare, said his system, Floridas second-largest provider of charity care, this year has seen bad debt jump 20 percent from patients with no insurance.
We write them off, Goldfarb said. s a burden that we cannot carry any longer.
Florida started cutting Medicaid reimbursements two years ago, when its economy started to slow, Goldfarb said. He fears another huge cut next year.
Shands already has paid off variable-rate bonds to avoid higher interest rates, deferred roughly $25 million in equipment purchases, shifted management meetings to church halls and adopted employee suggestions to save millions more.
Goldfarb believes closing Shands AGH will save nearly $100 million over seven years, mainly by avoiding costly renovations, but some administrative jobs will go.
Around the country, while some hospitals still are doing well, closings and bankruptcies seem to be picking up.
In New Jersey, where 47 percent of hospitals posted losses in 2007, five of the 79 acute-care hospitals closed this year, and a sixth may close soon. In Hawaii, nearly every hospital is in trouble, with two filing for bankruptcy and one nearly closing recently.
All over, hospitals are cutting costs by outsourcing services like housekeeping and security and trimming staff through layoffs, hiring freezes and attrition. Most are trying not to touch patient care jobs nurses, pharmacists, therapists and X-ray technicians as those already have staff shortages.
The last thing we can do is skinny down our staffing right where we need it the most, said Mike Killian, marketing vice president for the three Beaumont Hospitals in suburban Detroit.
There, auto industry job losses and other factors now equal fewer patients with commercial insurance. The system expects a $22 million loss, its first in at least 40 years, Killian said.
So Beaumont this fall announced a $60 million restructuring program that includes 4-10 percent pay cuts for doctors and managers, reducing overtime for some employees and eliminating 500 jobs, 200 already vacant, mostly outside of patient care. Rich Umbdenstock, chief executive of the American Hospital Association, said some of the hardest-hit hospitals began reducing staffing and services as early as last spring, and more will follow. He expects some to eliminate services money-losers such as behavioral health treatment, or those with high operating costs such as burn units rather than weaken their entire operation.
An association survey of more than 700 hospitals found two-thirds have seen elective procedures and overall admissions fall since July, and half have seen moderate or significant jumps in nonpaying patients.
An industry database on more than 550 hospitals found their third-quarter investment results amounted to a combined loss of $832 million, down from a $396 million gain a year earlier. During the quarter, those hospitals paid 15 percent more in borrowing costs and swung to a 1.6 percent average loss, from an average 6.1 percent profit margin a year ago.
See more: bad debt
Now, because of the recession, the plug is being pulled on 80-year-old, money-losing Shands AGH. Next fall, its eight-hospital not-for-profit parent company will shut the 220-bed hospital and shift staff and patients to a newer, bigger teaching hospital nearby as part of an effort to save $65 million over three years across the system.
Like many U.S. hospitals, Shands is being squeezed by tight credit, higher borrowing costs, investment losses and a jump in patients many recently unemployed or otherwise underinsurednot paying their bills.
All that has begun to trigger more hospital closingsfrom impoverished Newark, N.J., to wealthy Beverly Hills, Calif.as well as layoffs, other cost-cutting and scrapping or delaying building projects.
More closings and mergers are on the way, industry consultants predict.
ll get swallowed up by somebody else, if they need to exist, and if they dont, theyll just close, said Tuck Crocker, vice president of the health care practice at management consultant BearingPoint.
Most endangered are rural hospitals and urban ones in areas with excess hospital beds and a lot of poor, uninsured patients.
Hospitals, which employ 5 million people, are reporting that donations and investment returns are down, patient visits are flat, and profitable diagnostic procedures and elective surgeries are declining as people with inadequate insurance delay care. But those patients are turning up later at ERs, seriously ill, making it tough for hospitals to lay off nurses and doctors.
All those problems are aggravating long-standing stresses: stingy reimbursements from commercial insurers, even-lower payments that generally dont cover costs for Medicare and Medicaid patients, and high labor and technology costs.
Hospital executives and consultants say the growing number of people with high-deductible health plans is boosting unpaid patient bills. Many worry health reform efforts by the Obama administration could bring cuts in Medicare reimbursements, and many cash-strapped states already have begun cutting payments for poor people covered by Medicaid.
In the past few months, patients and insurers have been paying hospital bills more slowly. As a result, some think hospitals will start demanding up-front payments for elective procedures.
In November, Moodys Investors Service changed its 12- to 18-month outlook from to for nonprofit and for-profit hospitals, citing prospects of a protracted recession, bad debt and the credit crunch.
Looking forward, the cost of borrowing will likely be higher and may be nonexistent for lower-rated hospitals, Moodys noted, a problem because hospitals borrow for everything from expansions and equipment to payroll and supplies.
Since October, theres been a dramatic slowdown in plans for new wings and building upgrades, with many delayed indefinitely, said Paul Keckley of the Deloitte Center for Health Solutions.
It probably means we wont have as many new things in the hospital, he predicted.
Tim Goldfarb, CEO of Gainesville-based Shands Healthcare, said his system, Floridas second-largest provider of charity care, this year has seen bad debt jump 20 percent from patients with no insurance.
We write them off, Goldfarb said. s a burden that we cannot carry any longer.
Florida started cutting Medicaid reimbursements two years ago, when its economy started to slow, Goldfarb said. He fears another huge cut next year.
Shands already has paid off variable-rate bonds to avoid higher interest rates, deferred roughly $25 million in equipment purchases, shifted management meetings to church halls and adopted employee suggestions to save millions more.
Goldfarb believes closing Shands AGH will save nearly $100 million over seven years, mainly by avoiding costly renovations, but some administrative jobs will go.
Around the country, while some hospitals still are doing well, closings and bankruptcies seem to be picking up.
In New Jersey, where 47 percent of hospitals posted losses in 2007, five of the 79 acute-care hospitals closed this year, and a sixth may close soon. In Hawaii, nearly every hospital is in trouble, with two filing for bankruptcy and one nearly closing recently.
All over, hospitals are cutting costs by outsourcing services like housekeeping and security and trimming staff through layoffs, hiring freezes and attrition. Most are trying not to touch patient care jobs nurses, pharmacists, therapists and X-ray technicians as those already have staff shortages.
The last thing we can do is skinny down our staffing right where we need it the most, said Mike Killian, marketing vice president for the three Beaumont Hospitals in suburban Detroit.
There, auto industry job losses and other factors now equal fewer patients with commercial insurance. The system expects a $22 million loss, its first in at least 40 years, Killian said.
So Beaumont this fall announced a $60 million restructuring program that includes 4-10 percent pay cuts for doctors and managers, reducing overtime for some employees and eliminating 500 jobs, 200 already vacant, mostly outside of patient care. Rich Umbdenstock, chief executive of the American Hospital Association, said some of the hardest-hit hospitals began reducing staffing and services as early as last spring, and more will follow. He expects some to eliminate services money-losers such as behavioral health treatment, or those with high operating costs such as burn units rather than weaken their entire operation.
An association survey of more than 700 hospitals found two-thirds have seen elective procedures and overall admissions fall since July, and half have seen moderate or significant jumps in nonpaying patients.
An industry database on more than 550 hospitals found their third-quarter investment results amounted to a combined loss of $832 million, down from a $396 million gain a year earlier. During the quarter, those hospitals paid 15 percent more in borrowing costs and swung to a 1.6 percent average loss, from an average 6.1 percent profit margin a year ago.
See more: bad debt
04 January 2009 @ 09:04 pm
A bad credit rating is usually considered a problem, but is it always so? Are there circumstances where it can be beneficial?
Credit is a tool that has to be handled with wisdom to be of value. Being able to borrow money or get credit cards doesnt automatically make a person able to handle that power. In fact, it has gotten many people into serious financial trouble. Wouldnt it have been better for many of them if they had not been able to obtain credit?
Bad Credit Rating - Two True Stories
A friend, whom I will call Jill, didnt pay a phone bill early in adulthood, and made a few other minor mistakes that hurt her credit rating. While it was true that this made it difficult to get a home mortgage later in life, it is also true that it made it almost impossible for her to get credit cards. This was a a good thing, as even she will admit. She just wasnt ready to handle that kind of responsibility, and so her poor credit rating has prevented her from getting deep into debt.
As a result, Jill has to pay cash for things, or wait until she saves enough money. Does this make her a less happy person? Not as far as I can tell. While its true that she wants to borrow and get credit cards, her inability to do so also means she doesnt have the debt-stress that is so typical now.
Another friend, whom I will call Mark, started his adulthood with a good credit rating. He could get credit cards at will, and finance cars and snowmobiles too. He did all of it. With a decent job he was able to make the payments on his debts - at least at first. But by the time he was 30 years old, he had over $22,000 in credit card and other consumer debt.
Eventually it was too much to handle, and he only avoided bankruptcy by convincing the credit card companies to reduce his balances due. To do this he had to stop paying on the cards, or the companies wouldnt believe his letter explaining his dilemma. Most cut at least 30% off what he owed, provided he paid the remaining balance right away, which he did with a home equity loan.
As a result of this maneuver, his credit rating wasnt as bad as if he had actually declared bankruptcy, and he was able to rebuild his credit score - as well as his credit balances. He quickly began again the stressful process of overburdening himself with debts. So was Marks decent credit rating a good thing? He has some nice , but as his friend I also see the added stress and unhappiness.
Credit Lessons And Opportunities
A bad credit rating certainly is not something to aim for. On the other hand, if you already have one, why not see it as a lesson and an opportunity? The lesson? Your habits got you there and they would probably get you into more trouble if you could borrow even more money. The opportunity? Learn these lessons and develop better habits.
Pay cash. Get in the habit of saving for things. Knock down those credit card balances. Start setting aside money for a good used car that can be bought without a loan. Then start to put aside what would have been a car payment for a future down payment on house or even a business. Your bad credit rating can be a good thing, if you learn your lesson and seize the opportunity to become a better manager of your personal finances.
See more: bad debt
04 January 2009 @ 04:25 am
04 January 2009 @ 01:28 am
03 January 2009 @ 11:07 pm
unsecured debt consolidation then it is sometimes to consider where the current global financial crisis and situation will end as we see that there are so many companies who are making their workers redundant. With companies unable to pay the wages of their workers we see that people are ending up without jobs and a regular income. This is one reason why we see that debt consolidation loan rates and bad credit debt consolidation loan is something that for the foreseeable future will be one of the main services in the credit area that will be one that will rise in terms of the widespread need for that which is being offered.
When people are finding themselves without a regular income then they will have to do something to supplement the amount of monies that is coming in through the door every month.
See more: bad debt
When people are finding themselves without a regular income then they will have to do something to supplement the amount of monies that is coming in through the door every month.
See more: bad debt
03 January 2009 @ 05:37 pm
03 January 2009 @ 05:16 am
01 January 2009 @ 10:40 pm
From the Washington Post:
Hospitals, which employ 5 million people, are reporting that donations and investment returns are down, patient visits are flat and profitable diagnostic procedures and elective surgeries are declining as people with inadequate insurance delay care. But those patients are turning up later at ERs, seriously ill, making it tough for hospitals to lay off nurses and doctors.
All those problems are aggravating long-standing stresses: stingy reimbursements from commercial insurers, even-lower payments that generally dont cover costs for Medicare and Medicaid patients, and high labor and technology costs.
See more: bad debt
Hospitals, which employ 5 million people, are reporting that donations and investment returns are down, patient visits are flat and profitable diagnostic procedures and elective surgeries are declining as people with inadequate insurance delay care. But those patients are turning up later at ERs, seriously ill, making it tough for hospitals to lay off nurses and doctors.
All those problems are aggravating long-standing stresses: stingy reimbursements from commercial insurers, even-lower payments that generally dont cover costs for Medicare and Medicaid patients, and high labor and technology costs.
See more: bad debt
01 January 2009 @ 09:16 pm
Some people think that all debt is bad. But that is not the case. There is some debt that is actually good. Below are some instances where debt would be considered a good thing.
* Debt incurred to buy a home - Owning your own home has numerous benefits. But the reason that this is considered a good debt is because a home is an investment. It gains value instead of losing it, so youre putting yourself at an advantage by going into debt as long as you keep your payments current.
* Student loans - Getting a college education is a good investment as well. By earning a degree, you put yourself in a position to earn more money over your lifetime.
If you obtain a start up loan for a business venture this can be good debt. Again you are borrowing in order to give yourself earning potential. Of course you are always taking a chance when going into business for yourself, but often it is worth the risk and the necessary debt incurred.
There are lots of examples of bad debt. Here are a few:
Financing a car ? unlike a home your car depreciates rapidly. That means you are not investing your money with the potential for a greater return in the long run. The money you spend is gone.
* Credit card debt - Although credit cards can feasibly be used to purchase things that appreciate, they are in general considered bad debt because of the types of things that are usually bought with them. The overwhelming majority of credit card purchases are things that lose value.
Another bad debt is borrowing money for personal use such as to purchase higher priced items or maybe to fund a much needed vacation. These are at times necessary but will not earn you money in the long run. Since they are not an investment this is not good debt.
Good debt does not mean that it can not be harmful to us if we are not careful. Taking on good debt should be thought out carefully. The lender should not be the only one crunching the numbers to see if the debt is within our ability to pay. We have to take personal responsibility for counting the cost and being sure we will be able to make the monthly payments.
Also, bad debt is not always something to be avoided. To have a reasonable amount of what is considered bad debt is fine. We just want to keep it at a moderate level and not allow it to get out of control. Just like good debt we want to be sure we can handle the payments and only take on bad debt when necessary.
More info about bad debt
01 January 2009 @ 12:07 pm
The speed of processing of the loan also depends upon the amount you need. If you need smaller amounts, say 50 to 100 pounds, your application can be processed in two to three hours. For amounts up to 5000 pounds, it can take 24 hours, which is very less compared to the local money lenders. In case you need higher amounts, and you place a security collateral, it may take up to 36 hours. This reason, along with the reason that there are no credit checks, gives the loans the name: instant loans without credit check.
More info about bad debt
More info about bad debt
01 January 2009 @ 12:19 am
We know that money is not the root of all evil, but we know that people who are evil have their greed factor way out of control. Look at what's happened in the past 8 years. Tremendous losses throughout the world all caused by greed ......... and most people are suffering as a result.
We have the cure for what this financial crisis in the world is doing to your personal life. But, no matter what's occurred in your life, your company, your family because of the last 8 years it can be overcome. The process is simply study The Course on Money.
Public education doesn't teach us how to make a living, get wealth, create wealth, keep wealth, or how to find inner peace. Standardized (or sub-standard) if you compare it to the rest of the world. It's the pits, really. The same goes for sub-standard insurance coverages, sub-standard medical care - what happened?
For almost 30 years, Dr. Jay Polmar has taught one great theory - THINK RIGHT. Over the past 29 years, he's helped 100,000 people around the world with his self-taught courses, which are just like being with Jay in a classroom in Hawaii, or in New Mexico and learning these amazing methods. It's because the courses have audio and it's just like listening to him.
To Dr. Jay it's: why be surprised that this happened? Look who we elected, and how he's taken the nation down -- $500 billion deficit this year alone ... pretty darned amazing. Are we safer? On a personal note, that deficit hasn't included the last crisis on Wall Street. The economy looks gloomy! How's your own economy?
How is your personal economy? Would you like to learn from the secrets that Dr. Jay Polmar taught since 1979 .... before many people even knew there was a Law of Attraction. Yes, our politicians and terrorism attracted financial gloom to the world. That was the price of the war on terror! And for those unaffected by terrorism, they were affected by the war on druglords, the war on starving - everyone seems to be at war. War beguts suffering. Peace beguts successes! Why not focus on successes!
War doesn't work! Success, and attracting money and multiples of things you want in life does work. When you are told not to be creative, to follow the orders - you often die trying. But, when you are creative, open your intuition, and have your mind programmed as a money machine - you can only be the winner and more successful.
Until the end of this year, all those who purchase the Course on Money, will also get, once a month for 5 months, a bonus series, on the Millionaire MindSet. That's 5 different 40 - 80 page books on how to achieve and operate the Millionaire mindset.
Dr. Jay Polmar, is no longer teaching, but is kind of retired on a hill in a bilingual part of a Major City in Central Mexico, writing books and courses to help a struggling world.
More info about bad debt
We have the cure for what this financial crisis in the world is doing to your personal life. But, no matter what's occurred in your life, your company, your family because of the last 8 years it can be overcome. The process is simply study The Course on Money.
Public education doesn't teach us how to make a living, get wealth, create wealth, keep wealth, or how to find inner peace. Standardized (or sub-standard) if you compare it to the rest of the world. It's the pits, really. The same goes for sub-standard insurance coverages, sub-standard medical care - what happened?
For almost 30 years, Dr. Jay Polmar has taught one great theory - THINK RIGHT. Over the past 29 years, he's helped 100,000 people around the world with his self-taught courses, which are just like being with Jay in a classroom in Hawaii, or in New Mexico and learning these amazing methods. It's because the courses have audio and it's just like listening to him.
To Dr. Jay it's: why be surprised that this happened? Look who we elected, and how he's taken the nation down -- $500 billion deficit this year alone ... pretty darned amazing. Are we safer? On a personal note, that deficit hasn't included the last crisis on Wall Street. The economy looks gloomy! How's your own economy?
How is your personal economy? Would you like to learn from the secrets that Dr. Jay Polmar taught since 1979 .... before many people even knew there was a Law of Attraction. Yes, our politicians and terrorism attracted financial gloom to the world. That was the price of the war on terror! And for those unaffected by terrorism, they were affected by the war on druglords, the war on starving - everyone seems to be at war. War beguts suffering. Peace beguts successes! Why not focus on successes!
War doesn't work! Success, and attracting money and multiples of things you want in life does work. When you are told not to be creative, to follow the orders - you often die trying. But, when you are creative, open your intuition, and have your mind programmed as a money machine - you can only be the winner and more successful.
Until the end of this year, all those who purchase the Course on Money, will also get, once a month for 5 months, a bonus series, on the Millionaire MindSet. That's 5 different 40 - 80 page books on how to achieve and operate the Millionaire mindset.
Dr. Jay Polmar, is no longer teaching, but is kind of retired on a hill in a bilingual part of a Major City in Central Mexico, writing books and courses to help a struggling world.
More info about bad debt
31 December 2008 @ 02:16 am
Dec 27th, 2008 | TRENTON, N.J. -- Gainesville's first community hospital has been on life support since the Shands Healthcare system in northern Florida bought it a dozen years ago.
Now, because of the recession, the plug is being pulled on 80-year-old, money-losing Shands AGH. Next fall, its eight-hospital not-for-profit parent company will shut the 220-bed hospital and shift staff and patients to a newer, bigger teaching hospital nearby as part of an effort to save $65 million over three years across the system.
Like many U.S. hospitals, Shands is being squeezed by tight credit, higher borrowing costs, investment losses and a jump in patients -- many recently unemployed or otherwise underinsured -- not paying their bills.
All that has begun to trigger more hospital closings -- from impoverished Newark, N.J., to wealthy Beverly Hills, Calif. -- as well as layoffs, other cost-cutting and scrapping or delaying building projects.
More closings and mergers are on the way, industry consultants predict.
"They'll get swallowed up by somebody else, if they need to exist, and if they don't, they'll just close," said Tuck Crocker, vice president of the health care practice at management consultant BearingPoint.
Most endangered are rural hospitals and urban ones in areas with excess hospital beds and a lot of poor, uninsured patients.
Hospitals, which employ 5 million people, are reporting that donations and investment returns are down, patient visits are flat and profitable diagnostic procedures and elective surgeries are declining as people with inadequate insurance delay care. But those patients are turning up later at ERs, seriously ill, making it tough for hospitals to lay off nurses and doctors.
All those problems are aggravating long-standing stresses: stingy reimbursements from commercial insurers, even-lower payments that generally don't cover costs for Medicare and Medicaid patients, and high labor and technology costs.
Hospital executives and consultants say the growing number of people with high-deductible health plans is boosting unpaid patient bills. Many worry health reform efforts by the Obama administration could bring cuts in Medicare reimbursements, and many cash-strapped states already have begun cutting payments for poor people covered by Medicaid.
In the past few months, patients and insurers have been paying hospital bills more slowly. As a result, some think hospitals will start demanding up-front payments for elective procedures.
In November, Moody's Investors Service changed its 12- to 18-month outlook from "stable" to "negative" for nonprofit and for-profit hospitals, citing "prospects of a protracted recession," bad debt and the credit crunch.
"Looking forward, the cost of borrowing will likely be higher -- and may be nonexistent for lower-rated hospitals," Moody's noted, a problem because hospitals borrow for everything from expansions and equipment to payroll and supplies.
Since October, there's been "a dramatic slowdown" in plans for new wings and building upgrades, with many delayed indefinitely, said Paul Keckley of the Deloitte Center for Health Solutions.
"It probably means we won't have as many new things in the hospital," he predicted.
Tim Goldfarb, CEO of Gainesville-based Shands Healthcare, said his system, Florida's second-largest provider of charity care, this year has seen bad debt jump 20 percent from patients with no insurance.
"We write them off," Goldfarb said. "It's a burden that we cannot carry any longer."
Florida started cutting Medicaid reimbursements two years ago, when its economy started to slow, Goldfarb said. He fears another huge cut next year.
Shands already has paid off variable-rate bonds to avoid higher interest rates, deferred roughly $25 million in equipment purchases, shifted management meetings to church halls and adopted employee suggestions to save millions more.
Goldfarb believes closing Shands AGH will save nearly $100 million over seven years, mainly by avoiding costly renovations, but some administrative jobs will go.
Around the country, while some hospitals still are doing well, closings and bankruptcies seem to be picking up.
In New Jersey, where 47 percent of hospitals posted losses in 2007, five of the 79 acute-care hospitals closed this year, and a sixth may close soon. In Hawaii, nearly every hospital is in trouble, with two filing for bankruptcy and one nearly closing recently.
All over, hospitals are cutting costs by outsourcing services like housekeeping and security and trimming staff through layoffs, hiring freezes and attrition. Most are trying not to touch patient care jobs -- nurses, pharmacists, therapists and X-ray technicians -- as those already have staff shortages.
"The last thing we can do is skinny down our staffing right where we need it the most," said Mike Killian, marketing vice president for the three Beaumont Hospitals in suburban Detroit.
There, auto industry job losses and other factors now equal fewer patients with commercial insurance. The system expects a $22 million loss, its first in at least 40 years, Killian said.
So Beaumont this fall announced a $60 million restructuring program that includes 4-10 percent pay cuts for doctors and managers, reducing overtime for some employees and eliminating 500 jobs, 200 already vacant, mostly outside of patient care. Rich Umbdenstock, chief executive of the American Hospital Association, said some of the hardest-hit hospitals began reducing staffing and services as early as last spring and more will follow. He expects some to eliminate services -- money-losers such as behavioral health treatment, or those with high operating costs such as burn units -- rather than weaken their entire operation.
An association survey of more than 700 hospitals found two-thirds have seen elective procedures and overall admissions fall since July, and half have seen moderate or significant jumps in nonpaying patients.
An industry database on more than 550 hospitals found their third-quarter investment results amounted to a combined loss of $832 million, down from a $396 million gain a year earlier. During the quarter, those hospitals paid 15 percent more in borrowing costs and swung to a 1.6 percent average loss, from an average 6.1 percent profit margin a year ago.
"They're having serious problems getting the capital they need for needed renovations and upgrading their facilities," said Mike Rock, a lobbyist at AHA, which is seeking increased federal reimbursements from Medicaid and Medicare.
At Exempla Healthcare, with three hospitals in Denver and its suburbs, Chief Executive Jeff Selberg said there's usually a 5-7 percent annual profit margin, but this year investment losses wiped that out. He's scaled back a $200 million plan to upgrade facilities, information technology and clinical equipment and may halt construction of a new maternity unit and operating rooms at one hospital.
Selberg has seen a slight increase in bad debt and expects more problems.
"We feel like the wave is coming, but it hasn't hit yet, and we don't know how big this wave is going to be," he said.
More info about bad debt
Now, because of the recession, the plug is being pulled on 80-year-old, money-losing Shands AGH. Next fall, its eight-hospital not-for-profit parent company will shut the 220-bed hospital and shift staff and patients to a newer, bigger teaching hospital nearby as part of an effort to save $65 million over three years across the system.
Like many U.S. hospitals, Shands is being squeezed by tight credit, higher borrowing costs, investment losses and a jump in patients -- many recently unemployed or otherwise underinsured -- not paying their bills.
All that has begun to trigger more hospital closings -- from impoverished Newark, N.J., to wealthy Beverly Hills, Calif. -- as well as layoffs, other cost-cutting and scrapping or delaying building projects.
More closings and mergers are on the way, industry consultants predict.
"They'll get swallowed up by somebody else, if they need to exist, and if they don't, they'll just close," said Tuck Crocker, vice president of the health care practice at management consultant BearingPoint.
Most endangered are rural hospitals and urban ones in areas with excess hospital beds and a lot of poor, uninsured patients.
Hospitals, which employ 5 million people, are reporting that donations and investment returns are down, patient visits are flat and profitable diagnostic procedures and elective surgeries are declining as people with inadequate insurance delay care. But those patients are turning up later at ERs, seriously ill, making it tough for hospitals to lay off nurses and doctors.
All those problems are aggravating long-standing stresses: stingy reimbursements from commercial insurers, even-lower payments that generally don't cover costs for Medicare and Medicaid patients, and high labor and technology costs.
Hospital executives and consultants say the growing number of people with high-deductible health plans is boosting unpaid patient bills. Many worry health reform efforts by the Obama administration could bring cuts in Medicare reimbursements, and many cash-strapped states already have begun cutting payments for poor people covered by Medicaid.
In the past few months, patients and insurers have been paying hospital bills more slowly. As a result, some think hospitals will start demanding up-front payments for elective procedures.
In November, Moody's Investors Service changed its 12- to 18-month outlook from "stable" to "negative" for nonprofit and for-profit hospitals, citing "prospects of a protracted recession," bad debt and the credit crunch.
"Looking forward, the cost of borrowing will likely be higher -- and may be nonexistent for lower-rated hospitals," Moody's noted, a problem because hospitals borrow for everything from expansions and equipment to payroll and supplies.
Since October, there's been "a dramatic slowdown" in plans for new wings and building upgrades, with many delayed indefinitely, said Paul Keckley of the Deloitte Center for Health Solutions.
"It probably means we won't have as many new things in the hospital," he predicted.
Tim Goldfarb, CEO of Gainesville-based Shands Healthcare, said his system, Florida's second-largest provider of charity care, this year has seen bad debt jump 20 percent from patients with no insurance.
"We write them off," Goldfarb said. "It's a burden that we cannot carry any longer."
Florida started cutting Medicaid reimbursements two years ago, when its economy started to slow, Goldfarb said. He fears another huge cut next year.
Shands already has paid off variable-rate bonds to avoid higher interest rates, deferred roughly $25 million in equipment purchases, shifted management meetings to church halls and adopted employee suggestions to save millions more.
Goldfarb believes closing Shands AGH will save nearly $100 million over seven years, mainly by avoiding costly renovations, but some administrative jobs will go.
Around the country, while some hospitals still are doing well, closings and bankruptcies seem to be picking up.
In New Jersey, where 47 percent of hospitals posted losses in 2007, five of the 79 acute-care hospitals closed this year, and a sixth may close soon. In Hawaii, nearly every hospital is in trouble, with two filing for bankruptcy and one nearly closing recently.
All over, hospitals are cutting costs by outsourcing services like housekeeping and security and trimming staff through layoffs, hiring freezes and attrition. Most are trying not to touch patient care jobs -- nurses, pharmacists, therapists and X-ray technicians -- as those already have staff shortages.
"The last thing we can do is skinny down our staffing right where we need it the most," said Mike Killian, marketing vice president for the three Beaumont Hospitals in suburban Detroit.
There, auto industry job losses and other factors now equal fewer patients with commercial insurance. The system expects a $22 million loss, its first in at least 40 years, Killian said.
So Beaumont this fall announced a $60 million restructuring program that includes 4-10 percent pay cuts for doctors and managers, reducing overtime for some employees and eliminating 500 jobs, 200 already vacant, mostly outside of patient care. Rich Umbdenstock, chief executive of the American Hospital Association, said some of the hardest-hit hospitals began reducing staffing and services as early as last spring and more will follow. He expects some to eliminate services -- money-losers such as behavioral health treatment, or those with high operating costs such as burn units -- rather than weaken their entire operation.
An association survey of more than 700 hospitals found two-thirds have seen elective procedures and overall admissions fall since July, and half have seen moderate or significant jumps in nonpaying patients.
An industry database on more than 550 hospitals found their third-quarter investment results amounted to a combined loss of $832 million, down from a $396 million gain a year earlier. During the quarter, those hospitals paid 15 percent more in borrowing costs and swung to a 1.6 percent average loss, from an average 6.1 percent profit margin a year ago.
"They're having serious problems getting the capital they need for needed renovations and upgrading their facilities," said Mike Rock, a lobbyist at AHA, which is seeking increased federal reimbursements from Medicaid and Medicare.
At Exempla Healthcare, with three hospitals in Denver and its suburbs, Chief Executive Jeff Selberg said there's usually a 5-7 percent annual profit margin, but this year investment losses wiped that out. He's scaled back a $200 million plan to upgrade facilities, information technology and clinical equipment and may halt construction of a new maternity unit and operating rooms at one hospital.
Selberg has seen a slight increase in bad debt and expects more problems.
"We feel like the wave is coming, but it hasn't hit yet, and we don't know how big this wave is going to be," he said.
More info about bad debt
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