I love credit cards so much! v3.0 (see first page for add'l details)

[Alexle2007]

I am going to need girl time, a massage and a good coloring when this is over! It is rough when your son has online school and homework and his besties are off school. For now, I am just going to enjoy a cocktail!

 

[SouthFayetteFan]

So its been 6 days and no approval for DD's CIP. It still says 30 days. Has it taken this long for anyone else and still get approval? If she gets approval, it will be her first Chase card.......... I don't know if I should remain positive or start working on Plan B

I’ve waited that long! Lol.

Yep, dh will now be home with us for 2 weeks (cramping my daily work routine LOL, and the dogs routine). Will see when he gets home tonight if he is going to get paid or what, he said something about trying to field calls from here.

Does anyone know if the stimulus pkg will go off 19 returns if they are filed?

I have some thoughts there. I’ll post in a moment.

 

[Alexle2007]

@Alexle2007 Maryland Public Schools to remain closed through April 24th.

Adding this which I copied out of an email from Life Insurance of the Southwest:

Thought maybe any teachers homesick for their students might enjoy the art..

​ ​ ​

​ ValuTeachers loves our Teachers! Thank you to every teacher and school employee who is going above and beyond to keep our students learning in the midst of a global crisis

Yep, they moved DS’s online school to match it. I really think they will be completing the year online.

 

[Alexle2007]

I need a haircut. I channel surfed and caught a stylist on TMZ who was explaining how to cut one's bangs. One of my employee's whose side job was a stylist (or maybe it was his main job lol) showed me that ages ago, and I've done it and ended up with bangs that were angled off to one side. I actually wear it brushed to the sides but it starts with the equivalent of bangs. I wonder how many of us will resort to chopping at our own hair before this is all said and done?

Ha, luckily no bangs (they look horrible on me with my short forehead). And I will never color my own hair. Luckily, I just got it two days before we left for Disney.

 

[SouthFayetteFan]

I have spent the last 2 hours reading the preliminary version of the CARES Act (The Senate stimulus bill)

If you have any questions, I'm happy to provide insight. Based on questions asked so far here's what I can see so far:

• The direct payments will be made based on 2019 AGI if filed, 2018 AGI if not.
• The chart shared earlier appears to be correct, the "complete phase out" will vary greatly depending on how many qualifying children you have.
• It will be $1,200 per adult, and $500 per child. You would then calculate your total amount and IF your AGI exceeds the limitations ($75,000-single; $112,500-Head of House; $150,000-Married Joint) then you will be phased out by 5% of every dollar over this limits. (So again the chart would show where your phaseout might be...or you can do math to figure it out yourself)

There is a tremendous amount of assistance on the way for small businesses. This was truly my reason for reading the bill and if anybody here owns a small business, has a current SBA loan, has any business debt, and especially if you have employees - you will want to watch this closely! There is some great assistance coming here for small businesses! Some high level highlights:

• The SBA will make your next 6 payments on qualifying existing SBA loans (not conventional loans)
• A new SBA lending program will go through local banks
• These loans will be forgive-able if used for things like payroll, mortgage pmts, rent, utilities IF you keep your people employed
• They will be equaly to 2.5x your average monthly payroll over the prior year (or a more relavant calculation if you are a more seasonal business).
• There are a number of other relaxed provisions in here that will expedite these loans and protect the owners from having to pledge guaranties and collateral AND provide the banks a guaranty. (I could type paragraphs on this as a banker but I'll leave it at that since most of you probably don't care, lol)

 

[Alexle2007]

I have spent the last 2 hours reading the preliminary version of the CARES Act (The Senate stimulus bill)

If you have any questions, I'm happy to provide insight. Based on questions asked so far here's what I can see so far:

• The direct payments will be made based on 2019 AGI if filed, 2018 AGI if not.
• The chart shared earlier appears to be correct, the "complete phase out" will vary greatly depending on how many qualifying children you have.
• It will be $1,200 per adult, and $500 per child. You would then calculate your total amount and IF your AGI exceeds the limitations ($75,000-single; $112,500-Head of House; $150,000-Married Joint) then you will be phased out by 5% of every dollar over this limits. (So again the chart would show where your phaseout might be...or you can do math to figure it out yourself)

There is a tremendous amount of assistance on the way for small businesses. This was truly my reason for reading the bill and if anybody here owns a small business, has a current SBA loan, has any business debt, and especially if you have employees - you will want to watch this closely! There is some great assistance coming here for small businesses! Some high level highlights:

• The SBA will make your next 6 payments on qualifying existing SBA loans (not conventional loans)
• A new SBA lending program will go through local banks
• These loans will be forgive-able if used for things like payroll, mortgage pmts, rent, utilities IF you keep your people employed
• They will be equaly to 2.5x your average monthly payroll over the prior year (or a more relavant calculation if you are a more seasonal business).

Did they include my telework needs in it so I, at least, have something to look forward to?

 

[afan]

I have spent the last 2 hours reading the preliminary version of the CARES Act (The Senate stimulus bill)

If you have any questions, I'm happy to provide insight. Based on questions asked so far here's what I can see so far:

• The direct payments will be made based on 2019 AGI if available, 2018 AGI if not.
• The chart shared earlier appears to be correct, the "complete phase out" will vary greatly depending on how many qualifying children you have.
• It will be $1,200 per adult, and $500 per child. You would then calculate your total amount and IF your AGI exceeds the limitations ($75,000-single; $112,500-Head of House; $150,000-Married Joint) then you will be phased out by 5% of every dollar over this limits. (So again the chart would show where your phaseout might be...or you can do math to figure it out yourself)

There is a tremendous amount of assistance on the way for small businesses. This was truly my reason for reading the bill and if anybody here owns a small business, has a current SBA loan, has any business debt, and especially if you have employees - you will want to watch this closely! There is some great assistance coming here for small businesses!

The only question I've had so far is with fed backed loans. I'm guessing that's like va and 1st time home buyer etc and not reg mortgages through a bank right?

 

[SouthFayetteFan]

This should help. View attachment 483380

That's great! This chart represents my understanding of how the bill is worded. There is misinformation circulating that the stimulus amount phases out at $198,000 for Married Filing Jointly but that is purely a "lazy" calculation based on somebody with no children. EACH situation will be different depending on how many children you have.

It makes no differentiation in the language of the calculation between the spouses and the children.

EDIT: posting it again since it doesn't show up in the quote... thanks @havaneselover

 

[SouthFayetteFan]

The only question I've had so far is with fed backed loans. I'm guessing that's like va and 1st time home buyer etc and not reg mortgages through a bank right?

I honestly didn't pay any attention to personal mortgages - that doesn't touch my area. Sorry, lol!

 

[havaneselover]

I have spent the last 2 hours reading the preliminary version of the CARES Act (The Senate stimulus bill)

If you have any questions, I'm happy to provide insight. Based on questions asked so far here's what I can see so far:

• The direct payments will be made based on 2019 AGI if filed, 2018 AGI if not.
• The chart shared earlier appears to be correct, the "complete phase out" will vary greatly depending on how many qualifying children you have.
• It will be $1,200 per adult, and $500 per child. You would then calculate your total amount and IF your AGI exceeds the limitations ($75,000-single; $112,500-Head of House; $150,000-Married Joint) then you will be phased out by 5% of every dollar over this limits. (So again the chart would show where your phaseout might be...or you can do math to figure it out yourself)

There is a tremendous amount of assistance on the way for small businesses. This was truly my reason for reading the bill and if anybody here owns a small business, has a current SBA loan, has any business debt, and especially if you have employees - you will want to watch this closely! There is some great assistance coming here for small businesses! Some high level highlights:

• The SBA will make your next 6 payments on qualifying existing SBA loans (not conventional loans)
• A new SBA lending program will go through local banks
• These loans will be forgive-able if used for things like payroll, mortgage pmts, rent, utilities IF you keep your people employed
• They will be equaly to 2.5x your average monthly payroll over the prior year (or a more relavant calculation if you are a more seasonal business).
• There are a number of other relaxed provisions in here that will expedite these loans and protect the owners from having to pledge guaranties and collateral AND provide the banks a guaranty. (I could type paragraphs on this as a banker but I'll leave it at that since most of you probably don't care, lol)

Thank you for your thoughtful summary!

 

[SouthFayetteFan]

Did they include my telework needs in it so I, at least, have something to look forward to?

I'm not sure it was intended to require telework, lol. It supports small businesses who have costs associated with equipping the workforce to telework.

 

[SouthFayetteFan]

Thank you for your thoughtful summary!

Oh and I should also add that it seems unlikely they would revise any of the language in these sections over their current tiff. They are now arguing over a cap on unemployment and an oversight in the calculation but I don't know why that argument would cause them to go back into any of these sections I detailed.

 

[apollodi]

Bad news: DD3 fell out of her (very low) bed for the first time ever last night at 2:30 am and was up until 6. She was fine, but I'm currently waking up at 5:30 or 6 am to work, then working until 10 pm or later after the kids go to bed, so losing the sleep was tough.

Good news: since I was up, I found out a few hours early that my CIU was approved. I had applied on Friday, approval came through last night.

I'm really behind on this thread, but thanks to everyone who is still posting. It's nice to be able to take a few minutes to read it every now and then!

 

[CaliforniaGirl09]

Plenty of tortillas on LI too...

sigh—jealous!

This should help. View attachment 483380

Interesting and hope they get it settled quickly to get to the people who need to pay bills!

 

[SouthFayetteFan]

Feeling a little down today.... then watch this
(I'm not feeling down - having another great day actually...just trying to pass along the happiness!)

 

[Artygal90]

Feeling a little down today.... then watch this
(I'm not feeling down - having another great day actually...just trying to pass along the happiness!)

That was great. DH loves barbershop and used to compete with a group here in town. He will really appreciate this!

 

[ctinct]

Does anyone have any experience with forbearance on federal student loans? I see where right now you can request a two month forbearance. I did a little googling ( dangerous, I know, but I only read respected websites) , and it seems like it is reported to the credit bureaus, but has little to no impact. To keep this credit card related, will it make it harder to be approved for new cards? I probably won’t be applying for anything for several months, at least until this Covid-19 thing is over. Working on the $5000 MSR for the extra points on SW personal right now, anyhow, and I am a low expense kind of gal.

Note: I don’t actually “need” the forbearance, but I work in a school and have no idea if we will be back this year, so I just want to hoard cash for a while. From what we are hearing, we will be allowed to use our sick time to continue our pay, and I have enough banked to cover almost an entire school year.

 

[ten6mom]

Feeling a little down today.... then watch this
(I'm not feeling down - having another great day actually...just trying to pass along the happiness!)

Since my husband is sitting here WFH right behind me, I was able to share that with him and we enjoyed it together. Thank you!

 

[CyndiLouWho]

Tonight I feel hopeful... I don't know why. I can't explain it. It might not be founded in any science or fact. BUT I feel hopeful! And I'm going to take that! This is going to get better - maybe in 2 weeks, maybe in 6 weeks, maybe in 3 months... but we're going to come out of this on the other side!!

Yesterday was a very hard day... my parents had to put our dog to sleep. Over 15 years she was with us - I still lived at home when she joined the family. She was with us through a lot and it's always hard to say goodbye. And so it was a hard day.

BUT today was good. I hope your today was good, and if it wasn't, I hope that your tomorrow is better!!

I’m so sorry for for your loss. Pets give us such unconditional love. We lost our 17 yo pup in January and it was tough, she with us before DS came along. Hope you can relish all the good memories with your pup.

 

[disfanforlife]

@SouthFayetteFan I am sorry too about the loss of your family pet. We lost one of our cats this summer and I still miss him,.