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PAGE M-PLAINDEALER-WEDNESDAY, FEBRUARY 28, 1973 19 , JD * : b. . n* -j. 81 Kt «v The Law Serves You "Ifl&ge Earner Plan" Offers Alternative to Bankruptcy The. Illinois State Bar association said today that personal bankruptcies can be expected to increase in 1973 along with tiie record consumer debt hut added that in many cases the so-called Wage Eaitier plan for paying off one's debts should be resorted tosffather than straight bankruptcy. The bar group described the Wage Earner plan as a relatively little-known alter­ native to bankruptcy which is provided under Chapter XIII of the federal Bankruptcy Act. It said surveys show that the plan should be utilized by at least one third of those persons who seek to absolve themselves of their debts through personal bankruptcy. By utilizing the Wage Earner plan, a person who derives the principal part of his income fTofn wages, salary or com­ missions may set up a court- approved plan for the payment oi jhis obligations over an ex­ tended period of time and on a pro-rata basis. The plan has the advantages of ultimate satisfaction of one's debts. avoids the stigma of bankruptcy and usually enables the debtor to maintain possession and increase equity' in his property. Creditor approval of the Wage Earner plan is required but normally this is for­ thcoming since the plan offers a reasonable assurance of payment as opposed to writing off many debts completely in a s t r a i g h t b a n k r u p t c y proceeding. Early consultation with an attorney is advisable, the ISBA said, so that the client and attorney may examine the options, including the Wage Earner plan and other forms of relief available under the Bankruptcy act. However, most other alternatives to bankruptcy are more costly or set minimum income or liability limitations which are not imposed bv Chanter XIII Here are steps involved in the Wage Earner plan: PETITION. The client and his attorney decide on the sum which the former can reasonably expect to pay to his creditors and which might meet with their approval. A Chapter XIII petition. describing the petitioner's assets, liabilities and the state of his affairs, is filed in U.S. pistrict court. The attorney also may seek court orders to prevent secured creditors - those whose claims are secured by some property of the debtor - - from repossessing mer­ chandise or otherwise en­ forcing their claims and to restrain unsecured creditors from initiating or continuing lawsuits or other collection efforts. FILING PLAN. In addition to the petition, the attorney will file with the court the proposed plan of payment, indicating the number of secured and un­ secured creditors, amounts of their claims, schedule of payments and duration of .the program. ' FILING CLAIMS. The at­ torney will notify all creditors of the proposed program and request them to complete and return proof-of-claim forms prior to the meeting of creditors and for filing with the court. Ordinarily Creditors must file their proofs of claims no later than six months after the first date set for the first meeting of creditors. CREDITORS' MEETING. At the first meeting of creditors, the attorney for the petitioner will advise the court as to whether he has obtained ap­ proval of the plan from creditors. Generally, secured creditors and a majority of unsecured creditors must agree if the plan is tt) be ap­ proved by the court. Also, the debtor must make an initial deposit of funds with the court. PAYMENT. A court- appointed trustee, often a referee in bankruptcy, authorizes payment to creditors and otherwise ad­ ministers the program. The debtor may not incur any new debts without permission of the court but as long as he lives up to the court-approved plan his creditors may not bring gar­ nishment or wage-assignment proceedings against him or dun him for payment. If it should prove impossible for him to continue the plan, it may be converted into bankruptcy. MCC Assistant Dean Evaluates School Program Brian C. Koleto, assistant dean of instruction at McHenry County college, was a member of a team evaluating the oc­ cupational programs at DeKalb high school. The group, representing the Division of Vocational- Technical Education, spent four days in a thorough in­ vestigation of the programs, equipment and instructors at the high school. The evaluation took place from Feb. 19 to 22. ^3»cwiotetrttur s Ask L This column of questions and answers on federal tax matters is provided by the local office of the U.S. Internal Revenue Service and is published as a public service to taxpayers. The column answers questions most frequently asked by taxpayers. Q) May a commercial tax preparer sell information he obtains from a person's tax return? A) No. It is a misdemeanor for any person engaged in the business of preparing tax re­ turns, or providing services in connection with such a busi­ ness or for any person who re­ ceives compensation for filling out a return to disclose Fed­ eral tax return information or use it for any purpose other than to assist in preparing the return. Violations may be punished with a $1,000 fihe or a year in prison or both. Q) Why does this year's tax return ask taxpayers how many of their dependents filed returns or did not live with them at the end of 1972? A) To distribute revenue Cheery, Useful Plastic War# That Brighten Up Your Budget reserve the riahf in i;m:< .... ^fceseeefllr. ,He '° ,imil "uan»"ties. effective while quantities last. SI W'"~ Plastic Dish Drain Tray Parfact mate for dish drain- Size 16V4" x 14" Avocado or HaivasL 15 Qt. Plastic Wastebasket Wood grain texturwd sur­ face with Mediterranean design. Sculptured base Choice of colon. YOUR CHOICE our reg. 87* 15 Qt. Plastic Wastebasket Round basket has distinctive wood grain texture. Rein­ forced rim. Choice of deco­ rator colors. Plastic Dish Drainer Made of sturdy plas­ tic for years of use. Avocado or Harvest Size 13%" x 12%" x 4%". our reg. 1.17 Flip lock metal han­ dles. Dent-proof; sun­ proof; winter proof our reg. 4.47 plastic Avocado or Harvest 24 Gallon Trash Can HORNSBYS family centers 4400 W ROUTE 120 Plastic ^ •* Dust Pan /£, § Sturdy, hi-impact sty rene with high sides, deep dirt trap, clean •weep edge. wr reg. 37c UK fr mix w,?ay "charse Hold, Your Purchase. hon°r Master Charge Bank Americard. rV& • v *. sharing funds properly to States, counties, townships, and municipalities, the Federal Government must know how many people live in each place. Tax returns can count much of the population, but the Government must subtract from this amount anyone who should be counted somewhere else. That is the purpose of this question. Remember that dependent students who were away at school on Dec. 31, 1972, but who live with you when not at school, are to be considered as living jvith you at year's end. Q) I operate my own busi­ ness. Do you have a booklet that will help me fill out my business tax returns? A) Yes. IRS Publication 334, the 1973 "Tax Guide for Small Business," provides de­ tailed information on tax mat­ ters that may arise in setting up, operating, or disposing of a business, whether it is a sole proprietorship, partnership, or corporation. The booklet is available for 75 cents at IRS offices, U.S. Government Print­ ing Office bookstores and some post offices throughout the country. Q) Last year I paid $15 to have my tax return prepared. Can I deduct this amount on my 1972 income tax return? A) Yes. If you itemize your deductions, you may deduct expenses for tax counsel and assistance. Q) I earned more than $10,- 000 last year. Will the IRS still figure out my tax for me? A) Yes. If your adjusted gross income is $20,000 or less and consists only of wages or salaries and tips, dividends, interest, pensions, and annuities, the IRS will be •glad to compute your tax at your request. However, you must take the standard de­ duction instead of itemizing your deductions, fill in certain lines, and file your return by April 16, to have the IRS do the figuring for you. Be sure to read the instructions that come with the Forms 1040 and 1040A as to the lines that have to be completed.' Q) My tax return asks a question about foreign bank accounts. I don't have one. Do 1 still have to -answer the question? A) Yes. Just check the box marked "no" if during the year you had no interest or authority over a bank or other financial account in another country. Persons who did have foreign bank accounts during the year must complete and at­ tach to their return IRS Form 4683. Use the order blank on the back of your tax forms package to obtain a copy. New Kitchen Beauty WOMEN'S UTILITY OXFORDS 6.22 reg. 7.99 Any woman on her feet all day needs comfortable, hard-working shoes. White oxfords with super-thick cushioned insoles and support arches. Easy-care vinyl uppers. Lightweight crepe soles. Sizes: 5-10 MEN'S HEAVY-DUTY WORK OXFORDS 7.66 reg 9.49 Stuidy leather shoes for on the job. Geared to your comfort with thick, cushbned insoles, arch supports and padded tongues. Welted and oil-resistant soles. Sizes 6^-12. hornsbys DAILY 9-9 SUNDAY 9-6 4400 W. RTE. 120 McHENRY,.ILL. Todoj/s Heolth News Published by tht American Medical Association Today's lifestyle encom­ passes a vast amount of space, and since it's at a premium in the average home, this calls for maximum utilization. Various measures are avail­ able. One unique method is to use a decorative, metal cainister set, as shown above. These canisters can be filled with cookies, candies, or used as storage bins. Imaginative homemakers will find mul­ tiple non-kitchen uses for these. Made by J. L. Clark Manufacturing Company, Rockford, Illinois, the set is stylized with three dimen­ sional embossed sunflowers blooming against a cream background with covers of warm earthy shades of Spanish red and persimmon. A dull finish on heavy gauge construction with a concealed cover curl and bottom seam gives the look of porcelain. The individual canisters can also serve as attractive and useful gift containers. Tourist Attraction Slide Program For Gem-Mineral Meet An unusual slide program about places in Illinois that earn the state high ranking among America's tourist at­ tractions will be shown members and visitors of the Hiawatha Gem and Mineral society at 8:30 p.m. Tuesday, March 6 by Marv Monteyne of the Illinois Bell Telephone company. The program follows the regular meeting of the Hiawatha Gem and Mineral society which is scheduled to meet at 7:30 p.m. Both meeting and program are located in the second floor dining room at the McHenry West campus high school. Collections of members' minerals and fossils will be exhibited. Can a psychiatrist help people? . . . The answer is a re­ sounding "yes." It comes from Jack Weinberg, M.D., clinical di- ' rector of the Illinois Psychiatric Institute and professor of psy­ chiatry at the University of Illi­ nois Medical School. According to Dr. Weinberg, you don't have to be mentally ill, or even neurotic, t to benefit from psychiatric advice, any more than you have to be at death's door to benefit from an annual physical checkup. In fact, he says the healthier you are the easier it is for a professional to help you work your way free of troublesome hangups. Take the case of Susan, a young suburban wife and mother of three small children, whose hus­ band not only travels often but frequently works nights and week- * ends. Susan felt isolated, friend­ less, and imprisoned in thankless domestic routine. She lay sleep­ less at night, wept uncontrollably and was convinced that her "en­ trapment" had made her a "nerv- ' ous wreck." Susan finally went to a psy­ chiatrist, sure that she' was men­ tally ill. They talked for a little over an hour and Susan's prob­ lems were well on their way to being solved. She began to organ­ ize her work and her time and now was able to get out of the house more often. Sometimes, says Dr. Weinberg, all the process requires is a pa­ tient ear; a person with a prob­ lem needs the feeling that some­ body is willing to listen. It needn't take months or years and involve tremendous expense--just a little time. In fact, psychiatrists can cite numerous instances in which basically healthy people-- indivi­ duals who have long managed to live stable lives without giving in to crises--have actually gained strength and improved their lives by brief therapeutic help. "There is no doubt in my mind," says Dr. Weinberg, "that it would do tremendous good if people would come in before there is a crises; if they felt the freedom to do it and if society sanctioned the idea that there are places that you can go for help. Even if you are told when you get there that you shouldn't have therapy, it is a help." It's like knocking out an in­ fection with antibiotics before it gets out of hand. Woes of wearing panty hose... Panty hose and girdles have help­ ed induce vaginal infections in women -- vaginitis -- according to Frederick P. Zuspan, M.D., of the University of Chicago. Overt symptoms, which may first occur some time after the infection sets in, are unusual vaginal discharges and vulval itching. Dr. Zuspan advises that women with recurrent vaginitis consider eliminating panty hose because the organisms responsible for vaginal Infections often flourish in the warmer temperatures caused by form-fitting clothing. Dr. Zus­ pan also says that "the woman who takes tub baths and not showers has less vaginitis." The "art" of printing backward . . . It's peculiar to many young­ sters and known to produce anxi­ ety in parents and sometimes teachers. But it's nothing to be concerned with, says a committee of the American Academy of Pe­ diatrics. Young children often print letters backward, but with a little help most of them get their writing straightened around by the end of first or second grade. If your child has this problem, you should patiently and casually, without showing the least con­ cern, point out his mistakes and means of correcting them. The child should not be scolded or made fun of. And, says the com­ mittee, be sure also that he is allowed to write with whichever hand he prefers. Vitamin E deodorant . . . The vitamin that's been touted as sex pill and skin pill has reached the ultimate in commercial bravado-- it's now a deodorant, too; the im­ plication being, of course, that it's somehow better than all those other products on the market. It ain't necessarily so. Says TH, "According to the little evidence available, adding Vitamin E to a deodorant preparation makes lit­ tle or no difference in the final product." Deprivation can lead to retarda­ tion . . . Many a child who has been diagnosed as mentally re­ tarded, and under treatment for this condition, may actually be suffering from the "deprivation syndrome," according to Karl Evang, M.D., Director-General of Health Services in Norway. A baby is very highly sensitive, even from birth, to the events around him, explains the doctor. "If you place an infant in a lovely place, hygienic, with appropriate temperature, humidity and venti­ lation, he will still not develop normally if he is deprived of hu­ man contact." This includes skin contact. Says Dr. Evang: "If a mother cannot nurse, she should cuddle her child a lot and stimulate him frequently by taking him up often, showing him around to see different things, letting him feel that he is in the center." Write Todoy'i HeoWi Magazine Cf. 535 North Dearborn Street Chicago, Illinois 60610 DAILY 9-9 SUNDAY 9-6 ORNAMENTAL IRON Railings-Columns- Custom Fabricating Welding & Structural Frozen Pipe Thawing STEEL SALES ADAMS BROS. (Next to Gem Cleaners) 3006 W. Rte. 120 Phone: ^IcHenr^ 385-0783