The Cincinnati Enquirer from ,  on November 24, 1980 · Page 42
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The Cincinnati Enquirer from , · Page 42

Issue Date:
Monday, November 24, 1980
Page 42
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E-2 PEOPLE TODAY THE CJNaNNATl ENQUIRERMonday, November 24, 1980 Federal Law Softens The Stigma Of Bankruptcy HI least part of your debts on a month 1980, MONEY MAGAZINE can't declare bankruptcy again for How does going bankrupt affect six years. There's no such limitation your credit? The reporting services with Chapter XIII, as long as the pull your file and stamp it "declared debtor has paid back at least 70 of bankrupt." By law the stamp stays what the court has said he owes. there for 10 years. COAT SALE AT PANACHE 25 OFF OUR ENTIRE STOCK OF COATS AT WONDERFUL SAVINGS DOWNS WOOLS CORDUROY VELVETS ly basis. The entire repayment, which you apportion among your creditors with court approval, can be as little as 1 of the money owed, though courts usually demand a minimum of 10. Your debt Is wiped out without surrendering any assets-when the agreed-on percentage has been paid, ususally after three years. Those who need time to pay off their debt for Instance, someone with a $50,000 income who's asked by a creditor to pay off a $10,000 loan Immediately often go Into Chapter XIII because even partial repayment helps save their credit THOSE WHO are overwhelmed by obligations unsecured by collateral (bills owed to stores, for example) are more apt to choose Chapter VII. It costs $60 to file for either Chapter VII or XIII, and you don't need a lawyer. The forms, available from legal stationers, consist of a schedule of assets and earnings plus a statement of your debts. However, It's best to have a lawyer If substantial assets are Involved. Lawyers charge $250 to $3,500 depending on what services they render, and customarily demand payment up front. In fact, creditors complain lawyers tend to put people in bankruptcy who don't belong there, simply to collect the fee. As soon as the bankruptcy petition is filed under either chapter, creditors are no longer allowed to harrass a debtor. They can question him at a meeting within a month of filing, but only secured creditors those with collateral usually attend. Creditors then have six months to file a claim against a debtor's property. Chapter VII debtors are declared legally bankrupt 30 to 45 days after meeting with creditors; under Chapter XIII, the official discharge doesn't occur until the or has paid everything he agreed to. Those who file under Chapter VII There are no longer bankrupts, only debtors. So, at least, says the federal bankruptcy law that went into effect In October, 1979, which arbitrarily changed the name In hopes of softening the stigma. More Important, the law lessens the hardship: Bankrupts In most states get to keep more assets than ever before. Here's how it works: People who go bankrupt can do It In one of two ways Chapter VII or Chapter XIII. Chapter VII allows you to wipe out all debts except taxes, alimony and child support, parking tickets and most students loans. After you file, the state collects your assets, sells them and divides the proceeds among your creditors. BUT BEFORE It does, you can claim any or all of a generous set of exemptions. Among them: $7,500 for equity In a house, $1,200 for a car, $750 for tools of your trade, $500 for jewelery, and $200 for each Item of furniture and clothing you own. If both husband and wife file, all these amounts are doubled. Bankrupts also can exempt some types of income, including alimony and disability payments, Social Security and veterans benefits. Each state has Its own set of exemptions too, and if they're greater than the federal ones, a bankrupt can take them instead. But the new law allows states to deny residents the option of taking the federal exemptions. So far, a dozen states have done so: Arizona, Florida, Georgia, Indiana, Kansas, Louisiana, Ohio, Oklahoma, South Dakota, Tennessee, Virginia and Wyoming. Debtors with a steady Income can file under Chapter XIII, which Is a repayment plan, In contrast to Chapter VTI's emphasis on liquidation. You submit to the court a budget.hat allows you to repay at dear aDDy Sons9 Incessant Ro ugh -Ho using Drives Her Nuts BY ABIGAIL VAN BUREN DEAR ABBY: We have two beautiful, healthy, normal sons, for whom we thank God dally. They are 5 and 7. Our problem Is one that many other parents have how to deal with the constant fighting. Abby, the yelling and beating on each other are driving me crazy! I know there's a lot of Jealousy and rivalry at the bottom of it, but I don't know how to handle it. I asked my pediatrician what to do, and he said, "Don't worry about it. It's natural." Well, I do worry about It. I'm afraid that eventually one might seriously Injure his brother. It's not fair to keep asking my husband to discipline the boys the minute he gets home after a hard day's work, but that's all I can do. I'm fairly intelligent, but I feel so helpless. Is there some "how to" book you can recommend for dealing with this problem? - FRUSTRATED IN COLORADO DEAR FRUSTRATED: Yes. Dr. John F. McDermott Jr., a psychiatrist, has written an excellent book in language that everyone can understand. It's titled, Raising Cain (and Abel, Too); The Parent's Book of Sibling Rivalry (Wy den Press). In It, the author tells parents how to get their children to talk freely about their feelings of Jealousy, anger and hostility without beating on each other. The December issue of Parents magazine contains a generous sampling of excerpts from this fine book. I recommend It highly. DEAR ABBY: Regarding letters from "the other woman": So far you have printed only letters from women who were dumped. How about a letter from a "winner"? My married lover left his wife for me! I was told that I wasn't breaking up anything; his marriage was dead long before he even met me. His wife had grown fat I was married, too, but I assured him that my marriage was also over my husband had become dull and boring. So I divorced my boring husband and he divorced his chubby wife. Oh, yes, we both had children, but we explained that we were In love and when they were older they would understand. Our marriage was a dream come true. No more lying and sneaking around. At long last we were legally man and wife, for all the world to see. Our apartment was filled with modern furniture and old-fashioned guilt. And plenty of doubt and mistrust. Two years later he was meeting someone new. I told him he was a liar and a cheat. He said It took one to know one. And by the way, he's gotten a little dull and boring, and I've put on a little weight. -A WINNER Kenwood Plaza 791-5552 Monday thru Saturday 10-6, Thursday 10-8 Master Card, Visa and American Express DMMA Can Scratch Name From Any Mail-Order List Set a floral tradition for your Thanksgiving table. 14.95 includes delivery Our floral arrangement of fall chrysanthemums, ' exotic pods and natural cattails, bathed in the glow of two candles, belongs front and center on your Thanksgiving table. We'll deliver anywhere within metropolitan Cincinnati, And Northern Kentucky. Call 352-5566. action line Two Months Without Washer Really A Load KNIGHT NEWS SERVICE Mall-order houses may be bombarding you with their holiday catalogs right now, a reminder that If you want your name removed from their mailing list, you should write to the Direct Mail Mar-keting Association (DMMA), the organization that keeps track of the mall-order industry. The DMMA's address is 6 E. 43rd St., New York, N.Y., 10017. It's also the place to write to have your name added to a company's mailing list. on my washing machine and it now works like new." She was told the shaft was the sixth received of nine ordered by the service group, causing her wait. She had but one regret when she wrote ACTION LINE, "Wish now I had purchased a new machine." Long Cookie Search QUESTION: "Twenty years ago, my favorite Archway Date-Treat cookies disappeared from grocery shelves. Frantically knocking cookies all over, I have searched stores throughout the U.S. But happily, this summer I found my long-lost cookie under a new name, State Fair Winning Recipe-Banana Date. I wrote Archway, explaining I couldn't go through another painful withdrawal, and begged them not to discontinue my cookie again, but they dropped It." Elizabeth Lemlich, Bellevue, Ky. ANSWER: Thomas F. Olln, Archway vice president-general manager, Ashland, Ohio, Informed ACTION LINE that its Date Treat cookies fell victim to modern technology when 150-foot ovens were Installed, making It impossible to flip the cookies over for a dip Into pecan nuts. Olln reported Banana Date cookies are now baked by Ellison Bakery, Fort Wayne, Ind., for regional sale. Mrs. Lemlich rediscovered the cookies recently in the stores. Olln Invited the Lemlich family to tour Archway's Ashland plant. Seiko Quartz Clocks Famed for accuracy BY STEVE HOFFMAN Action Line Columnist Mrs. Harold Evans, Cleves, was more concerned with the wait than the expense of getting her Whlte-West-inghouse washing machine fixed. . She wrote ACTION LINE after waiting two months for service. When It was finally repaired recently for $128.40, she was thankful she had the use of the machine and the long absence without it had ended. Her tribulations began In late August when a White-Westinghouse repairman looked at Mrs. Evans' machine and said It would need a bearing. She was told it would be fixed In seven to 10 days for $31.33, including labor. Two weeks later, she called the service people and was told the machine would also require bearings and a cylinder shaft, estimated to cost her a total of $125. She promptly agreed to the repairs. Repeated phone calls by Mrs. Evans only brought explanations that the parts were on back order. Meanwhile, she had to take her dirty clothes to Cleves and Western Hills self-service laundries for seven weeks. "When you have three or four loads of wash at 50 or 75 cents each, plus the driving back and forth, It starts to add up," Mrs. Evans said. J.E. Keyes, White-Westinghouse branch manager, told ACTION LINE& shaft needed for the repairs did not arrive until recently. "We ran two men out to Mrs. Evans' house the same day and completed the Job," he said. Mrs. Evans confirmed the repairs were made as Keyes Indicated. "Oh happy day!" she exclaimed. "They worked for about four hours Problems? Seiko Chimes In. The great charm of this best-selling Westminster-Whittington clock is its quarter hour chimes and hourly strike by day with volume control, plus sweet silencer that lets you sleep by night. Gold-toned w-polished brass handle, $250, silver-toned wpolished brass handle $225 ACTION LINE solves problems, gets answers, cuts red tape, stands up for your rights. Write ACTION LINE, 617 Vine St., Cincinnati 45201. Include your name, address, phone number and copies of all bills and checks with your complaint. Your letter may be published. Seiko Set-A-Date. This snappy little Seiko day and date clock wgilt dial and black Arabic numerals fits niftlly into any room in the house ... $50 Seiko Classic. Clearly a most prestigious clock in elegant lucite flanked with gleaming Greek columns . . .$150 For special times, special places, special people . . . your Eieaitti Hepatitis B Vaccine Still A Year Away BY DR. G. TIMOTHY JOHNSON QUESTION: Will you please explain Just what hepatitis is and whether I should get the new vaccine for it that I've read about? - Charles W. ANSWER: Hepatitis is Inflammation of the liver. It's a general term for any type of inflammation of the liver, whatever the cause. Today, however, hepatitis usually refers to inflammation of the liver caused by a viral infection so-called viral hepatitis. There are many possible causes of liver Inflammation, including heavy drinking. Unlike cirrhosis of the liver, which Involves irreversible liver damage, most hepatitis cases don't lead to permanent liver damage or death. But hepatitis can lead to serious disability, leaving the victim feeling tired and listless for months. In a sma number of cases It can 4' cause permanent damage. In addition, it seems probable that hepatitis increases the risk of later developing liver cancer. In the old days, viral hepatitis Infections were thought to be rather simple, but In recent years the whole subject has become quite complicated. For example, we now identify the various viruses that cause hepatitis as type A, type B, etc. The most serious among them, in terms of causing human illness, Is the hepatitis B. This organism Is widespread In the world's population, and causes very serious forms of the disease In about 5 of cases. For years, laboratories around the world have been trying to develop a vaccine against hepatitis B. Just recently the results of an excellent study, which used the new vaccine in humans, were announced. The study indicates that we now have a vaccine that is both effective and safe. Unfortunately, the experts say it will probably take at least another year before this vaccine will be available for public use. Still, given the wide distribution of hepatitis B, and the many population groups susceptible to It, I wouldn't be surprised if we see a lot of pressure to make the vaccine available sooner. - Tiltillating Seiko. Tilts up, tilts down, tilts into multi-positions for easy visibility. It's fashionable, it's functional. Select a gilt model in stock or silver-toned by special order . . .$70 Seiko Lucite Stand-Up. A clear-cut classic of lucite and brass, gilt dial with Arabic numerals . . .$65 7866 Montgomery Rd. 891-5531 401 Race St. 621-1536

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