whats involved going bankrupt..?

I have no other option ive paid and iv for 2 years… i dont need to know its the last resort.. its m only option im not going to give you my life story but im an honest girl who used to work 70 hour weeks working 2 jobs.. i would like to know if its really scary and if u have to do much a court.. ive filled out the forms but im worrying myself physically sick about whats happens to me… can anyone share an experience please

It was pretty painless for me.
I lost my job (downsized) and lived on pretty much nothing for a while.
Went to a lawyer, he filed the paperwork, and a few weeks later we both went to the courthouse for the hearing. It was in a meeting room, and all I did was answer a couple questions. I kept my car (by continuing to pay the loan), and the rest of my debt was wiped out. Since I had no house, or any possessions worth any money, everything was erased. I walked away, and just use cash for everything now.
I later learned about Dave Ramsey and have been doing his budget style.

Published on 03 May 2010 in going bankrupt, by admin

2 Comments >>

What happens to your money if your nation goes bankrupt?

If the United States goes broke our money would become worthless right? How can someone protect themselves just in case this happens? Keep a stash of Gold or money from other countries? Please, no "The US will not fail" answers, this is just a curious what-if scenario question. Any country can go broke so this doesn’t just involve the US.

The US is already broke. We have been a "debtor nation" since the 1990’s. We owe more money than we have. We owe trillions of dollars to the Chinese, among others. To deal with this, the govt prints more money, which leads to inflation. Right now there’s no inflation, but at some point all this printing of money (not backed by anything) will come due, and inflation will return big-time (like in the 1970s).

Your personal money won’t become totally worthless, but it will buy less and less each year. If the US did a serious devaluation of the dollar, your money could become worth as little as 10% on the dollar. Probably not a realistic probability, though, but a possibility. It’s happened to lots of other countries. Italy, France, Russia to name a very few. Old people’s savings in those countries did become worthless.

What can you do? Nothing. You couldn’t keep enough gold on hand to survive. Plus ordinary people don’t deal in gold in the US (not like countries where women collect gold jewelry as "insurance"), can you see yourself offering gold at the grocery store? Other countries’ currencies is even riskier, because you lose money when you exchange from dollars, and when you change back. Solution? Hope that the govt can get the country back on track so we’re all earning a decent living so we can pay taxes to repay the trillions we owe. Someday. If not, ????

Published on 29 Apr 2010 in going bankrupt, by admin

2 Comments >>

The US Government is not an Independent Self Funded Entity – Regardless of How the 535 Members of Congress are Acting

by G. Hugh Bodell

Over the past few months, as a result of conversations with friends, relatives, colleagues and acquaintances I have come to a startling but more importantly a scary conclusion.  There appears to be a perception that the US Government has funds that either were in storage or will emerge from some private stash to rescue everyone or entity in financial trouble.

This commentary is truly intended to be a non-partisan piece.  My concern is not that any one group is the cause or will be the cure of our current economic woes.  My objective is to address an apparent disconnect between the 306 million citizens of this great country and the trillions of dollars being spent or committed by an assemblage of 535 out of control middle men and woman, some call congress, I call self appointed loan brokers.

First, let me make one statement that is the corner stone of my commentary today.  Regardless of the economic system under which one lives, capitalism, modified capitalism/socialism or full-blown socialism the only source of asset creation is the people.  Not financial enterprises, not industrial enterprises, not service enterprises and definitely not government.

Every asset in the economic infrastructure of our country starts with the effort of the individual and the remuneration that individual receives for that effort.

The Big Three auto manufacturers need money because the individuals who would normally be inclined to buy one of their vehicles are either not so inclined or do not have nor cannot raise the required cash.

The taxes these three behemoths would normally pay to various tiers of government will not be paid because they have not made any profit because people, individuals are not buying their product.

Construction enterprises will not buy trucks because their product, buildings, have no buyers because once again, individuals who would normally be inclined to buy their buildings are either not so inclined or do not have nor cannot raise the required cash.

Thus, if Charlie or Charlene citizen does not spend, regardless of what they are not buying, profit is not made and taxes are not paid.

If taxes are not paid, this amorphous body referred to as government has no money to support their endless bailouts.

Where are they getting it, they are borrowing it and putting the loan on the balance sheet of each and every living soul in the United States.

That’s right, you owe the money that the 535 loan brokers are borrowing to bailout banks, brokerage houses, auto manufacturers and whoever gets on the line next.

I truly believe that if the American public began to view government spending at a more personal level, these out of control loan brokers called Congress would find themselves in the hot water they deserve.  So what I am going to attempt to do here is ‘make it personal’.  Keep in mind through this exercise that the only tax dollars that the US Treasury will get with which to pay off the debts enumerated below must ultimately be paid by the individual, whether income, sales, property, etc, the source is the working men and woman of this country, enterprises are only conduits through which the money passes.

Let’s start with what is owed from past spending binges As of December 23, 2008 the national debt is approximately   $10.612 trillion
To see that number in its scary entirety $10,611,615,687,668

Now let’s add to that the bailout money that is not included in the above, and let’s round it to where it really is going   $1.000 trillion

Therefore as of today, the 535 loan brokers have committed your future earnings to pay back   $11.612 trillion

Now lets add President Elect Obama’s estimate of what further bailout/stimulus needs the government will borrow   $3.000 trillion

So sometime between now and summer 2009 the citizens of this great country will owe various lenders throughout the world   $14.612 trillion

The population of this country as of today is approximately  306,000,000

Therefore every man, woman and child, from sea to shining sea will owe   $47,751.63

To bring that number even closer to home, the average US household has 2.59 souls in it, so according to the US Census Bureau, the average family/household will be in the hole for $123,676.73 by summer, and you didn’t get anything for that 123 grand, hell, you didn’t even know you owed it.

It is imperative that you think about this number in these term because you are going to pay it back.

We have already established that any tax money the US Treasury receives from business enterprises ultimately comes from each individual, well so do the tax dollars that are paid by the rich.  Those among the rich that enjoy a life supported by dividends…those dividends are just another distribution of the profits earned by selling you, the individual, products or services.  Equally so with entertainers, sports celebrities, business owners, etc., if you do not buy their music, go to their games or buy their goods and services, they just ain’t rich anymore so they do not pay enormous taxes.

Harry Truman once said about his job as President of the United States, “The buck stops here”.  Well each citizen of the United States must look at the huge commitments that the 535 loan brokers are making with your money, assets and yes, your future and realize ‘The buck starts here’.

I would truly feel that this commentary was a success if people that read it start his or her own chart for their specific household.  Using the $11.612 trillion that we have already been made responsible for and the total population of the US as of today, each soul is responsible for $37,947.71 of debt the 535 loan brokers committed you to.  Each time you hear of the loan brokers committing you to another trillion, divide by that population number, 306 million, add it to the $37,947.71 and multiply it by the number of people in your household.

That way most of the honest, hardworking folk who built this nation can go to sleep every night saying to themselves, “My biggest creditor is a group of incompetent slugs who made me responsible for a loan without my consent, gave me nothing in return and have the government on their side to make me pay it back.  I am in this fix because 535 incompetent, self appointed loan brokers signed my name to the loan agreement, not theirs, mine.”

Then vote them out of office before they bankrupt you, all 535 of them!

G. Hugh Bodell is a freelance writer and a native New Yorker who is knowledgeable on many subjects but expert on none…well, maybe a few.  Feel free to visit him at http://www.ghughbodell.com

G. Hugh Bodell
http://www.articlesbase.com/politics-articles/the-us-government-is-not-an-independent-self-funded-entity-regardless-of-how-the-535-members-of-congress-are-acting-695382.html

Published on 24 Apr 2010 in going bankrupt, by admin

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When is California going to ask for a bailout?

When does it go bankrupt?
Reality Has A Conservative Bias,

The socialist really fucked you guys up. Your housing sector got killed for it.
"U.S. needs to help california"

No, we dont. You need to fix your own problems. Have you still not learned you dont create responsibility by hand outs?

Axe your social programs. All of them.

California is a perfect example of what happens when the total government is liberal. NO, they shouldn’t get anything from us. They got themselves into this mess, if they get rid of some of their programs that let them play Santa Claus to everyone, they might be able to work their way out of it. If they don’t, so be it. They elected the clowns that got them into it.

Published on 23 Apr 2010 in going bankrupt, by admin

6 Comments >>

Healing Cancer Holistically

There are numerous holistic sources that claim to be healing cancer with varying degrees of success. A few of these report success greater than 90 percent of the time. I have spent years researching and finding the best information available, and have compiled a list of the most important considerations relevant to cancer. I present here a distillation of these factors, as well as a brief exploration of some approaches that would be more likely to fail so these can be avoided.

This article will cover four basic areas:

• How and Why the FDA has Failed Us.
• Holistic Options that Fall Short.
• Comprehensive Holistic Treatments.
• A Note on Allopathic Cancer Treatments.

How and Why the FDA has Failed Us:

If cancer can be treated so effectively using holistic means, then why isn’t the allopathic medical establishment using such methods and showing greater success?

As many of us know, the EPA and the FDA have failed us when it comes to cancer. It’s no wonder that one out of three people are expected to get cancer some time in their lifetimes. Such an outrageous statistic is only possibly due to gross levels of corruption in our government.

It is now common practice for pharmaceutical industry executives to gain top posts in the FDA where they are then able to make critical decisions affecting the industry that they are charged with regulating. Then, a couple years down the road, they are offered high-paying positions back in the same industry that they just helped through their post at FDA. The implications of this blatant conflict of interest are obvious. One example of many is that of Michael Taylor who had been a Monsanto attorney before going to work for the FDA. During his time at FDA, he contributed to creating a new FDA policy that deemed genetically modified foods as “generally regarded as safe”, or GRAS. He also wrote the policy exempting biotech foods from labeling. Following his time at FDA, he went back to work for Monsanto – no doubt in a very lucrative position. Searching Google on “FDA revolving door” (without the quotes) turns up 28,900 results.

Consider: We know that money corrupts and that people will do outrageous things for money and power. These things go without saying. With all their science and research:

• Why don’t doctors tell their patients about how cancer loves an acid environment and cannot survive in an alkaline environment? Why don’t doctors tell patients to stay away from acid-producing foods and focus on alkali-producing foods? Why not give people lists of these foods?

• With all of the science and research, why don’t they tell people that cancer loves sugar?

• Why don’t they tell people that cancer thrives in oxygen-deprived cells? Why don’t their protocols work more with oxygenating the cells and blood?

• Why don’t they tell you which vitamins and supplements inhibit cancerous growth?

Just imagine, for a moment, if a cure was found. Imagine the possibility that there are currently very effective holistic treatments. If they came into wide usage, imagine:

• All the research grants that would go out the window.

• Think about all the expensive diagnostic and treatment equipment in doctor’s offices and hospitals that would be rendered useless.

• The loss of revenue to doctors and researchers who use such equipment, and the manufacturers and sales people who sell them.

• The many expensive surgeries that would end.

• The sales of many life-long prescription pharmaceutical drugs would end.

How much money are we talking about? Treatment for one person will typically cost between $80,000 to $160,000. The medical industry represents one-seventh of the total United States Gross National Product at one trillion dollars per year with revenues associated with cancer reaching $400 billion annually. Is it any wonder that holistic options are off the table? The cancer industry cannot make a dime off of broccoli and carrots and vitamins and healthy people. A healthy person is lost profit.

“But nobody today can say that one does not know what cancer and its prime cause be. On the contrary, there is no disease whose prime cause is better known, so that today ignorance is no longer an excuse that one cannot do more about prevention.”

- Nobel Prize Winner Otto Warburg in a meeting of Nobel Laureates, June 30, 1966

Holistic Options That Fall Short:

There have been a number of books that suggest that the cure for cancer is one key factor, such as using specific nutritional supplements effective against cancer or an herbal cure for cancer. Using only herbs to cure cancer may not be the right answer for the same reason that I would not limit my own treatment to a single homeopathic option. The reason is simple. Alternative cancer remedies typically only give you part of the picture and fail to address the underlying causes of cancer.

Regardless of whether one is talking about stage three breast cancer, lung cancer, or prostate cancer, an herbal remedy or a homeopathic cure for cancer may do precious little to shift the pH (i.e. the alkalinity) of the body, and precious little to eliminate the toxins accumulated in the body that gave rise to the cancer in the first place. Further, if you kill the cancer cells, but you are still eating a diet consisting primarily of acid-producing foods, and you do not cleanse the body of accumulated toxins, then your cancer is likely to come back again.

Comprehensive Holistic Treatments:

To be most successful, any cancer remedy must address the underlying causes of cancer. Holistic Cancer Cures can be highly successful – given that one follows a protocol with a proven track record of success.

There are a wide array of factors that support or promote cancer that should be avoided. Nothing here should be ignored. A few are obvious, but several are unknown by most people. Knowledge is indeed power. So read this with an open mind and get ready to reclaim your health.

The best holistic cancer treatments should include three primary and essential considerations:

1) Cancer thrives in an acid environment in the body and for the most part cannot survive in an alkalized body. So an alternative treatment for cancer must inform you fully on acid-producing foods and alkaline producing foods so the pH of the body can be shifted away from acid and toward a healthy alkaline state. And this is easy to do because there are many lists of acid versus alkaline producing foods to be found on the internet.

But again, that’s only part of the story. Consider – if the body is full of toxins – many of which are acid-based, then it may not be possible to alkalize the body sufficiently without also addressing the next two steps:

2) Any holistic cancer treatment worth its salt will inform you of the many sources of toxins in our food and water, and how to best avoid them. And this brings us to the third element of your journey to healing cancer.

3) Treating cancer must address how to cleanse the body through use of a variety of detoxification products to eliminate accumulated toxins.

So again, natural cures for cancer are incomplete without these three elements. But with them, it can truly be said that healing cancer with a holistic approach is typically successful. This includes even advanced cancers, depending on, for instance, the degree of damage to vital organs and the person’s age.

On my website, I offer a document that provides details on the above three factors, as well as:

• A link to the best cancer diet to follow, which will, for example, discuss foods that are high in fungus and molds, foods that are genetically modified, which cooking oils to use, and much more.

• A list of supplements that are effective against cancer.

• A link to the best alternative cancer treatment website where you’ll find well more than 200 specific alternative cancer protocols that have a proven track record against many, many forms of cancer. This website will give you detailed information on things like contraindications, other relevant safety information, and much more.

• Details on approximately twenty of the most common and impactful sources of toxins in our society, as well as specific research and links for each to help you understand why you need to stay clear of them. Toxins can come from unexpected sources. Examples include non-stick cookware such as Teflon; plastics in touch with foods and drinks; microwave ovens, which transform foods in dangerous ways; municipal water which typically contains chlorine and fluorosilic acid – a highly toxic industrial waste product passed off as fluoride to help children’s teeth; genetically modified foods; common artificial sweeteners that turn into formaldehyde in the body; MSG, which is now in abundant supply in fast foods and hidden by using more than 15 different names; and even plastic shower curtains which outgas a huge amount of toxins.

• Information on the best products and means that I’ve been able to find over the years to help you limit your exposure to these dangers.

A Note on Allopathic Cancer Treatments:

People would do well to remember what the cancer establishment refers to as ‘terminal’. In my opinion it typically means that in their paradigm, they have no good answers for you. This document, with its sources, has much better answers – ones that won’t bankrupt you.

The FDA likes to restrict the use of the words “cure” and “heal”. Now, if what is happening is that people’s cancers are going away and these patients are finding health and vitality – then perhaps to call it anything other than a healing would be inaccurate. Cancer patients are using holistic approaches and finding health. That’s a reality. The sources sighted in the document available for download on my website speak for themselves.

I speak to you as one person to another. It’s up to you to look at the evidence here and on my website as well as that presented by your doctor to make up your own mind for what is right for you. This is your opportunity to take responsibility for your own health.

I am convinced that the holistic approach is much more effective than the toxins of chemotherapy, radiation, pharmaceuticals, and toxic and acidic food being promoted by the mainstream allopathic path. It is my understanding that the holistic path, using specific protocols, achieves healings above 90 percent where the allopathic world knows something closer to 30 percent. That’s a guess, for now. So if you want one-third the chance of healing and a path that bankrupts you and leaves you sicker by the month – go allopathic. If you want three times those odds and a path that strengthens you each step of the way, then go with this document. One other important consideration – the allopathic path does nothing to address the underlying causes of cancer in the first place. As a result – if you continue eating the same foods and exposing yourself to the same toxins, your cancer is likely to come back again a few years down the road.

DISCLAIMER – The information in this article is provided for educational and informational purposes only. These statements have not been evaluated by the Food and Drug Administration. The author is not a doctor and is not attempting to recommend, prescribe, treat, cure, mitigate, or prevent any disease and in no way is the information contained in this document intended to be a substitute for a health care provider’s consultation. The content is based upon research by the author. The reader is encouraged to make their own health care decisions that can be based upon their own research and then partnering with their own health care professional. If you are ill please consult a qualified physician or appropriate health care provider.

Cole Simonson
http://www.articlesbase.com/cancer-articles/healing-cancer-holistically-713059.html

Published on 17 Apr 2010 in going bankrupt, by admin

6 Comments >>

Does the Tea Party think the US would cease to exist if it went "bankrupt"?

How does a government already trillions of dollars in debt from Republican presidents go "more" bankrupt?

The TEA Party was started when George Bush was in office and was protesting the excessive spending of George Bush.

You just were not paying attention at the time because the TEA Party was criticizing George Bush not Barack Obama.

Now that the TEA Party is criticizing Barack Obama, a hero of the Radical Extreme Left, it appears that the Radical Extreme Leftists are upset at the criticism of one of their heroes.

Barack Obama has greatly increased the rate of Federal Spending, far beyond even the most irresponsible spending of George Bush..

Although The United States of America will still exist if the Country goes bankrupt, life will be hellish for all of the Citizens of The United States of America.

Not only will Federal Spending be forced to be cut drastically, the debt will be almost impossible for The citizens to repay.

Essentially if we let the irresponsible out of control spending get to the point where The United States of America cannot borrow money, the results will be disastrous.

If you think that the current economic circumstances are bad now, this is nothing compared to how bad it will be if we get to the point where The United States of America can no longer borrow money.
.

Published on 17 Apr 2010 in going bankrupt, by admin

13 Comments >>

does going bankrupt affect sponsoring someone to enter the UK – immigration problems?

I was thinking about going bankrupt or getting an IVA to sort out my debt. However my partner is from Barbados and i am his sponsor when he comes to the UK. I was wanting to know if immigration here in the UK would see this as a problem?? Thanks

To sponsor someone coming to uk you must show that you have at least £350 per week going into your bank account as you will be supporting them and if you go bankrupt you will not be able sponsor anyone and you loose your property

Published on 15 Apr 2010 in going bankrupt, by admin

5 Comments >>

if torrents offer almost everything for free why havent companies like Microsoft and others gone bankrupt?

i want to download microsoft word processor 7 through torrents, but my mom is skeptical. she claims that if everyone could get this thing for free, all companies would go bankrupt. and that is true, if everyone could get something for free rather than spending money, why havent companies gone bankrupt? of course its not easy to torrent, but with practice every one could get the basics down.

everybody does not use pirated software….in fact most official companies and organizations and a lot of individuals too buy original software…..especially if they use the software for commercial purposes….
original software has many advantages like free from viruses and spyware, free updates, registration and other benefits from the company….. it feels great to be sure that you and not gonna get in trouble….original software = peace of mind

Published on 13 Apr 2010 in going bankrupt, by admin

9 Comments >>

How much did General Motors borrow from the government before they went bankrupt?

And where can I find their 3 year and 5 year stock charts?

The government also has an equity stake in GM so they are also part owner, along with being a creditor to the company. GM is essentially a government entity until such time they can survive on their own. That isn’t any time soon, in case you are holding your breath!

Yahoo! Finance, Fool.com, or any other finance site will provide 1, 3, & 5 year stock charts. To save you the suspense, the chart goes straight down toward zero.

Published on 11 Apr 2010 in going bankrupt, by admin

2 Comments >>

Survival of the Fittest – Smes

SMEs Battle Outstanding Invoices

www.accountspayablenews.org

In difficult times it’s often the weakest who suffer, and in business terms that means the small to medium sized enterprises (SMEs). For many the incipient recession has added to what was already a difficult situation.  Sometimes because the wheels of large organisations turn slowly, and sometimes simply through a lack of care – the days sales outstanding (DSO) quite regularly tip into 80 plus.  It’s not hard to see that if you’re a small business, a figure as high as this can easily have disastrous effects on cash flow.  In fact, stagnant cash flow leads to the collapse of a quarter of all the 40,000 business annually.

 

DSO Causes Business to Go Under
In recent research carried out by Bacs, it was discovered that a staggering £18.6bn was outstanding to SMEs – a leap of nearly £3bn over last year.  As part of the same study, the average amount owed to each organisation was shown to total £30,000.  A scary figure indeed when it was also reported that almost 30% of these companies admitted that they would go bust when DSO overstepped the £20,000 mark.

 

It seems that the SMEs are doing what they can to address the issue with over 20% now employing a dedicated person to chase late payments. However, this factor in itself is an additional outlay, which in an ideal world, shouldn’t be necessary.  Another way some companies deal with the pressure of an excessive amount of DSO is to start using factoring companies.  This way, organisations can borrow cash on the back of a credit outstanding.  However, this too comes at a price as the factoring companies will obviously cream off a commission.

 

Government Acknowledgement
In the current climate, the Government has realised that many SMEs are in real danger of going bankrupt – a result which would have dire consequences for the economy as a whole.  In a recent statement in the House of Commons, Gordon Brown said:

“The key issues for small and medium-sized enterprises are cash flow, and, to some extent, access to finance… They need to be helped through this critical period. ..The Government can ease the situation, and we will help cash flow through prompt payment. The Government have already agreed to move their procurement rules ….We will therefore aim to make SME payments within 10 days. The Government will pick up the cost of that, but it is a small price for greatly increasing cash flow associated with £8 billion of contracts for SMEs.”

Whilst this is a fantastic step in the right direction, with the best will in the world, the government cannot force a supplier to take action against a debtor.  At the moment fewer than 5% resort to the law against those who owe money.  The trouble is that for many SMEs, it could be that their largest customer could be the very one who’s returning the majority of the late payments, and it’s unlikely that the supplier would want to rock that boat until the situation bordered on bankruptcy.

So What Can you Do?

 

  • Check customers carefully before allowing credit – a small amount of time at the start can save a lot of hassle later
  • Agree terms: What is the payment method? What time periods are you happy with?
  • Send invoices on time and send them accurately
  • Monitor payments in against payments out carefully – invest in automated software
  • Set time aside every two weeks to chase late customers
  • Keep an eye on stock metrics – highlight products which aren’t selling

 

Build on Your Relationships
Accounts payable departments on both sides of the relationship can help restore the balance between payments in and out.  There is nothing more important to an organisation that its customers – the people who buy their products.  If the relationship between purchaser and supplier breaks down owing to continued late payments, then ultimately it’s the end user of a product who suffers – and that end use will simply go elsewhere.

 

For example, a company regularly buys a certain range of chairs from a distributor. That company has existing orders for that range – but because the company has defaulted consistently on payment, the distributer decides to end the contract.  In this case, the company’s customers with existing orders are going to be disappointed and are most likely to have to be refunded and are likely to go elsewhere in the future.

 

Looking Ahead
It’s clear from increasing legislation that the times when excessive DSO were an accepted business practice are beginning to come to an end.  Ultimately a tighter ship with stricter accounting procedures has an effect which gathers momentum throughout the supply chain. Companies cannot afford to think of their role as standalone, these days many organisations either sink or swim together.  Which option will your A/P department take..?

 

Cash Flow Solutions:

 

Microsoft Money
QuickBooks

Ellen
http://www.articlesbase.com/ask-an-expert-articles/survival-of-the-fittest-smes-724839.html

Published on 10 Apr 2010 in going bankrupt, by admin

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