Tags |
|
|
Links |
|
|
Suggest You - IVA vs Bankruptcy - The Facts You Need to Know
Would you ask an unsuccessful person how to become more successful? Or ask a friend with a run-down car what the best vehicle is on the market? I would think not.So, it is suffice to say that you shouldn't ask a fellow retailer who is struggling with their business technology where to get software technology from. In more cases than one, you'll find they got software that didn't suit their needs, and have a retail service provider who isn't helping them succeed.Having the right technology is one thing. Having a good retail technology partner who knows retail and backed by an excellent support team is quite another. These two things go hand-in-glove.These service providers, or "Value-added Resellers" (VARS), are a key factor to helping a retailer boost efficiencies and increase profits. They will help a retailer make the right business decisions on technology and ensure that the technology they chose fits their business needs.A retail technology partner should know retail, not just retail technology. When choosing a VAR, look for these key factors:* Retail experts able to consult with you about your needs and who help you with making the right technology choice.* Retail sales consultants wh
The IVA option.
What is an IVA?
An IVA is an alternative to bankruptcy. An IVA, or Individual Voluntary Arrangement, is a private, legally binding agreement between you and your creditors. An IVA enables you to offer your creditors a structured repayment program over an agreed time period, which is normally 5 years. The IVA repayments are based on your disposable income (i.e. how much you can actually afford to pay back each month once your essential living expenses have been deducted). The IVA is proposed to your creditors through an insolvency practitioner, who acts on your behalf by seeking a vote of acceptance for the IVA from your creditors. It is necessary to achieve acceptance from 75% of your creditors before the IVA can be considered binding on all of them. Once accepted, an IVA protects you from your creditors taking legal action, and also protects your assets from being seized by your creditors. Any outstanding balances on your debts that still remain at the end of the IVA will be written off by your creditors.
In an IVA, what happens if you own your home?
An IVA protects you from having to sell your home, but you will be required to release available equ
Co-branding involves combining two or more brands into a single product or service. Companies engage in co-branding to leverage strong brand. It is becoming a popular business practice to strive for a positive association between different brands that can develop synergy. A well executed co-branding strategy can lead to win-win situation for both co-brand partners and can help in realizing unexplored markets or untapped opportunities. Concisely, it is instrumental to handle almost every marketing matter from creating initial awareness to building customer loyalty.Companies form co-branding alliance to fulfill following goals:► Expanding customer base ► To make financial benefits ► Respond to the expressed and latent needs of customers ► To strengthen its competitive position ► Introduce a new product with a strong image ► Creating a new customer perceived value ► To gain operational benefitsCo-branding is a frequently practised in fashion and apparel industry. Some of the examples of co-branding are between Nike – Phillips (Electronics Manufacturer) and Adidas -Porsche (car manufacturer). Co-branding can be used for promotion campaigns, to
This is one of the most important questions facing people with serious debt problem, and to be honest, it can be an extremely difficult question to answer.
In my position as a debt adviser, specialising in IVAs, I believe helping a person understand how their personal circumstances will affect the suitability of each solution, either an IVA or Bankruptcy, remains crucial to helping someone decide on how best they can move forward.
So, here are the facts, in plain English, which you need to know before you can decide which option, be it an IVA or Bankruptcy, is most suitable for your circumstances.
The Personal Bankruptcy Option.
What is bankruptcy?
Well, being bankrupt is: "when a person is declared in law to be unable to pay outstanding debts".
(It is also known as being insolvent.)
What you can expect to happen
After the court has issued a bankruptcy order against you, you will be interviewed by the Official Receiver. If you have any assets, you may also be interviewed by a Trustee in Bankruptcy and your assets will then be sold by the Trustee in Bankruptcy. The money from the sale of your assets will be used to settle your outstanding debts, however, all the costs and fees of the bankruptcy process will be paid out of these funds before the creditors receive any settlement, or dividend payments. If you can afford to make monthly payments to the Official Receiver from your income, you will be expected to make these payments for three years. If the Official Receiver thinks you can afford to make payments, and you refuse to agree, he can obtain a court order to make you do so. The Official Receiver can also make your employer deduct the payments from your salary. The Official Receiver has considerable power, and your failure to cooperate could result in a warrant for your arrest, or public examination in front of a judge. The Official Receiver has the power to reverse any sale of assets where they are deemed to have been sold for less that their true value, and if it is believed the transaction defrauded creditors, there is no time limit as to how far back in time the Official Receiver can go.
What assets will be sold in Bankruptcy?
Any equitable interest with a saleable value which you own, i.e. properties, cars, caravans, properties abroad, time share, luxury goods, stocks, shares, investments and other valuable assets. If you own a part share of an asset, for instance a house, the ownership of your share passes to the Official Receiver. If you cannot arrange for a third party to buy your share of the equity, the Official Receiver can force the repossession and sale of it. If this asset is your home, you will be forced to move out.
Will Bankruptcy clear all my debts?
No. Bankruptcy will not clear any secured debts you may have. Also student loan company debts, fines, council tax arrears and family court orders for maintenance will not be included in a Bankruptcy.
What savings can you keep in Bankruptcy?
Pensions are generally protected in a bankruptcy, but savings, shares, investments and equity in property will lost to the Trustee.
What assets can you keep in Bankruptcy?
The trustee will generally allow you to keep a modest motor vehicle and any tools required for you to earn an income.
What other assets can you keep in Bankruptcy?
The trustee will generally allow you to keep your ordinary household contents, i.e. Tv, stereo, computer, sofa, washing machine, etc.
What about working whilst in Bankruptcy?
You retain the right to earn an income, but the effect Bankruptcy has on your position within a business depends on your occupation. If you hold a professional license, your regulatory body will need to be informed which may result in a suspension of your license. If you are a director of a business you will be required to resign your directorship and if you hold shares in the business they will be sold. If you are in a partnership, your fellow partners will be required to buy out your interest in the business. If you are a sole trader, you can continue to trade, but you will not be able to have any credit agreements with suppliers above ?500. If you are employed, you bankruptcy ought to have no effect on your right to work, however, if your occupation involves handling money and dealing with finances, your future employment will be at the discretion of your employer.
What about your privacy in Bankruptcy?
Because a Bankruptcy is a court process, details of which are in the public domain, your bankruptcy will be published in the press which may appear in a local newspaper.
What else could happen whilst in Bankruptcy?
If you receive an increase in income or inherit money from a deceased relative's estate, or enjoy a windfall like a lottery win, you will be obliged to inform the Official Receiver and make the money available to your Bankruptcy estate.
How long will my Bankruptcy last?
Your Bankruptcy will last for 12 months, after which time you will receive an automatic discharge. However, in cases where it is judged the debts were incurred through irresponsible or excessive spending you could be held bankrupt for a maximum of 15 years.
The IVA option.
What is an IVA?
An IVA is an alternative to bankruptcy. An IVA, or Individual Voluntary Arrangement, is a private, legally binding agreement between you and your creditors. An IVA enables you to offer your creditors a structured repayment program over an agreed time period, which is normally 5 years. The IVA repayments are based on your disposable income (i.e. how much you can actually afford to pay back each month once your essential living expenses have been deducted). The IVA is proposed to your creditors through an insolvency practitioner, who acts on your behalf by seeking a vote of acceptance for the IVA from your creditors. It is necessary to achieve acceptance from 75% of your creditors before the IVA can be considered binding on all of them. Once accepted, an IVA protects you from your creditors taking legal action, and also protects your assets from being seized by your creditors. Any outstanding balances on your debts that still remain at the end of the IVA will be written off by your creditors.
In an IVA, what happens if you own your home?
An IVA protects you from having to sell your home, but you will be required to release available equi
The success of a website is possible only with the right promotion of the site. There are numerous steps that can be adopted to promote the site like using social networking. With social networking, it is very easy to increase traffic as you get to reach clients and users you may not have been able to reach otherwise.Search engine optimization (SEO) is very effective in increasing traffic to a site as it provides searches using keyword tags which make surfing easier to the searcher. You can pull in traffic to your site when searches related to your field are done. Banners are also great in promoting your website. Banners of your sites, when placed on other websites give links to your site.Using bulk emails can generate traffic if used properly. So do some research on bulk emails for them to work legally as you wouldn’t want to be ignored for spam mail, or be targeted for spamming. You have to send bulk email to people interested in acquiring information about products or services related to your website so that you generate traffic to your website.With the help of the right keywords, you can generate ample traffic to your site. searches are conducted using keywords; so use words that are similar to the meanin
What assets will be sold in Bankruptcy?
Any equitable interest with a saleable value which you own, i.e. properties, cars, caravans, properties abroad, time share, luxury goods, stocks, shares, investments and other valuable assets. If you own a part share of an asset, for instance a house, the ownership of your share passes to the Official Receiver. If you cannot arrange for a third party to buy your share of the equity, the Official Receiver can force the repossession and sale of it. If this asset is your home, you will be forced to move out.
Will Bankruptcy clear all my debts?
No. Bankruptcy will not clear any secured debts you may have. Also student loan company debts, fines, council tax arrears and family court orders for maintenance will not be included in a Bankruptcy.
What savings can you keep in Bankruptcy?
Pensions are generally protected in a bankruptcy, but savings, shares, investments and equity in property will lost to the Trustee.
What assets can you keep in Bankruptcy?
The trustee will generally allow you to keep a modest motor vehicle and any tools required for you to earn an income.
What other assets can you keep in Bankruptcy?
The trustee will generally allow you to keep your ordinary household contents, i.e. Tv, stereo, computer, sofa, washing machine, etc.
What about working whilst in Bankruptcy?
You retain the right to earn an income, but the effect Bankruptcy has on your position within a business depends on your occupation. If you hold a professional license, your regulatory body will need to be informed which may result in a suspension of your license. If you are a director of a business you will be required to resign your directorship and if you hold shares in the business they will be sold. If you are in a partnership, your fellow partners will be required to buy out your interest in the business. If you are a sole trader, you can continue to trade, but you will not be able to have any credit agreements with suppliers above ?500. If you are employed, you bankruptcy ought to have no effect on your right to work, however, if your occupation involves handling money and dealing with finances, your future employment will be at the discretion of your employer.
What about your privacy in Bankruptcy?
Because a Bankruptcy is a court process, details of which are in the public domain, your bankruptcy will be published in the press which may appear in a local newspaper.
What else could happen whilst in Bankruptcy?
If you receive an increase in income or inherit money from a deceased relative's estate, or enjoy a windfall like a lottery win, you will be obliged to inform the Official Receiver and make the money available to your Bankruptcy estate.
How long will my Bankruptcy last?
Your Bankruptcy will last for 12 months, after which time you will receive an automatic discharge. However, in cases where it is judged the debts were incurred through irresponsible or excessive spending you could be held bankrupt for a maximum of 15 years.
The IVA option.
What is an IVA?
An IVA is an alternative to bankruptcy. An IVA, or Individual Voluntary Arrangement, is a private, legally binding agreement between you and your creditors. An IVA enables you to offer your creditors a structured repayment program over an agreed time period, which is normally 5 years. The IVA repayments are based on your disposable income (i.e. how much you can actually afford to pay back each month once your essential living expenses have been deducted). The IVA is proposed to your creditors through an insolvency practitioner, who acts on your behalf by seeking a vote of acceptance for the IVA from your creditors. It is necessary to achieve acceptance from 75% of your creditors before the IVA can be considered binding on all of them. Once accepted, an IVA protects you from your creditors taking legal action, and also protects your assets from being seized by your creditors. Any outstanding balances on your debts that still remain at the end of the IVA will be written off by your creditors.
In an IVA, what happens if you own your home?
An IVA protects you from having to sell your home, but you will be required to release available equ
Do you know most Internet Marketers fail to make money online because their sales page lack of certain tiny things? It does not take a rocket scientist to figure out how to convert your sales page into a money making machine.Here are 4 tips to increase your sales page conversion:-1) If you plan to make money online selling software products, always give away a free demo that becomes increasingly useless over time.Take WinZip, for example; if you don't purchase the full version, it slowly takes longer and longer to use it. This is a good model for demo software products. Only give out a limited product that becomes less useful over time without the upgrade. If your software is good and people just love using it, they will definitely upgrade it thus make money online for you just like that.2) If you list the benefits of a given product, you will want to use good images as bullet points.For instance, using clear, fast-loading check marks or "x" marks can significantly improve your sales page conversion rate. Additionally, you will want to pay attention to the colors you use. Red and blue usually work best. By doing this simple trick will easily make money online for you as your sales page looks more
Will Bankruptcy clear all my debts?
No. Bankruptcy will not clear any secured debts you may have. Also student loan company debts, fines, council tax arrears and family court orders for maintenance will not be included in a Bankruptcy.
What savings can you keep in Bankruptcy?
Pensions are generally protected in a bankruptcy, but savings, shares, investments and equity in property will lost to the Trustee.
What assets can you keep in Bankruptcy?
The trustee will generally allow you to keep a modest motor vehicle and any tools required for you to earn an income.
What other assets can you keep in Bankruptcy?
The trustee will generally allow you to keep your ordinary household contents, i.e. Tv, stereo, computer, sofa, washing machine, etc.
What about working whilst in Bankruptcy?
You retain the right to earn an income, but the effect Bankruptcy has on your position within a business depends on your occupation. If you hold a professional license, your regulatory body will need to be informed which may result in a suspension of your license. If you are a director of a business you will be required to resign your directorship and if you hold shares in the business they will be sold. If you are in a partnership, your fellow partners will be required to buy out your interest in the business. If you are a sole trader, you can continue to trade, but you will not be able to have any credit agreements with suppliers above ?500. If you are employed, you bankruptcy ought to have no effect on your right to work, however, if your occupation involves handling money and dealing with finances, your future employment will be at the discretion of your employer.
What about your privacy in Bankruptcy?
Because a Bankruptcy is a court process, details of which are in the public domain, your bankruptcy will be published in the press which may appear in a local newspaper.
What else could happen whilst in Bankruptcy?
If you receive an increase in income or inherit money from a deceased relative's estate, or enjoy a windfall like a lottery win, you will be obliged to inform the Official Receiver and make the money available to your Bankruptcy estate.
How long will my Bankruptcy last?
Your Bankruptcy will last for 12 months, after which time you will receive an automatic discharge. However, in cases where it is judged the debts were incurred through irresponsible or excessive spending you could be held bankrupt for a maximum of 15 years.
The IVA option.
What is an IVA?
An IVA is an alternative to bankruptcy. An IVA, or Individual Voluntary Arrangement, is a private, legally binding agreement between you and your creditors. An IVA enables you to offer your creditors a structured repayment program over an agreed time period, which is normally 5 years. The IVA repayments are based on your disposable income (i.e. how much you can actually afford to pay back each month once your essential living expenses have been deducted). The IVA is proposed to your creditors through an insolvency practitioner, who acts on your behalf by seeking a vote of acceptance for the IVA from your creditors. It is necessary to achieve acceptance from 75% of your creditors before the IVA can be considered binding on all of them. Once accepted, an IVA protects you from your creditors taking legal action, and also protects your assets from being seized by your creditors. Any outstanding balances on your debts that still remain at the end of the IVA will be written off by your creditors.
In an IVA, what happens if you own your home?
An IVA protects you from having to sell your home, but you will be required to release available equ
The information in this article is an updated and expanded version of Various Ways People Are Making Money on the Web article. Some of these you may or may not have heard of, there should be something here to give you an idea to look into. The budget requirements can be very small to almost nothing with the below methods. There are also free trials that can get you started without spending money upfront. You will need to check with your city, county, state, and federal government bodies on licensing requirements for what you are interested in.Affiliate marketing is growing very quickly. There is no need to inventory products or deliver to the customer. Usually signing up with a company is free. You then promote their products through your website(s). Finding a product or service that interests you is key to working the program. The company that you are signed up with keeps track of all your sales through tracking software or another company that specializes in affiliate tracking will do it for them. After a sale you will get paid usually monthly but sometimes twice a month, depending on the company. The percentage of the sale that is paid out varies widely and should be researched and compared to other affiliate programs in
What about your privacy in Bankruptcy?
Because a Bankruptcy is a court process, details of which are in the public domain, your bankruptcy will be published in the press which may appear in a local newspaper.
What else could happen whilst in Bankruptcy?
If you receive an increase in income or inherit money from a deceased relative's estate, or enjoy a windfall like a lottery win, you will be obliged to inform the Official Receiver and make the money available to your Bankruptcy estate.
How long will my Bankruptcy last?
Your Bankruptcy will last for 12 months, after which time you will receive an automatic discharge. However, in cases where it is judged the debts were incurred through irresponsible or excessive spending you could be held bankrupt for a maximum of 15 years.
The IVA option.
What is an IVA?
An IVA is an alternative to bankruptcy. An IVA, or Individual Voluntary Arrangement, is a private, legally binding agreement between you and your creditors. An IVA enables you to offer your creditors a structured repayment program over an agreed time period, which is normally 5 years. The IVA repayments are based on your disposable income (i.e. how much you can actually afford to pay back each month once your essential living expenses have been deducted). The IVA is proposed to your creditors through an insolvency practitioner, who acts on your behalf by seeking a vote of acceptance for the IVA from your creditors. It is necessary to achieve acceptance from 75% of your creditors before the IVA can be considered binding on all of them. Once accepted, an IVA protects you from your creditors taking legal action, and also protects your assets from being seized by your creditors. Any outstanding balances on your debts that still remain at the end of the IVA will be written off by your creditors.
In an IVA, what happens if you own your home?
An IVA protects you from having to sell your home, but you will be required to release available equ
"Arghh!!"Karen, ground her teeth as she looked down at her desk. Instead of the draft report she had expected when she got back from her meeting, there was a note from Ted. "I've still got some issues on the report," the note said. "I don't want to show it to you until it's ready."Karen pushed back her chair and stood up. She paced back and forth in her cube, gesturing with her hands even though no one was there.The final version of the report was due to her boss, "The Field Marshal," on Monday. She would look terrible if the report was either late or not up to her boss's high standards. Karen figured she was way too new in her position to risk looking bad.She looked up, a little surprised to realize that she had walked the length of the corridor while she was thinking. She always did that when she was upset or excited. Walking just seemed to make her feel better.She was going to need some help and she figured the best shot was one floor up. Karen climbed the stairs and headed toward a cubicle with the light on.Trying to appear casual, she draped herself over the cubicle wall and addressed the occupant. "Got a sec?""Sure, pull up a chair and unload."Karen dropped into
The IVA option.
What is an IVA?
An IVA is an alternative to bankruptcy. An IVA, or Individual Voluntary Arrangement, is a private, legally binding agreement between you and your creditors. An IVA enables you to offer your creditors a structured repayment program over an agreed time period, which is normally 5 years. The IVA repayments are based on your disposable income (i.e. how much you can actually afford to pay back each month once your essential living expenses have been deducted). The IVA is proposed to your creditors through an insolvency practitioner, who acts on your behalf by seeking a vote of acceptance for the IVA from your creditors. It is necessary to achieve acceptance from 75% of your creditors before the IVA can be considered binding on all of them. Once accepted, an IVA protects you from your creditors taking legal action, and also protects your assets from being seized by your creditors. Any outstanding balances on your debts that still remain at the end of the IVA will be written off by your creditors.
In an IVA, what happens if you own your home?
An IVA protects you from having to sell your home, but you will be required to release available equity from it via a re-mortgage. If you have part ownership of your home, you will only be required to release the proportion of your part of the equity a re-mortgage will allow. The IVA protects you from having to sell the property.
What assets will be sold as part of your IVA?
An IVA allows you to keep all your assets intact, although if you own a valuable asset that is not essential to your livelihood, i.e. a caravan, a second property or an expensive motorcar, you may be required to replace it with a more modest vehicle and give the balance of money to your IVA fund.
How will an IVA affect my savings?
Generally your pension will be protected, and modest contributions can continue to be paid in to it during your IVA. It is possible to exclude assets from your IVA but you will be required to inform your insolvency practitioner of any savings, stocks, shares and other investments you may hold.
What other assets can I keep whilst in an IVA?
All personal possessions and household contents will be protected in the IVA.
How will an IVA affect my work?
An IVA is not Bankruptcy, therefore you are able to continue as a director in a business. Also professional license holders are able to continue practicing. Partnerships can also continue to trade, and because the IVA is a private agreement, your employer will not be informed.
How will an IVA affect my privacy?
The details of your IVA are not published in the press, however they will be held on the IVA register which is a public record.
What other effects will my IVA have?
You will be required to inform your insolvency practitioner of any inheritance or good fortune gains like a lottery win, and these funds will be made available to your IVA fund. Your finances will be subject to an annual review by your insolvency practitioner for the duration of your IVA and adjustments to your IVA payment will continue to be based on affordability.
How long will an IVA last?
An IVA can vary in length from 1 payment to 60 payments, but a standard IVA will last for 5 years.
What debts will an IVA clear
Your IVA will clear only your unsecured debts, e.g. personal loans, credit cards, catalogues and overdrafts. However, an IVA will not clear secured debts, fines and family court orders for maintenance.
What happens after my IVA finishes
You will be debt free. You will receive a certificate of completion from your insolvency practitioner, and you should inform the relevant credit reference agencies, e.g. Experian or Equifax, of the successful completion of your IVA for them to update your credit file.
As you can now see, the IVA is a real alternative to Bankruptcy.
An IVA is not an easy solution, and neither is it always a 'better' solution, but if you are in any doubt which option you ought to be pursuing, take the time to do your homework. There are specialist companies available that dedicate their services to helping you make this decision.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.suggestyou.com/article/100314/suggestyou-IVA-vs-Bankruptcy--The-Facts-You-Need-to-Know.html">IVA vs Bankruptcy - The Facts You Need to Know</a>
BB link (for phorums):
[url=http://www.suggestyou.com/article/100314/suggestyou-IVA-vs-Bankruptcy--The-Facts-You-Need-to-Know.html]IVA vs Bankruptcy - The Facts You Need to Know[/url]
Related Articles:
Does Your Small Business Need A Facelift?
Franchise Business-Being Successful
Bookmark it:
|