General Findings
It is common in divorces for the financial affidavits to reflect loans from relatives. There must be competent, substantial evidence, in addition to the financial affidavit, to prove a loan. The trial court has discretion to accept or reject the validity of such alleged loans. For example in previous court case the evidence did not support equitable distribution of alleged loan made to wife by wife?s parents; there is no testimony offered regarding the loan, and record contained no evidence of when the loan was incurred, so it could not be classified as marital liability. In a different case there was no evidence to written evidence loan, court did not err in including loan from husband?s parents as marital debt.
When a trial court determines to equitably distribute a debt to a relative as liability of the marriage, it means that the court determines, between the husband and the wife, who should be responsible for that debt. The dissolution of marriage judgment is not a final judgment in favor of the relative for the underlying debt that the relative would be entitled to enforce.
It would be irreparable harm in inconsistent rulings on the parties? entitlement to marital property in a dissolution action when there is a separate action in civil court on the same marital property brought by a family member that will compromise the dissolution judge?s ability to fashion a Final Judgment under Chapter 61 of Florida Statute, both actions should be consolidated.
Lack of evidence can affect the entire equitable distribution scheme and the ability of the court to effect an equitable distribution. The court must have information on all the assets and liabilities at the time of trial. If there is not sufficient evidence presented, the court may ignore ?insignificant assets? or recess for the partied to obtain the evidence for the court to rule on equitable distribution. Alternatively, if there is no or insufficient evidence presented, the parties may end up with a second trial, and the costs and stresses involved. When the parties fail to present any evidence concerning the value of a specific asset, the trial court is entitled to presume that the asset is not of significant value. In that case the trial court does not err by failing to include that specific asset in its equitable distribution scheme.
In the presentation of equitable distribution evidence, more that in any other area, the use of charts and demonstrative evidence is invaluable. Appellate courts have recommended that
divorce court judges show their equitable distribution findings in chart form.
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Posted in Legal · January 28th, 2010 · Comments (0)
Paying Off Credit Cards With a Loan
Many people own one or more credit cards. For them, this plastic card is a tool to manage their finances. By just bringing and presenting the card, they don?t need to have cash all the time when buying the things they want. With just one swipe, they can readily buy almost anything they need. Unfortunately, many are also abusing the use of their credit cards. Often, card owners feel very confident about getting the things they want because of this plastic card. Some even forget the charges that come every time the card is used for purchases and cash advances. They find out only later the high cost they have incurred due to the card when they receive their bill that states a huge balance and interest charges.
Indeed numerous people fall into this category. But it?s never too late to start taking action to correct this attitude and pay for your debts. It?s always better late than never, right? The question is where do you start? This is a common question asked by people who suffer from huge debts which continue to bother them every day of their lives. Some turn to the short term loans such as the payday and cash advance loans. But then again, is this the right thing to do? If we were to ask financial experts, they have no right answer to this concern. Choosing this option has its good and bad points. In other words depending on one?s financial situation, this path may or may not be a good solution.
Using a loan to pay a credit card balance of say $5,000 is considered a valid idea. This is if you?re having difficulty paying your monthly due or worse, you?ve missed payments for a number of months. You can opt for this to stay away from penalties, late payment charges and higher interest rates.
Again, attitude counts a lot when managing your finances. If you?re committed to paying off your credit card balance using a payday or cash advance loan, you need to be responsible that your loan is also paid on time.
Careful planning is crucial before you make your final decision. There are many aspects to consider and doing your homework will definitely help you make the right choice. It?s essential that you find out first the rate of interest on your card and the penalty imposed for missing payments. You will need this information when you search for the right short term lending company and compare their rates. If you dig deep and analyze, credit cards and loans both involve interest charges. The only difference is that penalties accumulate fast if you miss several credit card payments. Every missed payment results in higher interest which can really be a burden to any credit card holder.
On the other hand, personal loans don?t accumulate interest that fast and you can even arrange for a repayment schedule that?s more affordable for you. Another advantage is that with a loan, your attention will then be focused on paying just the amount you borrowed and what this means is peace of mind and less stress on your part.
With Emergency Payday Loans Australia you can get the money you need to resolve your financial emergencies quickly. Check out how to get payday loan online until you receive your next salary.
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Source: http://www.articlealley.com/article_1328477_19.html- Credit Card Processing Services
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Tags: loans
Posted in Credit · January 20th, 2010 · Comments (0)