Cell phone store – Cellphone Blocker Jammer http://cellphoneblockerjammer.com/ Tue, 27 Sep 2022 17:15:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://cellphoneblockerjammer.com/wp-content/uploads/2021/11/profile.png Cell phone store – Cellphone Blocker Jammer http://cellphoneblockerjammer.com/ 32 32 Online Short Term Personal Loans Available Now https://cellphoneblockerjammer.com/online-short-term-personal-loans-available-now/ Tue, 27 Sep 2022 17:15:44 +0000 https://cellphoneblockerjammer.com/online-short-term-personal-loans-available-now/ A personal loan is a short-term loan, which you can repay in installments. It’s a great alternative to traditional short-term loans, offering quick cash at extremely high interest rates. With a personal loan, you have the right to prepay the loan to free up income in your spending plan and potentially save on interest. Most […]]]>

A personal loan is a short-term loan, which you can repay in installments. It’s a great alternative to traditional short-term loans, offering quick cash at extremely high interest rates. With a personal loan, you have the right to prepay the loan to free up income in your spending plan and potentially save on interest.

Most short-term loans require proof of employment, a salary statement, a bank account, and a valid driver’s license. Because there is often no collateral and lower credit requirements, these loans charge a higher interest rate (up to 400%) and may incur other fees and penalties.

Let’s dig deeper and explore what short-term personal loans are available, and if there’s a good option for you.

Definition

A short-term personal loan is a type of loan with little or no collateral and a repayment term of less than one year. This may require supporting documentation (such as proof of employment or your credit card history), but in most cases you submit a request and receive your money within 24 hours.

Short-term loans are offered for a maximum amount of $2,000, with repayment in weeks. After the company reviews your application, they send the contract with the approved amount and interest rates. So before accepting, you still have a chance to calculate how much you will have to pay back.

Types

There are a few main types of short term personal loans; they have different features, conditions and fee structures:

  • Payday loans – the loan providing money to borrowers, until they receive their next salary. Let’s say you want a Loan 100 dollars today – payday can do it! The only requirement might be proof of your employment with a payslip. These loans must be repaid quickly and painlessly – otherwise you will be subject to high APRs and fees;
  • overdraft – a form of short-term loan, where customers can obtain temporary cover for charges from their bank if the account does not have the necessary charges. In terms of repayment, these loans are similar to installment loans: a borrower will have regular and frequent payments for a period of time until the principal and interest have been repaid;
  • Car title loans – a type of short-term loan, which allows a borrower to use the vehicle as collateral. Rather, it is an exclusion from the definition of short-term personal loans (which normally have no collateral), but it is a perfect example if we are talking about the high interest rate. If you are late with your payments, the interest charges increase and the loan will cost you much more.
  • Bridging loans – are useful during real estate transactions. For example, when you bought a new house, while the other property remains on the market. For this type of loan, you will need an impeccable credit rating; lenders also prefer borrowers with a low debt-to-income ratio (DTI).

Another popular option for short-term loans is to extend your line of credit with a credit union or bank. It can improve your financial situation at once, without side effects. As a result, a higher line of credit makes you more attractive to lenders.

Choice

If you decide to apply for a short-term loan, consider lenders, who do not charge penalties. In another scenario, you will be asked to pay additional fees if you want to complete the transaction before the agreed time. Isn’t it deeply unfair that paying off the loan sooner could cost you more?

Here is the list of several companies, which will not charge you for such a “service”:

  • happy money – a loan provider with an innovative approach to lending. It offers personal loans, ideal for consumers, who want to save money. Happy Money consolidates high interest rates, giving borrowers exclusive access to more efficient management of their finances. Be aware that while there are no prepayment penalties, origination fees of up to 5% may apply.
  • LightStream – the lender that offers some of the lowest interest rates on personal loans. Same-day financing is available and there are no prepayment penalties or other fees. If you keep in mind that shorter loan terms come with lower interest rates, that makes LightStream a considerable option. And your financial best interest.
  • SoFi – a lender, who can extend you some credit, if your score is at least 680. SoFi customers also get free access to financial advisors, career coaches and other events, dedicated to improving your financial literacy. This lender offers a seamless application experience, saving you from late payments or prepayment fees.
  • Reached – a lender worthy of attention, due to competitive interest rates and fast financing options. Beware, Upstart will assess your credit score and review your work history to determine if you are a good candidate for a loan. If you have a loan with this company and decide to pay it off early, you will not be subject to additional charges. However, you will be asked to pay an origination fee of up to 8%, as well as a late payment fee.

According to the statistics, more than 20 million Americans have unsecured loans. So, before getting approved for funding, check the company’s refund policy. Look for additional fees and interest rates that may apply; ask a financial adviser about prepayment.

The essential

To wrap up this story, we would like you to reassess the purpose you have for a personal loan. Remember that you can always ask your friend or family for money. make the option buy now, pay later; or simply subscribe to a credit card.

Even though short-term loans seem like a great opportunity to cover your needs, their fees and interest rates sometimes exceed 400%. Missing payments will negatively affect your credit score and cost you more in late fees, penalties and interest.

Look for online lenders offering money at no additional cost; check the refund policy and if there is anything extra to pay if you want to complete a transaction sooner. Make sure you’ve done your research and won’t face any negative consequences when working with online lenders.

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Budgeting errors put DuPage County School District in distress https://cellphoneblockerjammer.com/budgeting-errors-put-dupage-county-school-district-in-distress/ Sun, 25 Sep 2022 10:00:00 +0000 https://cellphoneblockerjammer.com/budgeting-errors-put-dupage-county-school-district-in-distress/ Nestled in a leafy, thriving strip of suburban DuPage County, Center Cass School District 66 in Downers Grove appears at first glance to exemplify the best in public education. The neighborhood boasts three neat and modern school buildings, enthusiastic teachers known for their academic rigor, and great personal attention for its 1,100 students in kindergarten […]]]>

Nestled in a leafy, thriving strip of suburban DuPage County, Center Cass School District 66 in Downers Grove appears at first glance to exemplify the best in public education.

The neighborhood boasts three neat and modern school buildings, enthusiastic teachers known for their academic rigor, and great personal attention for its 1,100 students in kindergarten through eighth grade.

But the district’s severe financial difficulties led to deep budget cuts this fall, including reducing the number of teachers and building custodians, eliminating all after-school and athletic programs, reducing bus routes and shortening of the school day.

“We’re doing an education triage,” said teacher Jake Little, who taught social studies at District 66 for 18 years. “The needs of students are so much greater than they were years ago. … We have students reading five grades below, and we don’t have the resources for the interventions and the attention they need.

Now, weeks away from the Nov. 8 midterm elections, teachers, administrators, parents and school board members in District 66 are urging voters to support a property tax hike after years of low tax assessments. and problematic budget practices that plunged the district into crisis.

The financial crisis hitting District 66 has been brewing for years, officials said, and can be attributed to the district’s relatively low tax rate and equalized assessed value, or EAV, which is the value assigned to a property. by the township assessor’s office.

Local revenues are calculated using the local tax rate multiplied by the EAV of the community within the school district boundaries. Of DuPage County’s 30 K-8 school districts, District 66 ranks in the bottom third for tax rate, EAV and revenue, officials said.

Additionally, with very little industry in the area, 90% of the district’s property tax revenue comes from homeowners, with only 10% of its budget coming from state and federal funding.

While the district’s finances are audited annually by outside agencies and monitored by the Illinois State Board of Education, one reason the district’s financial difficulties have not been disclosed earlier is how taxes are collected in DuPage County.

Unlike Cook County, where districts receive their property tax revenue at the start of the school year when the funds are expected to be used, districts in DuPage County receive money in late May or early June for the fiscal year beginning July 1.

District 66 included these taxes in its year-end report for the fiscal year ending June 30, an accounting practice that makes the district’s fund balances healthier than they are. And instead of rolling the funds over to the new fiscal year, the district used those revenues to pay for current-year expenses, a practice that began as early as 2014, District 66 officials said.

The practice had for years painted an inaccurate picture of the district’s health, failing to acknowledge growing deficits and depleted reserve funds, said District 66 board member Chris Esposito.

While the early use of taxpayers’ money isn’t illegal, “it’s a practice that causes all kinds of problems, as we see here,” Esposito said.

The school district has hired new auditors, slashed $2 million from its budget over the past two years, and issued tax anticipation warrants to cover payroll, “which is a fancy way of saying payday loans.” , Esposito said.

“It’s not mismanagement of funds. We don’t have the funds,” said Esposito, who urged voters to attend the October 12 District 66 school board meeting to learn more about the referendum issues.

When District 66 Superintendent Andrew Wise took the helm in July 2020, at the height of the COVID-19 pandemic, he was impressed by Cass Center’s “great teachers, community, and wonderful kids.”

But he found his financial situation troubling: additional revenue was needed to operate, facilities were deteriorating, technological infrastructure was failing, the district’s financial profile with the ISBE had dropped, and the district lacked three to six months of reserves.

“What has happened is that the cost of educating students now includes funding for security and technology. … So much has changed in the past 30 years, and the district’s rising revenue has not caught up with the rising costs of raising a child,” Wise said.

“It was a perfect storm, and if it had been noticed sooner, we would have alerted people sooner,” Wise said.

Voters rejected an earlier request this summer to raise the district’s property tax rate. This fall, voters are being asked to raise the rate from $2.14 per $100 of a property’s assessed value to $2.55.

If approved, it would mean a 19% increase in the Cass Center District post property tax rate on a homeowner’s property tax bill, up from a 24% increase the district requested when of a referendum in June.

For a home worth $300,000, a resident can expect an increase of about $377 per year, or $31 per month, officials said.

If the referendum fails in November, officials said, the district will face deeper cuts for the 2023-24 school year, including potential cuts of eight additional teachers, closing school libraries, removal of programs that are not mandated by the state. like art, music, music and foreign languages ​​- and the extra stop of bus lines.

Nonetheless, some opponents of the district’s referendum proposal say the solution is not to raise local property taxes, but to consolidate District 66 into one of DuPage County’s neighboring districts. In addition to Downers Grove, Center Cass District 66 serves students living in Darien, Woodridge, and unincorporated DuPage County.

“When you look at the state of Illinois, we’re probably the worst in the country when it comes to too many school districts and too few schools in each district,” said Eric Gustafson, councilman for Ward 6 in Darien. .

Gustafson said taxpayers would benefit from consolidation by reducing the number of directors, which he said would significantly reduce the funding needed for payroll.

“The money should be spent on the kids,” Gustafson said, adding that his own three children “got a really good education in the school district.”

“My main question is, ‘Where did all the money go?’ “, did he declare.

But Wise said consolidating school districts “would raise the district tax rate more than what’s proposed with the referendum.” The tax rate in nearby Woodridge School District 68 is $4.34 per $100 of equalized assessed assessment, nearly double that of District 66, Wise said.

Consolidation would also cause the district to lose local control of its decision-making, he said.

A spokeswoman for the Illinois State Board of Education said District 66’s Financial Profile score of 3.45 out of 4 for 2021 qualifies the district for financial review, a designation reserved for districts that score between 3.53 and 3.08. Those who score 3.07 to 2.62 are put on financial warning, while those between 2.61 and 1 are on financial watch.

“The profiles examine five key indicators of financial integrity: fund balance-to-income ratio, expense-to-income ratio, days on hand, percentage of short-term borrowing capacity remaining, and percentage of remaining long-term borrowing capacity,” ISBE spokeswoman Jackie said. Matthews said in a statement.

Some supporters of the District 66 tax rate increase referendum have expressed concern that the state could “take control” of the district, as it did with School District 187 in North Chicago in 2012. This district has just received the green light from the ISBE to transition from a state-appointed board to a locally elected school board.

But District 66 appears to be a far cry from that fate, because a district’s financial profile score is different from the criteria the state uses to trigger a financial takeover. If a district meets the criteria, it must first submit a financial plan to the state. The state appoints a financial oversight committee only if it determines the district has not followed its plan, according to Matthews.

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Elizabeth Uribe, a community group volunteer with the Save Center Cass School District 66 and mother of a kindergarten and second-grader in District 66, said passing the referendum in November was key to preserving the district’s reputation as a destination school system.

Despite major budget cuts this fall, the community is coming together to support students, including hosting a community 5k run on Friday afternoon for members of the cross-country team, whose season was canceled this fall due to budget cuts.

“I think it was a really tough decision, with the district cutting after-school activities, but it energized the community,” Uribe said.

“Children lack services, and the only things left to cut are hurting our children,” she said.

kcullotta@chicagotribune.com

Twitter @kcullotta

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Unlicensed Lawyer Loans Case Reaches Judgment https://cellphoneblockerjammer.com/unlicensed-lawyer-loans-case-reaches-judgment/ Fri, 23 Sep 2022 09:57:26 +0000 https://cellphoneblockerjammer.com/unlicensed-lawyer-loans-case-reaches-judgment/ A Queensland lawyer who set up a fake diamond business, selling payday loans to vulnerable people, has lost his appeal to renew his license. Robert Legat, former director and legal adviser of Fast Access Finance (FAF) in Queensland, has been investigated for the scheme, which authorities say involved Legat preying on vulnerable customers who have […]]]>

A Queensland lawyer who set up a fake diamond business, selling payday loans to vulnerable people, has lost his appeal to renew his license.

Robert Legat, former director and legal adviser of Fast Access Finance (FAF) in Queensland, has been investigated for the scheme, which authorities say involved Legat preying on vulnerable customers who have approached his company for short-term loans.

Queensland barrister Robert Legat.Credit:LinkedIn

Instead, customers were offered the option of buying, on credit, diamonds that were being kept off-site, investigators said.

The Australian Securities and Investments Commission banned Legat in September 2017 for his role in designing the scheme.

The diamond model has been the subject of several court hearings, including the Federal Court in 2015 and 2017.

Customers would sign a privacy law consent form, which said the customer had asked to “borrow a certain amount of money,” and then sign other forms, including a purchase agreement of diamonds.

A screenshot of the Fast Access Finance website in 2012. It has since been removed.

A screenshot of the Fast Access Finance website in 2012. It has since been removed.Credit:fastaccessfinance.com.au

The purchase price was $250 per diamond.

The diamonds would then be sold to another company, Diamond Clearing House Pty Ltd, for half the purchase price, and the customer would receive cash.

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The era of low interest rates is coming to an end – its legacy is inequality and toxic politics | William Davies https://cellphoneblockerjammer.com/the-era-of-low-interest-rates-is-coming-to-an-end-its-legacy-is-inequality-and-toxic-politics-william-davies/ Wed, 21 Sep 2022 11:28:00 +0000 https://cellphoneblockerjammer.com/the-era-of-low-interest-rates-is-coming-to-an-end-its-legacy-is-inequality-and-toxic-politics-william-davies/ On Thursday noon, the Bank of England’s monetary policy committee will announce an interest rate hike. Some City analysts predicted the announcement would raise the rate by 0.75 percentage points (mimicking that of the European Central Bank in early September) to a total of 2.5%. An upward jump of this magnitude has not happened since […]]]>

On Thursday noon, the Bank of England’s monetary policy committee will announce an interest rate hike. Some City analysts predicted the announcement would raise the rate by 0.75 percentage points (mimicking that of the European Central Bank in early September) to a total of 2.5%. An upward jump of this magnitude has not happened since the Bank became independent in 1997. And the last time interest rates rose by more than half a percentage point in either direction , this was at the height of the 2008 banking crisis, when they were reduced. quickly in order to support the flow of credit.

Even if, as other observers expect, the announcement is limited to a 0.5 percentage point hike, it will be one more step on a staircase that should reach at least 4% by the start. next year. Regardless of the pace, these increases mark the conclusion of one of the most extraordinary experiments in economic policy in modern history. The architects of this era – characterized by exceptionally low interest rates – were unelected technocrats rather than politicians, and yet they leave a deep political and economic legacy of spiraling inequality, channeled above all through the ownership of housing.

In the 314 years between the founding of the Bank of England and the 2008 crisis, interest rates had never fallen below 2%. But for most of the past 14 years, they have been below 1%. Throughout David Cameron’s time in Downing Street, interest rates were stuck at the previously unthinkable level of 0.5%. When disruption hit in the form of the Brexit vote, it was further reduced. When an even bigger shock hit in the form of international lockdowns, they were further reduced, down to 0.1%. Added to this was the asset purchase program (quantitative easing), which further lowered effective interest rates and which is only gradually unwinding.

The reasons for these exceptional decisions were clear. The financial system seized up between 2007 and 2009, with banks becoming reluctant to lend to each other. Cheap money was injected like a blood transfusion to stabilize the system. George Osborne’s austerity measures, which falsely blamed Britain’s economic woes on public debt, resulted in economic stagnation so severe that only unprecedented monetary policies could stave off a depression. With the government’s refusal to stimulate the economy through fiscal policy and inflation well below the Bank’s 2% target, the task of growing the economy fell to monetary policymakers, whose only tool was to create more and more cheap money, and whose only point of intervention was high finance. None of this was intended to channel money to areas of greatest social need, and it did nothing to help those who depended on unsecured borrowing through credit cards or payday loans.

What about the social and political heritage of this now bygone era? It was, of course, a time of rapid property price inflation, fueled by the ultra-cheap mortgages on offer. This in itself was not unprecedented: house prices also skyrocketed during the Blair era (up 25% in 2002 alone), a time when interest rates were at historically normal levels. .

The difference with the post-2009 regime was, first, that access to all that cheap credit was drastically restricted by regulators, to prevent riskier lending. This produced the spectacle of “safe” borrowers being able to access incalculable financial opportunities, while others were excluded. This meant a massive potential outlay of credit for owners of existing assets, including existing owners.

In 2016, rental properties accounted for 20% of all mortgages by value. Homeowners who had already built up a comfortable cushion of capital had the luxury of refinancing at ultra-low cost (often paying much less for housing than renters), with many becoming cash-rich when equity was withdrawn. Thousands of middle-class loft, car, luxury bathroom and vacation conversions over the past 13 years are ultimately side effects of the Bank of England’s efforts to stimulate the financial system. In 2021, a record £4.3 billion equity was released by the British owners.

Second, stagnating wages after 2008 meant that (except for those working in financial and business services) opportunities to join this the propertied class moving up the housing ladder became increasingly dependent on family gifts and inheritances. One of the many dysfunctional legacies of the 2009-2022 era is extreme intergenerational inequality in wealth and space, so that those over 65 now have 47% of total home equity and 7.4 million “additional” rooms. Many rental landlords have come to view rental properties as their main retreateven a guaranteed income for their own children.

The intergenerational politics resulting from this toxic settlement has been well documented by people like Chloe Timperley and Keir Milburnand manifests itself clearly in electoral behavior. It’s well known that older voters are more likely to vote Conservative and to have voted Leave in 2016, but less often noted is that these voters are also much more likely to be homeowners.

But it has also produced an unpleasant form of economic progress, which breeds paranoia and resentment for all. Every time the UK economy has struggled over the past 14 years, things have gotten even better for asset owners. As money was drained from local government by Osborne, trade froze due to Brexit, and workplaces and pubs were closed due to Covid, more cheap money was put in disposal and prices of real estate (and other assets) have risen further. No money for a new public swimming pool; a lot for a new freestanding bathtub. Margaret Thatcher’s famous phrase “There is no society. There are individual men and women and there are families” moved from dogma to everyday reality.

For those who managed to lock in their interest rates before August, the exclusive party will continue for a few more years. But symbolically and politically it is over. What will follow? Liz Truss and Kwasi Kwarteng have made it clear that they have no egalitarian sympathy, and the unprecedented tax expenditure of capping household energy bills will be deeply regressive. House prices are expected to fall in 2023, but wages are already falling at their fastest pace on record. None of this looks good and will surely cost Truss votes.

Rising interest rates right now will make things worse for millions of people and will do nothing to bring down prices that are high for geopolitical reasons, like the war in Ukraine. But looking back to that unique and strange time after 2009, we should be clear that cheap credit – for some – was never a sufficient answer to Britain’s economic problems, and see it as such. has been the cause of many social injustices, status anxieties and anger in recent times.

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Cash Advance Apps vs Payday Loans: Which is Better? https://cellphoneblockerjammer.com/cash-advance-apps-vs-payday-loans-which-is-better/ Sun, 18 Sep 2022 16:00:36 +0000 https://cellphoneblockerjammer.com/cash-advance-apps-vs-payday-loans-which-is-better/ (NerdWallet) – If you’re asked to imagine a payday lender, you might think of a storefront in a strip mall with green dollar signs and neon slogans like “everyday payday.” You probably wouldn’t imagine a mobile app that advertises on TikTok and sports a colorful logo. But cash advance apps like Earnin and Dave provide […]]]>

(NerdWallet) – If you’re asked to imagine a payday lender, you might think of a storefront in a strip mall with green dollar signs and neon slogans like “everyday payday.” You probably wouldn’t imagine a mobile app that advertises on TikTok and sports a colorful logo.

But cash advance apps like Earnin and Dave provide advances with the same borrowing and repayment structure as payday lenders, and consumer advocates say they carry similar risks. Both are quick, no-credit-check options for closing an income gap or easing the pressure of inflation.

Neither is an ideal first choice for borrowing money quickly, but knowing their differences can help you save money and avoid hurting your finances.

Cash advance apps work like payday loans

Like most payday loans, a cash advance or paycheck app lets you borrow money without a credit check. You are also required to repay the advance, plus any fees you have agreed, on your next payday.

A single payment cycle is usually not enough for borrowers to repay payday loanso many people fall into the habit of getting another loan to pay off the previous one, says Alex Horowitz, senior director of The Pew Charitable Trusts.

App users may find themselves in a similar cycle. A 2021 study by the Financial Health Network found that more than 70% of app users get back-to-back advances. The study doesn’t say why users re-borrow, but Horowitz says the behavior is particularly similar to payday loans.

“Direct-to-consumer payday advances share DNA with payday loans,” he says. “They’re structured the same, they have repeat borrowings, and they’re scheduled based on the borrower’s payday, which gives the lender strong collectability.”

Apps can offer more flexibility

Payday lenders and payday advance apps collect repayment directly from your bank account. If your account balance is too low when funds are withdrawn, you could incur overdraft fees, says Yasmin Farahi, senior policy adviser at the Center for Responsible Lending.

An application may try to avoid overcharging your account. Mia Alexander, Vice President of Customer Success at Dave, says the app reviews users’ bank accounts before withdrawing the refund. If the refund puts the balance close to zero or negative, the app may not withdraw the funds, she says.

However, apps typically include language in their user agreements that while they try not to overcharge your account, they aren’t liable if they do.

In states where payday loans are allowed, a payday lender is unlikely to offer a free, unsolicited payment extension, as some apps say. Some states require payday lenders to offer extended payment plans at no cost to troubled borrowers, but a 2021 report from the Consumer Financial Protection Bureau says some lenders are misrepresenting plans or not disclosing them.

Unlike payday lenders, the apps don’t make collection calls. If a user revokes access to their bank account to avoid a refund, the app will not attempt to collect the funds. The user simply cannot get another advance until they repay the previous one.

Payday loans cost more

Payday loans tend to have high mandatory fees, unlike apps. Instead, they charge a small fee that users can accept throughout the borrowing process. These fees can add up, but they are usually lower than those charged by payday lenders.

For example, an app might charge a monthly subscription fee or a fee for instant access to funds. Most cash advance apps also ask for a tip for service.

The charges on a $375 payday loan are most often about $55 over a two-week period, Horowitz says. Since the cash advance application fee is mostly optional, you can easily keep the cost below $10.

Earnin user Sharay Jefferson says she’s used payday loans in the past, but switched to a cash advance app because it’s a cheaper way to cover bills and unexpected expenses.

“If you get a $200 payday loan, you might be paying something back three times over,” she says. “With Earnin, I’m going to have to pay that $200 back, plus whatever I decide to give them. It’s much cheaper. »

Technically, apps are not lenders

Regulators like the CFPB have not classified payday advance apps as lenders, despite their similarities to payday loans.

Earnin CEO and Founder Ram Palaniappan says the app is more like a payroll service or an ATM because it makes it easier to access your own funds. Earnin asks users to upload a timesheet showing they worked enough hours to earn the cash advance amount. Other apps scan a user’s bank account for income and expenses to determine if they qualify for an advance.

Farahi says applications should be treated like creditors, meaning they would follow the Truth in Lending Act, which requires creditors to disclose an annual percentage rate. An APR allows consumers to compare costs between financing options. For example, users can compare the APR of a cash advance app to that of a credit card and choose the most affordable.

“People still need to know what the real cost of credit is and to be able to assess it and really compare that cost to other options,” she says.

Applications should also comply with applicable state lending laws. Currently, 18 states and Washington, DC, have maximum interest rate caps that could limit application fees, she says.

Cash Advance App vs Payday Loan: Which is Better?

If you need cash urgently, you can have better alternatives than payday loans and advanced apps, says Farahi.

Local charities and nonprofits can meet basic food and clothing needs. A family or friend could lend you money at no additional cost. If you have a few hours to spare, a side gig could generate as much money as a typical payday loan or cash advance application.

If you have the choice between an app and a payday loan, the app is probably the best option because:

  • It is less expensive.
  • It may not trigger overdraft charges.
  • If you don’t pay it back, the app won’t send you to collections.

A cash advance from an app is unlikely to leave you in a better financial position, Farahi says. But it may be a little less likely than a payday loan to make things worse for you.

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Michigan spent $2.5 million to be a rocket hub. Critics say it only produced hype https://cellphoneblockerjammer.com/michigan-spent-2-5-million-to-be-a-rocket-hub-critics-say-it-only-produced-hype/ Wed, 14 Sep 2022 20:45:55 +0000 https://cellphoneblockerjammer.com/michigan-spent-2-5-million-to-be-a-rocket-hub-critics-say-it-only-produced-hype/ “It’s truly remarkable that someone is considering putting a heavy industrial facility [like a launch pad] on the coastline of the largest body of fresh water in the world,” said Dennis Ferraro, who lives about 3 miles from the selected site and leads the opposition group Citizens for a Safe & Clean Lake Superior. “It’s […]]]>

“It’s truly remarkable that someone is considering putting a heavy industrial facility [like a launch pad] on the coastline of the largest body of fresh water in the world,” said Dennis Ferraro, who lives about 3 miles from the selected site and leads the opposition group Citizens for a Safe & Clean Lake Superior.

“It’s just a horrible idea. Ecologically, it is a disaster.

In Chippewa County, officials were thrilled after the Michigan Launch Initiative selected the base as its command site in January 2021. However, Brown’s group has yet to file the necessary permits with the Federal Aviation Administration to the project.

“I think everyone turned around, like we did, and said, ‘What have we won?

“There is no structure there. There is no money for that.

At Oscoda, airport officials are agitated and awaiting answers after Brown’s group suggested the former Air Force base as the site in 2020.

Airport board member Kevin Boyat said he still remains hopeful, but officials can’t get answers from Brown.

The board sent a letter months ago, he said, giving Brown 45 days to respond. He heard nothing back, Boyat said.

“It’s like ordering a new car and waiting six years [for it],” he said. “When you ordered it, you were excited.”

“It took so long and we can’t get any information from Gavin,” Boyat said.

Brown said he has complied with all state requests for information and remains confident about the state’s space outlook. He also played down environmental concerns, saying any vertical launch at Marquette would use “green energy,” some of which has yet to be developed.

But he also said no final decision has been made on when to apply for a spaceport license from the Federal Aviation Administration. This will come after a final decision as to whether it makes economic sense to proceed.

“It will start when it makes sense to start,” said Brown, who is also executive director of the Michigan Aerospace Manufacturers Association, which is an integral part of the space project.

Like all non-profit organizations, it is required to public tax declarations, on request. A Bridge search of publicly available records shows that only his 2010, 2011 and 2019 are currently available.

Bridge asked Brown and his accountant for copies of other tax returns on several occasions. Brown said he would provide them, including again in a midday email on Wednesday, September 14. At the time of publication, they were not provided by the publication.

Existing tax records show that 88% of his total revenue of $1.5 million in 2019 came from state grants.

“There was something wrong”

The turmoil comes amid what is otherwise an exciting time for space exploration.

As NASA prepares to back to the moon and the space industry approached 500 billion dollars last year, Michigan is entering the race to be a hub for launches into low Earth orbit.

It has an inherent advantage due to its location, more than halfway up the North Pole from the equator, which allows launches into “polar” orbits coveted by some commercial satellite companies.

Lawmakers funded the space effort through the belated approval of a budget that provided money for former Gov. Snyder’s pet projects in the final days of his administration.

Governor Gretchen Whitmer initially refused to honor funding for the space effort, citing a lack of details.

But after lawmakers agreed to the changes, his administration funded the project, and the quasi-government Michigan Economic Development Corp. oversaw the grant to “assess the feasibility of a low orbit launch site in Michigan”.

The Michigan Launch Initiative was scheduled to complete work in January 2021 but received two extensions. At the same time, its grant increased from $2 million to nearly $2.5 million.

The grant surprised Kirk Profit, a former lawmaker turned lobbyist.

He said the funds were raised shortly after Brown requested a $2 million investment from Kalitta Air to fly rockets into the stratosphere in its cargo planes at Willow Run and Oscoda airports.

Profit was Kalitta Air’s lobbyist at the time and said he and the company could find little on Brown’s background.

“We checked it. We finally shelved it,” Profit said recently. “There was something wrong.”

Conflicting studies

Michigan is forging ahead, though some critics say the state is lagging far behind others in the race to build infrastructure for the booming space industry.

One of the primary sources of criticism from critics is a report commissioned by Brown’s group.

The IQM Research Institute article noted that since Brown floated the idea of ​​the Michigan launches, the economics of the commercial space industry have changed dramatically.

The report, written by former air force brigadier general Michael Dudzik, who commanded all of the branch’s space forces, says the cost of putting satellites in space was dropping dramatically, from $7,000 a pound to less than $1,000. And a few big players – including Elon Musk’s SpaceX – dominated the market.

Just one more dozen spaceports in 10 states have received FAA licenses in recent years, and most have not staged a single launch.

In its 2021 report, IQM reported that there had been just 16 polar-orbiting launches — like the ones Michigan could host — at three U.S. spaceports in the previous three years.

In fact, with other locations dominating the market, IQM’s report concluded that so few new businesses would surround the launch sites that even if there was one launch per week, “annual revenue generated… would have the same revenue impact in the state equal to the annual revenue of two additional fast food chains.

“He was just selling the concept, but he was separated from the fundamental facts,” Dudzik told Bridge.

Brown criticized the finding during an interview with Bridge, saying it unfairly characterized the value of the food and beverage industry.

Dudzik’s report went “beyond the scope” of what it was asked to investigate, he added.

“No business case has been made,” he said.

Brown’s nonprofit website, however, includes a study that explores the “Business case” for launches.

The four-page study from August 2021 concludes that the sites could attract 30 aerospace companies and deliver $13.2 billion in economic impact over the next 10 years, a “potential return of 40 times the investment in terms of economic impact for the State of Michigan”.

The reasons for optimism

Even with the turmoil, many remain optimistic that Michigan could capitalize on the space industry.

The IQM report concluded that Michigan could still benefit without committing tens or hundreds of millions of dollars to launch facilities, as has happened in other states, including New Mexico, Colorado and Georgia.

Michigan has great advantages, with or without launch sites, said Greg Autry, director of the Thunderbird Initiative for Space Leadership, Policy and Business at Arizona State University.

He said Michigan’s manufacturing heritage makes it uniquely positioned to build rockets and their components. But focusing on launch sites before identifying a rocket builder is “kind of putting the chicken before the egg,” he added.

Michigan’s space efforts are “half-hearted,” Autry said, because they lack vigorous collaboration between government and the private sector.

The Colorado Space Coalition includes state government leaders as well as representatives from academia and the private sector. Although its launch site was not used, the coalition is actively working to develop the state’s aerospace industry.

If Michigan adopted Colorado’s model and got everyone around the table, “you’d move Colorado in the blink of an eye,” Autry said.

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These loans should be avoided..? Do you know why? https://cellphoneblockerjammer.com/these-loans-should-be-avoided-do-you-know-why/ Sat, 10 Sep 2022 12:03:01 +0000 https://cellphoneblockerjammer.com/these-loans-should-be-avoided-do-you-know-why/ These loans should be avoided..!? Do you know why? Many people think they shouldn’t take out loans. But at the end of the month, we will be forced to take out loans. This will be unavoidable in middle-class families earning a monthly salary. However, experts say they can avoid taking out some loans. Why do […]]]>
These loans should be avoided..!? Do you know why?

Many people think they shouldn’t take out loans. But at the end of the month, we will be forced to take out loans. This will be unavoidable in middle-class families earning a monthly salary. However, experts say they can avoid taking out some loans. Why do we say to avoid only certain loans? What is the reason for this? Let’s see.
Payday loan:
It is impossible to avoid borrowing during the current period, but it is very important to avoid payday loans. In particular, these loans are taken by small entrepreneurs, small traders and those who have shops in the daily market as individuals. You have to buy it in the morning and pay in the evening. Interest on these types of loans can be very high. It should therefore be avoided.
Car title loan:
A car title loan is usually a high interest loan. You can donate your vehicle and get it back within a month with interest first. Usually the interest on these loans is high. The vehicle may be sold if payment is not made within the time limit.
Advance on credit card:
In order not to use credit cards unnecessarily, some people take credit card advances. After that, interest may continue to accrue as interest. The interest rate is very high. If you don’t pay it on time, the penalty is very high.Casino loan:
Such loans are very rare in India. However, these loans are loans that should be avoided. These loans are used to promote sports in foreign countries.
Pawnbroker:
Many people can have this experience. Usually we get such loans by pawning our jewelry. Failure to pay this debt on time may result in your property being auctioned off. This includes restricted loans of a lower amount for more expensive real estate in rural areas.

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Pay-as-you-go helps American workers pay their bills more easily, save money and avoid the cycle of debt, according to new research from the Mercator Advisory Group https://cellphoneblockerjammer.com/pay-as-you-go-helps-american-workers-pay-their-bills-more-easily-save-money-and-avoid-the-cycle-of-debt-according-to-new-research-from-the-mercator-advisory-group/ Thu, 08 Sep 2022 15:03:00 +0000 https://cellphoneblockerjammer.com/pay-as-you-go-helps-american-workers-pay-their-bills-more-easily-save-money-and-avoid-the-cycle-of-debt-according-to-new-research-from-the-mercator-advisory-group/ The financial wellness advantage can be critical, especially in times of high inflation, high gas prices and financial hardship. Nearly eight in 10 respondents say DailyPay helps them avoid expensive or predatory alternatives NEW YORK, September 8, 2022 /PRNewswire/ — Amid continued inflation and the high cost of everyday items, millions of American workers are […]]]>

The financial wellness advantage can be critical, especially in times of high inflation, high gas prices and financial hardship.

Nearly eight in 10 respondents say DailyPay helps them avoid expensive or predatory alternatives

NEW YORK, September 8, 2022 /PRNewswire/ — Amid continued inflation and the high cost of everyday items, millions of American workers are using essential financial benefits offered by their employers to pay their bills. A new report from Mercator Advisory Group (commissioned by DailyPay) reveals that nearly eight in 10 survey respondents (77%) said DailyPay’s on-demand payment benefit helps them save money by avoiding other more expensive alternatives to manage expenses.

Some studies showing up to 77% of Americans carrying some form of debt, inflation can be financially crippling. For many of the approx. 58% of Americans, living paycheck to paycheck, according to a recent report by LendingClub, help from their employers is needed to survive these seemingly insurmountable financial challenges. Pay-as-you-go benefits can help employees better manage their cash flow and avoid a cycle of debt. More than 90% of respondents to the Mercator study reported an improvement or elimination of the use of traditional financial alternatives such as overdraft fees, payday loans and late fees.

“On-demand compensation solutions have highlighted the benefits these flexible compensation options offer workers to avoid costly forms of financing and help make ends meet,” said Sarah Cave, Director of Debit Advisory Services, Mercator Advisory Group. “With this study, we can now quantify the level of savings that workers achieve by decreasing or completely avoiding the use of payday loans, overdraft fees and biller late fees.”

The ability to access earned compensation can be the difference between making a payment on time or incurring high fees. More than half (53%) of respondents to the Mercator study indicated that using pay-as-you-go helped them avoid late fees to billers.

The price of groceries increased by 12.2% in the last year. Unsurprisingly, 78% of respondents in the Mercator survey say grocery bills are the area in which they have used pay-on-demand support the most, followed by utilities (64%), and transportation and automobile insurance (54%).

“This study confirms that pay-as-you-go can be an effective solution to the overdraft and predatory debt crisis,” said Matthew Koko, Vice President, Public Policy, DailyPay. “With access to on-demand compensation, workers report a significantly increased ability to take control of their financial future,

For more information on Mercator’s report, including survey methodology, click here.

About Daily Pay

DailyPay, powered by its cutting-edge technology platform, is on a mission to create a new financial system for everyone. DailyPay offers the industry-leading on-demand payment solution with modern, insight-driven compensation strategies that help leading U.S. employers activate their workforces and build stronger relationships with their employees so that they feel more engaged, work harder and stay longer. With its extensive data network, proprietary funding model and connections to over 6,000 banking system endpoints, DailyPay ensures money is always in the right place at the right time for employers. DailyPay is headquartered in New York Citywith operations based in Minneapolis. For more information, visit www.dailypay.com/press.

Media Contact
David Schwarz
[email protected]

Gabriella Lourie
[email protected]

SOURCEDailyPay

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Michigan man owed $25,000 in pandemic unemployment, class action claims https://cellphoneblockerjammer.com/michigan-man-owed-25000-in-pandemic-unemployment-class-action-claims/ Tue, 06 Sep 2022 20:18:00 +0000 https://cellphoneblockerjammer.com/michigan-man-owed-25000-in-pandemic-unemployment-class-action-claims/ DETROIT — Paul Kreps waited months for pandemic unemployment benefits. But the checks totaling $25,000 never arrived. Michigan’s Unemployment Insurance agency approved Kreps, 31, for benefits when COVID-19 restrictions forced him to shut down his Monroe pest control business in April 2020. But more than two years later , he still has not seen a […]]]>

DETROIT — Paul Kreps waited months for pandemic unemployment benefits.

But the checks totaling $25,000 never arrived.

Michigan’s Unemployment Insurance agency approved Kreps, 31, for benefits when COVID-19 restrictions forced him to shut down his Monroe pest control business in April 2020. But more than two years later , he still has not seen a penny.

“It upset me,” he said. “Because we are here, we lose everything we have. They say they send me money, but I can’t get it. My children are hungry, we have no food, we are literally starving because we have no income.

Kreps is now one of five people suing Michigan’s unemployment agency.

Related: Unemployment waivers relieve thousands of people. More Michiganders are still waiting.

A class action lawsuit filed in federal court by David Blanchard of Ann Arbor-based Blanchard & Walker in late August claims the agency froze payments for thousands of workers during the pandemic while not allowing workers to appeal . Blanchard is also behind another class action lawsuit alleging that the unemployment agency unlawfully requested reimbursement of benefits.

“It stands up for those left behind in this pandemic who were eligible, otherwise qualified, and who still cannot be paid,” Blanchard said.

The unemployment agency responded to a request for comment highlighting Director Julia Dale’s recent efforts to “improve access to unemployment benefits for skilled workers who have lost their jobs through no fault of their own.” The agency announced last month that it had received a $6.8 million grant to help underserved communities.

Payments halted for thousands of workers, lawsuit says

The central claim of the 53-page complaint is that Michigan workers have been denied due process.

It alleges that five plaintiffs were entitled to unemployment benefits, but the state agency violated this “well-established right” by cutting off benefits or revoking eligibility without providing an appeal process. Workers then left “without a lifeline” were placed in “financially difficult situations” as Michigan unemployment hit nearly 23% in April 2020.

“Why are you doing this, people? Michigan’s unemployed poor are being treated like this,” Blanchard said.

Related: Michigan unemployment agency illegally demanded reimbursement, class action claims

Kreps qualified for $362 a week from the state and additional help from the federal pandemic unemployment assistance program. But his MiWAM account, the online unemployment system, shows that each of the 44 weekly payments has been frozen by a “stop payment indicator”.

“I sent them all my information: my social security card, my birth certificate, my marriage license. And I couldn’t hear anymore. I called them every week and they said I still had to certify,” he said.

A screenshot of Paul Kreps’ MiWAM account shows that dozens of unemployment payments have been halted by a ‘stop payment indicator’. A class action lawsuit filed against the Michigan Unemployment Insurance Agency in federal court on August 26, 2022 claims Kreps owes $25,000 in benefits. (Photo provided by Blanchard & Walker)

The lawsuit says Michigan’s employment agency slapped tags like ‘stop payment flag’ or ‘benefit payment review’ on thousands of eligible applications, causing some to wait months while “many were never paid at all”.

Kreps, unemployed for the first time in his life, lived for almost a year without income or unemployment assistance.

During this time, he paid the bare minimum on utilities. Her parents took out a second mortgage to prevent the family of four from losing their home. And the dangling promise of benefits has taken its toll on Kreps, his wife of 11 years and their two children.

“We lost pretty much everything we had,” he said. “I couldn’t find a job even though I tried, but no one was hiring because it was a pandemic. We literally lost everything. We were lucky to have my parents who took out this second mortgage to help us out, but without them we would have been homeless.

Related: Michigan unemployment agency ordered to stop collections for some workers

An October 2020 policy prompted the agency to “arbitrarily freeze benefit payments” without explaining why, according to the complaint.

As a result, workers struggled to pay rent and mortgages, took out high-interest payday loans, and borrowed from retirement accounts — all of which the lawsuit said had an “impact disparate on communities of color, mothers and caregivers, and other disadvantaged populations.”

“It’s fine if you need to review it, if you have the ability to review it,” Blanchard said. “But instead it put people under scrutiny and froze their accounts knowing the agency doesn’t have the resources to actually look into it. Just a recipe for disaster, just absolute purgatory and a financial ruin for people.

Embroiderer, cooking demonstrator and teenage worker

Besides Kreps, four other workers are named in the lawsuit.

He claims they are all Michigan workers who never received payments, were denied benefits when appealed, did not get their benefits back after a redetermination, or were hit with a notice of overpayment requiring reimbursement.

“It’s illegal,” Blanchard said. “It’s well established. There is precedent that you cannot arbitrarily deprive people of benefits without a hearing.

Claimant Robin Shipe faced ‘utter confusion’ when he tried to get unemployment benefits.

As the owner of a printing and embroidery business, Shipe was declared eligible for aid until the agency froze her account and reversed its decision. She appealed twice, but the lawsuit claims “the agency removed Shipe’s appeal” and issued a third new ruling in May 2022. She then appealed a third time a month later.

“To date, Shipe has never received pandemic relief benefits,” the lawsuit states.

Related: Michigan wipes out $431 million in pandemic unemployment overpayments

For Zachary Brazil, whose job is not specified in the lawsuit, and a teenage worker identified as IF, their benefits would have been frozen.

The lawsuit says Brazil’s payments were blocked after a few weeks by a stop-payment indicator and that “most benefits remain frozen” despite its pleas.

For IF, who worked part-time for a center of activities, the employment agency went back and forth on her request.

After first receiving approval for $160 a week in April 2020, the agency reviewed IF’s account in January 2021, found her eligible a month later, and then found her retroactively. ineligible for all payments. It wasn’t cleared up until July of this year, when the Unemployment Insurance Appeals Board issued a final decision.

Diana Boudrie was fired in April 2020 from a company that held cooking demonstrations at Costco stores. After receiving benefits for 19 weeks, her eligibility was canceled in November 2020.

Even though the lawsuit says Boudrie later filed a timely protest, the agency still demanded repayment of $9,440 under threat of collection activity.

And after?

Kreps, who got a job in June 2021 as a truck driver, hopes the state will eventually pay him the $25,000. The money will go directly to paying off his parents, and he’s also optimistic the lawsuit will spur change at the unemployment agency.

“My biggest hope is that they will look into this and give all these people what they deserve,” he said. “And for the state to realize that something is wrong here.”

The lawsuit seeks class status, an injunction, damages for plaintiffs and the creation of a “common fund” to reimburse people who “prematurely” repaid their benefits.

If granted, a court order would require the UIA of Michigan to promptly pay benefits, stop freezing benefits without due process, establish a procedure for recovering overpayments, and remove all termination flags. of payment until the appeals can be considered.

Related: Who benefits from the cessation of unemployment levies? The Michigan agency asks the judge

Blanchard says the lawsuit also brings to light longstanding issues at Michigan’s unemployment agency.

“It’s absolutely no secret that the system is broken,” he said. “The computer system and the data management system never worked. It has only crumbled in recent years. The agency never had the resources it needed throughout this pandemic.

Among other reforms, Dale recently began replacing the agency’s “decade-old computer system,” according to a statement from Michigan’s UIA.

After being inundated with claims at the start of the COVID-19 pandemic, the unemployment agency has paid nearly $40 billion to 3.48 million people since March 2020. their account99.8% of eligible claimants were paid at least once, which means around 7,000 were not.

Rolling out pandemic unemployment benefits to so many people, however, has been fraught with pitfalls, including sudden changes in agency leadership to billions of frauds and a mistake that led to nearly 700,000 people are declared retroactively ineligible for aid.

Since the first lawsuit was filed in January, Blanchard’s law firm has heard from 6,500 job seekers.

“The response has been overwhelming. People need help and can’t get it,” he said. our legal system when so many people can be affected by a breach.”

Learn more about MLive:

Michigan clears another $53 million in pandemic unemployment overpayments

Workers falsely accused of unemployment fraud can sue state, Michigan Supreme Court rules

Michigan can waive more unemployment bills under new federal guidelines

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Payday Loan Scams Consumers Should Be Aware Of: Fake Loans, Stolen Information, Fraud https://cellphoneblockerjammer.com/payday-loan-scams-consumers-should-be-aware-of-fake-loans-stolen-information-fraud/ Sun, 04 Sep 2022 20:49:06 +0000 https://cellphoneblockerjammer.com/payday-loan-scams-consumers-should-be-aware-of-fake-loans-stolen-information-fraud/ Payday loans in the US are a hugely predatory industry, and now the landscape is getting worse as scammers pose as popular lenders try to scam people. A new report from the Better Business Bureau on these scammers highlighted the story of Shirleywho “received a call from a woman who said her name was”Lawrence Green.Lauren […]]]>

Payday loans in the US are a hugely predatory industry, and now the landscape is getting worse as scammers pose as popular lenders try to scam people.

A new report from the Better Business Bureau on these scammers highlighted the story of Shirleywho “received a call from a woman who said her name was”Lawrence Green.Lauren told Shirley that she “qualified for a $5,000 loan from the West Point lenders” but that shehad to do was pay $535 as a feebefore the money is deposited into their account. Then Green again said that “another $535 was needed because his credit wasn’t good enough.” However, once Shirley handed over the $1,070, Lauren disappeared with Shirley’s money, and when she went to search, she discovered that the company was fake and that her information had been stolen.

To be fowarding something…

Many scammers use names close to major payday lenders to work on the notoriety of some of these companies. The BBB has warned that fraudsters posing as debt collectors can also use the same tactics to “make their threats more serious”.

How many payday lender scams have been reported this year?

While the total number of scam attempts reported to the BBB has gone down, the amount that has been taken from those defrauded has increased over the years:

  • 2019 – Reports: 1,151 | Losses: $856
  • 2020 – Reports: 741 | Losses: $900
  • 2021 – Reports: 760 | Losses: $765
  • 2022 – Reports: 403 | Losses: $1,000.

These figures should be taken with caution since the BBB estimates that only about ten percent of fraud cases of this nature are reported to the organization – meaning that the extent of the problem is much bigger than these numbers represent.

The feds should take notice of people’s willingness to engage in the scam, as many have reported falling for the trap because “they were already in debt due to payday loans.” After being scammed, some victims also reported: “months behind on rents and other bills, due to the financial consequences of these scams.”

A general warning for those interested in a payday loan

Payday lenders are one of the least regulated aspects of financial services. The BBB reported that their scam trackers show “that despite efforts across the country to limit the power of payday loan companies, many Americans are still trappedin debt cycles after taking out any of these loans. These agencies use complicated formulas to hide high interest rates applied to loans of up to more than four hundred percent. BBB researchers shared the story of Wanda, a senior in Georgia who took out a $1,000 payday loan to build her credit.

Buried behind all the fees and paperwork, his real interest rate was almost 450%. She quickly regretted the decisionreads the report, noting that these companies often take advantage of older people. “They bill you every two weeks, and that’s about $400.00 to $600.00 per month to repay such a small amountt,” Wanda said, addressing the report’s authors.

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