VICTIMS OF OUR ECONOMY

Do Bankruptcy Trustees Have Hidden Agendas?

 

I heard a rumor that I hope is not true.  If bankruptcy trustees get paid a fee like a broker's fee if they arrange for the sale of someone's home during a bankruptcy, isn't that a conflict of interest for them?  It would certainly seem so.

 

If the trustee profits from deciding that the home needs to be sold, then that must be a conflict of interest.  This practice should not be allowed, and I hope that it is not being allowed.

 

My friend is being forced to go bankrupt through Chapter 7 in order to get on top of things again.  Her home is listed as Exempt, because she wants to keep it, but she is only given $40,000 equity credit in the bankruptcy.

 

In the current economy with property values down, she thought she was safe.  But the trustee thought she did not value her home high enough now that homes have sold and property values are beginning to rise.  So, he has requested a Home Appraisal.

 

Now, if her home appraises with her having more than $40,000 equity (aka an asset), then the trustee can insist on her home being SOLD for which he would receive a fee, if this rumor is correct. 

 

Please stop this further abuse of the American working class!!

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TAX LOOPHOLE FOR RICH                        IMPACTS SCHOOLS!!

Wealthy School Board member pushed through a legislative priority so that large property owners, who provide low income housing, are no longer required to pay property taxes.

Apparently, this required some improvement for the properties, and it is rumored that some new lighting was installed.  Essentially, the low income households are not really benefiting from this change, but this change definitely impacted the schools.

School budgets suffered even more cuts and more furlough days, which means no school and no pay.  Even though a 35 cent raise was given, so many furlough days were added that the raise was lost.  One worker went from approximately 200 workdays down to 192 paid days. 

This prominent School Board member was heard saying that the School District was not in the business of providing Living Wage Jobs.

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LIVING WAGE JOBS - HARD TO COME BY NOWADAYS!!

If you look closely at wages right now, you might notice that there is a large majority of workers, who do not make a Living Wage.  We would consider a Living Wage to be a wage that provides enough income for one person to pay for their housing, food and monthly expenses.  A lot of the wages currently do not provide enough money for the employee to pay for these necessities. 

America now seems to require Two-Income Households in order for people to provide for themselves.  This may have existed in the past, but it is definitely more widespread now.  I am sure that there are probably industries that are not dangerous but may still be overpaid, but it seems the majority of average American workers are NO LONGER PAID A LIVING WAGE. 

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