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Write You - What You Need to Know When Considering Bankruptcy
When prospective employees are being interviewed, they are asked about their past employment. But they are usually asked about what they did. These answers may be shaded to reflect a well..... favorable impression. Sometimes the answers won't be truthful. Don't you really want to know how well they are going to
What’s the difference?
There are considerable differences between the two forms of bankruptcy filing, and the difference can add up to thousands of dollars. With a Chapter 7 bankruptcy filing, the debtor has all of his or her assets, except for those which are exe
For many of us playing lotto, scratching money tickets and hoping for some kind of miracle is part of a daily ritual. If you get shown a business opportunity you may try it for a few months and if it does not work, even if others are making a very well living at it, we say it just does not work- it’s a scam! You ask Rick
Just what has changed?
Perhaps the biggest change that was instituted in the world of bankruptcy laws is the introduction of a two part means test. The results of this means test are used to determine which of the two forms of bankruptcy the individual must use.
The first part of the means test uses a formula to find out if the individual can afford to pay at least 25% of the non-prioritized unsecured debt that is owed. This non-prioritized unsecured debt includes debt such as credit cards. The formula takes into account and exempts necessities like food and rent, but it can be fairly restrictive.
The other part of the new means test is to compare the income of the bankruptcy filer to the median income for his or her state. Those who are found able to pay back at least 25% of the unsecured debt they owe, and whose income exceeds the state median, will be required to file for bankruptcy under the more restrictive Chapter 13 law, and they will be ineligible for the more generous rules of a Chapter 7 filing.
What’s the difference?
There are considerable differences between the two forms of bankruptcy filing, and the difference can add up to thousands of dollars. With a Chapter 7 bankruptcy filing, the debtor has all of his or her assets, except for those which are exem
I used the word develop, not write on purpose in the title of this article. While your Operations Manual, Ops Manual, is a crucial tool in your Internal Management tool kit, you don't really write it.Instead you collect it. You gather in one place lots of the bits of information your business depends on to run smo
Just what has changed?
Perhaps the biggest change that was instituted in the world of bankruptcy laws is the introduction of a two part means test. The results of this means test are used to determine which of the two forms of bankruptcy the individual must use.
The first part of the means test uses a formula to find out if the individual can afford to pay at least 25% of the non-prioritized unsecured debt that is owed. This non-prioritized unsecured debt includes debt such as credit cards. The formula takes into account and exempts necessities like food and rent, but it can be fairly restrictive.
The other part of the new means test is to compare the income of the bankruptcy filer to the median income for his or her state. Those who are found able to pay back at least 25% of the unsecured debt they owe, and whose income exceeds the state median, will be required to file for bankruptcy under the more restrictive Chapter 13 law, and they will be ineligible for the more generous rules of a Chapter 7 filing.
What’s the difference?
There are considerable differences between the two forms of bankruptcy filing, and the difference can add up to thousands of dollars. With a Chapter 7 bankruptcy filing, the debtor has all of his or her assets, except for those which are exe
Let's imagine a situation where we have two Internet marketers who know each other. One has a great product that will sell very well but he has no mailing list, no affiliates, nothing. The other is a great marketer with tens of thousands of subscribers in his mailing list, but the problem is he has nothing to sell to the
The other part of the new means test is to compare the income of the bankruptcy filer to the median income for his or her state. Those who are found able to pay back at least 25% of the unsecured debt they owe, and whose income exceeds the state median, will be required to file for bankruptcy under the more restrictive Chapter 13 law, and they will be ineligible for the more generous rules of a Chapter 7 filing.
What’s the difference?
There are considerable differences between the two forms of bankruptcy filing, and the difference can add up to thousands of dollars. With a Chapter 7 bankruptcy filing, the debtor has all of his or her assets, except for those which are exe
Who would never want for his product to be optimally available to all people who have the access to where it was published? Of course, all businessmen would prefer for an optimized way of letting their products widely known. Not only it brings a lot better way of advertising your product, it practically ensures a high
What’s the difference?
There are considerable differences between the two forms of bankruptcy filing, and the difference can add up to thousands of dollars. With a Chapter 7 bankruptcy filing, the debtor has all of his or her assets, except for those which are exe
You can have the best product in the world, but if it’s sitting down in your basement in the dark it will fail. The old adage of “invent a better mouse trap and people will beat a path to your door” no longer applies – if it ever did.The hard facts of life are that if you want to succeed you have to be a marketing
What’s the difference?
There are considerable differences between the two forms of bankruptcy filing, and the difference can add up to thousands of dollars. With a Chapter 7 bankruptcy filing, the debtor has all of his or her assets, except for those which are exempted by the state, liquidated, and the proceeds are used to pay off the creditors. If the amount of debt exceeds the proceeds of the assets, the remaining debts are cancelled, leaving the creditors holding the bag.
With a Chapter 13 bankruptcy filing, on the other hand, the debtor is required to complete a court mandated payment plan, lasting up to five years. Any debts that have not been repaid by the end of that predetermined period are cancelled.
As you can see, the Chapter 13 bankruptcy filing is quite a bit more restrictive, and it typically means that a greater percentage of the total debt must be repaid. It is important for any debtor considering a bankruptcy filing to look at his or her own situation, and apply the means test to determine which filing status he or she is likely to fall into. Being an informed consumer has never been more important.
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