River Vale NJ, Assemblywoman Holly Schepisi says that banning all plastic bags will , “disproportionately negatively impact poor working mothers “
Schepisi said on Facebook ,”This measure will disproportionately negatively impact poor working mothers in this State. Ban all bags, paper and plastic at grocery stores? How is someone who doesn’t have a vehicle, who uses public transportation, who needs to pick up groceries on her way from work, bring these groceries home? It’s great that a wealthy Senator from New Jersey picked up a radical idea while on his vacation but this isn’t feasible. We should all work on reducing plastic use in N.J. but we don’t have to be the most extreme in every legislative proposal.”
Little Ferry NJ, Acting Bergen County Prosecutor Dennis Calo announced the arrest of HIRALBAHEN BHAVSAR (DOB: 8/20/1989; married; and un-employed) of 310 Liberty Road, Apartment # 35, Little Ferry, N.J. on a charge of Murder and Possession of a Weapon for Unlawful Purpose. The arrest is the result of an investigation conducted by the Bergen County Prosecutor’s Office under the direction of Chief Robert Anzilotti, the Little Ferry Police Department under the direction of Chief Ralph Verdi, and the Bergen County Sheriff’s Office under the direction of Sheriff Anthony Cureton.
Hackensack NJ, Following the arrest of Elmwood Park’s Mayor Frank Caramagna on election fraud charges, a group of Republican lawmakers sent a letter to Attorney General Gurbir S. Grewal requesting his office provide guidelines that would allow the N.J. Division of Elections to issue rules to county superintendents of elections for the purpose of ensuring a secure vote-by-mail process.
The statistics are in and if you’re a millennial, you have every reason to worry. It’s a well-known fact that student loans are a burden to the current generation. This is despite the millennials owning bachelor’s and master’s degrees. On the other hand, it’s these loans that made it possible for them to acquire tertiary level education.
A recent release showed student loans are now just shy of $1.5 trillion ($1.48). To put this into perspective, it is 1.5 times the credit card debt owed by Americans.
With this in mind, it’s easy to see why millennials are unable to find that ever-elusive financial freedom. According to a study done by MagnifyMoney, a millennial with a student loan is worth a mere 25 percent of what a fellow millennial without a loan is worth.
With such disparity, it’s also clear where their income disappears to. Graduating may bring lots of joy, but the journey to the top of the hill is only beginning. Take a look at how fellow millennials struggle with student loans.
The Net Worth Divide
The rift in the net worth of people with student loans and those without continues to widen as the years go by. For example, in 1989, less than 35 households with student loans had only 13% less in net worth, compared to their counterparts without the burden.
Fast forward to 1998, and this figure is almost triple, with the rift widening to 36%, which means the household with a student loan averaged at $68,687 in net worth while those without averaged at $108,146.
Almost two decades later, the gap between the two households stands at a whopping 75%. Those with student loans average $29,087 while millennials without average $114,376. This means those without loans pocketed more than $85,000 than those shackled with loans.
While a college degree can command a lucrative salary, the income will only go toward clearing the debt thereby hindering you from achieving financial freedom.
A Dry Bank Account
Student loans are great since they finance your dreams. However, reality checks in after graduation. If you’re lucky, you’ll get a job, and the income will go toward offsetting the debt. This is the point where your dream of financial freedom dims.
According to studies, those with student loans use a huge chunk of their paycheck to pay off their loans, thus drying their bank accounts. These graduates have an average of $5,500 while those without holds almost double that amount, $10,180.
This creates a chain reaction where these millennials end up taking on more credit card debt as a result of reduced liquid cash. In fact, they form 55% of those with student debts, while those without makeup 32%. Furthermore, they also have huge balances, $2,888 compared to $1,476 for those without.
Reduced Retirement Savings
The chain reaction continues. Since the millennials have less money in their bank accounts, it’s only logical for them to cut down spending on various household items. Even doing so may not be enough to cover the monthly expenses.
This means no left-over to put away as savings for your retirement. The debt-free millennials have an average of $39,905 stashed away on retirement savings. This is $18,745 more than their counterparts with $5000 quick realistic loans, who have $21,160 saved.
However, you can change the narrative by starting to save for your sunset years as early as possible. Remember, these savings work like compound interest. Even a small contribution toward your IRA or 401(k) has the power to grow over time.
Homeownership
If saving for retirement is a struggle, then you can already imagine what kind of effort a millennial with a student loan will need in order to own a home.
The Joint Center for Housing from Harvard revealed that close to 21 million households used over 30% of their income to pay rent.
This is even as income remains stagnant, and rent costs continue to soar, making it difficult for one to realize the dream of owning a home. With student loans, the dream is even further away than expected thereby reducing the number of millennial graduates owning homes—34 percent compared to their counterparts at 36 percent.
Even if they managed to buy a home, their value is much lower, and a massive mortgage is staring right back at them. Those without loans have home values standing at 5% more than those with them. In figures, this $165,000 versus $157,000.
Since it’s difficult to raise the down payment required to pay for a home, these homeowners end up taking on more debt to finance their dream. According to the research done by MagnifyMoney, this translated to an average mortgage of $104,000 compared to $98,000 for those without debts.
The Solution
Taking on loans at a young age may not be the best strategy. However, the best way to tackle this problem is by finding ways to clear the debt as soon as possible. Here are some:
Make extra payments. Take a deeper look at your budget and cut down on expenses. The excess money can go towards making extra payments. This will save you the money you’d have paid in interest.
Ask for a raise at work. Sometimes, the solution to your woes lie in a salary increase. If this doesn’t work, you can change jobs altogether. You can also consider starting a side job to supplement your main income.
Apply for the loan forgiveness program, This is a viable option, especially if you work in the public sector, for example as a teacher.
You can also look for private and state-based programs, which can help you repay the debt. Some employees also offer student loan matching programs, which can help you clear your loan.
Student loan refinancing is also a worthy option. With this method, you have the chance to repay the loan at a reduced interest rate. However, this will only work if you have good credit and income. This will, in the long run, save you the money you’d have paid in interest. Moreover, you’ll be able to clear the loan faster.
While student loans may help you get a college education, the aftermath may be more difficult to handle when the government starts demanding what you owe them. Nevertheless, it’s not the end of the road because there are methods you can use to achieve financial freedom, as highlighted in this article.
Hackensack NJ, The Bergen County Mosquito Control Division, founded in 1914, has the goal of reducing the number of nuisance and disease-transmitting mosquitos within the county. The division employs numerous field-tested techniques in its efforts to control mosquito outbreaks and the insects’ impact on Bergen’s residents. All of this work is done with minimal impact on the environment. The program can be summarized as follows:
Ridgewood NJ, Congressman Josh Gottheimer has been invited to a public town hall on April 22 by a coalition of 13 grassroots groups who are his constituents in NJ Congressional District 5. While the Representative’s attendance is not expected, residents are encouraged to attend, ask questions, and share their concerns with their representative and each other. Everything will be shared with the Congressman following the event.
Hackensack NJ, “Hundreds of Hackensack public school employees received an anonymous email on Saturday night clearly threatening their jobs, based on the outcome of tomorrow’s election. These employees are paraprofessionals — they work in the classroom as teacher aides and they are absolutely essential to our school district’s success. As BOE President, I want them to know that their jobs are absolutely safe no matter who wins. All of the candidates running on Tuesday are supporting the current school budget. There is no “state monitor” and no one’s job is at risk.
Since this dirty trick was obviously done to benefit Timothy Hoffman’s campaign and urges people to vote for his ticket, I am calling on him right now to denounce this blatant scare tactic, condemn this email and identify its source. It is absolutely shameful to scare these employees and their families. Only Tim Hoffman can clean this up right now.”
Madison NJ, this has been reported by the Police in Madison New Jersey . They are warning about a phone scam that has recently targeted some local residents.
According to Police, residents should be an the alert for the “One Ring Phone Scam” where automated phone numbers intentionally ringing one time, repeatedly, and frequently at random intervals.
Dumont NJ, Acting Bergen County Prosecutor Dennis Calo announced the arrest of WILLIAM G. GALLAGHER (DOB: 6/11/1988; single; and self-employed as a website designer) of 36 Erie Street, Dumont, New Jersey on the charges of Distribution Of Child Pornography, greater than 25 files (415 files) and Possession Of Child Pornography, greater than 1,000 files (1,015 files). The arrest is the result of an investigation conducted by the Bergen County Prosecutor’s Office under the direction of Chief Robert Anzilotti.
On Friday, April 5, 2019, members of the Bergen County Prosecutor’s Office Cyber Crimes Unit executed a search warrant at the residence of William G. GALLAGHER during the course of a months-long Internet child pornography investigation. The investigation revealed that GALLAGHER used the Internet to view and possess more than 1,000 digital files depicting nude or sexually explicit prepubescent and pubescent children, and distributed more than 25 files, also depicting nude or sexually explicit prepubescent and pubescent children.
Emerson NJ, John McCann is hoping the second time is a charm , the seasoned campaign veteran and lawyer announced on his Facebook page that he will challenge John Gotteimer in the 5th Congressional District . Vastly outspent McCann came within striking distance in 2018
” I am pleased to announce my candidacy for Congress. All 18,000 plus of you have been tremendous supporters through the last campaign. That is why I am asking you to join me one more time so we can finish the job.”
People take out personal loans for various reasons. But there’s one thing for a fact. Personal loans are less common compared to credit cards. In the US, for instance, only 10% of the citizens apply for personal loans compared to a soaring more than 60% of the population applying for credit cards. Nonetheless, the popularity of personal loans is increasing every day.
So what exactly are personal loans and why should you consider (or not consider) taking one?
Personal loans are quite different from credit cards. The loans are obtained from banks, credit unions and other financial institutions and they require monthly payments over an agreed upon period of time. They are also a type of installment loan. The loans have a term of between two to five years, but this term can be less or higher depending on the loan amount and your agreement with the lender.
The Benefits of Personal Loans
The Loans Can be Used for Different Purposes
There are loans, like mortgages, student loans, auto loans and many others that have restrictions on usage. But with a personal loan, you can use the funds for any purpose. Just ensure that the money is used for a productive project to manage repayments.
No Collateral Required
Some personal loan lenders may need collateral for you to secure the loan but most of them don’t. They can, therefore, be a good option for those who do not have any asset to secure the loan.
You Can Qualify for Large Amounts
Personal loan limits range from $500-$100,000. It is, therefore, possible to borrow huge sums of money if you have large projects to undertake. There are other lenders, like Bonsai Finance who offer the loans with a limit of $500 to $5,000 and they also have flexible terms.
Affordable Rates
Personal loans also have lower rates when compared to credit cards. Provided you have a good credit score, the rates can be as low as 5%.
Disadvantages of Personal Loans
Fixed Payments
With credit card debts, you can take your time for you to pay off your bills, but personal loans require timely payments. If you do not pay the loan, you may risk losing your collateral or if it is an unsecured loan, you can be sued for failure to repay the loan.
Prepayment Penalties
If you apply for a credit card, you can avoid paying interest provided you pay off the balances on time. But when it comes to personal loans, paying the loan before the due date tends to attract a prepayment penalty and this can increase the total cost of the loan.
Personal loans can be a good option if you need funds for carrying out your personal projects. But these loans can also not be suitable for every situation. You, therefore, should do the math to ensure that you can afford to pay the debt on time. If not, you can consider other borrowing options to avoid hurting your credit score by defaulting or making late payments.
Ridgewood NJ, A fourth New Jersey child has died from flu complications this season, Health Commissioner Dr. Shereef Elnahal announced today.
The toddler, from northern New Jersey, died in a hospital early March and had several underlying medical conditions. To protect patient privacy, the Department will not be releasing additional information.
“I am deeply saddened for the family of this young child,” Commissioner Elnahal said. “We are still seeing high flu activity across the state. It’s not too late to get a flu shot to protect yourself and others who may not be able to get vaccinated for medical reasons.”
It is especially important for children, the elderly, health care workers and people with certain health conditions who are at high risk for serious flu complications to get vaccinated, Commissioner Elnahal emphasized. Influenza can cause severe illness and unfortunately can be deadly, especially in these vulnerable populations.
The Department also recommends that people take necessary precautions during this flu season: wash or disinfect your hands frequently, cover coughs and sneezes, stay home and call your health care provider if you are sick (especially with a fever).
In everyday life, people suffer harms caused by others. It is an inevitable consequence of living in any society. If specific legal requirements are met, individuals who suffer certain harms can seek compensation for the damages they may have incurred because of the harm.
This is done through the filing of a personal injury claim. Within this claim, the damages and the cause of the damages will be stated (known as the cause of action) and will be the basis of the lawsuit.
Claims against businesses
All brick-and-mortar businesses have to meet and maintain certain standards of care for the benefit of their customers and the public in general. If a business fails to meet these standards and someone is harmed at that business, then the business owner may be held liable.
The easiest example to think of is the classic slip-and-fall scenario. If a patron slips on butter near the kitchen, on the way to the restroom, then the restaurant owner may be held liable in court.
Businesses are also responsible for the safety of the products they produce. Before any company puts a product into the marketplace, they are required by law to be sure that it will not cause any foreseeable harm to those who buy it. Failure to do so can result in serious financial liability for the company.
For example, if a defective cell phone model has exploded and harmed numerous people, then the manufacturer may be on the hook for millions. Another example would be a set of tires that came off the line defective and caused a crash, or even restaurants, which are responsible for the quality of their food. If a restaurant is found to be the source of an illness that sickened its patrons, then that restaurant may soon be the target of one or more lawsuits.
Vehicular claims
Car accidents account for a large percentage of personal injuries in the United States. This is why insurance is an important requirement. However, in many cases, injured parties will have to bring a personal injury claim separate from their insurance claim, especially if the insurance provisions are inadequate to cover the damages.
How these damages are calculated varies from jurisdiction to jurisdiction. Jeff Preszler, a personal injury lawyer in Ontario, explains that Ontario courts follow the functional approach of calculating non-pecuniary damages; this approach seeks to provide the victim with enough funds to offer “reasonable solace” for their loss. However, other jurisdictions may use other approaches.
Wrongful death
When a person is killed because of another’s action or failure to act, the criminal law gets involved. However, it is not the only legal remedy for victims’ loved ones. Civil law allows certain people of relation to the victim, such as a spouse or child, to file a claim for wrongful death and seek damages. This legal action is not subject to the results of a criminal trial for the same act.
For example, a defendant is arrested and charged with murder. He successfully defends himself at trial and is acquitted. Even though he was found not guilty, the defendant may still be held responsible for that death in civil court. This is because the standard of proof is higher in criminal cases than it is in civil actions.
In criminal cases, a defendant must be found guilty of a homicide or any other crime beyond a reasonable doubt. Whereas in civil court, a defendant is found to be responsible for a death based on a preponderance of the evidence, which requires less legal proof than the reasonable doubt standard.
Defamation of character
The law recognizes a person’s reputation and character as an extension of their own self. Therefore, if a person or business damages the character or reputation of another, they may be held liable for defamation. If the defamation occurs in written form, it is called libel. A newspaper that publishes unfounded statements or lies about someone, risks being sued for libel. If the defamation is done verbally, then the cause of action would be slander. A talk show host, spreading lies about a celebrity on their show would be a case of slander.
It is important to note that truth, no matter how damaging, is one of the defenses against a charge of slander or libel. If a newspaper prints an article about how a certain celebrity is a thief, and that celebrity is in fact a thief, then there is no defamation, no matter how badly the celebrity’s character has been damaged by the printing of the article.
The harms caused by animals
Pets are interwoven into the fabric of human society. Because of this, pet owners are legally required to maintain a standard of care with their pets, in order to keep the public safe. One obvious law that helps keep the public safe from pets is the leash law, which obligates the owner to have his dog on a leash when out in public.
Even when not in public, dog and other pet owners still have the responsibility of protecting the public. Adequate fencing is a must. If a dog gets away from its property because of a hole in the fence, and attacks a passerby, the dog’s owner is most likely liable for the damages caused by the bite and quite possibly other damages, such as harm caused by the infliction of emotional stress.
If you are the victim of a harm that has caused you damage, the civil law may likely have a remedy for you. The list of harms above is not comprehensive, and the examples are there to give you just an idea of the breadth of cases that are actionable with a personal injury claim.
It is recommended that you contact a lawyer as soon as possible if you do indeed believe you have a valid claim. An experienced attorney specializing in personal injury cases will review your case and will help you decide the best course of action for your circumstance.
Teaneck NJ, The trustee of a pension fund has been indicted for embezzling from an employee benefits plan and failing to file annual reports for the plan, U.S. Attorney Craig Carpenito announced today.
Howard Preschel, 62, of Teaneck, New Jersey, is charged by indictment with 10 counts of embezzlement from an employee benefit plan and three counts of failure to file an annual report. He surrendered on March 12, 2019, and made his initial appearance before U.S. Magistrate Judge James C. Clark III. Preschel was released on $100,000 unsecured bond.
