Aspire2BeMore

Are you eligible to be a member of a credit union? perhaps through employment, live in a certain county, enrolled in a certain school, a family member of a credit union member, each credit union has its own membership rules but they can be very diversified. The reason I asked the question is that my credit union offers free checking, free online banking, free direct deposit, debit cards, you can link your checking with your savings so you don't have to worry about overdrafts, offers VISA and Mastercards, CDs, mortgages, car loans. So check to see if there is a credit union you are eligible for and how it is rated at www.bankrate.com. You will find that because credit unions are member-owned, they offer better loan rates, service fees are less and the atmosphere is much nicer. They are insured by the National Credit Union Administration, a U. S. Government Agency - the equivalent of the FDIC for Credit Unions.

For thoses that it affects, this includes emergency management personnel. http://www.nasfaa.org/publications/2007/lnpublic101507.html

Please think real hard. The IRS can't give me an answer--- they shifted me to five different people that had no clue. The Dept. of Education tried to give me an answer but had no clue then they wanted my name and SSN before giving me the answer. For obvious reasons, I don't want to do bring attention to myself.

If your Student Loan was permanently discharged due to permanent disability, is the amount of the debt reduction still considered taxable income? It was discharged in 2007 and I have not yet received a 1099-C. I would really like to know the answer to this question as I am worried about the taxes I might owe.

Might as well get the information from the source to avoid mistakes: Go to http://www.socialsecurity.gov/pubs/10095.html or call Social Security toll-free at 1-800-772-1213. Social Security work incentives at a glance Trial work period — The trial work period allows you to test your ability to work for at least nine months. During your trial work period, you will receive your full Social Security benefits regardless of how much you are earning as long as you report your work activity and you continue to have a disabling impairment. In 2008, a trial work month is any month in which your total earnings are $670 or more, or, if you are self-employed, you earn more than $670 (after expenses) or spend more than 80 hours in your own business. The trial work period continues until you have worked nine months within a 60-month period. Extended period of eligibility — After your trial work period, you have 36 months during which you can work and still receive benefits for any month your earnings are not “substantial.†In 2008, earnings of $940 or more ($1,570 if you are blind) are considered substantial. No new application or disability decision is needed for you to receive a Social Security disability benefit during this period. So basically, they are giving you an opportunity to go back to work and paying you during that nine month trial period if you earn over $670 after expenses or work over 80 hours in your own business during the month. And you can extend that time if you only make $940 (don't know how self-employment applies here.) You also need to tell them you are going to try to go back to work on a trial work period. Otherwise, I agree with the previous poster I have heard that if you are self-employed outside a trial work period, you will lose your benefits. It isn't worth it.

You may qualify for a disability discharge of your student loan. It is worth the trouble, to: Contact the Federal Student Aid Information Center toll free at 1-800-4-FED-AID or TDD 1-800-730-8913. Hours of operation are 8AM to Midnight (Eastern Time), Monday through Friday, and 9AM to 6PM (Eastern Time) on Saturdays. This is the form you need to use to apply: http://www.ed.gov/offices/OSFAP/DCS/forms/disable.pdf "Total and Permanent Disability Discharge Total and permanent disability is the inability to work and earn money because of an injury or illness that is expected to continue indefinitely or to result in death. You must submit a physician’s certification of total and permanent disability. The physician must certify that you are 100 percent disabled according to the definition of disability above. As of July 1, 2002, if you are determined to be totally and permanently disabled, you will have your loan placed in a conditional discharge period for three years from the date you became totally and permanently disabled. During this period, you don't have to pay principal or interest. If you continue to meet the total-and-permanent disability requirements during, and at the end of, the three-year conditional period, your loan will be canceled. If you don't continue to meet the cancellation requirements, you must resume payment. For more information on qualifying for this discharge, contact your loan holder."