Individual Voluntary Arrangement Can Prevent Bankruptcy
(ContentDesk) July 16, 2006 -- Bankruptcy is on a steep rise in the UK. Part of the problem is a misconception that going bankrupt represents a soft option when dealing with serious debts and insolvency, say debt help experts The Debt Counsellors, who are urging people with serious debts to consider the Individual Voluntary Arrangement as an alternative.
The Enterprise Act of 2002 made it possible to be discharged from bankruptcy in less than 12 months and The Debt Counsellors claim that a result of this is that many people are under the misapprehension that going bankrupt is an easy way to wipe out their debts.However, as the debt advice organisation points out, bankruptcy carries with it a serious risk to key assets as well as restrictions regarding business activity and credit.The Debt Counsellors also believe that many people enter into bankruptcy without being sufficiently aware of the alternatives, such as the Individual Voluntary Arrangement (IVA) which avoids many of the risks associated with bankruptcy and allows the debtor to continue earning whilst paying off a reduced debt over five years.John Porter, a senior counsellor with The Debt Counsellors, said: "The last quarter's bankruptcy statistics showed a year-on-year increase of 38%."As many as 100,000 bankruptcies are predicted for 2006 but we believe that in many of these cases, people are entering into bankruptcy without sufficient knowledge of either the risks involved or the alternatives."Porter adds: "We are urging people to get professional debt counselling on their situation before making a firm decision. The Individual Voluntary Arrangement is a potential way to avoid bankruptcy and a debt counsellor will be able to give advice on whether it is viable in an individual case."For more information and advice on bankruptcy, insolvency and the Individual Voluntary Arrangement, visit http://www.debtcounsellors.co.uk.
Debt Consolidation -- Choose Your Credit Counselor Carefully
Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will require people who are filing for bankruptcy to first undergo mandatory credit counseling.This is probably not a bad idea; after all, many people with problem debt could probably benefit from credit counseling. A good credit counselor can assist clients with problem debts in establishing a repayment schedule, creating a personal budget, and learning how to avoid debt and credit problems in the future.The problem is that with the estimated one and a half million additional people seeking credit counseling each year, there will undoubtedly be more credit "counselors" entering the market, and many of them are only interested in reaping huge profits at the expense of their clients. There are already a number of credit counseling firms working in the marketplace that advertise themselves as "nonprofit", when they actually are closely tied to for-profit debt consolidation firms. These agencies...
Debt Consolidation -- Choose Your Credit Counselor Carefully
Bankruptcy > Debt Consolidation -- Choose Your Credit Counselor Carefully
Sparks Exhibits & Environments Transaction Approved
Sparks Exhibits & Environments, a leading creative event marketing agency and provider of tradeshows and custom environments, announces that on March 4, 2005 the US Bankruptcy Court for the District of New Jersey approved its purchase agreement to acquire Showtime Enterprises, Inc.The agreement, first announced on January 13, 2005, has been subject to a number of conditions, including approval by the bankruptcy court, which it received last week. Now, with the courts approval both companies are proceeding in accordance with the agreement."Over the past few years we have concentrated on building a great company through hard work and dedication," states Scott Tarte, CEO of Sparks Exhibits & Environments. "This merger really raises the bar and we are looking forward to the many possibilities that the future holds." While the official closing of the transaction is March 15, 2005, both companies are moving quickly to transition and expedite the process. "It is an exciting time for the two...
Sparks Exhibits & Environments Transaction Approved
Bankruptcy > Sparks Exhibits & Environments Transaction Approved
Great Financial Mortgage President Talks Rapid Re-Score With ABC7 News
Los Angeles, CA (ContentDesk) June 24, 2004 -- ABC7 news consumer specialist Ric Romero interviewed Gavin Fenske, President of Great Financial Mortgage, www.greatfinancialmortgage.com , about the Rapid Re-Score option. Rapid re-scoring allows customers seeking mortgage financing the opportunity to immediately repair erroneous information that is currently on the credit report and boost their scores in about 5-7 days.
This can mean getting better interest rates and better terms on a loan versus taking a sub-prime loan that offers higher rates and uncomfortable terms. Asked why this is an important feature, Fenske explained that rates and programs are based upon a client's credit score.
Typically, through regular channels, it would take a consumer 2-3 months to repair their credit going directly through the three major credit bureaus (Experian, Equifax and TransUnion).
Rapid re-scoring requires...
Great Financial Mortgage President Talks Rapid Re-Score With ABC7 News
Bankruptcy > Great Financial Mortgage President Talks Rapid Re-Score With ABC7 News
The Benefits of High-Yield Investment
High-yield investment can turn out to be very rewarding for investors. Although there is a certain amount of risk involved in high-yield bonds investments, they can also be very profitable for investors if they are targeted towards companies that have the potential to recover from their financial instability.
A high-yield bond, also known as a junk bond or non-investment grade bond, refers to debt security that has a very low rating. High-yield bonds are usually rated below BBB (according to Standard & Poor's) or Baa3 by Moody's; therefore they have a rating lower than the investment grade. Investors have access to high-yield bonds either through mutual funds or through individual business investments. High-yield bonds investments through the means of mutual funds are considered to be a lot safer, as they considerably reduce the chances of investing in non-profitable business trusts or companies.
High-yield investments can become very profitable, as they can sometimes...
The Benefits of High-Yield Investment
Bankruptcy > The Benefits of High-Yield Investment
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