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While it is true that most of the foreclosures happening in the United States were caused by substandard mortgages, and/or the fact that many people have lost their jobs and can no longer make payments, there is also another reason for the foreclosure rate. Many people have filed for bankruptcy due to medical bills piling up.

This happens when the insurance company does not pay for the cost of care which has been rendered, and the patient simply can’t pay the bill and has no choice but to file for bankruptcy, and in doing so they often end up losing their home along with all their other financial problems.

Even though ObamaCare health care insurance proposal is making its way through Congress, for some people it will already be too late. The number one cause of bankruptcies in the United States is from medical bills that the patient can’t pay. Continue reading ‘Medical Bankruptcies Continue to Surge Amidst the ObamaCare Proposal’ »

Declaring bankruptcy does not need to define you or your financial future. Before filing Chapter 7 bankruptcy, make sure you consult with a bankruptcy attorney well versed in bankruptcy law. Select a firm that can guide you through this difficult process and help you rebuild for the future.

Bankruptcy Can Be A New Beginning

We all fall on financial hardships. But life can and will go on. Regardless of what caused your financial predicament, a bankruptcy attorney can help you understand your rights and limitations with your current creditors, and advise you on which steps to take to re-established your credit, including:

» Getting and using credit cards

» Applying for a new home mortgage

» Financing a new vehicle

Why You Need A Credit Card: Obtaining a credit card and using it responsibly is one of the fastest ways to rebuild your credit.

Facts About Your Current Credit Cards: Credit cards carrying a balance during the time of filing Chapter 7:

o You must declare the full amount.

o The balance will be factored into your overall debt.

o Failure to disclose this information is illegal.

» If you have a zero balance at the time you file Chapter 7:

o You can continue to use your card

o You are not required to disclose your bankruptcy status to creditors.

o If creditors discover that you have filed for bankruptcy, they can exercise their right to revoke your card

o Some creditors will retain your business provided you enter into a new, more restrictive contract. Continue reading ‘Life After Bankruptcy and Coming Back Stronger Then Ever’ »

We often think of the effects of bankruptcy in terms of financial and lifestyle changes. Its effects extend well beyond the financial, however: bankruptcy can be a very stressful experience, not just for those filing but for their families. By working with a lawyer, you can reduce the negative effects of bankruptcy on your family.

Although some people think of bankruptcy as an embarrassing experience, a “mark of shame,” in reality bankruptcy is something that can unexpectedly affect even the most ‘money smart’ individuals. The economy is more volatile than it has been in years, with more people filing than in years past. It provides a route for people who are struggling with heavy debt to negotiate a way out of their debts, rather than trying to tough it out as the situation gets worse.

Nonetheless, filing for bankruptcy does require temporary lifestyle changes. It may be necessary to create a strict budget or to give up certain luxuries you enjoyed before. This can be stressful for parents and children alike, but always remember that family matters more than creature comforts. Once your financial health is restored, however, you will find you appreciate those luxuries even more, and now have a restored sense of financial responsibility and self-determination. Continue reading ‘Bankruptcy and Your Family’ »

Car leasing can have many advantages, both financial and practical, over actually purchasing a brand new vehicle. So what are those advantages?

If you buy a car you pay the same price whether it is used everyday or just occasionally whereas leasing deals can be structured on the miles that can be driven. If you intend to use the car only occasionally you pay monthly leasing charges relevant to a lower mileage. Likewise, if you are going to make a lot of use of the car you can opt to pay for a higher mileage. Whatever you choose, the cost of leasing will be directly relevant to the actual use you make of the vehicle. This means that your monthly payments could be up to 60 per cent lower than if you were paying off a car loan.

The down payment on a leasing contract is usually less than that of a car loan. Some leasing companies do not require any down payment though this is rare, though obviously if you pay a deposit it will make lessen the leasing charges you have to find each month. Another alternative to making a down payment on your lease is to trade in your old vehicle. Continue reading ‘What Are the Advantages of Car Leasing?’ »

Even though the economy has become less than desirable on most fronts, there is one area where sales continue to rise. Companies report sustained income through the areas of extended warranties, service contracts and software updates. These add on products can provide needed revenue and the potential to make your company recession proof.

The secret to long term success is to help your customers keep the application or program running smoothly, selling them updates which provide an ongoing revenue stream. Improving service renewal rates means monitoring how people are using your product and making sure it continues to meet the needs of your customers.

The Service Contract Industry Council estimates that consumers will spend over $8 billion this year on extended warranties for products such as computers, other electronic items and appliances. Increasing attach rates will not only give your company an immediate cash boost, but if managed properly those maintenance and service contracts can lead to repeat business turning your customers into the kind of repeat buyers that are the backbone of any sound business enterprise.

The case is similar with service maintenance agreements sold with new software programs. These offerings are becoming increasingly popular as companies continue to look for ways to cut costs because of the tight economy. The result is often that you should offer licensing rights to your software or application in addition to options that include technical support, maintenance and overall warranty coverage. Continue reading ‘Grow Revenues Through Increased Attach Rates and Improved Service Renewal Rates’ »