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Insights on money, career and trading

Bankruptcy Lawyers: What Are Their Requirements?

Posted on September 16, 2020 by Daniel at 10:13 am

Bankruptcy can be defined as a civil procedure through which individuals or other entities who can not pay back debts to lenders may seek relief. In most jurisdictions, a bankruptcy action is initiated by the plaintiff, usually initiated by the debtor itself. The court can also grant a temporary bankruptcy protection in certain instances, when the individual is unable to pay back the debts, or if he or she has no assets to liquidate to pay for the debts.

A bankruptcy is considered personal liability protection because it is designed to protect the person filing for bankruptcy and to provide some sort of relief to him or her. The protection is granted by the court only after examining whether the defendant, or debtor, is able to repay all the debts and is not at risk of being unable to repay them in the future. This can only be determined by considering all aspects of a debtor’s financial position, including the debt amount and his or her ability to pay for it.

Before filing for bankruptcy, the plaintiff must first obtain a written opinion that the person is in fact unable to pay the debts and can not make his or her installments on time. This opinion will be provided by a qualified and experienced bankruptcy lawyer. In cases of insolvency where the person has other assets, it is required to establish the value of these assets. A bankruptcy lawyer will help determine this value and prepare a detailed report on it.

According to federal bankruptcy laws, a bankruptcy is granted only if the court finds the debtor to be unable to pay for all the debts and that the assets of the debtor are worth less than the amount that could be owed to the creditors in the case of failure to pay back the debts. If the court finds this to be the case, it will either order the person to sell all the assets he or she owns to satisfy the debts or will declare that the bankrupt is incapable to pay for all the debts himself or herself. In such a situation, the court may allow a temporary court protection against further claims by the person filing for bankruptcy.

When the court is convinced that the debtor can still pay for the debts and that his or her assets are of reasonable value, it will appoint a trustee to oversee the administration of the debtor’s estate. This trustee is responsible for collecting the debts and distributing the proceeds to the creditors according to the terms set forth in the bankruptcy code.

A temporary court protection enables the debtor to continue to meet with the creditors on a regular basis in order to continue paying back the debts, even when he or she is unable to continue to pay them, until the court has determined that he or she is able to pay them. This is done under the supervision of the trustee. The temporary court protection will also give the debtor the chance to reorganize his or her financial resources to repay the debts in an orderly manner.

Bankruptcy protection can be granted either by the state court or by the court of bankruptcy, but the latter is more common. However, both courts have different procedures.

To qualify for a temporary court protection, the plaintiff and the defendant will have to provide the same information about each other, although bankruptcy lawyers are usually paid on a contingency basis. The debtor must file a petition for a temporary court protection with the court to prevent the proceedings.

Dangers of mimicking the traits of successful traders

Posted on March 12, 2020 by Daniel at 5:03 pm

Trading is a vast sector where naïve individuals try different sorts of techniques to gain success. While some of them are quite hilarious, it is also important to mention that some of them work. In this article, we are going to describe one significant yet peril task that is often undertaken by beginners. Although the stakes are high, the traders think the profit is worth the risks. This task is simply copying the traits of revered investors and trying to incorporate the same techniques in their trading platform. As you keep on reading, many amazing facts will be revealed. However, it is strongly advised never to copy the styles of others as it is highly risky and foolish. Instead, try to understand the price movement and know when volatilities will appear so you can use it wisely.

Before we begin explaining the dangers, it is worth describing why this is not a good concept at all. First of all, every individual has a different perception of the market. The same volatility can be explained quite differently by two traders. The difference can be much higher if their timeframe is also contrasting. Divergent minds analyze the same signals in diverse ways. Secondly, the capital is yours alone. This is a daunting task to manage the fund by simply relying on other people’s knowledge. It is never a wise decision and learns to spearhead its capital. Finally, what happens if the favorite investor closes his signal telecast out of the blue? Think of these consequences and these will make realize how people are slowly approaching towards impending disaster.

Understand but do not replicate

What good is it if people lose all the capital before even making money? To avoid such catastrophes, the industry has allowed opening demo accounts free of charge. If the urge is too strong to control, we advise perceiving the techniques used by these seasoned investors initially. Do not get mesmerized by the eccentric strategies as it can be easily developed. There is no credit in copying others but the real greatness lies in overcoming all the adversities and emerging as the winner. This is a big sector where millions can be made easily, only if the mind is trained properly. Try to be open-minded and infuse learning into the method being developed.

Believe in yourself

You need to believe in yourself to become a skilled trader. The pro-Singaporean traders are able to deal with this complex market since they never lose hope in them. They have worked hard to develop their skills. After having a strong foundation, they have opened a professional account to start trading with own logic. As an investor, you should also learn about the professional broker. View page of the professional broker and you will realize the importance of reputed broker like Saxo. Stop chasing your dreams by trying to trade the market with an unregulated broker who never offers premium access to the market.

Keep a certain extent, this sector is evolving continuously

Do not get carried away by their help. It is often founded scammers like to lend their advice and eventually flee away with the deposit. Maintain decency and keep on learning as new information keeps on developing. This may seem like short term magic but in the long run, it is the community who are deceiving themselves. What is appropriate today might be obsolete tomorrow. The uncertainties are great so never invest money based on predictions.

No omnipresent techniques

Ultimately, there is no fixed recipe to cook the rice. In every culture, an amazing recipe can be found to cook the same staple but that does not make it less appealing. Respect the diversities and believe in yourself. Never look upon yourself and try to find the spirit that will help to keep on track while not being distracted by the available offers.

How Much of Your Personal Effort Should Go Into Your Business Accounting?

Posted on October 22, 2019 by Daniel at 3:44 pm

You have a business. You started it from the ground up. You use your money, time, effort, and energy to get started. And now, you are starting to see some success. The question will soon arise of how much time you should spend doing your own business accounting. 

As more money comes and goes, trying to figure out how to do your own income and expense reports will take up more and more of your time. Is it worth it past a certain point?

The answer to that is no. But, you have to decide what that tipping point is. To help you with it, you should recognize the benefits of outsourcing your finance and accounting processes. 

You should know what kind of effort has to go into your finances after you create a detailed business plan. And, in theory or practice, you can move your way through the information you would receive in an MBA program. That will give you a good idea of what proportion of your time should be going to finances.

The Benefits of Outsourcing

It is hard to overstate the benefits of outsourcing finance and accounting processes. As soon as you get to a point where more of your energy is spent on your accounting then on promoting your business, then you are in the wrong. You have to spend your money in a way that creates the least opportunity cost for yourself. 

A big part of this is going to be moving your accounting and financing administration to someone else. Hiring a consultant or contractor is a good way to do this.

Creating a Detailed Business Plan

Before you started your business, you created a detailed business plan. As you move your way through that plan horizontally in time, you’ll find that at some point, the economic value of you working with your accounting numbers no longer fits within the framework that you have set up for yourself. 

If you don’t choose to do raw outsourcing of financial work at that point, then you should slowly and steadily start figuring out someone other than you internally to do this before your business plan derails itself.

Moving Through an MBA Program

Have you considered getting an MBA? In a few years, you can get all sorts of vital information about the financial aspects of a business. During that period, you can decide for yourself how much time the owner of a company should spend on financial matters. 

Early on in the history of your developing brand, you will have to do all the work. However, as you’ll find out from the information in a business administration program, it makes a whole lot more sense to move your talents into a different area as your company expands.

Best Jobs to Have While You’re a Student

Posted on September 11, 2019 by Daniel at 3:55 pm

Best Jobs to Have While You’re a Student

Given the demands of college, maintaining part-time employment as a student is no easy task. But there are a variety of flexible jobs out there that can pad your wallet and give you valuable work and life experience.

Approximately 70% of college students work while attending school, according to a recent study by Georgetown University’s Center on Education.

Whether it’s working on campus or off, some extra money can help pay for books and keep you afloat until you get that diploma.

Here are eight of the best jobs to have while you’re a student:

 

  1. Tutor

Tutoring is a great side hustle, especially if you have high SAT scores or you enjoy teaching certain subjects. There’s also a possibility you can do it online, which makes the gig even more flexible.

Tutoring can pay well, as some expert tutors charge around $50 per hour, and the work experience will look great on your resume.

Your best bet is to refine the skill level of students you’ll be targeting. You can tutor grade-school kids or even fellow college students, but it’s smart to stick to a single demographic.

Check to see if your school offers tutoring jobs. You can also advertise your services online, or apply to an online tutoring website, like Tutor.com.

 

  1. Bank Teller

Many bank tellers work part-time, so this is another job that offers good flexibility for college students.

As a bank teller, you’ll gain valuable customer service experience and a familiarity with numbers and basic math. It’ll also spruce up your resume because handling cash transactions shows you’re trustworthy.

Many students who are interested in financial careers get their start as bank tellers. Even if you’re not looking for a future in finance, working as a bank teller is still smart because it usually pays above minimum wage.

 

  1. Barista

Working as a barista while in college is a bit of a cliché, but probably for good reason. Many campuses have multiple cafes, so you won’t have to travel far for work.

Barista jobs also come with the money-saving benefit of a free caffeine fix, especially if you love $5 lattes. Plus, the cash-handling and customer service experience you’ll gain may be handy after college ends and you need to work a retail or food service position for extra money.

 

  1. Server or Host at a Restaurant

Working in a busy restaurant is a great way to make decent money, and you’ll learn valuable skills like dealing with stressful situations.

Like other jobs we mentioned, working as a server or host allows you to gain exposure to working with different personalities, teaches you how to handle customers and will give you the necessary teamwork skills. Plus, restaurant work can be exciting, and you’ll meet all types of people.

 

Pick the type of serving job and shift that fits best with your schedule. You’ll make the most money on a Friday night at a popular spot, but you could also work mornings at the local diner.

 

  1. Dog Walker or Pet Sitter

Love animals? Then a side gig as a dog walker or pet sitter is an excellent way to earn extra cash.

Dog walking or pet sitting allows you to set your own schedule and work around your classes and other commitments. As a pet sitter, it also gives you incentive to focus on studies while you care for your new furry friend.

The money isn’t bad, either. Dog walkers earn between $15 and $60 per hour, depending on location and other factors.

 

  1. Call Center Rep

Working at a call center is another flexible job that will highlight your skills on your resume. While making dozens of calls per shift, you’ll learn communication, problem solving, and negotiation skills that can pay off in the future.

These jobs pay relatively good wages, too. It won’t make you rich, but it will help you cover some expenses while you’re a student. Some companies even allow you to work remotely, which means you can do this without leaving your dorm.

 

  1. Tour Guide

If you know your campus well, you can parlay that knowledge by becoming a tour guide for your college’s admissions department. Many universities look for bright, outgoing students to lead tours and talk to potential students.

It’s a fun job because you’ll meet different people and make connections. Plus, you won’t even have to leave your campus for work.

 

  1. Gym Receptionist

Many gyms open early and close late, with some even operating 24 hours and seven days a week. This creates a scheduling flexibility that’s perfect for busy college students.

Getting an employee discount or even a free gym membership is another money-saving benefit that makes this an ideal part-time job for students.

These 8 student jobs mentioned above are a great way to earn some extra cash to help pay off your dreaded student loans and fund those expensive college books while getting your degree.

What to Do If You are Struggling Financially

Posted on March 22, 2019 by Daniel at 3:09 pm

It is hard to live check to check. If you are hit with a financial emergency, then it can be even more difficult for you to make your money stretch. Fortunately, there are several ways that you can deal with a financial emergency. (more…)

Financial Tips For Those Living With Disabilities

Posted on February 28, 2019 by Daniel at 7:06 pm

You may not think that you could end up being a person who can’t work due to a disability, but you may have something left to learn.  According to the NHS, over eighty percent of those determined to be permanently disabled were not born that way.

(more…)

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Insights on money, career and trading