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	<title>Business Law Articles</title>
	<link>http://www.buildyourownbusiness.biz/cat/index/48/Business-Law-Articles.php</link>
	<description>Business Law Articles - Latest business
news &amp; management advice on how best to build your own business -
Free, independent business articles on Strategy, eBusiness, Change
Management &amp; much, much more.</description>
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	<pubDate>Tue, 07 Sep 2010 12:48:43 +0000</pubDate>
	<managingEditor>admin@buildyourownbusiness.biz</managingEditor>
	<webMaster>admin@buildyourownbusiness.biz</webMaster>    
	<item>
      <title><strong>The Role of a Trustee in a Bankruptcy Case</strong></title>
      <description><![CDATA[Ok, you are getting a fresh start on your financial situation by filing for bankruptcy. One of the important players that you are going to be interacting with in the case is a bankruptcy trustee. A bankruptcy trustee is a lawyer assigned to oversee your bankruptcy case. Their role in the case differs as to whether your bankruptcy case is Chapter 7 or Chapter 13.

In Chapter 7 Bankruptcy
In a Chapter 7 liquidation case, a trustee is selected at random from a panel of lawyers. Their main goal is to sell property and distribute the proceeds to creditors. In this process, a trustee sits down with the debtor during a “341 meeting” and asks them questions about their assets and financial affairs. From there, trustees review bankruptcy documents and is entitled to ask questions to find out if any nonexempt property, assets, or items can be seized by the trustee and sold to satisfy debts.

In Chapter 13 Bankruptcy
In a Chapter 13 reorganization, a trustee’s role differs somewhat from a Chapter 7 bankruptcy. A debtor still meets with a trustee in a 341 meeting and is asked about assets and financial affairs. However, the trustee cannot take any of their property or assets. Instead, they assess the bankruptcy plan to see if it fits technical requirements and if it seems like it has a reasonable chance of success in repayment. Additionally, many trustees in Chapter 13 offer financial counseling and management.

A Reminder
It is important to to remember a couple things about a bankruptcy trustee in order for a case to run smoothly and carefully. First of all, they aren’t your enemy who is seeking to suck you dry of all of your money. Their main goal is not to pick through your possessions to sell them off. In fact, most are quite reasonable people who are simply trying to do their job. In relating to a trustee, a debtor first of all needs to be honest. That includes an accurate listing of your assets because inaccurate disclosure can lead to criminal prosecutio ..]]></description>
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      <title><strong>What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?</strong></title>
      <description><![CDATA[Being in debt can be a stressful, confusing, and often scary situation. It can feel like you are in a deep hole and all you want to do is climb out but creditors are continually throwing dirt down to bury you. Sometimes, the best option to get out from that hole and escape the wrath of creditors is by filing for bankruptcy.

Bankruptcy can be a confusing process if you are going at it alone and many people are unaware that there are different options available when filing. There are two classifications of bankruptcy that individuals can file for: chapter 7 and chapter 13.

Chapter 7 bankruptcy is referred to as a liquidation plan. In chapter 7 bankruptcy, debtors ask for the bankruptcy court to discharge most of the debts they owe in exchange for any property that is nonexempt from collection. There is no plan of repayment of debts as in chapter 13, however the debtors property that is collected by a trustee is sold with the proceeds used to pay creditors in accordance to Bankruptcy Code. Chapter 7 lasts about 3 1/2 months and you make no payments to the court during that time. 

A common question people have who are considering a chapter 7 filing is in regards to the loss of property. Generally, if a debtors property is subject to liens and mortgages that pledge the property to other creditors, those pieces of property are going to be given up. The Bankruptcy Code, however, does allow the creditor to keep certain exempt property. It is important to realize that filing a petition under chapter 7 could result in the loss of property.

Chapter 13 is called the wage earner’s plan and allows people with a regular income to develop a plan for repayment of debt. Under Chapter 13, debtors propose a repayment plan to pay all or a portion of their debt over the period of three to five years, depending upon monthly income. So, under chapter 13 the time period is longer and debtors pay monthly payments to creditors similar to a debt consolidation plan, and the debtor ..]]></description>
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      <title><strong>How To Protect College Funds In Bankruptcy</strong></title>
      <description><![CDATA[The cost of a college education has skyrocketed in recent years and there appears to be no end to tuition increases. For the 2009-2010 school year, the average cost of a private four-year college was $26,273, up 4.4 percent from the previous year. The  percentage of increase was even greater for public schools, which rose 6.5 percent over the previous year to $7,020. What that means is on average, the cost of a four-year private college education would be more than $100,000. Unfortunately for parents who want to provide the best education possible for their children, it doesn’t look like this trend is turning around any time soon. Estimates put the increase in college tuition at double the inflation rate, which is currently between 5 and 8 percent.

Most states offer incentive programs that bring relief to parents and enable them to begin saving money from the time that their children are born. One of these options, the 529 College Savings Plan, is operated by a particular state or educational institution  and helps families set aside funds for future college costs. These savings plans are beneficial for three reasons. First, they offer a targeted way to budget for your child’s college education. Secondly, they are tax sheltered assuming the funds aren’t withdrawn early. Finally, they offer safe interest-earning growth of the money. Unfortunately, they aren’t always guaranteed to get into the hands of your kids. 

For individuals struggling with personal finances and debt from a job loss, personal injury, death, or divorce, repayment of debt can be nearly impossible. It can be tempting to tap into a child’s college fund to deaden the calls from creditors. Fortunately, there is a way to keep the creditors at bay without using any child’s college fund. By filing for bankruptcy, individuals can shelter debt from creditors. No other method of dealing with debt has this availability. Here’s how:

First, individuals can protect college fund money from  ..]]></description>
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      <title><strong>Is It Possible To Own a Home After Bankruptcy?</strong></title>
      <description><![CDATA[One of the most common misconceptions people have about bankruptcy is that by filing, they will never be able own a home again. While bad credit can be a stumbling block to obtaining credit for individuals who have not filed for bankruptcy, credit is not an insurmountable hurdle. The second factor at play in bankruptcy is time. A bankruptcy stays on your credit report for 10 years but 18 to 24 months after a bankruptcy discharge, debtors can qualify for a loan. 

Some lenders will offer loans to individuals six months after they have had their bankruptcy discharged, however they require a 20 to 35 percent down payment. Additionally, the interest rate will be very high and the loan terms are likely to be strict. For better rates, many individuals wait four years after their discharge to obtain a loan.
There are things that you can do that can make you more likely to obtain a loan. Here are some tips.

First, it is important to obtain and use a source of credit, probably a credit card. This is not an impossible task. In fact, many credit agencies have no problem with lending to individuals who have recently discharged bankruptcies because they know that they have no debt and lack the ability to file for bankruptcy for seven years. Once you obtain this credit card, it is vital to pay your bill on time and not fall behind. 

Secondly, it is important to show steady employment. This is an important aspect in procuring a loan for anyone seeking credit, however, for someone who has a bankruptcy on their report, it becomes even more important. Lenders want to see that you have the ability to pay them back and the surest sign of that is a steady source of income. 

Finally, it is important to begin saving money for a down payment. Hopefully, without the hassle of monthly payments to creditors, your income will be freed up so that you can begin setting aside part of your paycheck every month into a savings account to prepare for a home purchase. 

If you are seriou ..]]></description>
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      <title><strong>How To Protect Your Investments In Bankruptcy</strong></title>
      <description><![CDATA[Serious financial problems rarely happen when you expect them. Personal injuries or other illnesses that leave you disabled can cause huge medical bills to pile up yet cut off the only source of funds you have to pay off your debts. Sixty-two percent of all bankruptcies filed in 2007 were linked to medical expenses. That is almost 20 percentage points higher than 2001. Unfortunately, the numbers aren’t getting any more encouraging. One would expect these figures to indicate a large amount of uninsured individuals, yet for people filing for bankruptcy in 2007, nearly 80 percent had health insurance. As medical costs rise, this is going to be an increasing issue.
 
For individuals suddenly stricken with illness or disability, the inability to work is a new experience. Many people who have invested wisely throughout their working careers to build a nest egg for retirement are tempted to liquidate investments in order to pay off pending debts. This doesn’t have to be the case. If your savings are in a 401K or an IRA account, there are ways that these assets can be protected from creditor judgements.

In 2005, the government realized that individuals filing for bankruptcy need to have certain assets available to them in order to move forward after filing. Stemming from this and other realizations, the government changed bankruptcy law. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 protects tax-qualified retirement plans including pensions, profit-sharing, and IRA plans valued at up to $1 million from creditors in the event of a bankruptcy. 

IRAs are the largest component of the U.S. retirement market and most investors hold these assets in traditional IRAs, which are funded by rollovers from employee-sponsored retirement plans and other contributions. They often provide easier access to money, have a wider range of investment choices, and may have lower fees. For investments in a 401K, the traditional form of retirement sponsored by emplo ..]]></description>
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      <title><strong>Bankruptcy Exemptions What Is Eligible?</strong></title>
      <description><![CDATA[Chapter 7 bankruptcy is commonly referred to as “liquidation” bankruptcy. It cancels debt entirely in the course of approximately three months and is an attractive option for many people considering bankruptcy. The down side for many is that filing for Chapter 7 means that any non-exempt belongings will be liquidated to distribute among creditors in order to pay off debts. When you file for Chapter 7, it is critical to know what exemptions will be included. Clearly understanding your options can help you make the right decision. Since exemptions differ from the state and federal laws, it is recommended to clarify your state’s laws before filing. Here are some sample exemptions.

States have an exemption on homesteads for individuals filing for Chapter 7 bankruptcy. The way to determine what state to use for your exemption is by looking at where you lived for the 730 days before filing. If you didn’t live in a single state for the past two years, you can determine your state by looking at the past 180 days and see where you lived for the majority of that time. If you are ineligible for state exemptions, you can take federal exemptions. 

On the federal level, exemptions include a Homestead exemption of $21,625, a jewelry exemption of $1,450, a motor vehicle exemption of $3,450, an exemption of $2,175 that covers tools of the trade and including books and other equipment used for work, plus an exemption of $550 per item in any household goods up to a total of $11,525.

For the state of California, bankruptcy exemptions include homestead exemptions, personal property including appliances, furnishings, clothing, building materials for home repair, burial plots, health aids, jewelry and heirlooms, motor vehicles, personal injury and wrongful death causes of action and recoveries needed for support. Additionally, insurance, property of business partnerships, pensions and retirement income – including IRAs and Keoghs, tools of the trade and public benefits  ..]]></description>
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      <title><strong>Debt Relief: What Are the Alternatives to Bankruptcy?</strong></title>
      <description><![CDATA[Unfortunately, the variety and differences in the options can be downright disorienting. Here is a quick run-down on the options that you have to achieve debt relief.

Debt Consolidation

Debt consolidation simply means taking out a single loan to pay off a number of other loans. This method can simplify the process by requiring the debtor to only pay a single bill as opposed to keeping up with several. This single loan can offer a better interest rate than the ones before, which can help to pay off the loan faster. One of the risks of debt consolidation is that in order to obtain the loan, individuals must put up collateral in case they default on this single loan. More often than not, the collateral is their home. Additionally, most debt consolidation programs extend terms, which means though the monthly payment is lower, you are in debt longer, thus paying the lender more.

Credit Counseling

Credit counseling involves sitting down with a councilor to discuss how to avoid incurring debts that can’t be repaid. Additionally, it often involves establishing a debt management plan that helps a debtor repay debt. During the process, an individual can learn lots of great information yet in the end, some people who get counseling actually end up paying more than their original debt, according to one study. Credit counseling is also rife with scam artists who can disappear with your money overnight.

Debt Settlement

Millions of Americans have gone through a debt settlement program to handle their credit card debt. For a hefty fee, a debt settlement company will claim to settle your debt with a credit card company for less than the amount you owe. The problem is that debt settlement is an extremely difficult solution to pursue and many settlement companies don’t perform the services that they the process is confusing, costly, and could very well ruin your credit in the process.  

Bankruptcy

Individuals can file for bankruptcy with a qualified lawyer  ..]]></description>
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      <title><strong>Five Steps To Help Avoid Bankruptcy</strong></title>
      <description><![CDATA[According to a 2008 survey by the American Payroll Association, 71 percent of American workers are living paycheck to paycheck. If you are one of the many who live paycheck to paycheck, or if you have fallen behind, here are some tips that can help you get back on track:

Develop a Budget

It seems like a no-brainer, however developing a budget is fundamental to reaching your financial goals. Many people find themselves in debt not out of blatant mismanagement, but because they lack a plan. By creating a budget that accounts for every spending category and dollar that you spend each month, you can see where your money is actually going. By sticking to the budget, you can regain control and be sure that you financial plans are being fulfilled.

Automatic Deduction

Automatic deduction is a helpful way to stick to your budget is by allowing them to be paid directly from a checking account. By setting up automatic deduction, you can be sure that your bills are paid on time and in full.

Cut Excess Expenditures

Trips to the coffee shop and vending machines might seem harmless, but the expenditures add up. If you are living paycheck to paycheck, it is important to streamline your budget in any way possible, and one of the easiest ways to do that is by cutting out any excess expenditures that pop up through the month. Pinpoint where these expenditures occur and either budget for them, reduce them, or eliminate them completely.

Call Creditors and Negotiate a New Payment Plan

If you find yourself falling behind on payments to your creditors, it can never hurt to give them a call and negotiate a new agreement. Your creditors would rather get some money than none at all. By taking the initiative to contact them, you may even win some favor in their eyes.

Be Wary of Credit Scams

By searching the Internet, you would think that getting out of debt is no big deal. After all, there are a million quick and easy ways to get out of debt through debt managemen ..]]></description>
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      <title><strong>What Are Five Benefits of Bankruptcy?</strong></title>
      <description><![CDATA[Bankruptcy is not something to jump into haphazardly. Chances are, if you are considering bankruptcy, you have considered every option possible to dig yourself out of debt. If you are thinking about filing for bankruptcy, you aren’t alone. Last year 1,074,225 individuals and families filed for bankruptcy in the United States.

A common misconception about bankruptcy is that it is a humiliating and miserable experience. However, many who experienced it tell a different story. Here are some benefits of filing for bankruptcy under Bankruptcy Code. 

1) Bankruptcy restructures debt so it is manageable 

The vast majority of people who file for bankruptcy genuinely desire to pay back their debts, they are just financially unable to. Filing for bankruptcy gives debtors a monthly payment plan that is manageable according to their income. By filing for bankruptcy, it is a message to creditors to expect to receive less money in the repayment deal.

2) A third party steps in to administer the debts, taking the burden off of the debtor

Imagine life without screening your calls and mounds of menacing mail. If you have been hounded by debt collectors or collection agencies then a bankruptcy case means relief. Under law, creditors are barred from phone calls or harassment in order to collect debt. For Chapter 13 filings, debtors pay a set monthly amount to an administrator for either three or five years, based upon income and net worth. The administrator distributes payments to the various creditors, leaving you completely out of the process.

3)Lose obligation to pay debts

A bankruptcy case means a discharge of all debts, which also halts lawsuits, prevents garnishments, averts repossessions of vehicles, and stops foreclosures and IRS seizures. In a sense, whatever you were obligated to pay before filing for bankruptcy is wiped out if you follow the agreement.

4) Teaches you to budget

As a part of going through bankruptcy, a debtor must put together a lis ..]]></description>
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      <title><strong>Bankruptcy Property Exemptions</strong></title>
      <description><![CDATA[The process of bankruptcy offers debtors a clean slate when they are overwhelmed by financial burdens. Once a bankruptcy case is completed, however, the debtor will still need basic possessions and assets to move their life forward. Fortunately, the Bankruptcy Code recognizes these basic needs and provides a variety of property exemptions for debtors. If property is exempt, it will not be taken by the trustee and the debtors will be able to keep it through the bankruptcy.  

Under the bankruptcy laws, a debtor is required to submit a schedule or list of real and personal property they own as of the date the case is filed.  In addition, they are required to list all property that they claim as exempt.  The schedule must include a description of the property, specifying the law authorizing the exemption, and list the value of the exemption and its market value. This information allows parties involved in the case to evaluate the exemption claim and submit any legitimate objections within 30 days from the meeting of the creditors. If someone objects, they must prove that the exemption has been improperly claimed.

Every bankruptcy case is evaluated separately but in most cases, the debtor does not have to give up any of their property or necessary possessions. During and after the closing of the case, the exempted property is protected by law. In fact, not only are you allowed to keep the exempted property, but also the equity, if any, that one may have on the property. Equity is the difference between the value of the exempted property and the remaining debt.

Each states exemption laws differ.  Some state allow unlimited homestead exemptions while others allow very little.  The difference between keeping your assets in a bankruptcy case and losing them is often the quality of the attorney that represents you.

If you are seriously considering bankruptcy and you live in Southern California, you need to consult with an attorney who understands the intricacies o ..]]></description>
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      <title><strong>What Happens If I Don’t Make My Chapter 13 Payment ?</strong></title>
      <description><![CDATA[No one plans on dramatic financial changes, but they happen. When changes do arise to an individual in Chapter 13 bankruptcy, they might be misled into believing there is no other option than sticking to their schedule of set monthly payments. But they might be surprised to find that Chapter 13 bankruptcy has a great deal of flexibility. Before we discuss options, it is important to note that payments are not something you want to ignore. You must make all of your Chapter 13 payments in full and on time because if you do happen to miss a payment, the trustee may drop or dismiss your case. Were that to happen, the court cannot protect your property from creditors. However, if you decided that you no longer want to make payments on your Chapter 13 bankruptcy, you do have several options. 

For starters, you can convert the Chapter 13 bankruptcy into Chapter 7. A debtor is eligible to make a conversion to Chapter 7 at any time by simply filling out a ‘Request for Conversion’ form at the Clerk’s office. After that takes place, the debtor no longer has to make Chapter 13 payments. An example where this might be a good option is if a person filed for Chapter 13 for a very specific reason such as trying to catch up on car loan or home mortgage to prevent a loss from foreclosure. However, if the debtor still cannot keep up with payments in Chapter 13, it wouldn’t make sense to make payments any longer, and Chapter 7 would be a favorable alternative. 

The second option, if you no longer want to make payments on your Chapter 13 bankruptcy, is through a voluntary dismissal. This is an option that is free to debtors at any time. If a person filed for Chapter 13 in an attempt to catch up with car or mortgage payments and is successful, they may no longer want to be in Chapter 13. In this option, debtors are no longer required to make monthly payments. However, if this is carried out before, they will not receive a discharge. 

Another option is to amend the Chapte ..]]></description>
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      <title><strong>Does My Chapter 13 Payment Change With My Income ?</strong></title>
      <description><![CDATA[The decision to file for bankruptcy is not one to take lightly. With the multiple bankruptcy plans available and the changes to bankruptcy law that occurred in 2005, it is important to be an informed about options from various scenarios. If you are considering filing for bankruptcy but have concerns about what may happen should your income change, here is an overview of the facts.

Chapter 13 is called the wage earner’s plan and allows people with a regular income to develop a plan for repayment of debt. Under Chapter 13, debtors propose a repayment plan to pay all or a portion of their debt over the period of five years, depending upon monthly income. Chapter 13 is eligible for people who are self-employed or operating an unincorporated business as long as the individual’s unsecured debts are less than $336,900 and secured debts are less than $1,010,650. There is no minimum debt requirement for Chapter 13. For income above median, Chapter 13 must run for five years with expenses determined by IRS collection standards. Below or at the median are eligible for a three-year-plan with payments determined by actual expenses versus IRS guidelines. 

One of the most common questions people have about Chapter 13 bankruptcy is what happens if your financial situation changes during the duration of the plan? After all, a Chapter 13 plan runs from between three to five years and a lot of life can happen in that period of time. What happens if your income changes during that time, can your payments be adjusted?

Fortunately, Chapter 13 bankruptcy does have a great deal of flexibility in case of a change of income or expenses during the duration of the plan. Many times the court can agree to modify your plan to make it work. This often involves a lowering of monthly payments which debtors are obligated to pay.

If your situation changes significantly, Chapter 13 has what is called a “hardship discharge”. This happens when a Chapter 13 plan is confirmed but circum ..]]></description>
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      <title><strong>New Bankruptcy Law Explained</strong></title>
      <description><![CDATA[On October 17, 2005, new bankruptcy law went into effect, changing the process of filing for bankruptcy throughout the United States. This new shift in law requires additional steps to be taken by the attorney and the debtor but has been geared toward benefiting the debtor with the end result. The following details explain the changes in the law and how they will affect anyone considering bankruptcy.

Documentation

The documentation required for filing for bankruptcy has been increased, asking the debtor to provide additional information thoroughly detailing all of their income and expenses. If expenses exceed the IRS allowance, a ‘special circumstances’ document must be submitted explaining the reasons for the extra expenses. A statement of accuracy must also be submitted with the special circumstances document. The additional documentation makes the task of filing more laborious but provides more accuracy to a debtor’s financial dilemma. This could result in more debt relief or less money owed to creditors.

Counseling

In an attempt to decrease the number of people filing for bankruptcy, the new law requires that debtors receive counseling from an approved credit counseling agency within six months prior to filing for bankruptcy. The purpose of the counseling is to ensure that people are not making an uninformed decision to file for bankruptcy. It is also the hope of the court that counseling will provide alternative options for those who truly don’t need to file.

The Means Test

Before the new law, consultations with an attorney would allow the client to choose what type of bankruptcy they felt suited them best. However, the new law is framed to reduce the number of Chapter 7 filings by only allowing people who fall under their median state income, adjusted for family size and inflation, and people who meet rigorous standards under the means test to file for it. The rest of the people who don’t meet these standards must be evaluated by a  ..]]></description>
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      <title><strong>Develop your Business With Wholesale Bags</strong></title>
      <description><![CDATA[If you own a store, then you need to prefer for paper wholesale bags deals. It does not matter whether the shop is a discrete one at the corner of the street or a superstore in a purchasing promenade. Paper handbags are something that people presume to be gifted beside the store. Not doing therefore would make you behold stingy and affordable. But, just because clients suppose you to bestow such handbags does not ignoble you cannot utilize paper pouches to surprise them and improve your trademark image.

Many people create the mistake of packing stuff in ordinary paper pouchs. How wealth time would it have to customize the handbags by the name of your shop and your call information? How much might it cost? Whether you decide for paper [URL=http://www.dhgate.com/wholesale+bags.html]wholesale bags[/URL] purchase and obtain it customized beside the marketer, then the cost per bag might be insignificant. Simply pack the stuff in the customized paper pouch and view your customer discuss the change.

Many clients decide for discrete orders because they are worried approximately storing these handbags. They fear these handbags might lose their stiffness as time goes beside. Properly, you impartial hold to shop them in a cool and dry place. Impartial wrap it in a plastic pouch and you can store it outside any timidity of whatever crack or wear and tear.

If you have thoroughly no space for storage, you can negotiate alongside the marketer and place the order in bulk and adopt deliver of the paper wholesale bags on a monthly foundation. That need to transfer the chief ache of storage of the pouchs upon the trader.

However, the marketer need to be willing to negotiate such pliant terms and conditions for the handbag purchases just whether the steadfast is aware that you have other alternatives higher your sleeve.

Make apply of the texture to obtain in touch by a large number of traders. Simply getting in touch by numerous traders will not be of whatever utilize su ..]]></description>
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      <title><strong>Stop Repossessions with Bankruptcy:How Your Vehicle Can Survive The “Repo Man”</strong></title>
      <description><![CDATA[Falling behind on payments for any type of vehicle happens to the best of us. Sometimes life deals you adversity that you didn't expect. You don’t have the money for it, but if you put off paying the car payment, you can get some other bills paid, and hope that you can catch up next month. Many validate because it could only cost a late charge. It may start with an unexpected medical bill, or a work related layoff or some situation that no one plans for in the budget. 

The problem is trying to explain your situation to your loan company, who don’t really care about personal problems.  They are in business for one purpose, to make money. You made an agreement with them and they want their money or they want your vehicle. Your loan company is not going to tell you your legal rights concerning what you can or cannot do in this situation. They are not in the business of solving your problems, they are in the business of collecting the money you owe them. If it comes to it, they will send a bill collector for the money.

Generally, bill collectors are paid based on how much money they collect. In our experience here at Lincoln Law, this means they will say whatever it takes to get your money. This could mean being nice, or they will try and scare the hell out of you. Whatever works to get your money, they will do. If they can’t get your money, they will come after your vehicle. 

Bill collectors don't have to wait very long after you miss a payment. Most people think they are fine as long as they are not more than two months behind on the payment. The truth is that your car can be repossessed if you are even one day late on a scheduled payment. So why do some bill collectors wait before sending out the “Repo Man”? The car is not their first choice, but if you don’t give them the payment, they will have your vehicle repossessed.

Once the lender has you car, under law, they can sell it and use the money to pay off your debt. In some cases, they will r ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/4877/Stop-Repossessions-with-BankruptcyHow-Your-Vehicle-Can-Survive-The-Repo-Man.php">http://www.buildyourownbusiness.biz/post/index/48/4877/Stop-Repossessions-with-BankruptcyHow-Your-Vehicle-Can-Survive-The-Repo-Man.php</link>
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      <title><strong>Four Questions To Ask a Bankruptcy Lawyer Before Signing</strong></title>
      <description><![CDATA[Bankruptcy law has gone through many changes in recent years, which makes a good lawyer more important than ever for a successful bankruptcy case. It is also important to be fully informed about what a prospective lawyer can offer and what to expect from them. If you are talking to a bankruptcy lawyer, here are four questions to ask them before signing a contract:

Should I file for bankruptcy or do I have other options?

This is a broad question that allows the attorney to cover a lot of ground with you and discuss your options. It allows them to give a recommendation as to whether Chapter 7 or Chapter 13 is a better option for you, or even if there is an option outside of bankruptcy that you haven’t considered. This overview will likely give you a clear understanding of the benefits and negatives of filing bankruptcy and is a good place to start with a prospective attorney. 

Who will actually be handling my case?

Sometimes the lawyer you are speaking to isn’t actually the one who will be handling your case. It is good to know if they plan to pass the case on to someone else. There is typically a single hearing in bankruptcy cases. So if someone other than the lawyer you are speaking with actually goes to court with you, it is a good idea to talk to them as well that way you can be familiar with them and discuss the case with them.

How much of your time is devoted to bankruptcy cases?

Even if an attorney has 20 years of experience, if they only do two or three cases a year, they won’t be as experienced as a lawyer that does bankruptcy work exclusively for a much shorter period of time. Bankruptcy laws have changed, so it is important to know that your attorney is familiar with these changes.

How much do you charge for your services?

This might seem like a no-brainer first question, but it is a good idea to ask it last. First of all, it gives you an opportunity to see all of the other services that the attorney plans to provide. There are ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/4715/Four-Questions-To-Ask-a-Bankruptcy-Lawyer-Before-Signing.php">http://www.buildyourownbusiness.biz/post/index/48/4715/Four-Questions-To-Ask-a-Bankruptcy-Lawyer-Before-Signing.php</link>
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      <title><strong>Does My Chapter 13 Payment Change With My Income?</strong></title>
      <description><![CDATA[The decision to file for bankruptcy is not one to take lightly. With the multiple bankruptcy plans available and the changes to bankruptcy law that occurred in 2005, it is important to be an informed about options from various scenarios. If you are considering filing for bankruptcy but have concerns about what may happen should your income change, here is an overview of the facts.  Chapter 13 is called the wage earner’s plan and allows people with a regular income to develop a plan for repayment of debt. Under Chapter 13, debtors propose a repayment plan to pay all or a portion of their debt over the period of five years, depending upon monthly income. Chapter 13 is eligible for people who are self-employed or operating an unincorporated business as long as the individual’s unsecured debts are less than $336,900 and secured debts are less than $1,010,650. There is no minimum debt requirement for Chapter 13. In most cases where the income is above median, Chapter 13 must run for five years with expenses determined by IRS collection standards. Below or at the median are eligible for a three-year-plan with payments determined by actual expenses versus IRS guidelines.  
One of the most common questions people have about Chapter 13 bankruptcy is what happens if your financial situation changes during the duration of the plan? After all, a Chapter 13 plan runs from between three to five years, and a lot of life can happen in that period of time. What happens if your income changes during that time, can your payments be adjusted?

Fortunately, Chapter 13 bankruptcy does have a great deal of flexibility in case of a change of income or expenses during the duration of the plan. Many times the court can agree to modify your plan to make it work. This often involves a lowering of monthly payments which debtors are obligated to pay.

If your situation changes significantly, Chapter 13 has what is called a “hardship discharge”. This happens when a Chapter 13 plan is ..]]></description>
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      <title><strong>Bankruptcy for Small Businesses</strong></title>
      <description><![CDATA[The entrepreneurial spirit is one of the touchstones of American culture that has made our country so strong. The willingness of driven individuals to step out and risk their financial stability for the sake of a business they believe in has been a catalyst of our country’s growth. However, a recent study by the University of Nevada shows that one in seven bankruptcies are filed by individuals tying to cope with the failure of a small business. While corporations or partnerships cannot file for bankruptcy, Chapter 7 and Chapter 13 are often used by entrepreneurs who are trying to deal with personal and business debt. 

Since small businesses are unincorporated, they don’t have the same restrictions as larger corporations, which means that any business and personal debts are the responsibility of the business owner. So when a small business owner gets in over their head, the business doesn’t file for bankruptcy, rather the individual files. For small business owners who file for Chapter 7 bankruptcy, there are several protections which make it an attractive choice. If you are a sole proprietor, you operate your business by yourself so your business debts are also your personal debts, so they can be dismissed in a bankruptcy case.

There are several benefits for small business owners to file for bankruptcy. First of all, there is uniform protection in the United States on future assets, which offers a fresh start to the debtor. So, if you are a business owner who files for bankruptcy, you can start a new business or a new job without worrying about having future earnings seized to pay pre-bankruptcy debt. 

Another important benefit for small business owners filing for Chapter 7 bankruptcy is exemptions. Exemptions vary from state to state and are set values above which debtors must surrender property. States with higher exemptions are more attractive to debtors because it protects more of their property. It is important to note that for small businesses f ..]]></description>
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      <title><strong>What Happens If I Don’t Make My Chapter 13 Payment?</strong></title>
      <description><![CDATA[No one plans on dramatic financial changes, but they happen. When changes do arise to an individual in Chapter 13 bankruptcy, they might be misled into believing there is no other option than sticking to their schedule of set monthly payments. But they might be surprised to find that Chapter 13 bankruptcy has a great deal of flexibility. Before we discuss options, it is important to note that payments are not something you want to ignore. You must make all of your Chapter 13 payments in full and on time because if you do happen to miss a payment, the trustee in charge of your case may drop or dismiss your case. Were that to happen, the court cannot protect your property from creditors. However, if you decide that you no longer want to make payments on your Chapter 13 bankruptcy, you do have options. 

For starters, you can convert the Chapter 13 bankruptcy into Chapter 7. If they do convert the case, the debtor no longer has to make Chapter 13 payments. An example where this might be a good option is if a person filed for Chapter 13 for a very specific reason, such as trying to catch up on a car loan or home mortgage to prevent a loss from foreclosure. However, if the debtor still cannot keep up with payments in Chapter 13, it wouldn’t make sense to make payments any longer, and Chapter 7 would be a favorable alternative.   If you are represented by an attorney already, however, you do not want to convert your case without first speaking with your attorney.

The second option, if you no longer want to make payments on your Chapter 13 bankruptcy, may be a voluntary dismissal. This is an option that is usually available to debtors at any time. If a person filed for Chapter 13 in an attempt to catch up with car or mortgage payments and is successful, they may no longer want to be in Chapter 13. In this option, debtors are no longer required to make monthly payments. However, if this is carried out before, they will not receive a discharge. 

Another option is t ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/4685/What-Happens-If-I-Dont-Make-My-Chapter-13-Payment.php">http://www.buildyourownbusiness.biz/post/index/48/4685/What-Happens-If-I-Dont-Make-My-Chapter-13-Payment.php</link>
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      <title><strong>The Role of a Trustee in a Bankruptcy Case.</strong></title>
      <description><![CDATA[Ok, you are getting a fresh start on your financial situation by filing for bankruptcy. One of the important players that you are going to be interacting with in the case is a bankruptcy trustee. A bankruptcy trustee is a lawyer assigned to oversee your bankruptcy case. Their role in the case differs as to whether your bankruptcy case is Chapter 7 or Chapter 13.

In Chapter 7 Bankruptcy
In a Chapter 7 liquidation case, a trustee is selected at random from a panel of lawyers. Their main goal is to sell property and distribute the proceeds to creditors. In this process, a trustee sits down with the debtor during a “341 meeting” and asks them questions about their assets and financial affairs. From there, trustees review bankruptcy documents and is entitled to ask questions to find out if any nonexempt property, assets, or items can be seized by the trustee and sold to satisfy debts.

In Chapter 13 Bankruptcy
In a Chapter 13 reorganization, a trustee’s role differs somewhat from a Chapter 7 bankruptcy. A debtor still meets with a trustee in a 341 meeting and is asked about assets and financial affairs. However, the trustee cannot take any of their property or assets. Instead, they assess the bankruptcy plan to see if it fits technical requirements and if it seems like it has a reasonable chance of success in repayment. Additionally, many trustees in Chapter 13 offer financial counseling and management.

A Reminder
It is important to to remember a couple things about a bankruptcy trustee in order for a case to run smoothly and carefully. First of all, they aren’t your enemy who is seeking to suck you dry of all of your money. Their main goal is not to pick through your possessions to sell them off. In fact, most are quite reasonable people who are simply trying to do their job. In relating to a trustee, a debtor first of all needs to be honest. That includes an accurate listing of your assets because inaccurate disclosure can lead to criminal prosecutio ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/4683/The-Role-of-a-Trustee-in-a-Bankruptcy-Case.php">http://www.buildyourownbusiness.biz/post/index/48/4683/The-Role-of-a-Trustee-in-a-Bankruptcy-Case.php</link>
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      <title><strong>How Flexible is Chapter 13 Bankruptcy?</strong></title>
      <description><![CDATA[One of the most common questions about Chapter 13 bankruptcy is what happens if your financial situation changes during the duration of the plan? After all, a Chapter 13 plan runs from between three to five years and a lot of life can happen in that period of time. What happens if you or your spouse lose a job, get sick or in an accident and incur medical expenses, or have a change in family size?

Fortunately, Chapter 13 bankruptcy does have a great deal of flexibility in case of a change of income or expenses during the duration of the plan. Many times the court can agree to modify your plan to make it work. This often involves a lowering of monthly payments which debtors are obligated to pay. 

Other times, the changes may need to be made even before a first payment is sent. Sometimes debtors are still unable to pay their mortgage even with the restructuring of their debt in Chapter 13. In cases such as this, modification is necessary. If the situation that you are experiencing is only a short term problem, the court may grant a moratorium in payments if it will allow you an opportunity to recover from an illness, one-time expense, or some other temporary cash flow problem.

If your situation changes significantly, Chapter 13 has what is called a “hardship discharge”. This happens when a Chapter 13 plan is confirmed but circumstances come up that prevent the debtor from completing the plan. However, there are stipulations to a hardship discharge which make it available only if: the failure to pay comes from circumstances beyond the debtor’s control, creditors have received at least as much money as they would have received under Chapter 7 where assets are liquidated, and if modification of the plan is impossible. 

If you are seriously considering bankruptcy and you live in California, you need to consult with a California bankruptcy lawyer. While the process is complicated, they will be able to help you understand your options and help you avoid ma ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/4521/How-Flexible-is-Chapter-13-Bankruptcy.php">http://www.buildyourownbusiness.biz/post/index/48/4521/How-Flexible-is-Chapter-13-Bankruptcy.php</link>
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      <title><strong>How Healthcare Compliance Programs Save Your Practice &amp; Freedom</strong></title>
      <description><![CDATA[Healthcare providers across the country are now being targeted for healthcare fraud investigations. Many of those providers are clueless. They don't even know why they're being investigated. 
 
Are Your Actions Causing You to Become a Target for a Healthcare Fraud Investigation? 
 
Do you engage in one or more of the following:

 
- Accept what the insurance carrier offers, without question 
- Work with 3rd- party liability carriers and accept what your patients give you once they receive settlement, and accept your patient's account of settlement negotiations 
- Allow your patients to retain an attorney to handle 3rd-party liability claims, and you accept the attorney's offer of settlement without question
- Work consistently with a limited number of external providers (physicians, surgeons, neurologists) 
- Fail to read the Explanations of Benefits (&amp;quot;EOBs&amp;quot;) in which the insurance carrier identifies the reasons for denial. 
- Consider peer reviewers' reports as nuisances and as costs of doing business with insurance carriers. 
- Not bother to read, or don't receive, Controverting Affidavits in which both reasons for denial are reported and aberrant practices are alleged. 
- Fail to respond to Controverting Affidavits in which reasons for denial are reported.
- Fail to respond to Controverting Affidavits in which aberrant practices (unbundling of services, medically unnecessary services, medically unnecessary referrals) are alleged, because you either consider such allegations harmless or you have neither the time nor ability to provide a response challenging such allegations. 
 
If the answer is yes, then you need to consider a healthcare compliance program! 
 
While you can rationalize to yourself that these issues are just the cost of doing business, a nuisance and can be ignored, the consequences can be disastrous. 
 
How to Save Your Practice, License, and Freedom If You Have Become the Target of a Healthcare Fraud Investigation?  ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/2420/How-Healthcare-Compliance-Programs-Save-Your-Practice--Freedom.php">http://www.buildyourownbusiness.biz/post/index/48/2420/How-Healthcare-Compliance-Programs-Save-Your-Practice--Freedom.php</link>
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      <title><strong>How to Hire Foreign National Employees Without Violating US Immigration Law</strong></title>
      <description><![CDATA[Whether you are a large corporation or start-up, your company depends on hiring the best and brightest employees. Often, employers need to transcend borders to fill key positions. Hiring and retaining foreign national employees without violating immigration laws requires knowledge and avoidance of the most common pitfalls. 
 
Five Strategies to Effectively Hire Foreign National Employees &amp;amp; Overcome the H-1B Cap 
 
1. Avoid the wait
 
Obtaining a new H-1B visa is akin to winning the lottery. So getting it right from the start is essential. Many employers cannot wait until April 1st to file a new H-1B petition for a candidate that will begin employment on October 1st of that same year. As a result, filing a new H-1B petition often is not feasible. 
 
Consequently, many of my clients are hiring employees already in H-1B status. This is called an &amp;quot;H-1B transfer.&amp;quot; In this case, prospective employees can work for you, if they: 
 
- Are admitted lawfully to the U.S.
- Maintained lawful status 
- Worked in lawful status 
 
You must also make sure your new petition was filed prior to the expiration of the employee's current H-1B status. 
 
2. Get more time with the 7th year extension
 
An H-1B visa is granted for three years, but can be extended for three more years for a total of six years.
 
The &amp;quot;seventh year extension&amp;quot; under the American Competitiveness in the 21st Century Act (AC21) affords your candidate the right to extend his H-1B visa beyond the six-year limit, in one-year increments. However, the labor certification, or I-140 petition or adjustment of status application (based on an approved certification), must be pending for more than 365 days from the date the labor certification or I-140 was filed. 
 
3. Find out if your H-1B applicant is eligible for the three-year extension beyond the six-year limit?
 
If your prospective employee has an approved I-140 employment-based immigrant petition but is unable to adjust s ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/2342/How-to-Hire-Foreign-National-Employees-Without-Violating-US-Immigration-Law.php">http://www.buildyourownbusiness.biz/post/index/48/2342/How-to-Hire-Foreign-National-Employees-Without-Violating-US-Immigration-Law.php</link>
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      <title><strong>The Theft is Fine, If the Stuff is Mine...OJ Simpson Choices!</strong></title>
      <description><![CDATA[&amp;quot;If it doesn't fit, you must acquit,&amp;quot; became Johnny Cochran's mantra as he tried to convince jurors that the case laid out by prosecutors is inconsistent and full of holes. This was reported on CNN.com on September 28th, 1995. Now, some twelve years later, OJ is back in the news with a new set of legal problems. This time what will the mantra be: “The theft is fine if the stuff is mine?”

Every choice has a consequence. OJ is just another person who seems to be having a hard time figuring that out. Of course, his celebrity keeps him in the news and gives us all an opportunity to see universal laws at work. Perhaps, it would serve the greater good to look at OJ’s choices and the consequences that followed.

Whether OJ Simpson is guilty of killing Nichole Brown Simpson and Ron Goldman is not a subject of debate. Clearly, a jury has found OJ innocent of capital murder. Yet, OJ made, before and throughout the trial, himself a target by his behavior. Leading police on a nationally televised police chase didn’t represent a choice that fostered a feeling of innocence. Does it make him guilty? No. But, the choice he made had a consequence – at a minimum the consequence was doubt as to his innocence. That doubt still exists today.

Now, twelve years later OJ is back in the media with a brush with the law. According to Fox news…”On Tuesday, prosecutors charged Simpson with 11 criminal offenses in all, including the first-degree kidnapping charge.

Simpson was arrested Sunday after a collector reported a group of armed men charged into his hotel room at the Palace Station casino and took several items that Simpson claimed belonged to him. He has been held since then in protective custody in a 7-foot-by-14-foot cell.

The Heisman Trophy winner was charged with kidnapping, robbery with use of a deadly weapon, burglary while in possession of a deadly weapon, coercion with use of a deadly weapon, assault with a deadly weapon, conspiracy to commit  ..]]></description>
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      <title><strong>UCC Filings &amp; Small Business Law</strong></title>
      <description><![CDATA[The Uniform Commercial Code, or UCC, is an excellent tool for business owners to protect themselves with small business laws as both creditors and as debtors. Using UCC filings to your advantage can stretch your credit with both lenders and vendors. Likewise, as a creditor, if you keep active UCC filings on your biggest customers, you can protect your business against a client's nonpayment. For example, if you have a nonpaying customer and bring a lawsuit against them, you may wait months for a judgment, and you might not be adequately compensated even if the lawsuit rules in your favor. As a small business owner, you could avoid court all together by instead asking this non-paying customer for a UCC filing from the beginning.

Using a security agreement and a UCC-1 form is the best way you can insure your receivables. In a nutshell, a UCC places a lien against a particular small business asset. As a debtor, negotiating a UCC or security agreement with a key vendor will probably get you a larger credit line. However, you should minimize that vendor's claim on your asset(s) on which the UCC is placed. It is important to negotiate very clear terms within each UCC filing or security agreement. Be very careful to make sure the credit line you are getting from the vendor is worth the asset(s) you are putting at risk. Remember: if you allow the lender to specify all of your business assets, you are giving that creditor the ability to seize everything you’ve got.

As a creditor, filing a UCC means that you have an additional advantage over other creditors for that particular asset on which the UCC was made. However, you want to check that your customers aren’t already wound up in a UCC on that particular asset. It's usually the Secretary of State that records the UCC, but in some states you may have to file with the county recorder. Laws vary slightly from state to state, so speak with your attorney before wrapping yourself up in a UCC filing or security agreement. ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/2163/UCC-Filings--Small-Business-Law.php">http://www.buildyourownbusiness.biz/post/index/48/2163/UCC-Filings--Small-Business-Law.php</link>
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      <title><strong>Michael Vick - My Game Went To the Dogs – Choices and Consequences</strong></title>
      <description><![CDATA[Most everywhere you turn when looking at sports these days you’ll see and hear stories about the prosecution of Michael Vick, the Atlanta Falcons football star quarterback. Expecting to be prepared to advance his career, Vick is now considering his options as to whether to accept the government’s plea deal. 

As stated in the White Collar Crime Prof Blog, “A best-case scenario for Vick that the defense lawyers may be seeking is a &amp;quot;Martha Stewart&amp;quot; double-nickel sentence: five months in prison, five months of home confinement. The government's offer would most likely call for a term of a year-and-a-day, which under the Bureau of Prisons guidelines would allow Vick to receive a 15% good time credit, reducing his sentence by 54 days to a bit over ten months. Any sentence under a year that his attorneys are trying to negotiate would have to come in under ten months for it to be an advantage because there is no good time credit if the sentence is a year or less.” http://www.chuckgallagher.com

Not only does it look difficult for Vick, but others who were charged in this Federal dog fighting conspiracy accepted plea agreements and decided to cooperate with the government. So, at this writing, it would seem that Vick is in the proverbial “dog house.” His actions have had multiple and far reaching consequences. 

It seems that Nike and Reebok have given Vick the boot. According to ESPN.com news services, “Nike suspended its lucrative contract with Michael Vick on Friday, while Reebok took the unprecedented step of stopping sales of his No. 7 jersey.” Likewise, Donruss, a major trading card company pulled Vick from future releases and Upper Deck removed autographed material from its on-line stores. And finally, Rawlings decided to end its relationship with Vick due to the conspiracy charges. All of these changes have huge financial implications.

All of the above consequences came directly as a result of Vick seeming to enjoy a non-football p ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/2103/Michael-Vick--My-Game-Went-To-the-Dogs--Choices-and-Consequences.php">http://www.buildyourownbusiness.biz/post/index/48/2103/Michael-Vick--My-Game-Went-To-the-Dogs--Choices-and-Consequences.php</link>
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      <title><strong>You’re Not Dishonest If You Don’t Get Caught!</strong></title>
      <description><![CDATA[The formal part of the presentation I was making to a church youth group had just finished, when I asked the group if they had any questions.  One girl lifted her hand nervously and then asked, “What did your children think about their daddy going to prison?”  That question caused me to pause.  I wasn’t sure I could answer.  I knew what they felt.  We shared that with each other often, but I wasn’t sure I ever looked at it from the mental perspective only.

The consequences of my choices were devastating.  My marriage was destroyed. It’s hard to share a life together when you destroy someone’s trust.  My career was over.  When you are guilty of embezzlement you will not keep your license or job as a CPA.  My assets were gone.  Making restitution meant selling all that I had accumulated and then seeking the help of family and friends.  Frankly, that was part of the consequence.  Facing prison – well that was rock bottom.  The “somebody” that I was once known as, had changed to being the “somebody” that few wanted to know.

All that said, the one thing that did survive, by the grace of God, was the love of my two sons.  They were both old enough to understand what I had done and what was happening.  And, I made a commitment that I would tell them the whole truth.  I may have made serious mistakes, but I had no intention to continue that process by deceiving my children.  I made mistakes; however, I was not the mistake.  If any good would come from this, my sons would understand that every choice has a consequence.  I was living proof.

As soon as I finished my answer, out of the back of the room a young man blurted out, “You’re not dishonest if you don’t get caught!”  I was stunned.  As a motivational speaker and founder of the Choices Foundation, a non-profit organization dedicated to bringing the message of choices and consequences to young people, I had just finished a presentation that clearly, and unequivocally, said there is a ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/2061/Youre-Not-Dishonest-If-You-Dont-Get-Caught.php">http://www.buildyourownbusiness.biz/post/index/48/2061/Youre-Not-Dishonest-If-You-Dont-Get-Caught.php</link>
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      <title><strong>Suze Orman: IRS Tax Refund Policy</strong></title>
      <description><![CDATA[In March of 2007, Suze Orman discussed the new IRS tax refund policy that small business owners need to consider for their own benefit and the benefit of their employees. For the first time in IRS tax history, states Orman in her Money Matters column, taxpayers on the receiving end of a federal tax refund will have the option of telling the IRS where to send their tax refund. Suze Orman informs taxpayers that they can instruct the IRS to send their federal tax refund via direct deposit into an existent account at any financial institution. A point that Suze Orman stresses in her Money Matters article is that taxpayers can now circumvent the temptation to spend their IRS tax refund right away by depositing it into an investment account or a retirement account.

Suze Orman reports that the IRS tax refund policy allows the taxpayer to direct their federal tax refund into up to three different accounts at three different financial institutions. Suze Orman strongly encourages taxpayers to take advantage of the offer by the IRS. In her Money Matters column, Suze Orman delivers the financial evidence to back her statement, beginning with the fact that in 2006 the average federal tax refund was $2,700. Orman goes on to suggest that by having the IRS deposit tax refunds money into a Roth IRA invested in a low-cost index fund or ETF, taxpayers can look to turn their tax refund into $29,000 based on an average annual return of 8% over 30 years. 

Suze Orman’s pleasure with the new IRS tax refund policy is overshadowed by her view on tax refunds in general. In her Money Matters article, Orman says, “The fact is that tax refunds are a sign that you’re wasting money.”  Suze Orman’s position on the matter of tax refunds is clear; getting a tax refund means that a taxpayer is pouring money into the federal government’s coffers over the period of a year that they could have been using for their own gain. Suze Orman offers investment and retirement strategies for taxp ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/2025/Suze-Orman-IRS-Tax-Refund-Policy.php">http://www.buildyourownbusiness.biz/post/index/48/2025/Suze-Orman-IRS-Tax-Refund-Policy.php</link>
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      <title><strong>The Watchful Eye Of An Employer Can Invade The Employee's Privacy</strong></title>
      <description><![CDATA[Employers can be liable for secretly placing a video camera in an employee's office, even if the employer does not view any of the video. An employer must control his watchful eye and use it in limited circumstances.

A California employer, who operates a residential facility for abused children, placed a camera in an office to determine who was accessing pornographic websites at night. The camera was activated at all times in the office. The employer told a few employees about the camera, but not the female employees occupying the office, because the employer feared that these talkative employees may inform the perpetrators. While the camera was activated, a female employee who occupied the office, on occasion, closed the door, pulled down the shade to show her coworker how she was recovering from child birth. The employer was tagged with invasion of the employees' privacy. It did not matter if the employer viewed the videotapes or not. The fact that the employer had access to viewing was enough to invade the employees' invasion of privacy. The employees had an expectation of privacy that when the door to their office was closed, images of them in the office would not be transmitted.

Employer video surveillance is permissible in widely accessible areas because there are little expectations of privacy. For example, a room in a janitor break room was found to be permissible because the room was readily accessible to others. Jails are another place where the expectation of privacy is low. In a Sacramento jail, money was missing from a jail release office. A camera was installed to focus on the safe and the cash register area. The officer used the office for playing cards, working on his checkbook and his fantasy football league. The court held that the hidden camera was not unconstitutional because of the diminished expectation of privacy in a jail. The expectation of privacy is also low in bars and cafes. However, bathrooms have a higher level of privacy. In Cal ..]]></description>
      <link rel="alternate" type="text/html" href="http://www.buildyourownbusiness.biz/post/index/48/1520/The-Watchful-Eye-Of-An-Employer-Can-Invade-The-Employees-Privacy.php">http://www.buildyourownbusiness.biz/post/index/48/1520/The-Watchful-Eye-Of-An-Employer-Can-Invade-The-Employees-Privacy.php</link>
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      <title><strong>Understanding Copyright</strong></title>
      <description><![CDATA[When you create original content, it is automatically copyrighted, but you should know about copyrights and how to specifically mark your work.  Also, establishing the date of creation is very important.

The basis for copyright law in the USA is found in the United States Constitution in Article 1, Section 8, Clause 8 as follows:

To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.

The first copyright law was the Copyright Act of 1790.  We are currently operating under the Copyright of 1976 as amended.

Copyrights have a term of the life of the author plus 70 years.  We Boomers can thank Sonny Bono (Sonny and Cher) for this.  The Copyright Term Extension Act of 1998--alternatively known as the Sonny Bono Copyright Term Extension Act set the current term of copyrights.

When you write original content, it is copyrighted even if you do not specify &amp;quot;Copyright&amp;quot; or use the &amp;quot;circle C&amp;quot;  © copyright symbol.

However, it is best to declare your works are copyrighted.  The proper way to do this is &amp;quot;Copyright © (Date of first Creation) ( Name of author).

The best way to approach using any information that you have not created yourself is to consider that it is copyrighted.

To copyright an item, you must establish a dated record of some type when you first created the item so you can prove the date of the copyright if someone challenges you.  The earliest date will get the copyright.  Before computers, a technique was to write the piece and have it notarized or witnessed.  Another technique was to enclose the item in an envelope and mail it to yourself.  The postmark established the date.

Now we have computers that record the date of file creation for anything we record on them.  This date becomes the date of the copyright.

All you have to do to copyright something is to create it and follow the previously  ..]]></description>
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      <title><strong>Litigation can put you out of business in a heartbeat</strong></title>
      <description><![CDATA[Many companies underestimate the potential gravity of getting into litigious situations. Lawsuits, especially in cases where one does not have strong legal legs to stand on, are potential minefields for disaster. Many organisations work hard to grow the top line only to have a lawsuit siphon off the money. It is like having a purse with holes in it. Regardless of whether you win or lose the lawsuit, the ultimate winner is the lawyer. Unfortunately if your company happens to be the loser, the magnitude of the costs and damages could possibly derail your business overnight.

Visit www.corporateturnaroundexpert.com for more information Many contractors in Singapore also got themselves into trouble by taking on contracts indiscriminately despite poor margins, unrealistic deadlines and liabilities. Eventually, they were held liable for massive liquidated damages for delays in completion and consequential damages resulting from their work. The risks involved were disproportionate to the returns from such jobs. Some of these sub-contractors were hopeful that they could make money from variation orders or additional scope of work not stipulated in the original contract. However, these variation orders were not properly signed off before the additional work was executed as a result some main contractors took advantage not to pay in times of contractual disputes. Also, projects often get delayed for many uncontrollable reasons and that these sub-contractors had to contend with counter claims and back charges from the main contractors.

In many cases, these sub-contractors could not afford a protracted litigation battle and had to settle out of court with the main contractors for an unfavourable settlement. Many of these sub-contractors would be been spared the headaches if they had avoided taking on such onerous contracts. Be wary of the ramifications of litigation especially in the case of China. An effective strategy in China means understanding the myriads of legal and ..]]></description>
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      <title><strong>Self-Employed Taxes: Helping You Know Your Responsibilities</strong></title>
      <description><![CDATA[1. Estimated Tax Payments: If you are a sole proprietor, a partnership, or a shareholder in a Sub-chapter S corporation, you are considered self-employed. Since you don't have an employer deducting taxes from your pay throughout the year, you are responsible for making advance payments of your estimated federal income tax. Estimated tax payments are due quarterly - on April 15, June 15, September 15, and January 15 - and are filed on a Form 1040-ES. At the end of the tax year, you will file a final Form 1040 with a Schedule C, which itemizes your business expenses for the whole year.

To avoid underpayment penalties - which are substantial - individuals whose adjusted gross incomes were under $150,000 need to have paid at least 100 percent of their prior year's tax bill. People whose incomes were over $150,000 need to have paid 110 percent of the amount they owed in the prior year.

It's in your interest to make your estimated tax payments during the year. This system also keeps you from owing a large sum of money all at once, which can be overwhelming. If your state of residence has income taxes, as most do, you will have to make estimated tax payments throughout the year for state taxes as well.

2. Self-Employment Tax: Your estimated tax payments will also include the federal self-employment tax - Social Security and Medicare. If you were employed by someone else, your employer would pay half of your Social Security and Medicare and the other half would come out of your paycheck. Self-employed people must pay the full amount themselves; however, 50 percent of the self employment tax is deductible on the 1040 form.

What if you are a salaried employee and you operate a home-based business as a sideline? In this case, you'll be filing both the usual Form 1040 and a Schedule C for your home business deductions; you may also have to pay additional self-employment tax. No matter how little your sideline income is, you should be aware that it is subject to tax  ..]]></description>
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      <title><strong>Starting A Business: Learn What Legal Paperwork You Need</strong></title>
      <description><![CDATA[Getting A Business License: Once you have met with the zoning and business license departments and have determined that your business meets all the specific requirements for operation as a home-based business, you are ready to officially apply for the license. Business licenses are generally issued through the city or county clerk's office and require completion of an application form. The most common information asked will cover business name, type of legal structure, location, type of business, number of employees, expected gross income and vehicles to be operated. Upon submission of the application and fee, the application will be reviewed prior to being issued. The license is renewed annually, subject to adherence to the city's codes and regulations.

Filing Your DBA: If you plan to conduct your business under a fictitious name, you must file a DBA, which stands for &amp;quot;Doing Business As.&amp;quot; It may also be referred to as the Fictitious Name Statement. A fictitious name is any business name that does not contain your full legal name as a part of it. In some states you will be required to file a DBA even if you are using your legal name.

The purpose of the DBA is to inform the general public that you are beginning an operation under an assumed or fictitious name and that you are the individual who will be conducting that business. It must be published in a general circulation newspaper in the county in which your business is located. The ad generally must run in four consecutive issues. During this time, anyone may challenge your right to do business under that name. Following publication, verification must be filed with the city or county clerk.

The DBA gives you the exclusive right to use the name and keeps others from using the same or similar name. The time and money spent is very small compared to the benefits you will derive from becoming the owner of your business name.

Obtaining A Seller's Permit: A seller's permit number is required of any ..]]></description>
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      <title><strong>Forms of Ownership</strong></title>
      <description><![CDATA[One of the first decisions that you will have to make as a business owner is how the company should be structured. This decision will have long-term implications, so consult with an accountant and attorney to help you select the form of ownership that is right for you.

In making a choice, you will want to take into account the following: - Your vision regarding the size and nature of your business. - The level of control you wish to have. - The level of structure you are willing to deal with. - The business' vulnerability to lawsuits. - Tax implications of the different ownership structures. - Expected profit (or loss) of the business. - Whether or not you need to reinvest earnings into the business. - Your need for access to cash out of the business for yourself.

Sole Proprietorships The vast majority of small businesses start out as sole proprietorships. These firms are owned by one person, usually the individual who has day-to-day responsibilities for running the business. Sole proprietors own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts. In the eyes of the law and the public, you are one in the same with the business.

Advantages of a Sole Proprietorship - Easiest and least expensive form of ownership to organize. - Sole proprietors are in complete control, and within the parameters of the law, may make decisions as they see fit. - Sole proprietors receive all income generated by the business to keep or reinvest. - Profits from the business flow directly to the owner's personal tax return. - The business is easy to dissolve, if desired.

Disadvantages of a Sole Proprietorship - Sole proprietors have unlimited liability and are legally responsible for all debts against the business. Their business and personal assets are at risk. - May be at a disadvantage in raising funds and are often limited to using funds from personal savings or consumer loans. - May hav ..]]></description>
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      <title><strong>Business Laws: What you Need to Know</strong></title>
      <description><![CDATA[There are a myriad of things you must think about when opening any type of business whether it is a small business or a large corporation and one of those is how business law may affect you. Failure to pay attention to business and corporate law can land you in a world of trouble-both legal and financial. 

The good news is that you do not necessarily need to be a graduate of a fancy business law college or have a business law major to brush up on the basic ideas of small business law and corporate business law. If you've paid attention to the headlines lately, you probably know that employment law for business is one of the number one areas where you can get into trouble if you aren't up on all the employment laws and regulations.

There are numerous laws that govern the employment of both regular employees and contract employees. Just for a broad overview, take a look at all the employment business laws you must meet:

 Civil Rights Act of 1966.

 The Equal Pay Act of 1963

 Americans with Disabilities Act 

 The Immigration Reform and Control Act of 1986 

 The Age Discrimination in Employment Act 

 The Equal Employment Opportunity Act 

 The Bankruptcy Act 

 The Occupational Safety and Health Act 

 FMLA, the Family Medical Leave Act 

 Employee Polygraph Protection Act Labor Law 

 FLSA, the Fair Labor Standards Act 

And that's not even counting the various state employment business laws that might apply to your business! If you aren't sure of whether you are meeting all the regulations, it's a good idea to get a checkup for your HR department. Do you happen to work in the international arena? If you have anything at all to do with international business, then you should be aware of the many ways in which international business law can affect you, your business and your bottom line.

At a minimum, you need to make sure that you meet general international business laws, specialized export laws, import laws a ..]]></description>
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      <title><strong>Step by Step guide to Intellectual Property: PART 2</strong></title>
      <description><![CDATA[Managing your IP and Unlocking The Value Of Your Creativity STEP-BY-STEP

STEP 1 - IDENTIFY YOUR INTELLECTUAL PROPERTY

 List any creative 'assets' - your intellectual property, from your logo and company name/brand, to your packaging design, products and software.

 Check your designs, expressed ideas and concepts and creative works are new and original.

STEP 2 - PROTECT YOUR INTELLECTUAL PROPERTY

 Put in place a simple confidentiality agreement with a client, potential manufacturers or investors BEFORE you start negotiations. You can download free sample contracts from http://www.own-it.org. A well drafted agreement will specify the type of information to be protected, how long the duty of confidentiality is to last and to whom the information may be disclosed.

 Register designs, patents and trade marks, visit http://www.patent.gov.uk

 Secure domain names to safeguard your brand.

 Agree terms and get everything in writing. When approaching manufacturers you should strive to get various agreements in place, such as a confidentiality agreement, prototype agreement (whereby the factory agrees to make a sample to your specifications), heads of agreement and manufacturing agreement.

 Catalogue everything that you have. Keep good records, including your sketches, notes, drafts, diagrams, contracts, letters and e-mail communications. Strive to keep all work in progress and a 'design' or working story.

 Assert your rights. Mark the author/publisher or creators name on all copies of your work, along with the date and country. © (Name of owner) (Year of creation).

 Put registered design rights and other IP renewal dates in your diary. Never forget IP rights or domain name renewals.

STEP 3 - EXPLOIT YOUR INTELLECTUAL PROPERTY Managing and exploiting your biggest asset, your IP, will help your business make more money - to do this you need to:

 Ensure any designs, trade marks and patents you register or apply for are th ..]]></description>
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      <title><strong>Step by Step guide to Intellectual Property: PART 1</strong></title>
      <description><![CDATA[Doing The Rights Thing

Intellectual property has been a hot news topic recently. From the Chinese planning new IP laws to combat illegal downloads, and former FT Editor, Andrew Gowers leading an independent review into IP rights in the UK, to the thorny issue of digital rights management that has been highlighted with the French passing a new copyright law. The world of IP has been an eventful place of late. So, as a creative business or person, how do you protect, exploit and manage your intellectual property effectively? Cheryl Rickman, from Own It, provides a step-by-step guide.

What Is Intellectual Property?

From the music we listen to and the books we read, to the computer software and products we use in our daily lives, each is a product of human creativity, and that creativity is protected. It is these creations of the mind, once expressed, that make up intellectual property (IP).

There is no IP protection in the UK for ideas or concepts, only for expression of those ideas or concepts.

So, products, technical solutions and new inventions are protected by patents and design rights; literary, artistic, dramatic and musical works are protected by copyright; and brand names, words, sounds and even smells are protected by trade marks. (Even the 'smell of freshly cut grass' has been trade marked by a Dutch perfume company that uses it to give tennis balls their aroma).

Therefore, in business, everything, from your own designs, software, brand, packaging and logo should be protected. In a nutshell, all of your mental and creative 'outputs' can be transformed into tangible 'commodities' so that you can licence, sell, trade, divide or retain your rights to those 'commodities'.

What Can Be Protected And How So?

Patents protect inventions, design rights protect 2D and 3D designs and copyright protects dramatic, artistic, literary and musical works.

PATENTS: A patent is a legal document that grants the owner absolute rights (a monopoly) to prod ..]]></description>
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