4 Simple Ways To Get Out Of Debt

When you’ve got a lot of debt, it could feel like there’s no viable way out. The truth is, the world just started to recover from a devastating financial recession a couple of years ago. So if you’re in this position, you’re not alone. Many hard working consumers were laid off from work. Tons of people, struggling to make ends meet used credit cards and took out loans to cover their expenses while they looked for work that was seemingly impossible to find. But now, more and more people are getting back on solid ground, only to be reminded of their debts every single day. Here are 3 ways that you can fight back, and finally dig your way out of debt!

Option #1: Good Budgeting

I’ve worked with a lot of clients on debt relief. One of the first things I noticed in the industry is that most of the problems can be fixed with better budgeting. Although it may take a little gumption at first to get things all set up, when you get a proper budget together, it will be much easier to manage your money, and finally pay off your debts.

One of the best ways to put a budget together is through the use of a spreadsheet. On your spreadsheet, you want to include all sources of income as well as all of your necessary expenses. Your expenses should include everything from rent to food, gas, daycare, and everything in between. Subtract your total expenses from your total income, now you’ve got your extra funds amount. Allocate as much money as you can to making extra payments on your debts while still holding a little back for monthly entertainment purposes.

Option #2: Sell Your Structured Settlement

If you’ve got a structured settlement, you may be in a very good position for paying your debt off. Although receiving small payments every 2 weeks or every month is enjoyable, you’ve got the option to get paid in one big lump sum.

With one big payment, you may be able to pay off your debts, and put money in savings for the future. Although this isn’t a perfect option for everyone, for some, it’s a great way to not only pay off debts, but to get ahead once again!

Option #3: Sign Up For Credit Card Hardship Programs

Because the worldwide financial recession caused so many people to fall into debt, many lenders started opening up hardship departments within their branches. These are departments designed to help you liquidate your balance as quickly as possible without spreading your budget too thin.

Those who qualify for financial hardship programs are generally given one of two options - either a long term financial hardship plan, or a short term financial hardship plan. In long term programs, interest rates are reduced and consumers are placed on a fixed monthly payment amount. This allows them to pay off their balances quickly without adding too much interest if any at all into the mix.

Final Thoughts

If you’re in a position of overwhelming debt, it’s important to realize that you’re not trapped. You’ve got tons of options! As a matter of fact, the 3 mentioned above are just the tip of the iceberg. All it takes is doing a little research and finding an option that’s right for you!

2 Grandma’s 8 Effective Tips on Saving Money

Many of us would prefer to listen to our grandparents’ advice rather than our parents or our own. It’s probably because of their experience, or it’s because they’re not annoying like other people (sorry mom and dad). Now, if there’s something I’d never forget about my grandma, it’s her tips on how to save money.

                Let me share my grandma’s money wisdom to you.

1)      Use a Piggy Bank

I remember getting a piggy bank for my birthday, and Christmas, and my next birthday. Honestly, I always thought they were useless. However, she said I should just keep them out in the open, and set them near the door so I could slip spare change or extra bills in my pockets. True enough, it became so easy to drop the coins I had on me, and by the end of each year, I managed to save a good amount that proved to be a decent addition to my savings.

2)      Have a Budget

Whenever she randomly gave me money (it’s probably because she loves me so much), grandma would always ask me how I planned to spend it. What did I want to buy? Would I save it instead? If I said I wanted to buy something, she’d remind me not to spend it all in one go. Instead, she suggested I make a budget to make the most out of my money.

3)      Live a Simple Life

As I mentioned above, my grandmother was never the fancy type. Even though she had money, she knew it was enough to have decent clothes and food to eat each day. She didn’t go on luxurious shopping sprees or spent money for costly house decors. By her example, I learned never to waste money on designer clothes and shoes either.

4)      Save for Retirement

Before retiring, my grandmother was an outstanding employee wherever she worked. She was known for her tireless efforts to produce great results. She was never complacent with her tasks. When I asked her why she was working so hard, she told me she was also saving for her retirement. She didn’t want to rely on pensions or money from her children. She wanted to make sure she had her own means of ensuring she lived comfortably, and that would only be possible if she had enough money saved.

5)      Unplug Electrical Appliances When Not in Use

My grandmother always called us out for leaving our appliances plugged in (except the refrigerator) when we weren’t using them. Sometimes, she unplugged my mobile phone while I left it recharging on the table. Though these make her seem pesky at times, it actually helped cut a few dollars off our electricity bill. Another lesson learned there: small sacrifices actually do help in the long run.

6)      Don’t Use Too Much Gadgets

Speaking of gadgets, my grandmother disliked it when we were too gadget-dependent. She always said it was better to talk to people in person. That it was better to write on paper, to call people instead of texting. And although she loved to do video conference calls with our family members overseas, she told us simplicity was still the best. We grew up without feeling the need to get the latest phones or tablets—and we never felt bereft in any way.  

7)      Walk

Aside from a sterling reputation at work, my grandma was also known for being a regular “walker” outside her home. She would spend her mornings walking back and forth the sidewalk. She would do her inhale-exhale exercises in the fresh morning air while greeting her neighbors. This made her strong and healthy. She told us to do the same. So when I started to work already, I’d walk instead to wherever I needed to be—so long as these places were only a few short distances away. I didn’t think riding taxis or driving cars was ever a necessity, so this habit helped me save money.

8)      Love Your Family

This particular advice, she didn’t really tell me straight. I say this because this is how I saw her live her life. My grandmother gave so much importance to money, but she knew when and how to spend it properly. She didn’t waste it on jewelry or stuff she knew she wouldn’t really use. If there was something she spent huge on, it was on me and on the rest of the family. Every now and then she would buy food to cook for the whole clan. There’s really nothing like a deliciously-prepared home-cooked meal to bring everyone together. It was always about keeping the family tight-knit.  

                It has definitely been easy add to—and grow—my savings because I saw how grandma did it her whole life. I know that when I have my own family, I’d do the same as well. The best way to teach something is to live it, after all. I’m sure that if anyone else follows these tips and makes them their own, more people are surely going to reap the financial, and emotional benefits, in their lives— all thanks to my grandma’s money saving advice.

About The Author:

Mark Yasay is a social media enthusiast and a writer for MoneyMax, the Philippines most comprehensive online platform for comparing financial and telecom products. MoneyMax aims to consistently find the best broadband plans, credit cards, loans, and other services and products that suit your needs.

1 Top 5 Best Insurance Companies

When setting financial goals, we often include building a healthy savings fund and starting a lifefree of debt. The more ambitious among us would look for ways to invest and grow their money. For those who are more cautious and would like a safety net in case things do not go as planned, getting insured is a definite must before they can consider themselves financially stable.

Insurance protects you from unexpected expenses and emergencies, but not everyone is comfortable with the idea of applying for one. Some of them even think insurance agents are merely out to get them for a commission.

But not all insurance providers are there to take advantage of you or your money. There are actually some good and reliable insurance companies out there. It is just a matter of finding a provider that could meet your specific needs.

MSN has recently released a list of the best insurance companies based on customer and claims satisfaction, value for money, along with recommendations and renewal rates. The insurance providers that have won the favor of loyal customers so far are as follows:

1. USAA
USAA, which caters exclusively to military men and their families, is an auto and home insurance provider with mainly positive reviews. In the survey conducted by MSN, customers reported a smooth claims process, the availability of various plans and discounts, and good policies with no sudden rate hikes. The company also offers affordable home insurance packages. 

2. Erie Insurance Group

Erie Insurance Group provides attractive auto insurance rates locked in within a year even if you make a claim within the said period. The provider has won the loyalty of long-time customers for reasons such as rates do not increase after your first accident, and deductibles with your plan can be reduced if you register no accidents or moving violations. Their car insurance package even covers pets injured in a car crash

3. Amica Mutual

One of the oldest auto insurance providers in the US, Amica Mutual is backed by a history of delivering outstanding car insurance policies to its customers. Being a mutual insurance company, Amica is owned by policy holders. It offers low auto insurance rates and impressive customer service. It is, in fact, one of the few large insurance companies that consistently get high rankings for customer satisfaction. Aside from auto insurance, Amica Mutual also specializes in homeowners, marine, and personal liability policies. 

4. American General
American General offers comprehensive life insurance packages to provide plan holders with income replacement, mortgage payoffs, or education funds. The insurance provider offers very low premiums to small business owners and large families, with different insurance terms available. Customers reported how their complaints have been addressed promptly and adequately, thus increasing American General’s customer satisfaction scores.

5. Kaiser Permanente
     Kaiser Permanente scored the highest for top health insurance providers. It registered high scores in claims satisfaction and customer renewal score. The company offers a selection of individual and family health insurance plans in ten states. Pricing is relatively higher over other health insurance plans but plans are mostly for the long term.

1 Managing your finance successfully

Successful finance management is a valuable skill that would be handy for everyone. To be successful you need to know how to operate your finance effectively and how to make the most of your money. Here are a few easy tips how to become more efficient in managing your personal finances.
 1. Use single email address for payments. If your accounts are associated with various email addresses it would take more time and effort to track your balance. Check the balance regularly to know exactly what your financial situation is.
 2. Plan your expenses. Take a piece of paper and write down all your expenditures: flat rent, utilities, electricity bills, petrol, cinema, clothes, food, loans – all things you pay money for. See where you spend the most, check which items you could cut off or reduce expenses on. 
 3. Consider payday loans in emergency. If you are facing some unexpected expense and have no money to cover it on time, think about taking out internet loans online as this way you can avoid delays with your payments and even save some money. But bear in mind that you will be able to succeed only if you use this service wisely. 
 4. Calculate exactly how much you earn. Write down all the sources of income and how much money they bring. Compare the 2 numbers: your expenditure and your earnings. How much money is left after you pay all your bills? Know this number exactly because this is the sum you can invest to generate income. 
 5. Control your expenses. If you have done 2 previous tasks you should now know how much money you can spend every month. Make sure you don’t exceed the limit or otherwise you will get into debt. 
 6. Start building financial backup in case of emergency. Life is unpredictable: sudden illness, robbery, car accident, broken laptop, veterinary clinic. You never know what difficulties you may face and what extra expenses you will have to go into. So it is better have some emergency fund. Calculate your earnings and start saving 2, 3, 5, 10% from your income every month. 
 7. Subscribe to a retirement program. Check the retirement programs the banks in your city offer. Chose the one that won’t be a great burden on you. Most often such programs deduct a certain sum of money from your account every month or quarter. This is done automatically so you don’t need to bother and remember to make the payments on time. 
 8. Invest your money. If you are successful enough to have some spare money every month consider investing it into something reliable and safe. It may be a real estate deal, a project of your friend or your own brilliant idea that you can patent and generate income from. Interesting opportunities some along now and then so keep your eye on the market not to miss your deal. Alternatively you could think of a fixed deposit to earn a little from an interest rate. 
 9. Apply for health insurance. Hospital services are rather costly. If you feel something is wrong better visit a hospital as soon as possible. Having an insurance will allow you get diagnosed and get the treatment immediately. Eventually it will cost less than curing a neglected illness. 

These are simple ways of managing your finance. You don’t really need a degree in finance just keep your expenses under control, check how much you earn and try to save a little every month.

1 Create Your Own Debt Ceiling

Debt is rising for most young Americans, and it’s not the good kind of debt. More than half of college undergraduates have four or more credit cards. And 40 percent of 18- to 29-year-olds make only the minimum payment required each month. 

With few jobs available, many young people find themselves taking low-paying jobs just to pay the bills, but still coming up short every month. Accumulating a large amount of debt is easy, yet paying it off is difficult. Here are a few steps you can take to get help with your debt — and create your own debt ceiling:

Debt Settlement
There are several debt settlement companies that can call all of your creditors and work out settlements for you. Typically, part of your debt will be forgiven. Some credit card companies are willing to reduce the amount you owe by 50 percent or more.

Be careful when choosing a company, because you will likely have to pay for their services. Keep in mind that debt settlement can have an impact on your credit for years, but it likely will help you in the long run since the debt will be paid off.

Payment Plans 
If you're having trouble paying your bills, call your creditors to let them know what's going on. Some of your creditors may agree to reduce your interest or payments. A payment plan may allow you to free up extra income to pay off other bills. Depending on the company, though, payment plans may only be available if you are past due.

Offering the creditor a lump sum of cash to settle the debt on your own may also be possible, if you can free up cash from your retirement plan to put toward the debt. Selling an annuity to get immediate cash is one way you might be able to get a jump start on repayment.

Consumer Credit Counseling 
Consumer credit counseling is a great option if you have trouble creating a budget. Counselors will review your debt and income, contact your creditors to negotiate payment plans and collect the total amount for the payment plan from you. They will then make all of the payments to your creditors. 
Consumer credit counseling is another situation where you need to choose the company wisely. It is always a good idea to fully research the company before signing up with them.

Bankruptcy 
You may consider bankruptcy if your finances are completely out of hand. Depending on your situation, you may be able to have many of your debts discharged (Chapter 7) or pay back a majority of your debt over several years (Chapter 13).

Due to changes in bankruptcy laws in 2005, filing for Chapter 7 may be more difficult due to median income requirements. You must also meet with an approved credit counselor within six months before filing.

Bankruptcy will also affect your credit. Depending on the option you choose, it may stay on your credit report for seven to 10 years. Bankruptcy is a big decision with long-term effects, so make sure you have fully explored all other options before choosing this path.

Take Charge 
There are many options to help you get out of debt, but the first step you must take is to stop creating more debt. Stop relying on credit accounts as income, and find ways to reduce your monthly expenses. It may be a long journey, but the end results are priceless.

Alanna Ritchie has spent years studying, writing and learning to love the intricacies of the English language. Today, she works as a content writer for Debt.org, where her primary focus is personal finance.

4 Doctor Mortgage Loan

After the housing bubble burst, securing a mortgage loan became a difficult task. Many people no longer qualify for the mortgage loans they desire without putting money down or offering proof of adequate income. In recent years, however, some banks have begun to tap into a new corner of the mortgage loan market: doctors. With several thousand doctors graduating from medical school and residency each year, banks have begun looking to this section of the population for offering mortgage loans.

Doctors begin with lofty debts, no income, and nothing to offer for a down payment. However, with the high future potential of their earnings and a very low risk of default as compared with the general population, doctors have become a notable resource for banks to do business with. Despite the lack of income when doctors begin practicing medicine, banks realize that the future potential of doctors' earnings represents not only opportunities for mortgage loans, but also for doctors doing other business with banks in the future, such as investing.

A doctor's loan is made to new resident doctors or doctors a few years out of residency, although such loans may be made to specialized doctors, dentists, and veterinarians as well. The loan typically requires very little money down since new doctors have little money to spare, and the doctor's potential future earnings are considered when the loan is made. Additionally, the doctor's student loans are not calculated into the loan-to-income ratio. In exchange for not needing a down payment for the loan, the interest rate tends to be higher than that of a typical loan.

The loans are typically tailored for use in purchasing single occupant homes, such as garden homes or town homes. As part of the deal, the doctor often must open an account at the bank, as the bank hopes for the doctor's continued business and referrals in the future.

Well known banks, such as Bank of America, Regions Bank, Compass Bank, and Suntrust Bank are among the increasing number of banks to offer special loans for doctors, and the loans are available in many of the fifty states. Banks that offer doctor loans do not always advertise these services, so it is advised to check with each bank to make sure whether or not this type of loan is available.

For doctors considering these special loans, there are many aspects of mortgages and home-ownership to consider. A doctor in residency will not make as much as a doctor who is established and practicing. Therefore, a higher interest loan may not be in a new doctor's best interest. As a doctor's income rises over the years, the prospect of staying in small beginner's home may not be very appealing. Homes require maintenance, which will cost time and money that a new doctor may not have. Taking out a doctor loan bigger than one needs and then investing the difference could also yield some financial benefit.

An alternative to a doctor loan is to save up for a down-payment of twenty percent or so and then taking out a normal loan so as not to incur higher interest. Renting a home or an apartment is another alternative. A doctor loan is best for doctors who are serious about home ownership or doctors who are most likely to stay in the area, especially after their residency is finished. 

1 Paying for College on the House

College is financially challenging as the price of tuition keeps on increasing. Luckily, there are several ways students and parents may consider to support college education. From scholarships to Federal and State Grants to Federal loans and Private student loans, these are options for students who really want to take into the next step of education. Another option, which needs careful thinking is the use of the equity of the home to support finances. Parents may consider using home equity loan if they feel there are no other way to support their children's education.

Taking the equity of the home may be beneficial for the following reasons:

• Getting a fund through the equity might be faster if you have at least 80–85% equity in your home.

• Interest is often tax-deductible.

• Interest rates compared to other types of loans are much more in favor.

• Repayment terms are flexible, with a maximum of 30 years to pay back the loan.

Looking at these advantages, you might consider taking this loan. Perhaps, looking at the downsides would help you create better decision:

• You are taking the equity of your home and you are setting your home as the collateral. There is a tendency you will lose your home once you fail to repay your lender.

• Once payment is delayed or deferred or  forgiven in times of economic downturn, you will probably lose your home.

You may still consider college student loans considering that the interest rate of student loans is pretty reasonable compared with home equity loans. The interest is also tax-deductible up to $ 2,500 per year. Graduates can also get deferrals of up to three years on repayment of their federally guaranteed loans.

With regard to some disadvantages of college student loans, considering the recent news about the rise of student loan debt, you might want to think again.  In fact, according to the Institute for College Access and Success, the average college student graduates with more than $27,000 in loan debt. There are even others who have in excess of $ 50,000 in college debt. Regardless if there is awating job after graduation, most students in debt would not be able to afford comfort and financial stability due to financial crisis. Taking to the next path can be a huge burden with debt issues from the past.

It is better to review both the advantages and drawbacks of other ways to fund college. This will help you create better financial and education decision.

0 Save Yourself from the Credit Card Bills Scare

If you’re looking to do something beneficial for your finances, then one of the first steps remains getting your debt under control and for that you should take care to reduce and ultimately get rid of your debt. Credit card debt amongst these happens to constitute one of the most vital constituents of the complete debt scenario and saving money on it would be a rather beneficial step on your part. There are undoubtedly quite a few ways in which you can get help for paying off multiple plastic cards; however the first step on your part should be to save money on it. You might say that saving money on credit card debt is a daunting task, given the high rates of interest and minimum payments involved. Read on to find out how you can still achieve that end.
5 Strategies to help you save money on credit card bills
Before anything else you should acquaint yourself with the fact that it’s not going to be a daunting task if you practice some strict discipline when it comes to your credit card bills. Follow the simple strategies discussed below and save money on your credit card bills easily.

1.      Put together all the information: The first thing you should do is compile and put together all the relevant information regarding your credit card debt. Now, for this you might have to gather all your credit card statements and that too for each card you’ve got. Once that’s done, take care to determine the interest rate, if there’s any available credit on the credit cards plus the current balance that you happen to owe. The idea is to essentially know where you stand.

2.      Get in touch with credit card companies: Once you’ve done the above, then it’s time for you to get in touch with each of your credit card companies. You’ve simply got to ask them to reduce the rate of interest on your cards. This can be possible for you’ve got to understand that there are several credit card companies out there which offer interest rates ranging from low to high. So you might as well negotiate knowing that there are other credit card companies waiting for you out there. If any representative doesn’t offer you a lower rate of interest, then you can easily inform them that you’re switching over to a company that’s offering you a better deal.

                             

3.      Use extra income to pay down balance: Next, you must make proper use of any extra income that you generate to pay down your balance. Unexpected or bonus income should always be used for this purpose. Moreover, you shouldn’t forget the fact that more the balance, higher will be the rate of interest. So lowering your balance is bound to prove effective. Simple steps like selling items you no longer need will help you generate extra cash easily.

4.      Check for the card with maximum credit: You should also check your credit card statements and determine which of your cards have got the maximum available credit and the lowest rate of interest. This is important for you can then use this particular card to pay off balances on other high interest cards.

5.      Keep a definite track of your progress: Saving money on your credit card bills not only requires effective action on your part, but also a proper track of your progress. You should evaluate what you’re doing and how effective things are proving down the line.

Keep in mind the 5 strategies that have been discussed above and take steps accordingly. Once you practice enough discipline and take action effectively, then saving money on your credit card bills won’t be a daunting task anymore.

Author Bio: This article has been put together by Barbara Delinsky. She’s associated with a number of financial websites and she’s known to write on credit card debt related topics. Her articles are widely read and many have found it worthwhile.

1 Everyday Financial Tips Parents Can Give Their Kids

There is a proper mindset regarding money that should be taught to children as soon as possible. A child that is taught proper money management skills at an early age will continue those habits as adults. Parents who really care about their kids will make sure that they have proper money management skills.

Tip 1-Having Proper Medical Coverage Is Mandatory

Medical bills are among the leading causes of bankruptcy in America. However, medical coverage doesn't have to be something that is expensive to carry. Cheap medical insurance quotes can easily be found online with a simple Google search. Another option for receiving coverage is to find an employer who is willing to provide medical coverage to employees.

Tip 2-Make Savings A Key Part Of Any Budget

Saving money can lead to a stable financial future. Having a healthy amount of money in a bank account can help to protect against a future financial emergency. You never know when you might lose your job and the money that goes with it. An unexpected medical bill could add to your expenses when you have not planned for it. Having a baby would certainly create new expenses that a healthy savings account would help you with. Having an emergency fund allows you to deal with the financial adversity that life is going to throw your way.

Tip 3-Pay Cash Whenever Possible

Credit cards can be a great help in times of emergency. However, credit cards can also cause financial problems if you rely on them too much. Never use a credit card when you can pay for something in cash. The interest that you have to pay is not worth it. Credit debt can become a larger problem should you ever lose your job and ability to pay on time.

Tip 4-Only Carry One Credit Card At A Time

The best way to minimize reliance on credit is to limit the amount of credit you have available. Carrying only one card at a time is a great way to make sure you are not going crazy with your spending.

Tip 5-Invest Your Money Wisely

An easy way to lose your money is to invest it poorly. Always take your time before putting any of your money in the market or probably invest in a real estate. Analyze the risks and potential pitfalls before giving anyone your money. One bad investment can drain you of all your savings.

Tip 6-You Will Never Get Rich Quick

The only way to build your wealth is to use patience and good planning. Saving money is a long-term project that requires you to make sacrifices for the greater financial good. Trying to get rich without working for it will generally cause you to lose everything.

Being smart with your money is an important part of a stable future. Having a stable source of money will give you security and peace of mind as you go through life. Financial security gives you so many options and choices as to how you want to live your life. The ability to save your money provides insurance against the adversity that life will throw your life.

2 Basic Money Savings Tips for Dummies

It is difficult to achieve peace of mind and quality of life if you are constantly struggling to save money and feel constant stress due to overwhelming debt. Starting small to achieve financial success is possible for anyone, no matter how small their income or how big their debt.
 

Cut down on your spending by clipping coupons for groceries and othe rpurchases. Even a 5 to 10 dollar savings per week adds up over time. Stop spending your money foolishly. If you are addicted to drinking expensive coffee from a coffeehouse enroute to work, invest in a gourmet creamer in a comparable flavor and an insulated coffee cup. Taking the coffee from home helps put money in your pocket and soon you may actually prefer the homemade version to the more expensive. Cutting corners in this way adds up to a large amount of extra money over time.

Make a budget that curtails frivolous spending for everyone in your family. Do not make the budget so rigid that there is no room for fun purchases. Allocate each person a small amount of cash to spend however he or she desires each week. If the individual has his heart set on a high price item, tell him that he then has to save his money until he has enough for the purchase. One of the most important categories in a budget is the savings account. Treat this just like a bill and if possible, have the money automatically deposited each time you receive a paycheck.

Concentrate on building an emergency savings account for car troubles, house repairs or other inevitable problems that pop up. Once you have the savings in place, you no longer have to resort to credit cards to pay for these money crunches. A wise amount for an emergency savings is about $1000. After building this type of savings, strive for a larger savings of 3 to 6 months of living expenses.

Pay the minimum on every credit card you have each month to avoid late fees. Choose the credit card with the lowest balance to pay any extra cash you have on hand on each month. Soon the balance will be zero and you can take the money you were paying on that credit card and apply it to another one. Following this method steadily and consistently enables you to pay off the credit cards. It also enables you to avoid the high interest rates on these accounts. Never buy a new car unless you can pay cash for it. If you need a relatively new car because you transport clients or drive long distances to work, purchase one that is at least two years old. Once you drive a brand new car off the dealer parking lot, the value diminishes rapidly.

Save up so that you have a hefty down payment for a house. The bigger the down payment is, the less your mortgage payments will be each month. Make it a goal to have enough of a down payment so that you don’t have to buy private mortgage insurance – or PMI. This protects the lender against default if the homeowner does not make the payments. This type of insurance is costly. In most states if you put down 20 percent or more on your home, you are not required to have the PMI. In addition, purchase a home that you can easily afford on one salary is you and your spouse both work. This prevents unhealthy financial stress if one of you is laid off, fired or disabled.