Myth associated with filing bankruptcy


Financial loss and economic crisis is one of the major reasons for the increase in the rate of filing bankruptcy. Due to lack of correct information many people are harboring wrong notion regarding the after effect of filing bankruptcy. If you want to quench your thirst regarding your queries then this article can help you get a proper knowledge on filing bankruptcy.

Do not need to be a broke:
In order to file for bankruptcy you do not have to be a broke. But remember if you are financially well off then there is no need to file for bankruptcy. You might think that only an insolvent is capable of filing for bankruptcy. The bankruptcy code is not dependent upon you being penniless, homeless. But bankruptcy does not mean that you would lose your job or have to surrender your home or court would take possession of your home

Bankruptcy declaration might not disrobe you in public:
You might think that filing bankruptcy can strip off your reputation in public. But if you are not a celebrity then people would be hardly interested to read about a common man going bankrupt. If the bankruptcy papers are not sent to your work place then it won’t be that difficult to hide the filing from your employer.


You might not have to lose all your property:
There are numerous misconception associated with the after effect of filing for bankruptcy. You might not have to lose your right to ownership if you think of filing bankruptcy to remove your complete or fractional amount of debt. The state law also plays a key role on protecting your portion of property. The federal exemption law can be used as a protective measure to a certain value of the property. Under Chapter 7 Bankruptcy you are liable to keep all your assets. If you make the payment on right time for the assets like car and home then you can easily keep them.

Filing bankruptcy can’t stop you from buying a house:
If you have enough security deposit to give the lender then he won’t mind lending you money. The only criteria a money lender has is the security deposit against the cash and they charge high interest on the loaned amount. The bank can reconsider to grant a loan even after filing for bankruptcy if you make a sufficient amount of down payment.

Do not think that bankruptcy can stop you from getting credit:
Bankruptcy can never stop you from getting credit as there recent filers are on the target of the money lenders. You might have to pay comparatively high interest rate on the loaned amount. The interest rate won't be high if you can wait for two year after filing bankruptcy before applying for another loan.

More than half of your debt would be discharged:
The debts that you have burdened yourself with would decide whether all your debt would be discharged or not. There are low chances for debt like students loan, recent taxes, child support might not be eliminated. Discuss the nature of the debt that you have incurred with your bankruptcy lawyer so that he can suggest you some other alternatives.

So these are few myth that people tend to harbor but this article would have helped to throw some light to clear your misconception about filing for bankruptcy.
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How To Resolve Your IRS Tax Problem








Being a responsible citizens, you always try to pay your taxes regularly. But it has been found that several people face problems in paying their taxes from time to time. The amount that you pay as tax comes back to you in the form of your own monthly income and incentives. Hence, you must try to acquire relevant information associated with the tax payment in order to make regular tax payment without experiencing any difficulty. Internal Revenue Service or IRS tax problem is very common among the individuals. Knowing the different perspectives of the IRS taxes would let you know about the rights that you possess for negotiating on the amount that you need to pay.

Most of the people expect and wait for the IRS officials to come and make them aware of the various facts wrapped within the tax payment procedure. But for you information, they hardly care whether you know or not about it. The one and only responsibility of these professionals is to collect the tax payable. To help you out with the IRS tax problem that you face, several attorneys have come into focus. The attorneys are the ones who take the responsibility to make you aware of the multiple aspects of the IRS taxes that you pay.

Once an attorney proves your inability to pay the taxes, the IRS officials help you get your amount reduced to a certain level or increase the time range for making the payments. Thus, the attorneys are considered to be the best mediums for resolving the IRS tax problem, which you generally face.
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Importance of Annuity Rate for Pensioners








An annuity can be defined as a personal insurance policy enrolling to which will provide a regular cash inflow as soon as the scheme reaches its maturity level. The tenure till which an individual can enjoy the income through this scheme extends either to a certain limit or even for the lifetime of the policy holders. Most common ways of buying these policies are through cash or with the help of accumulated finance from your pension. The annuity rate, therefore, serves to be an essential factor that need consideration while you purchase a particular policy. The old people register to these annuity schemes as they desire to earn heftier amount in addition to their pension.

Buying an annuity policy with the pension amount ensures that after retirement the senior citizens would get a pension inclusive of the annuity amount. Hence, taking the annuity rate into account is one of the most essential steps for the insurance seekers. The pension plans that are generally availed by the old individuals provide numerous processes that could help them choose the sources offering best rates for these deals. While shopping for the best rates, you must try to find out the companies with A grade or even better.

It is essential to check the reliability of the companies offering the best annuity rate. This is mainly because an unstable company might not pay you the amount inclusive of the rate in case it goes bankrupt. In fact, in many cases, even the principal amount is not returned to the pensioners. Thus, you must be careful in selecting an appropriate company with proper pension annuity rate.

You are searching for best annuity rate that does not mean you should not focus on the stability and reliability of the companies offering it. Your enrollment to the scheme of a trustworthy company not only offers financial stability after your retirement, but also a sense of security even during the times of economic disturbances.
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Risk Management



Risk management is the detection, evaluation and assigning priorities to risk prior to organized and cost-effective implementation of resources to lessen, track and regulate the possibility and/or affect of untoward incidents. Risks can be generated by project failures, credit risk, legal obligations, insecurity in financial markets, mishaps, natural calamities and intentional attacks from an opponent. Various risk management benchmarks have been formulated such as the National Institute of Science and Technology, the Project Management Institute, ISO standards and actuarial societies. The explanations, techniques and objectives differ broadly in relation to whether the risk management technique is in the perspective of security, project management, industrial procedures, engineering, actuarial evaluations, financial portfolios and public health and safety.

Primarily, these tactics comprise the following factors, carried out, essentially in the following sequence:

* Detect, typify and evaluate risks
* Evaluate the susceptibility of vital assets to particular risks
* Ascertain the risk (the anticipated outcomes of particular forms of attacks on particular assets)
* Recognize means to minimize those risks
* Assign a priority to the risk minimization steps on the basis of a plan

The plans to handle risk consist of the process of transfer of risk to another party, risk avoidance, minimizing the harmful impact of the risk and acknowledging some or all the effects of a specific risk.

Methods of Risk Treatment
Following are the methods of risk treatment:

* Risk avoidance (elimination)
* Risk reduction (mitigation)
* Risk transfer (outsourcing or insuring)
* Risk retention (acknowledge and budget)

Domains of Risk Management
Following are the prominent areas of risk management:

* Enterprise risk management (ERM)
* Project management
Check : http://en.wikipedia.org/wiki/Risk_management


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