Newspapers / The Perquimans Weekly (Hertford, … / Sept. 18, 1986, edition 1 / Page 11
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Bankruptcy causes affect on financial future some people think of bankruptcy Jn a deeply embarrassing situation, fiut for many, declaring bankruptcy . may mean a fresh start, with protec tion from creditors or time to repay <iebts. If you think you are so in debt - that personal bankruptcy may be your only course, the North Carolina Association of CPAs says you should be aware of some general guidelines about the financial aspects of the bankruptcy laws and the ramifica tions of filing under those laws .Last year, nearly 340,000 debtors ' sought refuge under Chapter 7 and 13 of the federal bankruptcy law. If you ate considering relief through per sonal bankruptcy, first understand the consequences. Piling for bankruptcy could help you get back on your feet, but don't expect to be granted credit right away. A declaration of bankruptcy is a serious matter, and one that is reflected on your credit record for many years. During that time you will have to re-establish credit. Doing so is difficult, but not im possible. You may want to build up your savings, land use that to secure a loan. Then, repay the loan prompt ly to start building a new credit history. But before you take out any loan, CPAs advise, make sure you will be able to repay it and that the money is put to good use. Also, apply for a credit card at a local retailer. If you are issued one, use it wisely. If you are like some people, it may have been the poor use of credit cards that got you into trou ble in the first place. Which chapter of the federal law should you file under? Chapter 7, the more drastic course, wipes out all debts except taxes, alimony and child support. Debts secured by pro perty, such as a home or car, normal ly have to be paid or you may lose the property, according to CPAs. However, an individual will usually be alowed to keep a certain amount of equity in a home, a car, or profes sional equipment, for example. Under Chapter 7, most of your assets will be sold by a court appointed trustee to clear as much of your debt as possible. This course may be best when there is no income at all, or when there is too little in come left over to fund a repayment plan. Under Chapter 13 you would be allowed to keep your property and personal belongings. You will also be able to consolidate nearly all debts, plus taxes, and put forth a trustee supervised plan for repayment over three to five years. The plan must in clude a budget showing how much of your money will go toward paying creditors. Why do some people overextend their credit? Uncontrolled spending, emergencies, poor investments, an d unexpected layoff from work or an extended hospital stay could lead to bankruptcy. By establishing an emergency fund, or some other pro vision, families have a better chance at surviving the unexpected. Many consumers who have declared bankruptcy may not have had ade quate financial information, an effec tive budget, nor a simple accounting method that helped them keep track of their spending. How do you know if your finances are in trouble? Warning signs will begin to appear when families have difficulty paying their bills on time. The prospect of bankruptcy appears when the family is in debt to the point where there is simply no way to meet obligations in the foreseeable future. Once declared, bankruptcy holds more creditors at bay Your home may be safe from foreclosure, and you car normally cannot be repossessed during the time you are involved in bankruptcy proceedings Declaring bankruptcy may give peo ple relief from the severe mental strain that results from serious finan cial problems. If your bills are sizeable and seem to be piling up faster than you can pay them, see your CPA for financial guidance. If you decide bankruptcy is your only choice, be aware that bankruptcy laws are complex. Make sure you clearly understand how bankruptcy will affect your financial future. Martin proclaims E.S.week RALEIGH/Governor James G. Martin proclaimed Thursday, September 2S, 1966, as Eligibility Specialist Appreciation Day in North Carolina. In his proclamation the Governor stated that "North Carolina's 3,000 social services pro fessionals who work in the area of elibility are dedicated to providing public assistance benefits t the needy people of our state." "Eligiblity specialists have helped improve quality and reduce errors to ensure that only those citizens who are entitled to public assistance received those benefits. These pro fessionals have reduced North ? Carolina's error rate for food stamps to 4.9 percent, which is one of the lowest rates in the South. In addition, the AFDC error rate of 2.3 percent is well below the national average and is one of the lowest rates in the nation." Human Resources Secretary Phillip J. Kirk, Jr., pointed out that these specialists determine eligibili ty*for the state's public assistance programs including AFDC (Aid to Families with Dependent Children), food stamps, Medicaid, foster care, low-income energy assistance, and the state's refugee program. Eligibility specialists serve all 100 North Carolina's county departments of social services. He added that many specialists are members of the North Carolina State Chapter of the National Eligibility Workers Association. The Association each .year promotes an Appreciation Day to honor its membership and their role in upholding the public trust with efficiency and integrity. "I am very proud of our eligibility specialists," Kirk emphasized. "They have one of the most difficult and important jobs in our social ser vices system. These professionals This is accomplished while meeting high quality standards, and keeping errors to the lowest level possible. ' -They do this so willingly and in an 'Unselfish spirit. Very seldom do our -specialists receive the credit they so ? - richly deserve." He also noted that the Depart of Human Resources is dedicated to providing public assistance in the most efficient, effecitve, and cast conscious way. Some of the future goals in eligibility are to improve the social services system through in creased computer automation, and to reduce unnecessary paperwork, regulations, and red tape. "Eligibility specialists want to en sure that tax dollars pay for needed benefits and not unnecessary overhead or for assistance to people who are not entitled to it,'* Syria con cluded. "Our social services pro fessioanls have proven how much can be accomplished in these areas, and are equally committed to future excellence and human service." create the first impression that some citizens form of government. The financial help provided to the needy is only part of their job. The emo tional support, understanding, and patience they show is equally important." John Syria, Director of the N.C. Department of Human Resources' Division of Social Services, explained that eligibility specialists are re quired to follow complex federal rules and regulations that frequently change. "Our eligibility specialists have responded to increases in federal social services regulations with com plete professionalism," Syria said. "In many cases these specialists work long hours under tremendous stress to meet court ordered monthly deadlines and serve the public. .&uriniteU monument (Eompang t Monuments .* Markers Mausoleums ' Available in granite (of various colors) or marble We Are Direct Factory 1 Representatives v Call Larry Swindell 509 Dobbs St. 426-7311 Chowan hospital did hemocrat and blood pressure testing at the Indian Summer Festival Saturday. Winslow Auctions HAROLD WINSLOW 297-2658 BRENT WINSLOW 297-2839 "Auction Sales is Our Business. . .Not a Sideline." The Perquimans County Board of Education Announces A SUBSTITUTE TEACHER WORKSHOP (Wednesday, Sept. 24th 9:00 - 3:00 P.M.) A qualifying test of general knowledge will be administerd on Tuesday, Sept. 23, 1986 from 8:00 - 12:00 noon. Those participants making an acceptable grade of 70 will be invited to attend the workshop on Sept. 24th. Please Call 426-5741 to register for the test Photography by George \ \ We also copy any size color or black and white -) photograph 426-7274 emories NOTICE TO ALL ALBEMARLE EMC MEMBERS MEMBER MEETING Oats: Your Annual Member Meeting will be held Saturday, September 20th Tim*: Register begins 12:00 Noon Meeting begins 2:00 P.M. PI*C? Kermit E. White Graduate and Continuing Ed ucation Center on the Campus of Elizabeth City State University in Elizabeth City Business Session: Hear reports on your business Elect three Directors P District II, Cm4m Csmt; ? " " ' MfTf MM MttgfS Thtaa N. Smr District fZ, Qmvm Csmtr I*. I lt( District #4 PifQiiimni County Ourtn H. Mttfcm I P. FFA sets workshop date RESTON, VA/This fall, more than 7,500 home economic students and teachers from across the country will attend regional workshops, called Cluster Meetings, conducted by the Future Homemakers of America, a national vocational student organiza tion focusing on leadership develop ment. A $55,000 grant from RJR Nabisco, Inc. will underwrite the meetings. The workshops will train members and teacher advisers in fundraising, public relations, membership development, career awareness, voluntarism and other topics under the meeting them "You Can Do Magic!" "Students will participate in ses sions on such issues as teen pregnan cy prevention, family cooperation, nutrition and fitness," said Louisa Liddell, executive director of Future Homemakers of America from its na tional headquarters in Reston, Va. "Also, the advisers to local chapters will take part in professional development workshops and seminars," she added. RJR Nabisco, Inc. is the sole spon sor of the workshop series scheduled for Indianapois; Boise, Idaho; Vien na, Va.; Oklahoma City; and Knox ville, Tenn. during October and November. "We are pleased to have the oppor tunity to support this caliber of leadership training," said J. Tylee Wilson, RJR Nabisco's chairman and chief executive officer. "By making Cluster Meetings regional events, we look forward to thousands of young people and advisors taking advan tabe of the program." Future Homemakers of America has a membership of 315,000 young men and women organized in a net work of 11,500 chapters in junior and senior high schools across the nation, Puerto Rico and the Virgin Islands. The emphasis of programs is on leadership development, peer educa tion, family cooperation communication and community ser vice. THE PERQUIMANS WEEKLY Classifieds HOST ft FOUNO FOUND A sure fire way to make money fast! Sell those items that you don't use any more through the classified section of The Perquimans Weekly. Our economy rates for classified ads make it easy for you to show a profit. To place your ad call Debbie at 426 572S today! 4-Ni If WANTED HOMEWORKERS WANTED- Top Pay; Work at Home; call Cottage Industries (405) 360 4062. Sept 11 160 00 PfcR HUNDN6D PAID for rtmi iitnu letter* from home I *?nd mM iMmiM. *Ump?d envelope for information/ application auocuhm. Mi M ? ftoaelle. HJ QJXU CAAM HUNOMtUi WfcfcKLY at NmI flooded with var?ou* of ?ersl Dotaila? S*od toil addret?e d ?lamped envelope to; PO I?i 44/. CliHwooa. MJ 0/721 ?- SPECIAL SERVICES AARON HARRELL? Specializing in concrete driveways, asphalt patchwork, and sidewalks. Call 426 7770. Fat turner I Grapefruit Enira fctronei* Capamot and Hydro* water pUM 74MSC. FOR SALE Farm and commercial buildings for sale. J.H. Cuthrell Co., call 1 ?00 602 7777. Washington, N.C. tfn Rich, black topsoil, white sand. Best available. We deliver or load your truck. 264 2361. May 20, tfn Classified Advertisim; is so handy all yiHi do is call' 426-5728 OWN YOUR OAK J t AN ^pwrlfc Mir. liitM cOiiaront/mo torniVy. lor wo mum, polite. donco woor/oorofetc or kimmtwi Hoco jordouio. Chic, in, kfvt. Uod.GI lone, OtNU. Colvin Kioto. b?ryko Vo loo lo. Even Picuno. Lti CUiOorne. Mombof k Only. Cowitoo Muoiioio*. ovor MHt olhor k $14,300 lo I2J.W0 lo vonfory, Irotoing. llalurofc. urood opooiog clc Coo open IS day* Mr inwoy (404)2*2 44if 13-fMPOTY FN SALE Holiday Island Large selection of wooded quarter acre lots tor resale by individual owoers. Off water lots average $2,500. Caoal lots average $6,000 Souodfront lots $15,000 to $20,000 GIFFORD REALTY Ted Weeks, REALTOR 424-7453 Dec. 13, tfn Approximately 1 acre lot for sale located in Perquimans County on White Hat Road, includes septic tank, $8,000, call 771 5824 Sept. 4, 11, 18, 25 LEfiAL NOTICE OF RESALE IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION FILE NO. 84 SP 18 BEFORE THE CLERK NORTH CAROLINA PERQUIMANS COUNTY LILLIA H. SESSOMS and husband, CALVIN SESSOMS, Petitioners vs LARRY 0. OVERTON Respondent AUTO KINTALS HE RENT FOR LESS DAILY-WEEKLY U-SAVE AUTO RENTAL hmf. 17-HmUi US-S171 oinanMcm LEBAL UNDER AND BY VIRTUE of an Order of Resale, the Clerk of Supe rior Court of Perqjimans County, made in the above-entitled proceed ing, the undersigned Commission ers will on the 26th day of Septem ber, 1986, at 1 100 A.M. at the Court house door in Perquimans County, Hertford, North Carolina, offer for sale to the highest bidder for cash, those certain tracts of land located in New Hope Township, Perqui mans County, North Carolina, and being more particularly described as follows: TRACT 1: Beginning at an iron pipe beneath a telephone line at the edge of N.C. Road 1330 and running parallel South 85 degrees 31' East 103 5 feet to an iron pipe; thence South 6 degrees 30' West 350.5 feet to an iron pipe at the middle of a ditch; thence North 85 degrees 00' West down the middle of a ditch 157.0 feet to an iron pipe at the edge of the Herbert Green Estate; thence running parallel with the Herbert Green Estate North 16 de grees 00' East 354.0 feet to an iron pipe, the place of beginning, con taining 1.03 acres according to a map recorded in Book 71, page 8 in the Office of the Register of Deeds of Perquimans County. TRACT 2: Bounded on the East by the lands known as Dr. Blount, John L. Blanchard and others, bounded as follows, viz.: on the East by lands known as the Dr. Blount lands; North by Main Road; West by the Riddick lands and the lands of John L. Blanchard; South by lands of John L. Blanchard and R.L. Blount, containing 13 acres, more or less. For further descrip tion and chain of title see Book 71, page 102, public registry of Perqui mans County. This sale is made subiect to en cumbrances of record, and ad val orem taxes owed, including 1985 taxes. This sale is made for cash and the highest bidder i? required to deposit ten per cent (10 percent) of his or her bid with the under signed commissioners. ANNOUNCING North Carolina Real Estate Salesman Class. Fully certified and licenses by N.C. Real Estate Commission. Begins September 18 and ends October 17 For details call 335-1448 or 338-0888 LEfiAL The resale will start with the up set bid in the amount of THIRTY FOUR THOUSAND, SEVEN HUN DRED AND NO/lOO DOLLARS (*34,700.00) This Uth day of September. 1986 ROBERT B LOWRY, Commi sioner O.C. ABBOTT, Commissioner Sept. 18.25 EVmRUDEE: WAREHOUSE SALES! Brand new Evlnrude & Mercury Outboard* Always 25H Off... More On Non-current* 919-482-8423 ?kM=UWJ;vJ [OUTBOARDS | POHTIAC OtDSMOMIE BUICK HKIIiDB | HOKE i See Shan or Hoke CHRYSLER Plymouth Dodge Trucks Our combination GM & Chrysler lines enable us lo save you hundreds! HO? MOTOR CORP. EDENTON. N.C. 919-492-4421 IAUC
The Perquimans Weekly (Hertford, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 18, 1986, edition 1
11
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