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Buy A House Even With A Bankruptcy On File

You may feel discouraged thinking about the mortgage application process of you filed for a bankruptcy. However, it is possible to qualify if you plan accordingly and take the necessary steps. Key steps will include; waiting it out, ensuring that your credit report is correct, building positive trade lines and holding a steady job.

Qualifying for a FHA loan is one possibility. If you have are making payments on a Chapter 13 you will be eligible if you have been paying in time for at least 12 months. If you filed a Chapter 7 you will need to wait at least 24 months after the discharge date before being eligible. Keep in mind that the filing date is not the same as the discharge date.

Obtain a copy of your credit report and make sure that everything is appearing as it should. Accounts that were included in bankruptcy need to appear as such on your file. This is preferable to accounts showing late payments or appearing in collection or charge-off status. If it’s not appearing as should, you will need to file a dispute with each of the three agencies and send each bureau a copy of your discharge papers itemizing which accounts were included. You can file a dispute by mail, phone or fax. Include your name, address, social security number and the exact nature of your dispute. Legally, the agencies will have a total of thirty days to look into the claim and will mail you a corrected report once their investigation is complete.

The next step is to rebuild your credit. If you have current accounts in good standing just keep paying them on time. The age of an account affects scoring and as a result it’s good to have trade lines which have remained …

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What Happens If I Don’t Pay My Bills?

Sure it’s a cliche, but it bears repeating: “There’s too much month at the end of my money. “

Not everyone is a financial wizard and not everyone is independently wealthy. Budgeting is difficult and surprises await those not ready with a three-month cushion of emergency cash.

Of course, some may think, “What’s the worst that could happen if I don’t pay my bills?” The comprehensive answer to that simple question is “Well, it depends. “

It is inconvenient.

When it comes to utilities, shut-offs are the first line of defense against non-payment. Very few people like to do without electricity, natural gas, water, etc. So usually getting them shut off is incentive enough not to get behind.

Taking time off work to be home for re-connections is not only a pain in the neck, it puts a strain on work life too. Gas companies generally will not re-establish service without someone being there, so that they can take necessary safety precautions.

Eventually, the customer will have to talk to someone about failure to pay. Dealing with bill collectors is not only a hassle, it’s embarrassing. Collections agents are doing their job and do not care about the reason why there was a failure to pay.

It costs more.

Almost any company doing business will charge late fees. Whether it is a percentage or a flat rate, it ends up eating into the budget, making the next month tight on money as well.

Utilities will charge you reconnect fees any time they disconnect service. This can be up to half of the average monthly bill, although most charge a flat rate. Since the customer is over a barrel, they have no choice but to pay it or do without, so it is never cheap. This, of course, is …

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Financial Advisor Marketing – How to Avoid Missing the Boat to Affluent Womenville

Financial Advisor Marketing – How to Avoid Missing the Boat to Affluent Womenville

Recently, on a cruise to Cozumel, the crew shared that there are always a few guests who miss the boat after stopping at port. While you may not believe this could happen at every port, the crew assured us it was the truth. Interestingly, the same thing happens with financial advisors who want to work with affluent women. As hard as that is to believe, some financial advisors just don’t realize that they need to approach affluent women differently if they want to get the results they desire.

A dramatic illustration of this are the studies that show that after the death of the first spouse, up to 98 percent of widowed affluent women will fire their financial advisor. Amazing — 98 percent! Why is that? Affluent women need different things from financial advisors than affluent men. The great news is if you take the time to learn a few simple techniques to better serve your female clients, you can be rewarded with an entry into an extremely lucrative niche market.

Ask-learn vs. tell-respond

Top financial advisors take the time to listen and ask questions, understanding that it’s the best way to improve their skills and grow their practices.

Top financial advisors listen to their affluent clients (not the chronic complainers who should be terminated or referred elsewhere) in order to really understand what they need. Top financial advisors also ask questions — in a non-intimidating way — of people who fit their profile of an “ideal” client, centers of influence (COI) who service their niche market, and other successful people they want to emulate.

When starting out as a financial advisor, it’s easy to ask questions because there’s so much we don’t know. But …

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Effective Ways to Cut Money Spending

Are you struggling on spending too much money already? Well, if you are one of those, this article is for you. Here are some effective ways to cut money spending:

1. Delay gratification – If you want to cut off too much spending and save instead, you must learn to delay gratification or delay pleasure. Too much pleasure requires too much money spending. Examples of gratifications are spending of unnecessary things, going out with friends during a not so important party, or you try pampering yourself with an expensive whole body spa. These are the most pleasurable things that you can delay just to save more money. If you want to cut money spending, learn to avoid these things. You control yourself and do let those evil delights drive you to do these things.

2. Learn to pack meals – You can always save by learning to pack your own meals. It does not have to be necessarily every day, but you can do this alternately. You can probably do this at least a few times a week, depending on your budget. Aside from the benefit of not spending too much for breakfast, lunch and dinner, you can also get the benefit of eating healthier food. In this way, you are far way surer that you are eating a clean food because you are the one who prepared it.

3. Drop your unnecessary electrical appliances – If you want to cut off too much money spending, it is very important that you consider your electrical appliances at home. Your electrical billings are taking most of your money. It is important that you unplug electronics, phone chargers and other electrical appliances sources. Turn the power off when appliances are not in use. Make sure that you turn off the …

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Five Common Reasons Why Businesses Struggle

If your business is going through a difficult time, then you may be considering your options. To help assess your own situation, here are five common reasons why companies struggle…

1. STARTING A BUSINESS FOR THE WRONG REASONS Many people launch a business to try and earn more money or to give themselves a greater work/life balance, which means they often find it difficult when things pan out the way they do. Better reasons for starting a business include a genuine passion for the sector, because you thrive on independence and you have the determination and patience to succeed.

2. BAD MANAGEMENT Research has shown that the biggest reason why companies fail is down to how they are run. Experience is essential, but so it expertise. Both can be difficult attributes to obtain, but together they can give a business the best chances for success. Someone who is a strong leader and can remain fully-focused on the business, never missing opportunities and always looking to the company’s future will be well-placed to achieve success.

3. NOT ENOUGH CASH FLOW No matter what the size of your company, cash flow remains one of the biggest reasons why companies struggle and fail. While planning will help, if you find yourself without a good cash flow, then you may be forced to take action. Factoring and Invoice Discounting could be the right solution to help you avoid liquidity problems.

4. IN THE WRONG LOCATION Many companies get this wrong and never really understand why their company struggled. You need to find a location that’s convenient for your client base, well-suited to your industry (ie, if clients like to drive to meetings, you’re going to need free parking and meeting rooms), and not next door to a business that will overpower you …

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