Categories
Brandon Blog Post

BANKRUPT: EVEN A PRESIDENT CAN BECOME ONE

BANKRUPT: EVEN A PRESIDENT CAN BECOME ONEBankrupt. This word still carries a stigma with it, but did you know that 4 American Presidents became bankrupt? So even a President can become bankrupt. They’re really not so different from average working people who find themselves drowning in debt. In fact American presidents became bankrupt at a rate at least 20 times the national average. And, their financial downfall was largely due to ill conceived real estate speculation, poor crop yields on the lands that they held, and high risk business deals that ended badly.

Which American presidents became bankrupt?

  1. Thomas Jefferson (1801-1809), America’s 3rd President: Jefferson inherited debt from his father-in-law. He managed his own money poorly and by all accounts lived a very opulent lifestyle which sadly, his main source of income – Monticello – was inadequate to support. As a result Thomas Jefferson struggled with debt issues for most of his life and went bankrupt several times. He died owing $107,000. After he died, his estate was auctioned off, and his surviving daughter was forced to rely on charity.
  2. Abraham Lincoln (1861-1865), America’s 16th President: Abraham Lincoln’s business venture in his 20s left him in financial ruin. He opened a general store in the 1830s with a partner, but it was a financial disaster. Lincoln sold his share in the store before it went bankrupt but his former partner died not long after and Lincoln became liable for the outstanding debts. The sheriff seized his only assets which were a horse and some surveying equipment to repay some of his creditors. It took another 17 years for the insolvent debtor to satisfy his remaining obligations.
  3. Ulysses Simpson Grant (1869-1877), America’s 18th President: Ulysses S. Grant lived well beyond his means. After leaving office he and his wife went on a very costly round-the-world tour. In 1881, Grant’s son, Buck, convinced his father to invest $100,000 with one of his associates, Ferdinand Ward. The money was mismanaged and embezzled, resulting in the bankruptcy of the firm of Ward and Grant. Ulysses S. Grant went bankrupt and ultimately had to sell his civil war memoirs to provide for his family.
  4. William McKinley (1897-1901), America’s 25th President: Although William McKinley did nothing personally to bring financial ruin upon himself; he co-signed a $100,000 loan for a friend who later went bankrupt. This in turn forced McKinley to declare bankruptcy on the $100,000 debt while he was Governor of Ohio in the 1890s.

Things really haven’t changed much since the 1800s; living beyond your means, making bad business investments and co-signing a loan are still common causes of people becoming bankrupt. Any of this type of debt, along with credit card debt, can cause you to live paycheque to paycheque. If you are considering bankruptcy contact a professional trustee as soon as possible. Ira Smith Trustee & Receiver Inc. is a full service insolvency and financial restructuring practice serving companies and individuals throughout the Greater Toronto Area (GTA) facing financial crisis or bankruptcy that need a plan Starting Over, Starting Now. There is life after bankruptcy. Contact us today.

Categories
Brandon Blog Post

CREDIT CARD DEBT IS MORE THAN A 4-LETTER WORD

 

CREDIT CARD DEBT IS MORE THAN A 4-LETTER WORDCredit card debt. There’s a lot of discussion about it in the news these days and the news is all bad; but the reality is that there is good debt and bad debt. As you will read, debt, including credit card debt is more than a 4-letter word. However, no one is denying that debt is a serious issue for many Canadians. According to the Canadian Institute of Chartered Accountants surveys conducted in December and June, 2012:

  • 50% of Canadians think reducing debt is a high priority
  • 48% of Canadians would have difficulty making mortgage payments if interest rates rose significantly
  • 43% of Canadians carried over a balance on their credit cards
  • 17% of Canadians borrowed to cover day-to-day living expenses

According to Statistics Canada, between 1984 and 2009, household debt (which includes credit card debt) in Canada more than doubled from $46,000 (in 2009 dollars) to $110,000. In February 2011 the Vanier Institute of the Family reported that the average Canadian family had hit $100,000. If there is such a thing as good debt and bad debt, what’s the difference? The distinction is based on the purpose for which it is taken on. Good debt can be defined as anything that builds your assets or increases the potential for you to earn more money. Bad debt is typically incurred to purchase things that have no value or quickly lose their value and usually carries a very high interest rate – which more often than not is found in credit card debt.

Some examples of good debt:

  • Mortgage
  • Real estate
  • Student loans from the provincial or federal government
  • Investment loans

Some examples of bad debt:

If you are having trouble paying the monthly bills, and have out of control credit card debt, it really doesn’t matter if you have good debt or bad debt; it’s time to see a professional trustee. Ira Smith Trustee & Receiver Inc. will evaluate your situation and help you to arrive at the best possible solution for your problems, whether that solution are bankruptcy alternatives like credit counselling, debt consolidation or a consumer proposal or bankruptcy. Starting Over, Starting Now you can be debt free with the help of a professional, licensed trustee in bankruptcy. You can even do some advance study with our bankruptcy faqs. Contact us today.

Categories
Brandon Blog Post

FINANCIAL INFIDELITY IN MARRIAGE LEADS TO DIVORCE

FINANCIAL INFIDELITY IN MARRIAGE LEADS TO DIVORCE

Financial infidelity in marriage: Introduction

Financial infidelity in marriage is a recurring problem. Couples heading to divorce argue about many things – the kids, sex, in-laws, the house, division of labour – but a study from Utah State University and recent statistical findings from online divorce service MyDivorcePapers.com (MDP) have re-confirmed that the cause of money, not sex, is the top predictor of divorce. The study and the data show that couples who engage in financial infidelity in marriage routinely argue about their finances are setting a steady course for divorce. Many studies echo these findings, including a 2012 longitudinal study that found that money is the number one cause of tension in relationships and as a result, it’s also the top predictor of divorce.

Financial infidelity in marriage: Our definition

Financial infidelity in marriage occurs when a spouse commits to serious spending that affects the entire household without first consulting their mate. To avoid becoming a statistic couples should be doing a lot of talking about finances before saying I Do and throughout the marriage. It may not be romantic but avoiding the conversation may doom your relationship to failure. You are no doubt discussing your compatibility in many areas of life. You are more than likely not discussing your financial compatibility. The likelihood of financial infidelity in marriage may be increased as a result.

Financial infidelity in marriage: Some important considerations

Have you considered:

  • How you’re planning to pay for your lifestyle?
  • Saving for retirement?
  • If your spending habits are compatible?
  • What your financial priorities are?
  • Your assets?
  • Your debts?
  • A prenup?

Financial discussions need to be frank and transparent. The health of your marriage may depend on your financial health. If in the course of your financial discussions you uncover serious debt issues, it’s better to deal with the debt sooner than later.; stay away from divorce by not committing financial infidelity in marriage.

Financial infidelity in marriage: We can help you

Start your life off debt free and with a go forward plan to stay that way. For sound professional help and advice contact Ira Smith Trustee & Receiver Inc. today. We can’t guarantee you a happy marriage but Starting Over, Starting Now we can help you deal with serious debt issues and put you on a path to living a debt free life.

Categories
Brandon Blog Post

A GREAT CREDIT SCORE DOESN’T MEAN YOU WILL GET THAT LOAN

A GREAT CREDIT SCORE DOESN’T MEAN YOU WILL GET THAT LOANCredit score. If you’re not concerned about your credit score, you should be. Our lives revolve around our ability to access credit – car loans or leases, co-signing a loan for others, mortgages, rental agreements, lines of credit, credit card. In addition to affecting our ability to borrow, credit scores can impact our insurance rates and even our love lives.

What is a Credit Score? According to TransUnion, one of Canada’s largest credit reporting agencies, “A credit score is a statistically derived prediction of an individual’s credit risk at a particular point in time. Credit risk is typically defined as the likelihood of an individual becoming seriously delinquent (i.e. 3 payments past due or worse) within a 12-24 month period in the future). The score is a three-digit number that lenders use to help them make decisions. A higher score indicates that the individual is a better credit risk to a lender”.

I have always advocated to clients that having a good credit score is more of a risk/reward indicator for lenders as opposed to a true measure of “credit responsibility”. Credit scores don’t really evaluate credit worthiness, but instead whether a company can make a profit from the person. The good credit score they are looking for is in a range where you don’t pay things on time, but you eventually pay. That way they can charge interest, but feel comfortable that ultimately you will pay them in full. If you pay all your bills off in full and on time every month your credit score may indicate to the credit card issuer or lender that they may not be able to earn enough profit from you and therefore your credit score may not be as good as someone who carries a balance and pays the minimum every month. Although it may sound counterintuitive, having a great credit score doesn’t necessarily mean you’ll get that loan. However, it goes without saying that if you have a very poor credit score, then with certainty we can say that you will not obtain the approval of your banker. Unfortunately, there is not an online tool such as a Canadian credit score calculator.

If you’re having credit problems, it may be indicative of serious debt issues. Contact Ira Smith Trustee & Receiver Inc. today. Starting Over, Starting Now we can help you deal with your debt issues and restore you to financial health.

Categories
Brandon Blog Post

LINES OF CREDIT (LOC) CAN BE JUST AS DANGEROUS AS A CREDIT CARD!

line of credit, lines of credit, loc, credit line, credit card debt, credit cards, interest rates, lower interest rates, financial trouble, credit cards to build credit, credit line increase, financial trouble help, line of credit vs loan, lines of credit for bad creditWe are constantly bombarded with messages about the dangers of credit card debt, but no one is talking about Lines of Credit (LOC). The reality is that Lines of Credit and credit cards are just financial products. They are not in and of themselves problematic; how we use or abuse them is the issue. A Line of Credit can be just as dangerous to your financial well-being as a credit card.

What is a Line of Cre​dit? A Line of Credit is a type of loan that lets you borrow money up to a preset limit.

How does a Line of Credit work? You can withdraw or transfer funds from your Line of Credit at any time by:

  • Making a withdrawal at your financial institution or at a banking machine
  • Writing a cheque
  • Telephone or online banking

Once you pay off or pay down your Line of Credit, you can access the funds up to the limit you are allowed. You pay interest on the amount that you borrow from the day you take the money out of your Line of Credit and you must make a minimum payment on the balance every month.

How do you get a Line of Credit? You can apply for a Line of Credit at a financial institution. They will determine your credit worthiness and your credit limit (how much you will be allowed to borrow on your Line of Credit).

Financial institutions have been promoting the use of Lines of Credit and it’s not a big surprise; they make money when you borrow money. And although Lines of Credit do come with lower interest rates than most credit cards, they can be just as dangerous to your financial future. The lower interest rates have lulled many people into making purchases that they may not have otherwise made. Then the reality of paying off the Line of Credit becomes a reality and where is the money going to come from?

According to Equifax, “More and more Canadians, it seems, are turning to their credit line, with balances increasing across the country”.

David Chilton, author of The Wealthy Barber and The Wealthy Barber Returns has very strong, negative opinions about Lines of Credit. “LOCs are the “worst thing” that’s happened to Canadians in the last 20 years. If I was prime minister, I’d shut them down.” Chilton said at a 2011 conference of the Canadian Pension & Benefits Institute as reported in the National Post newspaper. “It’s unbelievable how people are abusing these things.”

Borrowing without a solid repayment plan will get you into financial trouble every time. Are you experiencing serious debt issues as a result of your Line of Credit or credit cards? Contact Ira Smith Trustee & Receiver Inc. today. Starting Over, Starting Now we can help you live a debt free life.

Categories
Brandon Blog Post

BABY BOOMERS DEBT CRISIS: WAITING FOR AN INHERITANCE TO BAIL YOU OUT?

BABY BOOMERS DEBT CRISIS: WAITING FOR AN INHERITANCE TO BAIL YOU OUT?Baby boomers debt crisis. The subject of inheritance is always highly charged – especially if you are in a Baby Boomers debt crisis. Parents seem to be divided into several camps. There are those who are self made and who believe that their kids will learn more from making it on their own than by receiving it on a silver platter. Others have spoiled their kids with a lavish lifestyle that only an equally lavish inheritance will be able to support. And there are those like billionaire Bill Gates who fall somewhere in the middle. This is his take on his wealth and inheritance for his children.

“It will be a minuscule portion of my wealth. It will mean they have to find their own way. They will be given an unbelievable education and that will all be paid for. And certainly anything related to health issues we will take care of. But in terms of their income, they will have to pick a job they like and go to work. They are normal kids now. They do chores, they get pocket money”.

Sadly there are many people who are living well beyond their means and waiting for an inheritance to bail them out of serious debt issues. They are living the life they believe is their right and as a result have an enormous mortgage, leased cars, maxed out credit cards and nothing but a mountain of debt to call their own.

  • An HSBC Bank report released in September, 2013, found 39% of working people are banking on some type of inheritance with the median value expected to be $77,213.
  • A report by Moneyville calculates that baby boomers are poised to inherit about $1 trillion over the next two decades as their parents and other close old relatives die.
  • According to MoneySense, 36% of the wealthiest families have received an inheritance; the average amount of that inheritance was $136,000.

However a BMO report shows that what many Canadians expect and what they may receive are quite different:

  • About 1.5 million Canadians are relying on their inheritance as the primary source of capital to fund their retirement.
  • On average, Canadians expect to receive a total of $150,600 in cash or cash equivalents, and $151,200 in non-cash inheritance.
  • In reality, inheritance sums received were significantly less – the average inheritance received was $56,000; certainly not enough to provide a solution to the question – Will I ever be able to retire?

Waiting for an inheritance to bail you out of a baby boomers debt crisis or other serious financial problems is clearly not a sound plan. If you have serious debt issues you need a professional. Contact Ira Smith Trustee & Receiver Inc. today. As professional trustees we can offer a sound financial plan and a way out of your baby boomers debt crisis for Starting Over, Starting Now. Take the first stop towards living a debt free life.

Categories
Brandon Blog Post

JOINT ACCOUNTS: SHARING WITH YOUR SPOUSE IS GREAT, BUT NOT THIS

 

JOINT ACCOUNTS: SHARING WITH YOUR SPOUSE IS GREAT, BUT NOT THISIn many instances, marriage vows would be more accurate if the phrase were changed to “Until debt do us part”.

Sam Ewing

Joint accounts: Introduction

Sharing with your spouse is great, but not your PIN number or joint accounts. Some couples like to share everything in a marriage, but too much sharing, especially as it pertains to finances is not necessarily a good thing. We’re not saying that discussing finances is a bad idea; in fact it’s a great idea! But, sharing your PIN number is not recommended, and for good reason.

Joint accounts: Mixed feelings

Laurie Campbell, executive director of Credit Canada which deals with people with credit problems, says she has mixed feelings about people joining up their lives financially. “We see so much in here,” said Ms. Campbell. “You have to know what you are signing up for. We all go into these relationships with the best intentions thinking everything will be rosy. Unfortunately, it’s not the reality. What credit counsellors do is speak with couples who come to us, many of whom can’t even sit in the same room because of the damage they have done to each other’s credit. When involving joint accounts, the financially responsible spouse ends up paying for the financial sins of the other. If you have one person who is a saver and the other person is a spender, you’re in trouble,” said Ms. Campbell.

Joint accounts: Money can be the primary cause of divorce

The cause of about 1 in 5 of all Canadian divorces is primarily by money. Financial incompatibility was and still is a serious issue. According to a Harris Interactive poll recently released:

  • A third of American couples with joint finances say they have committed financial infidelity, with both sexes lying to their partners in equal numbers.
  • 67% of those couples had arguments as a result.
  • 42% said it caused less trust in the relationship.
  • 16% of cases, the lying led to divorce; in 11% it caused a separation.

Joint accounts: Joint accounts does not equal a joint financial plan

In spite of advice to the contrary, a survey from the Chartered Professional Accountants found 69% of spouses or partners have shared their PIN. Yet a recent poll from TD Canada Trust found that only 36% of couples have a joint financial plan. For some couples a PIN number is symbolic of sharing in the relationship and for others it’s just convenient, but clearly it can be a recipe for financial disaster. Think twice before sharing your PIN number with anyone and that includes your spouse. The same is also true for co-signing a loan and using joint accounts not providing equal benefit to each spouse.

Joint accounts: What to do if you are facing serious debt issues

If you’re facing serious debt issues, contact Ira Smith Trustee & Receiver Inc. today. We’re not marriage counsellors, but we are credit counsellors. In addition to credit counselling we offer other bankruptcy alternatives such as, debt consolidation and consumer proposals as well as bankruptcy. Take the first step towards a debt free life, Starting Over, Starting Now.

Categories
Brandon Blog Post

407 ETR FAIRNESS-ONTARIO COURT OF APPEAL ENSURES 407 ETR FRESH START

consumer proposal bankruptcy alternatives trustee bankruptcy and insolvency act vaughan trustee 407 407ETR bankruptcy ontario Ira Smith trustee Receiver Inc1
consumer proposal bankruptcy alternatives trustee bankruptcy and insolvency act vaughan trustee 407 407ETR bankruptcy ontario Ira Smith trustee Receiver Inc1

 

407 ETR407 ETR found out that bankruptcy law is complicated. It not only deals with the facts, but with the spirit of the law. Canada (Superintendent of Bankruptcy) v. 407 ETR Concession Company Limited, 2013 ONCA 769 (Bankruptcy and Insolvency Act CanLII) is a very interesting case.

It involves Matthew David Moore, a truck driver who owned two vehicles and was a frequent user of this toll highway. Mr. Moore owed the money for usage of the toll Highway which he failed to pay. In March 2005 and December 2006, 407ETR sent notices of his non-payment relating to two separate vehicles to the Registrar of Motor Vehicles for the Province of Ontario (the “Registrar”). As a result, when the vehicle permit for one of the vehicles expired in August 2005, it could not be renewed. However, Mr. Moore continued to use Highway 407 for another 18 months and as of October 2007, he owed $34,977.06.

In November 2007 Mr. Moore made an assignment into bankruptcy. The 407ETR was listed as a creditor but it did not file a proof of claim which would have enabled the 407ETR to make submissions at any hearing into Moore’s discharge from bankruptcy and to share rateably with Moore’s other unsecured creditors in the bankruptcy. After declaring bankruptcy Mr. Moore had an accident and retrained to become a car salesman, which is what he now does for a living. He gave evidence that he needs a vehicle permit in order to do his job and earn a living. In February 2011 Mr. Moore obtained a conditional discharge from bankruptcy. He requested an Ontario Ministry of Transportation (“MTO”) vehicle permit but the MTO refused his request due to his outstanding indebtedness to this Highway concession company. On June 21, 2011, Mr. Moore obtained an absolute discharge from bankruptcy. Even though he was discharged from bankruptcy, the MTO refused to issue Mr. Moore a vehicle permit. The alleged conflict, in this case, is between s. 178(2) of the BIA, which releases the discharged bankrupt from most claims, and s. 22(4) of the 407 Act, which permits 407ETR to initiate a process by which the debtor will be denied a vehicle permit until he or she discharges the debt to 407ETR. A lot of legal wrangling ensued and eventually, this matter went to appeal. The issues on appeal were:

(i) Does s. 22(4) of the 407 Act conflict with the operation of s. 178 (2) of the BIA?

(ii) Does s. 22(4) of the 407 Act conflict with the purpose of the bankruptcy and insolvency system because it (a) thwarts the objective of providing the bankrupt with a fresh start or (b) creates a new class of debt that survives bankruptcy and frustrates Parliament’s intention to treat all unsecured creditors equally?

What was the 407 etr ruling?

“For these reasons, I would allow the appeal and, as requested by the appellant, set aside the order of the motions judge. In its place, I would substitute an order that:

(1) the discharge of Moore dated June 21, 2011, released him from all claims provable in bankruptcy, including the toll highway debt as at November 10, 2007, and

(2) the Ministry of Transportation is hereby directed to issue license plates to Moore upon payment of the usual licensing fees.

Further, I would declare that s. 22(4) of the 407 Act is inoperative to the extent that it thwarts the purpose of providing a discharged bankrupt with a fresh start.”

This decision ensured that bankruptcy did provide Mr. Moore with a fresh start. If you are experiencing serious financial problems and are looking for a fresh start, contact Ira Smith Trustee & Receiver Inc. today. You can even do some self-study with our bankruptcy faqs. Upon review of your situation, we will provide you with a solid plan for moving forward. Starting Over, Starting Now you can get your life back on track and live a happy and productive life.

Categories
Brandon Blog Post

PAYDAY LOANS ARE NOT THE ANSWER TO YOUR FINANCIAL PROBLEMS

PAYDAY LOANS ARE NOT THE ANSWER TO YOUR FINANCIAL PROBLEMSPayday loans. The holidays are over and it’s time to pay the piper. Your mail box is full of credit card bills and you don’t know where the money is going to come from, so you think about payday loans.

You’ve got the TV on and low and behold, what could be playing but a commercial for a company offering payday loans promising to be the cure for what ails you. Just make a call, drop into a payday loan store or go online and like magic, your money problems will be over with payday loans. Not so fast! That’s not exactly how it works. And, it will not solve your money problems; it will create new ones. Instead of owing the credit card companies money, you will owe the payday loan companies money. Payday loan companies don’t lend money because they are charitable. They lend money at exorbitant rates because they know that you can’t borrow anywhere else and you will get caught in the cycle of endless payday loans.

Here is a typical example of how payday loan companies do business. The Cash Store charges annual interest of 59.9% to new borrowers. As a result the provinces have been going after payday loan companies to protect the consumer. The December 2013 amendment by Ontario is the second time that year The Cash Store and their payday loans faced regulatory scrutiny from the province, according to Moody’s. In February, the Ontario Ministry of Consumer Services was preparing to revoke the company’s payday loans licence when it substituted a new one-year line of credit product to continue lending. Payday loans are most often taken out by low-income people willing to pay high interest rates to avoid falling behind on their bills or to cover emergency expenses, according to studies commissioned by the Canadian government and the Canadian Payday Loan Association.

If you have to go to a payday loan company, you have serious debt issues and you need professional help. There is nothing to be ashamed of. You’re like many people who have been living paycheque to paycheque until one day you either lose the paycheque or it just isn’t enough to pay the bills. Contact Ira Smith Trustee & Receiver Inc. today. We will evaluate your situation and discuss the options with you which may include bankruptcy alternatives such as credit counselling, debt consolidation and consumer proposals in addition to bankruptcy. Starting Over, Starting Now you can live a debt free life.

Categories
Brandon Blog Post

REDUCE DEBT: 5 NEW YEAR’S RESOLUTIONS TO REDUCE DEBT IN 2014

REDUCE DEBT: 5 NEW YEAR’S RESOLUTIONS TO REDUCE DEBT IN 2014Reduce debt now to have a Happy New Year! This is the time of year that we vow to take charge of our lives and get healthy, lose weight, join a gym, find love, get a new job…. I’d like you to expand your thinking to include your “financial health” and reduce debt. According to RBC, Canadians are getting deeper in debt – non-mortgage debt in Canada jumped 21% in the past year alone to $15,920 per capita. Don’t become a statistic. Here are 5 New Year’s Resolutions to reduce debt in 2014.

1) I will live within my means: With interest rates low, you may be lured into taking advantage of what you perceive as a great deal. Borrowing, even with low interest rates, is only a good deal if you can afford to make the payments. There are many multimillion dollar houses in foreclosure and many repossessed luxury cars. Buy what you can afford. You can reduce debt this way.

2) I will create a budget and stick to it: A budget can be your best friend. RBC reports that Canadians’ total debt burdens, including mortgages, now stand at 163% of household income, or $1.63 owed for every $1 earned. This is a recipe for financial disaster. A budget will show you what your income is and what you can really afford. You may have to go a strict spending diet in order to get your finances back under control and reduce debt.

3) I will not max out my credit cards: It’s easy for spending to get out of control when you’re using credit cards. Spending takes on a whole new meaning when you actually use money to pay for things. If you want to buy something, pay for it with cash. Keep those credit cards out of sight for day to day spending and use them for emergencies only. This will allow you to reduce debt.

4) I will monitor my credit report. As we discussed in a recent blog – YOUR CREDIT RATING CAN BE RUINED EVEN IF YOU DON’T DO ANYTHING WRONG – it’s very important that you monitor your credit report and take immediate action if there are any errors. Don’t wait until your credit rating is ruined and you no longer have the ability to borrow.

5) I will start an emergency fund: I know that you’re going to say that you can’t afford to save; but telling you that you can’t afford not to save. Do you really need the expensive lattes and cappuccinos every day? Sell the stuff sitting in your garage or basement collecting dust. One man’s junk is another man’s treasure. See if you can negotiate a better deal on your cable TV package or cell phone plan. Can you cut out a few restaurant dinners and cook at home instead? All of these little things will help you establish your emergency fund while you reduce debt. And, remember, this money is for emergencies, not an all inclusive get away to Mexico.

If you’re experiencing serious debt issues, take control of your life and contact Ira Smith Trustee & Receiver Inc. today. Starting Over, Starting Now there is a way out of debt. Let us show you how. Let’s all make 2014 a great year and a year where you reduce debt!

Call a Trustee Now!