Common types of bankruptcy

 The two types of bankruptcy that are most commonly discussed are Chapter 7 and Chapter 13. The basic difference is that Chapter 13 bankruptcy involves repaying debts under the protection of the court, whereas Chapter 7 involves wiping out debts completely. In other words, Chapter 13 can include the reorganization of a business and its assets, whereas Chapter 7 means complete liquidation.

Reorganization bankruptcy

 A Chapter 11, 12 or 13 bankruptcy involves reorganizing debt. Small businesses that hope to continue operating often opt for a reorganization bankruptcy.  In this case, the debtor files a repayment proposal. Not all debts need to be repaid in full; in fact, some aren’t paid at all. Certain debts cannot be forgiven, though. These debts include child support, student loans (in most cases), tax debts (again, in most cases), debts for personal injury from drunk driving, fines and penalties from breaking the law.

Liquidation bankruptcy

 The liquidation bankruptcy involves turning over all personal property (with a few exempt items) to the court. The court then sells these assets, pays a portion of the debts, and the debtor becomes free of creditors. In order to declare Chapter 7 bankruptcy, the debtor’s income must be below the median income. Or, a debtor may be required to take a bankruptcy means test, proving that they have no disposable income for the debts. If any income can be applied to reducing the debt, the individual (or business) may have to file for a Chapter 13 bankruptcy.

Credit score

 A Chapter 13 bankruptcy will remain on a credit score for six years. However, if a debtor successfully follows the repayment plan, some of the creditors may grant credit again. Meanwhile, a Chapter 7 bankruptcy stays on a credit history for ten years. During that time, the debtor will probably be denied credit. Bankruptcies of both kinds have a lasting effect on credit score; however, having a poor credit score is better than remaining deeply in debt!

There are a number of other issues to consider when choosing which kind of bankruptcy is appropriate. Also, choosing what type of bankruptcy to file will involve long-term consequences. After filing, it is important to address the issues that led the debtor to bankruptcy. On a positive note, bankruptcy opens up the possibility of a new start, with an improved plan for financial stability and success.

To acquire the services of a lawyer without any trouble, you need to keep one on what is called a retainer. A retainer is a fee used to secure a lawyer’s services. Clients can pay a retainer to be sure that their lawyer is available whenever they are needed.

Clients can also pay attorneys on a case-by-case basis.  If you have a case you want a lawyer to take and think you only need them for a limited basis, it makes no sense to pay a long term retainer.

If you can’t afford a lawyer’s fees, consider creative ways to finance your case, such as personal loans from Plain Green Loans.  Do not let cost defer you from hiring a good lawyer. There are many benefits to securing a good lawyer.

Experience

Most good laywers will have plenty of experience. Experienced lawyers will know how to argue a case in a court of law if it’s needed. They will also be able to keep a case out of a court room by settling it before it can get to that point. Good lawyers have good negotiation skills.

Knowledge

Lawyers are going to be specialized in certain areas. There are special purpose lawyers, such as tax attorneys, divorce attorneys and criminal attorneys to name a few. Many good lawyers focus on one such area.  They will have a vast knowledge in whatever area they specialize in. They will also be very up-to-date when it comes to their specific areas of law. For instance, a tax lawyer would be very knowledgeable to new tax laws from year to year.

Personal Attention

A good lawyer will provide plenty of face-to-face meetings with their client. For a criminal case, public defenders are often overworked and have heavy caseloads. A good private lawyer will have adequate time and attention devoted to your case and your concerns. They will also have time to develop the case properly. Developing the case could involve requesting records, interviewing witnesses and conducting case studies.

There are many benefits to having a good lawyer. When seeking a good lawyer, do research and check with the Better Business Bureau to protect yourself.  Find a great lawyer that will take care of all your needs.

0516-lawyers (Photo credit: Rae Z)

Image from Flickr

The great news is that researching and finding a San Francisco personal injury attorney that’s a perfect fit for you and your legal needs is a breeze, as long as you have the right tools on hand.

From social media buzz to instant payment options, online outlets are making the hiring process completely seamless—not to mention instantaneous. Read through our best tips for choosing the best personal injury attorney online, and start planning your safe future right away.

Tweet, Text and Update Your Way to Counsel

Between Twitter, Facebook and LinkedIn, among countless other ways, we all like to connect with friends and loved ones electronically. It’s no surprise that securing a great team of legal professionals should happen the same way. In fact, word-of mouth advertising is the best way to find professionals you can trust and count on.

Focus Hyper-Locally

In the past, the best news sources came from daily papers from the nearest large city. Today, we have hyper-local news sites focused directly on our hometowns and small businesses. Take a look through the online legal directory of a few of these resources, and narrow down your search in seconds.

Reach Out Online

Since everyone is multitasking their way through a jam-packed schedule, it’s no secret that lots of professionals prefer to correspond through e-mail. Shoot over a few electronic notes to legal professionals you researched online, and you’ll have a great team on your side in an instant.

Now that you know how simple it can be to put together a contact list of smart and savvy legal professionals, there’s no excuse for burying your head in the sand about the future.

Ensuring your family’s well being in the event of a tragic accident or injury is as simple as a few clicks of your computer mouse. No one likes to think about accidents and personal injuries, but the reality is that planning for the best possible future requires every family to prepare for every possible scenario. Thankfully, the process is easy and stress-free with a little online assistance.

Image via Flickr

There are three communication tools that no small business owner should ever be without. Once you have mastered these forms of mobile communication, you will find yourself better equipped to take on the business world.

Online Faxing

Online faxing with Metrofax is an extremely important business communication tool for any business professional. If you deal in signed agreements, need to exchange documents that have handwritten notes on them, or need to find a way to get a document to someone that does not have access to the Internet, then online faxing is a tool you must have.

Any communication contingency plan that does not include online faxing is incomplete. You should never assume that everyone has (or wants to have) Internet access in the business world. Good planning means being ready for anything, and that is especially true with communication.

Email

There are several reasons why email is so important to the business world. The main benefit of email is instant communication at no cost. The savings over using standard mail postage rates and packaging up mail parcels is significant. You can send packages of documents instantly for free that could add up to hundreds of dollars a year in postage savings.

Another benefit of emailing is that it allows you a convenient way to track all of your online conversations. There is always a log of the emails you have sent and received for you to refer to when you are trying to trace the origin of a statement. You can also save your sent emails to confirm exactly what you said and when you said it.

Videoconferencing

Small businesses tend to have small travel budgets. That is why videoconferencing is so convenient for small businesses. You can have an entire face-to-face meeting with anyone in the world without ever leaving your office.

Another advantage of videoconferencing is that it allows you to improve your customer service levels. Rather than having your technical support people talk to your clients over the phone, you can use videoconferencing and show your customers how to solve their problems.

Communication is critical in business and small business owners need to be as versatile with their communication options as possible. By using email, online faxing and video conferencing, the small business owner can literally be two places at the same time.

Image from Flickr

Check Your Credit Score

How is your credit score? Your credit score will have an impact on what types of loans you’ll be eligible for and what interest rates you may secure. Your credit score can decide if you need collateral to secure the loan.

Research

There are many types of loans available online. These can range from online installment loans for emergency situations, such as cash advances for the family member who is in the Emergency Room or payday loans, and many more. Asking some questions can help you decide which loan is right for you.

How long do you have to repay the loan? If you need some quick cash for a minor emergency and need just a little time to come up with the money, consider a payday loan or cash advance. These types of loans were created for these types of emergency circumstances.

Compare Lenders

Once you decide which type of loan you need, you must sift through the plethora of lenders. After finding potential lenders, you have to narrow down the list to one. Start by researching each lender through the Better Business Bureau or the Consumer Federation of America. If you find nothing at either, a search in your favorite search engine can yield a lot of information.

Remember that a few negative comments are possibly the result of a bad experience, but multiple complaints raise red flags. Ask around about companies your friends or family may have used; personal references give the best and most accurate information.

Income versus Output

Before signing the dotted line on any loan, you have to really consider a few key things. Is the money you’re borrowing for something you need or something you want? That Mexican vacation may seem necessary, but it’s not nearly as important as paying off delinquent medical bills.

If you’re using collateral, consider what may happen if you default on the loan. Not that you would intentionally default, but with unemployment near ten percent, you have to consider the worst-case scenario. Home- or auto-secured loans can have detrimental consequences if payment isn’t made. In this economy, you should consider job security, raises versus inflation, and benefit expenses into your decision.

Online lending has revolutionized the borrower’s market and opened many doors for people who need a little extra help. Using common sense along with these tips will help you make the best decision.

What other things should one consider when getting loans online? Share your thoughts in the comments section.

Image via CrunchBase

It’s a Public Space

You’re probably thinking, “Youth today just don’t understand that social media is a public space. If you didn’t put embarrassing photos of yourself up, then there wouldn’t be problem.” To a point you are right — young people do often post embarrassing (potentially drunken) pictures of themselves online and they shouldn’t. However, for the most part, people seem to have an intuitive grasp of what is — and is not — acceptable social media interaction, at least with each other, that adults simply lack. Therefore, allow me (as a member of the “under 30″ generation) to give you some basic pointers that the youth in your life will thank you for.

1. Practice Restraint: For some reason many adults (including my grandmother) seem to think it’s acceptable to go through your page and “like” or comment on everything. So, let me just tell you, that’s not OK. It’s fine to congratulate someone for an accomplishment, but try to reel in your enthusiasm.
2. Know Who You’re Talking To: Under no circumstances should you like or comment on a wall post of one of your child’s friends if you do not have a personal relationship with the post’s originator. If you know them it’s probably fine, but one of the most common online manners breach is, “your mom (grandma) ‘liked’ my wall post and we’ve never spoken… It was very awkward!”
3. Only Offer Encouragement: It’s also never a good idea to rebuke your child on Facebook. Remember, this is a public space. You wouldn’t yell at your child (or young adult) in the middle of a crowded mall so don’t do it in front of their 300 closest friends! For example, my cousin likes to play casino games online. When he posted about his winnings (clearly happy about them) his dad made a detracting comment, creating an unnecessarily hostile situation.

Image via Wikipedia

Communication Is Key

This may sound obvious but: talk to your child! find out what embarrasses them (or their friends) and then don’t do it! Most kids understand that all you want is to connect with them, keep up with their news when they leave the house, and to simply be a part of their lives. So, communicate and follow the rules your child gives you so that you don’t get banned!

Unfortunately, the majority of the private information requested on the typical job application is a necessity. However, you should always take the time to inquire how the company is protecting your identity – even if you’re handing your application to the manager in person. In fact, it’s even recommended to walk in and ask if your application is still on file a couple of weeks after sending it in just to make sure it hasn’t been lost. Always keep in mind that there are plenty of other legitimate opportunities out there, especially if an application is asking you to surrender more information than you feel comfortable with.