Factors to Consider While Filing Bankruptcy

Bankruptcy is one word that we all fear about. Debt is stressful and overwhelming experience for anyone and a pure hell that have gone through. The most hazardous is when these debts start piling up and collection begins to call in; it is like living on the edge of financial hardships. Rather than keeping your debts and overhead expenses piling and finally that you come broke, it is better to file a bankruptcy before that.

In present economic situation, filing a bankruptcy is common thing, though for those who are filing are under pressure of numerous things, questioning whether they have head towards the right step or not.

Also, they have a fear whether they will be able to get back their life on track or not. There are certain factors to consider while filing bankruptcy and instead filing it yourself it is recommended that you hire an expertise help.

The reason of hiring an attorney for filing bankruptcy is every country/state has different norms to follow and has designed the bankruptcy law similar to that. It is difficult to know and follow these laws, also with time they are changed which makes grim to know the latest update thus, employing attorney sounds good.

Below mentioned are some of the factors to consider while filing bankruptcy such as:

First Thing First, Are You Ready For This: It is an important decision that people take time in taking into consideration. Determining to file for the bankruptcy doesn’t mean one doesn’t have weighed its pros and cons. Also, it is life altering matter, if not bankruptcy, through debt negotiation has also proved to be effective in resolving debt issues.

Your Assets Might Be At Risk: Debt crisis can lead to all types of consequences; some of them make it worse than others. When you default on a secured debt, such as car loan or mortgage those assets automatically turns into the risk of liquidation. Filing for the bankruptcy can help you regain the possession of your assets or can prevent a foreclosure. This is an actual benefit that people find appealing in bankruptcy process. When comparing the traditional debt negotiation, bankruptcy places an instant hold on any seizure, garnishment orders or lawsuits. This lets you have enough time to resolve your debts without worrying about your valuable possessions.

Debts Are Overwhelming: People most of the times misunderstood about the entire filing bankruptcy procedure, they think that those who file bankruptcy are overwhelmed by their debts. However, it is not always the same scenario with missed payments and tight financial condition it is an occasional concern and doesn’t necessarily suggest that you are a candidate for filing bankruptcy. If your debts majorly comprises of student loans, domestic expenses, taxes and such like then you are less likely to file bankruptcy since these kinds of debts rarely qualify.

Have You Reviewed Your Options? Filing for the bankruptcy could be a great tool during your financial hardships, not a first choice that you at the most consider. Though the entire procedure is time consuming, and involves attention from legal avenues. Also, know that not every time you are saved from the legalities there are always good as well as bad side and depending on the case the court approves the filing if not entirely but partial. It is better that you consult an attorney and let him/her do the job.

It is necessary that you talk openly with your attorney, as he/she would be the only person that would be fighting for you and aiding your financial crisis as much as possible. Lastly, know that filing bankruptcy is not about absolutely about how bad your past financial records were, but how efficiently you will be managing your financial undertakings after it.

5 Tips to Make Your Home More Secure

IMG_6319 (Photo credit: aFrozenMoment)

Burglaries are sadly a common occurrence and with a number of rural Garda stations closing, homeowner’s have to do what they can to dissuade thieves from choosing their property as a likely target. Here are 5 sensible ideas and initiatives that can help keep your property secure and reduce the chances of your home being targeted.

Lighting

Good outside lighting can be an effective deterrent and if you have a burglar alarm fitted then make sure the alarm box is visible so that a burglar may think twice and choose a less well protected property instead. Make sure that your lighting covers and protects doorways and recessed area so that there is no hiding place when someone walks onto your property, but try not to position the lighting in a way that it causes a nuisance to any neighbours.

If you are going out or away for any period of time then use timers to activate lights and maybe a radio as well, but avoid switching the TV on using a timer as it can advertise one of the very items that they may be looking to steal. 

Locks

Using locks efficiently to protect your property is a vital component in your efforts to keep your home safe from intruders. As a basic security measure you should make sure that all doors and windows are securely locked when you leave your home, especially when you consider that many burglaries are committed by opportunists who have simply taken advantage of your failure to secure your home and simply walked in rather than forcing entry.

All external doors should have at least three locking points and a mortice lock will add considerable strength to the security of your door. Fitting window locks is a good idea if you have older windows that are not as secure as more recently installed PVC windows which should come with an efficient lock already fitted and also make sure that your patio door has a good quality lock as older doors are known to be vulnerable.

First line of defence

Take time to think about the suitability of the walls, fencing or shrubbery that you have around the perimeter of your garden and view this as your first line of defence. Look at what you currently have and decide if it protects your home or if it makes you more vulnerable by allowing a burglar to go undetected once they are on your property.

Walls and panel fencing around your house may provide you with a degree of privacy but it could also let a thief to break in without being seen. Trees and shrubs look attractive but they can also be good hiding places so you may want to consider a compromise by using chain-link fencing or possibly some trellises with prickly shrubs that will look attractive but won’t be welcoming to a burglar.

Neighbourhood watch

The people that share your immediate environment are a good ally in helping you to avoid being burgled and by getting involved in an existing scheme or even setting up one; you are improving the odds of your neighbourhood not being targeted in the first place. You do not have to live in each other’s pockets for the scheme to be a success but keeping a look out for anything that you consider to be unusual and having your neighbours do the same, will make many thieves think twice if they know that they are potentially being watched over.

Don’t make it easy

Some very basic security measures will also be very effective in deterring opportunist thieves and one of the most common mistakes is to leave car keys and house keys to the side of the door or in sight. It may be convenient to have these keys to hand when you are rushing out if the door but you are also making it much easier for a burglar to break in and also to steal your car. Do not leave a spare key “hidden” outside as many hiding places are more obvious than you realise and draw your curtains at night so that your valuables are not in sight for the outside.

With a bit of practical thinking and even some basic security measures that will not break the bank, you can help to ensure that you increase your chances of not being the victim of a burglary.

Josh Hayward has extensive experience as a financial consultant. His articles mainly appear on personal finance blogs where he enjoys sharing his expertise. Visit FBD for more information on insurance products.

Stay Healthy To Save Your Family's Finances

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According to the Administration on Aging, the number of people 65 years or older stands at 39.6 million. With this figure expected to hit the 72.1 million mark, healthcare providers will have to deal with more diseases and conditions affecting the elderly. Some of these include Alzheimer's disease, osteoporosis, hearing loss, vision problems, heart disease, diabetes, depression, and pneumonia. The good news is you can take steps to stay healthy. Keep reading to learn more about this topic.

Exercise

Regardless of your age, physical activity is good for your health. It will help you improve the body's balance and coordination, strength, and endurance. In addition, you will cut the risk of developing heart disease. In fact, the US Surgeon General's Report on Physical Activity and Health found that people who do not exercise are twice as likely to develop heart disease as the physically active. The National Institutes of Health (NIH) recommends activities to improve balance, aerobic activities, activities to strengthen muscles, and activities to increase flexibility. Start by warming up and stop if you feel dizzy. Remember to stay hydrated by drinking plenty of water.

Sleep

For senior citizens, sleep is very important according to the National Institute on Aging (NIA). Make sure you have at least seven to nine hours of sleep every night. You can also take a nap during the day. Failure to get adequate sleep might interfere with your mood and cause you to be highly irritable and depressed. Additionally, it may cause you to experience memory lapses during the day. In view of this, senior citizens with insomnia should consult their physicians. To get a good night's sleep, NIA recommends avoiding caffeinated drinks and alcohol late in the day, sleeping on a comfortable mattress, and developing a regular bedtime routine.

Diet

As you get older, what you eat plays a big role in determining your health. Make sure you eat plenty of fruits, vegetables, and grains. These contain antioxidants that protect the body's cells from oxidation damage. The NIH also says that they contain beta-carotene, lycopene, and phytochemicals. Some of the best vegetables and fruits that you can include in your diet include tomatoes, spinach, red bell pepper, and carrots.

Avoid the temptation to overeat and limit yourself to 2,000 calories every day. This is the recommended daily calorie intake by the US Department of Health and Human Services. Choose fat free or low fat dairy products, lean protein foods, seafood, as well as foods that contain complex carbohydrates. When it comes to fats, go for liquid oils such as canola or olive oil. Finally, avoid drinks that contain added sugars such as malt syrup, corn syrup, honey, fruit juice concentrates, corn sweetener, fructose, dextrose, sucrose, and glucose. A healthy diet reduces the risk of gaining weight and developing diseases such as type II diabetes and high blood pressure.

Socialize

Staying indoors throughout the day is not good for your health. You are likely to get depressed or even start overeating to deal with the loneliness. Take up a hobby that you love such as gardening, painting, volunteering to visit other senior citizens, or start a book club. You can also arrange with a friend to eat out at least two times every week. The aim is to socialize with other people and avoid the temptation to become a recluse.

The fact that you are getting older does not mean that you have to spend your sunset years in and out of the emergency room. To maintain a healthy body, engage in physical activity, adopt a healthy diet, get enough sleep every night, and build a network of friends you can visit. These tips will not only help you to stay healthy, but also ensure you do not spend your family's money treating medical conditions that you can avoid by simply staying healthy. Remember, huge medical bills could potentially drive your family into huge debts, especially if you have to finance a huge chunk of such bills out of pocket.

Author Bio

Sarah Daren is a writer who creates informative articles relating to the field of health. In this article, she explains the importance of health and exercise in regards to finance, and aims to encourage further study through athletic administration degrees.

Car Title Loans: The Art of Borrowing Responsibly

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Car title loans are popular means of financing for individuals who live on tight budgets. The said loans are relatively easy to obtain and borrowers simply need to agree on the stipulation that they need to surrender their car titles. 

In general, lending companies provide loans that amount up to 50 per cent of the market value of the car that will be used as collateral. They are short term loans (need to be repaid within 30 days) and collaterals are necessary so that lenders can recover their investment once the loan is defaulted.

While car title loans are relatively helpful in a myriad of ways, it should be noted that there are certain risks that are involved in them.

It is a good thing though that risks like losing one’s car, paying high interest rates, and accumulating excessive debts, among others can be easily prevented if interested individuals will borrow responsibly. One way to achieve this is to avoid becoming victims to the loan trap

Avoid becoming victim to the loan trap

Borrowing car title loans should always be the last resort. However, for individuals who live on monthly budgets, they do not have other choice but to procure them when emergency situations arise. Individuals who will apply for car title loans should only borrow the amount that they need.

They should not be tempted to borrow more than what is necessary because it could somewhat give a false sense of financial stability. A lot of times, this is easier said than done because of the convenience as well as the flexibility of car title loans, many can be easily tempted to obtain more than they need.

Also, the said loans are easy to obtain since borrowers do not need to send their payment until the 30 day period lapses. Borrowers should remember however that if they act responsibly at the start, repaying them can be very manageable.

Putting this factor into consideration, it would be best to determine the exact amount that need to be borrowed before applying.

Conclusion Car title loans are some of the best loans that anyone can procure because of their convenience and flexibility. They can be very beneficial to individuals who are responsible for their actions but detrimental to those who act on impulse. Because of the said factors, borrowers should make it a point to borrow responsibly and avoid the loan trap.

Smart Property Investments Can Secure Your Family's Future

If you are an elderly citizen, you can use part of your savings to invest in real estate and if you invest smart, you are likely to earn above average returns on your investments. Although many investors shunned the housing industry after the subprime mortgage crisis of the mid-2000s, the industry is currently showing healthy signs of recovery. On the average, real estate values, rose by 28% in 2011, according to a survey carried out by ActiveRain. The aforementioned report also says that new construction starts are likely to rise by 21% and real estate transactions by about 11%. With some bit of advice from an expert in real estate investment, you too can get in on the act. Even then, here are some great tips

Monitor Foreclosures

The secret of turning a profit from property investments is buying low and selling high. If you have never bought foreclosed homes before, utilize foreclosure-listing services. Of course, being an elderly citizen, you may not have the energy or the time to run up and down your area looking for foreclosure deals. Therefore, use the information provided by firms that provide these services to find properties that you can buy. It is wise to choose houses that require moderate renovations in order to keep the renovation costs low.

Find a Mentor

Unless you have worked in the real estate industry before, do not assume that you know everything. In fact, you should find a mentor with a good grasp of housing industry dynamics. Within a short period, you will gain invaluable insight that would have taken years to master. This is in addition to building a network of professionals in the industry. You can use such relationships to find houses for sale in prime locations before other buyers.

Leverage the Power of Portfolio Lending

Contrary to popular belief, the wealthy do borrow money to finance their business ventures. You too can use the same strategy to build a real estate empire. The trick lies in understanding how portfolio lending works. Normally, mortgage lenders such as banks sell the loans to investment bankers who in turn package and offer them as investments to the public. However, there are certain requirements that one has to meet in order to qualify for a loan. For example, homebuyers have to put up a down payment. This is not the case with a portfolio lender. Because such lenders do not sell the loans to investment bankers, you can borrow as much as 100 percent of the purchase price of a property.

Benefits of Real Estate Investments

Federal Tax Benefits

The idea of paying taxes does not thrill individuals or business owners. One way of reducing your tax burden is by purchasing rental properties. To start with, you can deduct some of your property's value from your income because the Federal government allows it. Secondly, the IRS considers rental income as passive income meaning you do not have to pay self-employment taxes. By keeping more of the money that you earn, you will maximize rental earnings.

Appreciation

This is the increase in value accrued by a property over time. Even carrying out minor renovations can increase the value of your property significantly. Other factors that play a big role in determining appreciation include inflation, supply and demand, as well as economic growth. Avoid the temptation to sell at the first sign of trouble in the housing industry. Over time, your investment will appreciate and return a healthy profit.

All it takes to invest in real estate is a willingness to learn and some bit of capital. Start by finding a mentor to help you navigate the tricky housing industry terrain. It is also wise to monitor foreclosures closely and leverage the power of portfolio lending. The good news is you can sell your properties in the future for a tidy profit and enjoy federal tax benefits as well.

Author Bio
Joshua Turner is a writer who creates informative articles in relation to business. In this article, he offers a few tips in regards to family finances and property investments and aims to encourage further study with MU Real Estate Degrees Online.

3 Tips Retirees Can Use to Budget for a Vacation

You've looked forward to traveling once you retired, and now you're there. Unfortunately, while retirement may free up time, it might also restrict certain expenses. This doesn't mean you can't see the world; it just means you're going to have to carefully plan to make it happen.

1. Consider Travel Options

When it comes to travel, there are some forgotten options that are budget friendlier, and in some ways, a nicer way to go. For example, consider Amtrack, the national rail company here in the United States. The travel itself could be the vacation. But, if trains aren't your thing, there are some very comfortable Greyhound busses that can get you just about anywhere you want to go in the United States.

If you decide to take the great American highway, you can save some money by packing your meals. Too many stops at McDonalds add up quickly. But if flying is your thing, consider internet sites like Travelocity or Expedia. Also, if you travel at odd flying times you can save money. 

2. Plan in Advance

Say you want to enjoy one of the many Caribbean cruises that leave port this fall. Plan ahead and break the cost down — then decide how much you need to set aside each month so that, come vacation time, you're more worried about running out of margaritas than the cash in your pocket.

There are computer programs you can use, not to mention special accounts you can open at your bank, to help you budget and save money. Some people put the change in their pockets into a jar. But it's just a simple budgeting principle to put a bit aside. You probably did something similar when kids were still in the house. During retirement, it will still work the same way.

You might also check on any senior discounts offered at places you visit. It couldn't hurt and it just might save on your overall expenses. But do this in advance, don't take off hoping to find these offers en route.

3. Remember: Where You Stay Affects Eating Options

One of the best parts of the vacation is eating out. Once again, advanced planning can help you meet your budget goals. First of all, decide how much money you will need to eat out during your trip, and save up accordingly. If done right, you can eat out every night if you want to.

Another option has to do with where you stay. If you have access to a time-share condo, they come with kitchens. You can generally buy food cheaper than it costs to eat out, you'll just have to make them yourself and clean up after. This is not as convenient, but could be even nicer and a bit more intimate.

There are really many ways to save on the costs of a trip, or to save up for a great get away. Remember to plan ahead and understand how your planning relates to every step of the trip. The more consolidated ideas you can come up with, the more money you can save.