MoB007 Loyalty Card: Part I

Morris Mpala, MoB Capital Ltd
AS we Explore, Dream, Discover Financial Freedom, MoB Capital becomes the first microfinance institution in the world to offer a practical loyalty programme.

Never in the history of lending has a lending institution offered a revolutionary and a financial freedom card. And a first financial institution in Zimbabwe to offer such a comprehensive loyalty product. It’s not just a card it’s loyalty for loyalty like never before in the lending sector.

MoB007 Card
It’s both a debit card and a loyalty card.

MoB007 Card opens all doors just like Bond, James Bond. It’s your gateway to financial freedom in Zimbabwe. It opens all doors of opportunities as inspired by the story of the British double agent, 007. At MoB Capital we have nicknamed the MoB007 card “The Black Card” due to the fact that it’s black in colour and black has mystery and solidness to it. Black is our soul and resembles a survival mode, is universal in appeal and easy to comprehend. Above all black is easy on the eye.

Where in the world do you find a company that lends you money and gives you benefits? Even the companies that you give your savings to don’t offer you such benefits. Just produce it and you are ready to go and discover a whole new world. With this card your life becomes easier, simpler and richer due to various savings you make when you EXPLORE. It’s a first to your DREAM savings culture. Once you DISCOVER your savings please put the money to good use to aide your FINANCIAL FREEDOM.

Disbursements and Payment system
The Black card will be used as payment system. All our payments will be done through this card to all our creditors and debtors. All our loans will be preloaded to the Black Card. Strictly no cash disbursements as we strive to be paperless and protect our environment.

Benefits of MoB007 Card

Can We Talk?

A new study finds that family members tend to discuss different financial topics with different relatives.

According to researchby Ameriprise Financial, adult children are most likely to initiate conversations with their parents about:

  • managing current finances (74%);
  • the cost of health care (73%); and
  • long-term financial goals (70%).

When parents take the lead in financial discussions with their adult children, they also bring up managing debt (73%).

Estate of Mind?

In general, survey respondents report they are less likely to talk to their family members about estate planning and inheritance, but it’s still a popular topic: 67% talked to their parents about it, and 69% talked to their adult children about it.

The No. 1 reason why adult children haven’t talked with their parents about the topic: They “don’t believe it’s their place to raise the issue.” Parents, meanwhile, don’t bring up the subject because “they haven’t thought about it” (25%) or “don’t feel it’s appropriate” (19%).

Additionally, 9 out of 10 adult children who have discussed estate planning say a “life altering incident” triggered the talk with their parents. The study suggests that advisors can help initiate these conversations ahead of those emergencies.

Leave Behinds

Most survey participants (83%) want to leave money or assets to a loved one; however, only 64% feel they are on track or prepared to leave an inheritance, and even fewer (50%) have a formal plan in place. Only 21% of parents who are planning to leave something to their children have told them how much inheritance they will receive.

Little surprise then that the majority of respondents (53%) expected to receive more than $100,000. In fact, the majority (52%) of those who have received an inheritance got less than $100,000, an amount that only matched the expectations of 28% of those surveyed. Nearly a quarter (24%) of respondents think an inheritance will cause tension or disagreements with family members — a sentiment that rings true for a quarter of individuals who have received money following the loss of a loved one.

The Family Wealth Checkup study was created by Ameriprise Financial, Inc. and conducted online by Artemis Strategy Group Nov. 23-Dec. 15, 2016 among 2,700 US adults between the ages of 25-70 with at least $25,000 in investable assets.

Preparing for personal bankruptcy | Biz Brain

Q. I had a failed company and I have three judgments against me personally. Could I get rid of them if I file for bankruptcy?
— Planning

A. It depends.

Assuming that you are otherwise eligible to receive a discharge in a bankruptcy case, a personal guaranty of business debt is, generally speaking, dischargeable, said Ilissa Churgin Hook, a bankruptcy attorney and member of Hook amp; Fatovich in Wayne.

She said most individuals seek relief either under Chapter 7 or Chapter 13 of the United States Bankruptcy Code.

Heres how it works.

Generally, in a Chapter 7 case, a debtor seeks a discharge from his or her debts in exchange for exposing his or her assets to an examination by a third party trustee, who acts as a fiduciary for creditors, Hook said.

Hook said one of the trustees obligations is to look for assets that have equity — after taking into account the costs of sale, any liens against the asset, and any relevant bankruptcy exemptions — and can be liquidated to pay creditors.

Chapter 13 is different. This filing is an option available to an individual or a married couple with regular income seeking to reorganize debts and retain assets, Hook said. A Chapter 13 case normally lasts three to five years and involves a payment plan that allows a debtor to repay debts over time.

So your first question is whether you are eligible for a bankruptcy discharge, and which chapter of the bankruptcy code you should use.

For example, Hook said, you may desire to wipe out your debts in a Chapter 7, but if you own an asset that has equity, such as a house, the filing of a Chapter 13 case in which you pay back part or all of your debts — including the judgment debts — in exchange for retaining your interest in your home may be more appropriate for you.

Hook said you may also fail to qualify as a Chapter 7 debtor if your household income is over a certain limit. This varies depending on the county in which you reside.

Further, she said, if there was any fraud involved in obtaining the underlying debt owed to the judgment creditors — for example, if you or your company submitted false financial information in order to obtain a loan — the creditor may object to your attempt to discharge that debt.

And, you may be barred from filing a bankruptcy petition for a certain period of time if you had a prior bankruptcy case, Hook said.

She said assuming that you qualify for a Chapter 7 discharge, you should be able to discharge, or wipe out, your personal liability on the judgment debt.

If the judgment creditor has filed a lien against your home, that lien can be avoided in your bankruptcy case if you file a bankruptcy petition within 90 days of the attachment of the lien, she said.

If however, the judgment lien is already more than 90 days old, a discharge in bankruptcy will relieve you of any personal liability to pay the judgment — meaning that the creditor cannot attempt to collect from you, seize a bank account, or garnish your paycheck — but the lien will survive the bankruptcy and remain a lien against your home even after your bankruptcy case is closed, she said.

You could file a motion in the state court one year after your discharge and request that the lien be removed as of record.

Sounds like its time for you to sit down with an attorney who specializes in bankruptcies to see if any of the options are right for you.

Email your questions to Ask@NJMoneyHelp.com.

Karin Price Mueller writes the Bamboozled column for NJ Advance Media and is the founder of NJMoneyHelp.com. Follow NJMoneyHelp on Twitter @NJMoneyHelp. Find NJMoneyHelp on Facebook. Sign up for NJMoneyHelp.coms weekly e-newsletter.