November | 2015

Bankruptcy – Should You File and What Are the Benefits? By Vengile Conway | Submitted On March 23, 2015 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on FriendFeed Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Vengile Conway Bankruptcy is a very delicate subject for most people. It’s senseless for anyone to feel ashamed to file for chapter 7 or chapter 13 bankruptcy when most of us have also made bad choices at one time or another. Everyone deserves a 2nd chance in life and filing bankruptcy can offer you exactly that. Bankruptcy is a legal status for a person or business that can’t pay off unsettled debt. This is something that only a state or federal court can determine. Most people don’t want to file for bankruptcy and see it as a last resort for options. Bankruptcy will allow an individual to wipe out “most of” or “all of” their debts. Here are some reason why someone would file for bankruptcy. 1. Stop Foreclosure 2. Prevent Repossession of an Automobile 3. Lower debt 4. Eliminate debt 5. Stop wage garnishment Before you file get prepared I’m going to give you some good advice and what you’ll do with it is totally up to you. Before you file, you’ll most likely have to obtain credit counseling within 180 days. You’ll need to receive the credit counseling from an “approved provider” listed on the US courts website. You’ll need to talk to a lawyer who will help you file and walk you through the entire process. Filing can cost $700-$2500 or even more depending on where you file. Most of the time, your attorney will have information about the credit counseling programs and the list of “approved providers.” How long will it take to recover? In most cases bankruptcies will stay on your credit report for 7-10 years, there are many things you could do to start improving your credit after you file. Chapter 13 Bankruptcies- You might be able to land a conventional loan two years after a Chapter 13 discharge. FHA and VA loans are even more tolerant. Chapter 7 Bankruptcies- you’re typically looking at a four-year wait for conventional loans and a two-year wait for either FHA or VA financing. Auto mobile financing is pretty simple to obtain these days but your IR will be very high and your payment won’t be pretty either. What types of bankruptcies are available? Most of the time you will only hear of chapter 7 and chapter 13 bankruptcy. Although chapter 7 and chapter 13 are some options available there are four other options as well. Chapter 9: Chapter 9 may only be applied to municipalities such as cities or towns and allows for their reorganization. This is most likely something you will never hear of again. Chapter 11: Chapter 11 is the third most common type of bankruptcy filing, with 1,757 filings in 2011. This chapter is almost always used to reorganize businesses but may be used by individuals as well. If you own a business, you might want to consider filing a chapter 11. Chapter 12: Chapter 12 is used exclusively to adjust the debts of a family farmer or family fisherman. Chapter 15: Chapter 15 applies to cross-border cases, in which the debtor has assets and debts both in the United States and elsewhere. I hope this article gave you some understanding of the options that you have and also helps you find the right attorney to help you with your filing. Bankruptcy Attorney in Lansing Michigan Article Source: http://EzineArticles.com/?expert=Vengile_Conway

Bankruptcy is a very delicate subject for most people. It’s senseless for anyone to feel ashamed to file for chapter 7 or chapter 13 bankruptcy when most of us have also made bad choices at one time or another.

Everyone deserves a 2nd chance in life and filing bankruptcy can offer you exactly that.

Bankruptcy is a legal status for a person or business that can’t pay off unsettled debt. This is something that only a state or federal court can determine.

Most people don’t want to file for bankruptcy and see it as a last resort for options. Bankruptcy will allow an individual to wipe out “most of” or “all of” their debts.

Here are some reason why someone would file for bankruptcy.

1. Stop Foreclosure
2. Prevent Repossession of an Automobile
3. Lower debt
4. Eliminate debt
5. Stop wage garnishment

Before you file get prepared

I’m going to give you some good advice and what you’ll do with it is totally up to you. Before you file, you’ll most likely have to obtain credit counseling within 180 days. You’ll need to receive the credit counseling from an “approved provider” listed on the US courts website.

You’ll need to talk to a lawyer who will help you file and walk you through the entire process. Filing can cost $700-$2500 or even more depending on where you file. Most of the time, your attorney will have information about the credit counseling programs and the list of “approved providers.”

How long will it take to recover?

In most cases bankruptcies will stay on your credit report for 7-10 years, there are many things you could do to start improving your credit after you file.

Chapter 13 Bankruptcies- You might be able to land a conventional loan two years after a Chapter 13 discharge. FHA and VA loans are even more tolerant.

Chapter 7 Bankruptcies- you’re typically looking at a four-year wait for conventional loans and a two-year wait for either FHA or VA financing.

Auto mobile financing is pretty simple to obtain these days but your IR will be very high and your payment won’t be pretty either.

What types of bankruptcies are available?

Most of the time you will only hear of chapter 7 and chapter 13 bankruptcy. Although chapter 7 and chapter 13 are some options available there are four other options as well.

Chapter 9: Chapter 9 may only be applied to municipalities such as cities or towns and allows for their reorganization. This is most likely something you will never hear of again.

Chapter 11: Chapter 11 is the third most common type of bankruptcy filing, with 1,757 filings in 2011. This chapter is almost always used to reorganize businesses but may be used by individuals as well. If you own a business, you might want to consider filing a chapter 11.

Chapter 12: Chapter 12 is used exclusively to adjust the debts of a family farmer or family fisherman.

Chapter 15: Chapter 15 applies to cross-border cases, in which the debtor has assets and debts both in the United States and elsewhere.

I hope this article gave you some understanding of the options that you have and also helps you find the right attorney to help you with your filing.

Getting Equipment Finance For Businesses

Have you tried running a business? It’s a hard job, isn’t it? If you have experience in this area, you might have already understood the function of finance. There isn’t any business out there that can roll or expand without money since there are certainly a lot of things to spend for in the business.

Money to spend for business is still a major concern of people. Entrepreneurs have recognized the role of planning so that money won’t so much become a problem. Getting loans for equipment finance purposes is all too tempting and many companies do this. What is great about this method is that, you know how much you are going to pay for several months or a couple of years maybe. The amount of money for amortization is the same month after month so there is no problem in issuing checks for the repayment of the equipment loan.

Having money allows a business to be more flexible and more people are looking for companies to give them adequate equipment financing. This is the reason why so many of these businesses are able to obtain new equipment, pay for overhead expenses or other things.

What makes these loans more attractive is due to the fact that there are online applications for people to use and they don’t have to wait in long queues to hand in their applications. The proper type of loan is available and clients are given coaching on what to do. This is so unlike the manner of most banks where you have to wait for a long time for approval and in the end, they may choose not to approve your application. Owners of small businesses stand with lesser chances of loan approval from banks and this has made them lose faith in the banking system. Banks on the other hand do not want to risk their money on small businesses because there is a greater percentage of having a bad credit case due to the erratic income of the self-employed sector.

Thus, the borrower obtains better advantage by obtaining the money needed to run the business. What these borrowers like about applying the equipment finance strategy is that, they can buy the right equipment and won’t have to settle for those with lesser quality.

It is vital that you create a list of equipment you would need and their suppliers. Make a comparison of the prices given by these suppliers for used and new equipment. Equipment financing can pay for your computers and other apparatuses. No matter how small or large the equipment is, there is a corresponding loan what would solve the requirement for the business. To be successful in making the business run, you need the help of machines. People will appreciate if you are using quality equipment and thus, will give more trust to you and even recommend your business to others.

Financing offers the payment terms that’s convenient for you, so that you would be able to play your resources and apply them for other things as well.

Don’t Invalidate Fire Insurance

Don’t invalidate your fire insurance policy.

I find this a very strange case but it just shows how important it is to read the small print as if you ignore the conditions of the policy your policy could be invalidated.

In this case it was a condition of the FIRE insurance that the SECURITY Alarm was maintained and monitored. Times had been tough for the insured and he let the maintenance of the security alarm lapse and as the ARC had not been paid for 6 months they stopped monitoring the site.

Vandals broke in and set fire to the factory. It was a furniture company and they incurred losses of over £750,000.

The case went to the High Court, the judge had nothing but sympathy for the Directors of the Company and he took ‘no pleasure’ in ruling that as it was a condition of the combined insurance policy that alarm was to be monitored by an external firm, the Insurers did not have to meet the claim.

There are often conditions attached to the insurance policies we take out which relate directly to the risk. We need to make sure our cars have valid MOTs in order not to invalidate the policy. We are required to notify the insurance company if we get a speeding fine but, to my mind oddly, you do not have to tell them if you decide to do the Speed Awareness Course rather than pay the fine.

I have just come across a case, now in front of the insurance Ombudsman, where an insurance company voided the policy and returned all the premiums because the policy holder had unwittingly exceed the value of the ‘valuables’ within their contents insurance. They had insured the contents of their house for £60,000 but there was a clause stating that the value of the valuables should not exceed 66% of this.

They had to rush their daughter to hospital, and while they were out the thieves struck taking goods and damaging the property to the value of £70,000. When assessing the claim the loss adjusters calculated that the value if the valuables in the house exceeded £40,000. Normally claims would be ‘averaged’ to reflect the under insurance, but the insurance company in this case argued that the under insurance voided the policy. As I said this case is in front of the ombudsman as I write.

Back to case in hand where a fire insurance claim was dismissed as a security alarm and monitoring were allowed to lapse. Clients of ours run a hotel and there is someone on reception all the time so if the fire alarm is activated there was always someone on duty to respond. We came round to the time when the annual contract with the ARC [monitoring station] needed to be renewed. The Hotel Manger wanted to cancel it as it was considered an unnecessary expense. I said I agreed but asked him to check with his insurers to make sure they had no objections. The Insurers confirmed; monitoring was a condition of the policy.

Often with in the insurance policy there is a clause that the fire alarm is maintained in accordance with British Standards. It would be interesting to know whether a similar claim has been dismissed as the Fire Alarm has not been adequately maintained.

Auto Sales Training: Business Advantages of a Car Sales Course

Auto sales training is normally carried out in-house, but there are many business advantages to be gained from an external car sales course provided by a specialist training company. Whether it is for your staff or yourself, such courses can offer more than just how to deal with prospective customers. Here is a quick resume of how such a course can benefit you or your sales staff.

Learn the Business

Experienced sales staff can recognize a stroker or flake almost immediately they walk on the lot, but do you even know what these terms mean? Most people learn how to sell cars and talk to potential buyers on the job. However, comprehensive auto sales training will accelerate this learning process and get you selling more cars faster.

Yes, experience is invaluable, but even experienced sales personnel benefit significantly from a structured training course where their skills can be fine-tuned to maximize conversions. It also helps to understand the psychology of the prospect. Most will be looking for a bargain, and will walk into a dealership expecting to pay less than the MSRP.

How to Approach Prospects

The way you approach a prospect on the lot can make or break a potential sale. Too pushy and you might scare them away. Too hesitant, and you might fail to make the sale. Some people need to be talked into buying a car while others prefer to walk around themselves until they see something they like.

A car sales course can show you how to identify each type of prospect, and how to approach and talk to them in a way that gains their confidence. Some customers might try to hide the fact they like a particular car by pointing out its faults. If you know how to spot these prospects, you can more easily talk them into buying.

Technical Aspects of Auto Sales Training

All car sales staff should understand every aspect of buying and selling cars, including essential financial and technical details. You or your staff must be aware of all the financing deals available on every car on the lot, details of insurance and any local or state regulations regarding car purchase and finance.

Servicing and warranties are two critical aspects of selling a car. Most car courses will show you that these two factors can make the difference between clinching a sale and the prospect walking off to look elsewhere.

You must also understand the common aspects of each car you are trying to sell: engine capacity, horsepower and even its state of repair. You should also know how a hybrid works, and the difference between diesel and gas engines. Which is ultimately most economical and which type of engine gives most power, what type of car is best for long distance driving and which is best for town. If you display such knowledge then potential customers will come to trust you more.

Keep Current with a Car Sales Course

Times change and so does the knowledge of potential buyers. Prospects today are more aware of your sales tactics than they used to be, and it is a must for you to be aware of this. They are also more aware of what to look for in used car, and how to spot frame damage. In order to become a truly successful car salesperson, you must be prepared for the common and not so common questions that you may be asked.

You must keep also up with changes in legislation, insurance and finance. It is highly likely your customer will have researched finance options in particular, and also ask questions about service and warranties. Auto sales training will likely show you how a lack of knowledge of warranties and service agreements can stop a sale stone cold dead.

A car sales course will teach the most common, and some not so common, reasons for you failing to persuade a prospect to buy. This itself will improve your sales figures, and keep in mind that just one extra sale will likely pay the cost of such courses.

How to Make Annual Travel Insurance Work for You

Holidays used be a luxury: generations ago, the idea of crossing nations was intimidating for its expense and difficulty, while the concept of crossing oceans was only possible for the lucky few. Nowadays, packing your bags for a trip is almost an expectation for many middle-class families, and the travel industry is booming.

The need for travel insurance has grown as well and, while many travel now and then, there some families and individuals who can afford regular trips. If this is the case for you and your family, you need to consider how to make annual travel insurance work for you.

Choose the right provider

The first step is probably the most obvious. Choosing the provider of your policy comes with its own set of expectations, including reliability, efficiency, and, of course, value for money. But picking an annual travel insurance policy from the plethora of companies flooding an already bursting market can seem daunting. The key is to focus on the quality of a provider’s guarantees, matched with the openness and simplicity of their plans. Solid, small and reliable firms are usually backed up by larger insurers, and offer plans which, while simple to quote and easy to book online, always come with a clear explanation of exactly what you can expect if you plan your regular trips. Choose wisely, and whether you’re heading off to Spain on short weekend trips or have a few conventions to cover in Ireland over the summer, you know you have a policy you can trust.

Choose the right plan

Even the smallest providers will offer a range of plans. It’s not always a simple matter of narrowing down a number of annual travel insurance plans offered by a few companies and going with your gut instinct. The intelligent way to make your plan work for you is to ensure you only pay for what you need. Year-round cover varies, and whether you are a businessperson, family, couple, or individual will, along with other factors, affect the efficacy and cost-efficiency of your plan. Checking the fine print will save you from paying for things you might never need.

Choose the right extras

The nature of annual travel insurance means that it’s is based on the rather pessimistic premise of portentous injury, accidents or loss of valuables. But even if the best-case scenario occurs and you never need to make a claim, a policy can be made attractive with some potential extras. Free cover for children, cover for cruises or golf equipment, 24 hour emergency contacts and other perks can make your plan work for you all the harder even harder – and save you money!