Bankruptcy

Social Networking, Meet Billable Hours

18/07/2011
By
social networking

If you’re a lawyer and you’re playing it by the book – like we all know that you are – then there are long, seemingly interminable stretches of your life lived in six-minute increments. The ticks of the clock are both a thorn in your side and a nugget of gold in your (or your firm’s) pocket. The sense of a higher moral obligation and service to your community and fellow humans may leave you inclined to argue that clockwatching is not part of your game plan, and every conceivable minute logged is used serving the needs of your client. And, that’s all very noble. No one is accusing you of padding the bill. Besides, more and more alternatives to billable hours have been emerging since the recession as a way to cut costs. Nevertheless, even the noblest of attorneys may not be able to resist the siren song...

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Common Tax Deductibles for SEO Consultants and Webmasters

01/06/2011
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Along with working from home (or a home office) and getting to be your own boss, one of the other advantages of being an SEO consultant or website owner and administrator is that you are classed as self-employed or a sole proprietor, a freelancer or a contractor. Though this brings it’s own share of headaches when it comes to accounting and also brings its own special taxes such as Self-Employment Tax, working for yourself also brings its own fair share of things that are tax deductible when it comes to filling out that dreaded tax return. Depending on your specific type of business there are plenty of deductibles that only you and your accountant will be able to work out, so it is worth talking with your accountant as soon as your business is up and running. In the meantime however this article will take a brief look at...

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The Top 5 Reasons to File for Bankruptcy

27/04/2011
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No one really wants to file for bankruptcy. It’s not fun and it doesn’t feel good to have to admit that you simply don’t have the money to pay your debts. However, in spite of the fact that it may not be an enjoyable experience, it’s also one which is extremely important and which can provide some real and tangible benefits to those who do it. Here are five great reasons why you may want to consider declaring bankruptcy: It Will Get the Creditors Off Your Back While it is possible to file a cease and desist letter to get collection agencies to stop calling you all day long, the reality is that doing so doesn’t mean that you don’t owe the money anymore. You still owe all the money and the collection agencies, now deprived of their most potent weapon in the effort to make you pay up...

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Should I choose an IVA or bankruptcy?

17/03/2011
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A lot of people who find they have no way of repaying their unsecured debts in full face a choice between an IVA (Individual Voluntary Arrangement) and bankruptcy. Both forms of insolvency can help to free struggling borrowers from unmanageable debt problems, but there are key differences between the two that you should understand before you go any further. IVA: how it works An IVA is an agreement with your unsecured lenders in which you’ll repay as much of your unsecured debt as you can over an agreed period of time – usually five years. During this time, you’ll make regular monthly payments towards your debts, based on what you can afford after your other essential expenses have been covered. In return, you’ll be protected against any further action regarding your debts, as long as you keep up with the agreement. On successful completion of your IVA, any unsecured...

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Tricks to combat impulse buying

16/03/2011
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Think before you buy. Easier said than done really. As most people find the urge to splurge quite hard to resist. Impulse buying is a dangerous habit and is the cause of needless debt. So how exactly do we avoid this trap when we are but mere humans, constantly subject to sale posters and marketing ploys? 1. Stay at home. Avoid going to the mall after school or at work. Unless you really have to, never step foot in a shop. And should you find yourself in one, shorten your stay and stop mindless loitering. Clearly tell yourself that you are perhaps just there to browse and NOT TO BUY. Believe me, you won’t die if you don’t buy anything at all despite what your emotions tell you. You’ll find yourself with heaps of regrets when you are unable to commit to just browsing. If you do see something you...

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How To Avoid Insolvency

07/03/2011
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The following is a guest post by Mark, who writes on behalf of ClearDebt.  ClearDebt provide advice on IVAs, including comparing an IVA, bankruptcy and other Debt Management solutions. Personal insolvency is the umbrella term for any circumstance where an individual has insufficient money available to make their loan repayments as they fall due. It’s a precarious position to find oneself but has become increasingly common over recent years, with over 135,000 individual insolvencies in England and Wales during 2010 alone. Insolvency is not the same as bankruptcy and although insolvency may lead to bankruptcy, there are usually alternatives available to those who find themselves insolvent. These include Administration Orders, Individual Voluntary Arrangements, and Debt Relief Orders. If you’re facing insolvency it’s important to seek advice at the earliest opportunity and to pursue the most appropriate resolution before your creditors take the matter into their own hands and a...

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How You Can Avoid Bankruptcy

20/02/2011
By
banckrupty

Do you know there are many Americans filing for bankruptcy? To many it seems the easiest way out of debt, but it can really hurt the future credit and livelihood of anyone who files for it. When a person files for bankruptcy it can haunt them for nearly 10 years or more. This means buying a new home or car may never be in the future for a person filing for bankruptcy. So, why are so many Americans filing for bankruptcy? It could be because there is less of a negative attitude towards this particular debt solution; therefore, more and more Americans are filing. However, this is a false attitude as bankruptcy still carries all of negative side effects it did in the past. A person should not file just because the rest of America is doing so. Another reason people may decide to file for bankruptcy is they...

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Top 5 Free Online Money Management Tools

15/02/2011
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Today with the economy being the way it is, everyone is trying to make his or her money stretch as far as possible. To help you manage your finances there are some good free money management tools available online. Yodlee Yodlee MoneyCenter is an online management tool that has been around for a long time. It is easy to use and has a colorful dashboard with everything you need right at your fingertips. This is innovative software that can do many things including track all of your account balances and track what you spend. You can create a budget and set up alerts to let you know when something has been posted. GnuCash GnuCash Money Management Tool can be used for both small businesses and personal use. It tracks all of your finances including income, expenses and bank accounts. This software works on all platforms including Windows, Mac OS...

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Top High Profile Bankruptcy Filings In Recent Times

24/01/2011
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bankruptcy filing

Some of the biggest companies and best-known brands in the world have been reported as filing a bankruptcy at one time or other. Sadly, in the recent recession, many of America’s most respected household names have been the subject of much public scrutiny for filing a bankruptcy under the laws of chapter 11. The largest case of filing a bankruptcy in the history of the United States is that of Lehman Brothers, listing over $600 billion in assets. The company was reported as filing a bankruptcy under chapter 11 laws on September 15, 2008. Its bankruptcy severely affected the U.S. economy, and drew severe criticism over the exorbitant wages that were paid to executives even when the company was in preparation for filing a bankruptcy. Shortly after this case of a major corporation filing a bankruptcy, another household name, this time Donald Trump, was the subject of headline news...

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HAMP Still Not Performing as Projected

23/01/2011
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Reports out of the Congressional Oversight Panel have indicated that the HAMP (Home Affordable Modification Program) project has not lived up to expectations. The program, which began in March of 2009, when the Obama Administration published the Making Home Affordable (MHA) Program, gave mortgage services the tools necessary to begin defaulted loan modifications in the hopes that borrowers will still be able to maintain their homes without the threat of bank foreclosure hanging over their heads. The HAMP report has shown that nowhere near as many home owners as projected received, or will receive, help through the program. HAMP was formulated as a direct result of the Bush administration’s TARP (the Troubled Asset Relief Program) that was in enacted in 2008. TARP was put into action because of the problematic circumstances that US financial systems were facing. The objective was to bail out large companies, which were approaching or...

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