Tips to Find a Good Bankruptcy Lawyer Who Will Provide the Necessary Legal Services

Bankruptcy is quite a serious matter and there is nothing worse for an individual or a corporation than having to file for bankruptcy. It can affect many people and ruin their careers and lives and render them completely helpless. The very word bankruptcy means a legal state of being unable to repay debts that one owes to the creditors. It is also sometimes referred to as insolvency. It can happen to both individual and organizations. Creditors will normally file a bankruptcy petition in an endeavor to recover a part of the money payable to them by the company or organization when bankruptcy happens to an organization. When it happens to an individual then they get buried in so much debt that they find it impossible to recover from it, and have no other option but to file for bankruptcy.

Therefore, whether it happens to an individual or an organization, it is absolutely necessary to seek the services of a bankruptcy lawyer who is well acquainted with bankruptcy law and will be able to shield you against the petition filed by the creditors. The bankruptcy lawyers are quite expensive and they will only render their services once you convince them that it is possible for you to bear their fees, and pay them on time. But since they are expensive and since your entire financial future depends on their expertise you should be careful as to whom you hire and follow some guidelines while looking for a good bankruptcy lawyer.

The first step in hiring a bankruptcy lawyer is to look for an experienced lawyer who has the necessary expertise to handle any kind of bankruptcy. Remember that your future is in the hands of this individual who will represent you in the court of law. It is their knowledge and expertise which will determine how your case unfolds in the court and what is your chance of winning the case.

It will be prudent to do some background research before you hire an expensive bankruptcy lawyer. Ask your colleagues, friends, neighbors, or any of your acquaintances who have gone through the same ordeal or knows someone who have required the services of a bankruptcy lawyer. Internet search can also throw back results about the lawyers in your location and their specialties. Yellow pages can also be a good source from where you can get hold of a lawyer. Any bankruptcy lawyer that is working in your area should be listed there and hence as per your requirements you can get the contact details of such a lawyer. Just look into the bankruptcy section and you will immediately give a list of all bankruptcy lawyers in your area.

Once you have listed the lawyers in your area, it is time for some background checks on the list and then pick one from the list. Through the internet, it is easy to get information on the lawyers and their case histories, their success rate, and client feedbacks. You can also ask for a review on the lawyer you are interested in, by calling up the court and asking them for a review. You will also be able to check which bankruptcy lawyer has the majority number of winning cases. Also important is to find out which bankruptcy lawyer has the maximum experience of working in your area and the local court, because that will mean that the particular lawyer will have good rapport with the court officials. Hiring lawyer who has a winning streak but belongs to another state is a bad idea, because laws change from one state to another and a lawyer who is working in another state may not be successful in your state, as he won’t have enough information to fight your case.

A consultation session is a must once you have shortlisted two or three lawyers. You can always cal up and request them to meet you for a consultation session. These sessions are usually free of the lawyers’ billing time. If a lawyer demands money for this session, it will be best to avoid that lawyer. This session will be the deal maker, and will certainly help you make that final decision regarding which lawyer is best suited to fight your case.

The current world is dominated by credit card users, and people fall into debts because it is difficult to keep a check on the spending for most people who enjoy the good life. But the result can be huge debts which have led to the increase in bankruptcy petitions which in turn has resulted in an increase in demand for bankruptcy lawyers. The above tips can be used as a guideline for finding the right lawyer as there are risks for a lay person without any knowledge of legal matters to bump into a money grabbing legal monster who is only interested in making a few extra bucks while offering poor legal services in return.

Using Bankruptcy Medical Bills To Your Advantage

Nowadays, medical treatments are priced five times more than they are used to be, even when you acquire them in the less expensive and less popular hospitals. Although people tend to avoid going to hospitals as much as possible, especially those who are without health insurance, there are circumstances that still lead them to the hospital doors. If truth be told, filing for bankruptcy medical bills is not a bad thing. In fact, it is considered to be an ideal financial option for those who are unable to pay their medical bills. Here’s how you can make the most out of bankruptcy.

Tip #1- Ask for the detailed hospital expenses. Even in the age of computers, it is still possible to make mistakes. Hence, it is important to ask for an itemized list of your hospital bills. This way, you can ensure that you’re paying only for the medical treatments that you have been given. You can also reduce the cost that the government has to pay once you file for bankruptcy.

Tip #2- Don’t be hesitant to ask for help. People tend to be scared of filing for bankruptcy. What they don’t know is that it is one of the best options when you’re faced with steep medical bills. You will no longer have to work on being qualified for various organizations and charity cases. In fact, you will no longer have to dread picking up the phone or receiving letters from the hospital or your creditors. Once you file for bankruptcy medical bills, most of your debts will be cleared, allowing you to live with a clean slate once again. However, it is important that you ask for advice and assistance from bankruptcy lawyers. They can help you keep the bankruptcy process as smooth-sailing as possible. They can also help you determine the right steps to take after bankruptcy has been filed.

You don’t have to be afraid of bankruptcy medical bills. It is a good option to turn to when you’re unable to pay hospital bills.

Navigation After Financial Closure – Bankruptcy Personal Loans

Bankruptcy has a stigma attached to it that is hard to eradicate. Is that what you really think, then you need to rethink. Just because you have filed for bankruptcy does not mean you do not have a right to a solid financial status again. Bankruptcy is as much deserving of a personal loan for refinancing, consolidation of debts, mortgaging or any kind of personal loans. However there is no doubt bankruptcy is not the most wanted thing on your credit report. The aftermaths of bankruptcy are many and they can stay to as long as ten years. But still the changing trends have given way to a more lithe and sympathetic approach towards bankruptcy personal loans.

But you have already heard enough about getting bankruptcy personal loans. There are enough people who have been advertising for bankruptcy loans therefore it becomes highly bewildering whether it is possible to have a bankruptcy personal loans or not. Bad credit, no credit has still got an option but what about the condition where the credit is completely damaged. Bankruptcy is one such stipulation. There are chances that the bankruptcy loan offer might turn out to be a scam. You have to shop carefully before pouncing on a particular bankruptcy personal loan. There are very few bankruptcy personal loans that are actually viable. But this certainly does not mean that the market is deprived of any lenders whatsoever for bankruptcy personal loans.

As a bankrupt, you must understand that finding a loan immediately after bankruptcy is frequently unworkable. Bankruptcy personal loan lenders usually want to see that you have spent a minimum of two years after your bankruptcy in improving your credit status rather than borrowing more money. However, I must add that there is still scope for you to have a bankruptcy personal loan within a year of your being declared a bankrupt. You might be surprised to know that some people have managed to get a bankruptcy personal loan even one day after a bankruptcy discharge. You are required to know a few things that are essential for your path to credit recovery and access to your very own bankruptcy personal loan.

First and foremost try to pay on time on the items that were not discharged in bankruptcy like home and car. Doing timely payments on at least some of the items of credit will certainly go a long way in improving your credit status. The next good thing to execute will be to limit your credit limit on other loans such as credit cards and bank loans. This is important because too much credit will go against you in the bankruptcy loans market. It will be difficult for you to get bankruptcy personal loans with too much revolving credit like credit cards. Your debt-to-income ratio will play a momentous role in determining your ability to repay your bankruptcy personal loans.

It is important for you to realize that all the necessary documents should be organized before you apply for bankruptcy personal loans. Documents such as pay slips and tax returns are generally required to establish your capability in repaying the loan. The information provided on your credit report will be checked for accuracy. You must avert from giving any information that can be disputed. Removal of any inaccurate information will certainly provide a favourable debt to income ratio and make you qualify for bankruptcy personal loans easily.

A person beseeching bankruptcy person loans will be offered a sub prime loan also known as B, C, or D loan. This grading implies how lenders rate your loan application. The loan applications are graded from A to D in the order of decreasing hierarchy. Grade A application gets the best interest rates. D rating implies bankruptcies or foreclosure on their credit report. Remember that bankruptcy personal loans are usually small and taken to re-establish credit. The interest rates on bankruptcy personal loans are conventionally, higher than A grade loan applications. But do not let the loan lender bait you into giving astronomically high rate of interests, just because you have filed for bankruptcy.
Bankruptcy personal loan can be taken for any reason like education, home improvement, and medical costs. Taking bankruptcy personal loans and making regular payments will unquestionably improve your credit status. Usually the loan lender won’t be very concerned about the reason for which you have applied for a loan. All he will be anxious about is your status as a loan borrower. You can gain financial freedom by having the perfect personal loan after bankruptcy. It will not only furnish you financial freedom but also provide you the confidence to lodge yourself again in the loan market.

With 1.6 million bankruptcies a year you are probably not the only one with this problem. Applying for a personal loan after bankruptcy can be a very demanding experience. It has already been exhausting for you, the whole bankruptcy process. But a little bit of patience will certainly go a long way in germination bankruptcy personal loans for you. Bankruptcy can not be regressed but taking bankruptcy personal loans will certainly open more vistas for you in the financial context. The ramifications of bankruptcy are far reaching. You did not choose to be bankrupt but you can certainly rebuild your life after that. Bankruptcy personal loans are certainly well equipped to traverse your financial distress.

Can You Avoid Bankruptcy? Tips on What You Can Do To Avoid Filing Bankruptcy

If you are on the brink of filing bankruptcy and need a way out, there are other options that may be available to you. This article can offer more information and tips on what you can do to avoid filing bankruptcy.

If you can avoid filing bankruptcy, you should. A bankruptcy can seriously affect your ability to get loans and credit for the next seven to ten years. Here are a few other options worth exploring, as well as a few tips on avoiding bankruptcy.

Debt Consolidation
If you are overrun by a number of bad debts, you may want to consider getting a debt consolidation loan. This loan can give you the money you need to consolidate all of your debt into one low monthly payment. This will make your bills much more manageable and allow you to start over with a relatively clean slate.

Credit Counseling
When you get behind on your bills, it is easy to feel overwhelmed. Though filing for bankruptcy may seem like the easiest option, it may not be the best. If you want to avoid filing bankruptcy, try credit counseling instead. Professional credit counseling services can review your situation and give you advice to help you turn things around.

Tips on What You Can Do To Avoid Filing Bankruptcy
In addition to debt consolidation and credit counseling, there are a few other things you can do to avoid filing bankruptcy:

· Try settling your debts. Some creditors may be willing to accept less than what you owe.

· Tighten your belt. Skip the morning coffee, disconnect the cable, clip coupons, and use any money you save to pay off your debts little by little.

· Filing for bankruptcy isn’t free. You’re going to need to save up or get an extra job. Consider using the money you have and the additional money you could earn to begin paying off the bills instead.

The Process of Budgeting at Many Institutions of Higher Education Needs to Change

Refinements and Improvements to the Annual Budget Process

Due to the economic challenges many institutions of higher education are facing today, and the need to do more with less, budgeting is clearly a very critical item on the agenda. Addressing the problems associated with the budget process and having people working together towards common goals and results is a top priority. And if Budgeting is a Financial Application, why are 90% of user’s non-financial people?

It is not uncommon for the faculty and staff at an institution of higher education to view the budget process as something that is being “force-fed” from Finance. In order to improve this process, an interface for the faculty and staff should be developed and utilized that “walks them through” the budget process in such a manner that will be simple and yet very powerful. What would be helpful is the flexibility to budget the way they think about their areas of responsibility and allows them to budget on course with the strategic plan of the institution, including full disclosure and documentation of how and why they need what they are asking for in their budget.

Additionally, it is not uncommon for the Finance Department to be under staffed, or be lacking in the resource capabilities to manage all of the complex mechanical aspects of the budget process, as well as being able to readily provide analysis and decision support. The mere process of preparing budget templates, distributing them to the faculty and staff, collecting these spreadsheets, verifying their accuracy, aggregating and consolidating numbers and preparing for the budget review sessions is a cumbersome and manual process for the finance staff. Instead, the budgeting system in-place should alleviate most of those time-consuming mechanics, and allow for the finance staff to focus their time and attention on value-added decision support and analysis.

Budgeting for Special Initiatives and Projects

Because the budget process requires identifying spending for special initiatives or projects that may “cut across” various accounts or even departments, it can become very difficult to track properly for these items in the budget process, and it presents the possibilities for human error; especially when a budget for a project is not approved and someone, presumable someone in Finance, has to accurately “strip” or remove all of the spending out of all of the impacted accounts in the budget process, and then reconsolidate the results.

Having a budget system that can easily create budgets for special initiatives and projects, thereby facilitating an initiative-oriented budget review process would be an ideal process to have in place. This type of system should allow for faculty and staff to submit these initiatives and then have the budget system automatically determine the impact on the account structure. Without this type of budget system, if an initiative is not approved, someone has to go back into each of the associated accounts and try to remember how much that account was attributed to that initiative that was cancelled. This can cause inaccuracies and it will lack an audit trail.

Detailed Budgeting for Position Control

For many institutions of higher education, it is not uncommon to find that over forty percent (40%) of expenses relates to personnel costs (salaries & benefits). However salary and headcount planning are many times disconnected from the rest of the budgeting process. This can lead to confusion, rework, and a lack of fiscal awareness and understanding on the part of the department heads who actually manage the faculty and staff.

To help alleviate this problem, having detailed budgeting for “position control” should be in-place. Salaries and benefits are a special line item in the budgeting process. Therefore, the budget system should be able to handle half of the requirements with respect to “position control” – the budgeting half.

The budget system should allow for faculty and staff to plan headcount down to the individual level and let the “system” handle additions, reductions, raises, FICA, benefits and other.

Report Generation

In addition, timely and accurate reporting is always a challenge, and faculty and staff are heavily reliant on Finance for reports. Producing these reports can be time consuming and prone to error, especially if you are using Excel linked spreadsheets.

What is needed is both budget reporting and monthly management reporting. A good system should have pre-defined report formats, specific reporting, and fully user customized reporting that does not require the user to learn a new report writing environment. It should be user friendly and simple to use, while meeting the institution’s specific needs.

Budget the Way They Think

Because there are divergent needs across institutions in the way people think about and develop their budgets, it can be a complex issue. For example, the needs of the English department do not match the needs of the Business department, which do not match the needs of the Music department. Each has a unique way of looking at their financial needs. This is all made more complex by the fact that the institution also has to consider diverse needs like housing, food services, athletics, facilities maintenance, alumni relations, admissions and other non-academic departments.

Therefore, what is needed is the flexibility to deal with the challenges of diverse departmental needs so that each faculty member or staff involved in the budget process will be able to budget the way they think, but do so in a well controlled environment.

Preparation of Multiple Budget Versions

Generally, budgets are and have to be prepared without full knowledge of what the actual student enrollments will be or what grants might be approved or what gifts are received. This is probably the biggest challenge in the budget process. Therefore, the institution should prepare multiple versions of the budget and then select a scenario that most closely resembles the reality of the school year when it begins.

Having a budget system that can manage multiple scenarios/versions is what’s needed. For example, the college or university will want to budget a worst case, best case and a most likely scenario. The system should accommodate that, and also make it easy for faculty and staff to then submit the “Final” budget which may incorporate elements of all those different scenarios.

Management expects fast answers to practical questions like “What’s the impact if we reduce the tuition increase from 3.5% to 2.5%?” At first blush, this may seem like a relatively easy calculation to make. However, when you take into consideration all of the other budget line items and variables that can be affected by this sort of change, producing a result with real accuracy can be difficult and time consuming. Ideally, you want to be able to achieve updated financial targets as directed by the institution’s President without necessarily going in to make significant account changes. Therefore, the budget process should allow for structured and practical “what-if” capabilities that will allow users to test assumptions on high level strategies to determine their impact on the budget without spending a lot of time making the calculations, yet having them be accurate.

Therefore, practical “what-if” capability that will make it easy for Finance to see the impact of changing key levers of the budget and identify ways to “close the gap” quickly is what is needed.

Implementation of a Budget Workflow Process

Often times the operational review and approval process can be inconsistent across the organization. Because of this, Finance has no way of knowing which budgets have really been operationally scrutinized and “scrubbed” by Deans and VPs and which ones haven’t. This leads to an equally inconsistent quality of budgets being submitted and consolidated; and ultimately to rework.

Because of this, a budget workflow process needs to be implemented. Both finance and administrators need to have a budget process that will allow for organizational budget review and budget approval of department budgets up through the organization chain of command. This process can dramatically reduce the time that it takes to get to a “Final” budget, and it allows for greater ownership of the budget and dramatically improves the quality of the budget numbers.

Utilization of a Budget Map

Generally, faculty and staff want everything that they need for a budget on one singular screen, but this is really impossible with Excel. They have to go to multiple files and multiple tabs, which can lead to frustration, confusion and rework.

Having a Budget Map in place that lays out all the accounts needed to budget for and presenting them in a way that’s easy to digest and understand will produce a much better result. It should answer questions at-a-glance like: which department am I budgeting for, which version of the budget are we working on, which accounts am I responsible for, what options do I have to both create and spread my budget numbers, what is my current budgeted headcount for the year and what final targets am I being asked to achieve.

In Summary about the Budget Process

While operating expenses continue to rise, the days of simply passing on those increases in the form of rising tuition can no longer be the norm. Students and their parents look for leadership in higher education to find ways to do more with less, and without compromising education and the student’s environment – that’s the new normal. Budgeting, and effective resource allocation, is at the heart of addressing the new normal, and it must be a priority.

It is important that the current budget process at institutions of higher education be reviewed and those current processes should be compared to the concepts and budget system described in this article. If they do not utilize this type of budget system, the institution should consider forming a Project Team to identify, review, and sample software solutions available through companies that have developed and implemented innovative, practical and incredibly powerful budget preparation software for institutions of higher education, that energizes a “Culture of Budget Accountability” among users. Tailored applications for institutions of higher education in budgeting and planning applications, replacing spreadsheet-based budgeting and providing maximum user flexibility and financial controls are readily available from industry specific software solution providers.

Ultimately, the goal to refine and improve the annual budget process at any college or university would be to have a budget system in-place providing for improved communication, greater ownership of the numbers and increased transparency enabling the institution to better manage financial performance throughout their fiscal year. And once the budget is in place, monitoring the actual operating results to the budget on a monthly basis, with variance analysis explaining the reasons for the differences is a necessity; recognizing adjustments may have to be made during the year to hold the overall actual operating results as close as possible to budget in order to avoid shortfalls and deficit spending.