William Penn Life, 1996 (31. évfolyam, 1-12. szám)

1996-01-01 / 1. szám

Page2, William PennLife, January 1996 William Penn LIFE Official Publication of the William Penn Association Published Monthly Office of Publication: 709 Brighton Road Pittsburgh, PA 15233 Phone: 412/231-2979 Third Class U.S. Postage Paid Pittsburgh, PA Permit No. 2724 Frances A. Furedy Editor-in-chief George S. Charles, Jr. Associate Editor John E. Lovász Managing Editor NATIONAL OFFICERS Frances A. Furedy Acting National President National V.P./Treasurer George S. Charles, Jr. National V.P./Secretary BOARD OF DIRECTORS Michael J. Hrabar Chairman Roger G. Nagy Vice Chairman Elmer A. Furedy Vice Chairman Anthony C. Beke Louis A. Fodor Barbara A. House Michael R. Kara Andrew W. McNelis George F. Mirkovich Michael F. Tomcsak Elmer W. Toth Frank J. Wukovits, Jr. Frank J. Radvany Secretary of the Board AUDITING COMMITTEE Charles J. Furedy Robert A. Ivancso Co-Chairmen Margaret H. Boso Secretary Dennis A. Chobody Joseph Hamari Ernest J. Mozer, Sr. CONSULTANTS Bruce Si Bruce Company Actuary Horovitz, Rudoy & Roteman C.P.A. Rothman Gordon Foreman &. Groudine, P.C. General Counsel Dr. Julius Kesseru Medical Director Unsolicited articles, letters, manuscripts, pictures and other material submitted to the WILLIAM PENN LIFE are forwarded at the owner's risk, and the WILLIAM PENN LIFE expressly denies any responsibility for their safekeeping or return. The WILLIAM PENN LIFE reserves the right to edit, revise or reject any article submitted for publication. Postmaster: If undelivered, please send form 3579 to: William Penn Association 709 Brighton Road Pittsburgh, PA 15233 Tours— to Debrecen for dinner and a relaxing evening. Day Nine you will visit Debre­cen University and the famous Deri Museum, then travel to Tokaj for lunch and a wine tasting at one of the area’s fine vineyards. After dinner, you will return to Debrecen for the evening. Our trip to the northern region of Hungary begins the next day. You will arrive in the quaint village of Szilvasvarad to see the world-famous stables of the Royal Lipizzaner horses. After lunch, we will travel to Budapest for a free evening. Your first full day in Budapest will include a morning tour to Millenium Monument at Heroes Square, St. Stephen’s Crown at the National Museum and Gellert Hill for a panoramic view of the city. The afternoon is yours to shop or explore. Dinner, with music and dancing, will be fol­lowed by a sightseeing cruise on the Danube. Day 12’s morning tour will include all the famous sights in the Buda Hills, including Mat­thias Church and Fisherman’s Bastion. The rest of the day and night are yours to do as you wish. The next day will feature an all-day tour of the Danube Bend. Visit the old town of Szentendre and its shops, galleries and muse­ums. Enroute see the Roman ruins before arriving in Eszter­---------------From Page 1 gom, the site of the oldest Hun­garian royal court and the see of the Hungarian Roman Catholic Church. Enjoy lunch then visit the Citadel. After returning to Budapest, enjoy the free evening by going to the theater, a concert or wherever you wish. The final full day in Europe is yours to explore Budapest before rejoining your fellow tourists for a gala farewell dinner at one of Budapest’s finest restaurants. After breakfast the next day, its off to Ferihegy Airport for your return flight home. The cost of this exciting tour is $2,949 per person*, based on double occupancy, for the June tour. The September tour costs $2,999. You can reserve single accommodations for the June tour for $3,399, or for the Sep­tember tour for $3,499. The tour price includes round­­trip airfare from New York, all hotel accommodations, breakfast daily, 18 lunches and dinners, ground transportation, the Dan­ube River cruise, and all sightsee­ing tours in the itinerary. The price also includes all air­port and hotel transfers, all lug­gage handling, all service charges and all hotel and air taxes. Guests departing from cities other than New York or Chicago will be charged an add-on fare based on their city of origin. To reserve your seat on one of these tours, complete the reserva­tion form found below and send it, along with your deposit of $400 per person, to: Fugazy Inter­national Travel at the address listed on the form. For more information, call Fugazy Travel toll-free at 1-800- 828-4488. *PLEASE NOTE: All airfares are subject to change without notice. WILLIAM PENN ASSOCIATION HUNGARY TOUR’96 RESERVATION FORM FULL NAME: ADDRESS: CITY: STATE: ZIP: PHONE: (Home) (Work) PLEASE RESERVE MY SPACE ON THE FOLLOWING TOUR: (Please check one only) □ TOUR #1 - JUNE 13 TO JUNE 27, 1996 □ TOUR #2-SEPTEMBER 10 TO SEPTEMBER 24, 1996 ACCOMMODATIONS TOUR #1 TOUR #2 (Please check one only - Prices are per person) (JUNE) (SEPT.) □ DOUBLE OCCUPANCY.................................. $2,949.00 $2,999.00 □ SINGLE OCCUPANCY..................................... $3,399.00 $3,499.00 CITY OF DEPARTURE: SIGNATURE: Send this form along with your deposit of $400.00 per person payable to: “Fugazy International Travel” to: William Penn Hungary Tour, Fugazy International Travel 770 U.S. Highway No. 1, North Brunswick, NJ 08902 ‘Prices are for New York departure. All airfares are subject to change without notice. Land prices guaranteed at time of booking. PLEASE, one person per form. Copies of this form may be made. Post-holiday blues? There is hope! By Emil W. Herman, Esq., General Counsel As you have probably realized by now, the holidays can be a very expensive time of the year. If those expenses have been "charged,” you may now be suffering from the post-holiday financial blues. If so, there are several things you may want to consider. The first is to examine your income and expenses. For many people, budgeting is a normal occurrence, but for others it is not. If new to you, prepare a list of your expenses and your income. Consider if there are expenses that you may be able to cut or even eliminate to make ends meet, or if there are ways of increasing your income. For some people, however, making such a list, and deciding how to cut expenses or increase income is not easy. Guidance is available through Consumer Credit Counseling, a non-profit agency often affiliated with the United Way. A counselor with Consumer Credit Counseling can help you review your financial situation, establish a budget, correspond with creditors, and find your way to sounder financial ground. With or without the assistance of Consumer Credit Counseling, however, belt-tightening may not be enough. If you are a homeowner with equity in your home (you have equity if your home is worth more than you owe on it), you may be able to borrow against that equity and use the money obtained to pay off all or some of your debts. This type of bill consolidation has a financial benefit—interest paid on a home equity loan is often a deductible expense on your income tax, while consumer credit interest is not. Additionally, the interest rate on home equity loans is often less than that available through a credit card. If none of these solutions will solve your financial blues, and if you are behind on monthly expenses and/or receiving letters and calls from bill creditors, a more drastic solution is available in the form of bankruptcy. There are various forms of bankruptcies, identified by the chapter number in the Bankruptcy Code in which they are found. A normal consumer bankruptcy or liquidation is a Chapter 7 bankruptcy. In a Chapter 7 bankruptcy, the ideal would be to have all of your debts discharged (written off), while you retain all of your property. The ideal, however, is not always available. Some debts are not dischargeable, such as certain taxes, child support payments, and education loans. As for keeping your property, it will depend on how it was obtained, the type of property it is, and how much is owed. If obtained through a department store credit card, the department store may have a security interest in the property, and seek to reclaim possession. Some property, however, may be kept. The law allows even a person filing bankruptcy to exclude certain property by claiming an "exemption.” These exemptions, under either federal or state law, allow you to keep certain property. For example, the equity in your home, a portion of your household goods, any equity in your automobile, and support, alimony and disability payments due you, are a few types of exempt property. Any property not claimed as exempt and not reclaimed because of a security interest, is sold, and the proceeds used to pay your debts proportionally. If you are a regular wage earner, a Chapter 7 bankruptcy may not be appropriate. Instead, you may have to file for relief under Chapter 13 of the Bankruptcy Code. Under that Chapter, you and the trustee appointed to manage your affairs would develop a plan to pay creditors over a period of, generally, 36 months, although up to 60 months may be used in some cases. Under a Chapter 13, you may be able to keep property which you cannot otherwise claim as exempt, because of your intent to pay your debts down rather than just have them discharged. This type of bankruptcy may also be beneficial for individuals who face seizure of their property for non-payment of taxes which are not dischargeable under a Chapter 7 bankruptcy. Another form of bankruptcy used often by businesses who need to reorganize their debts while staying in business is one under Chapter 11 of the Bankruptcy Code. It is, however, available to individuals, although you will need to consider its benefits to those offered by the other Chapters already described. These are three of the most commonly used bankruptcies. If you believe you may need to file for bankruptcy to cure your financial blues, consult an attorney to decide which type is the best for you, based on your own situation. Remember though, it is serious surgery, and should only be used if less drastic measures have failed. One of the side effects is that you often have difficulty obtaining credit in the future. That may be a benefit to some, and a detriment to others. If you have any topics you would like us to consider for this column, please send them to: Emil W. Herman, Esq,, Rothman Gordon, Third Floor, Grant Building, Pittsburgh, PA 15219. Topics will be con­sidered based on space considerations, interest to all readers, and appropriateness for general legal discussions.

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