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Signs That Filing for Bankruptcy Might be Your Best Option

Very few people rack up debt with the idea of filing for bankruptcy later. Many people think of filing as a last resort and will spend years trying to improve their credit and manage their debt before they finally give up. One type of bankruptcy forces your creditors and lenders to take less money in exchange for what you owe and will let you make convenient payments on your debt. The other is a type of total wipe out that will eliminate most of the debt that you carry. Before looking at the types of bankruptcy filings, you’ll want to find out if it is the best option for you.

Threatening or Harassing Phone Calls

It wasn’t that long ago that creditors could use bill collectors that used threatening and harassing phone calls in an attempt to make you pay. Though federal law now prohibits these phone calls, some bill collectors ignore the law because they think that people will never complain. They might call you first thing in the morning and wake up every member of your family, at the same time that you sit down to eat dinner and even as you get ready for bed at night.

Calls to Loved Ones

Federal law also prohibits bill collectors from calling your loved ones or anyone else who is not you. That doesn’t stop them though. If they have an address on file from where you once lived, they will call the phone at that address and ask about you. Some will go even further and tell the person who answers the reason for the call. Working with a St Louis bankruptcy lawyer can get you freedom from the calls made to your home and those made to your loved ones.

Higher Level of Debt

Before filing for bankruptcy, you should sit down and make a list of all the debt that you carry. Determine how long it would take you to pay off that debt based on your current income level. If you find that you cannot pay off your credit cards with 10 or 20 years or even longer, it may be time to file. Bankruptcy court cannot discharge certain types of debt, including student loans or any back child support that you owe. A bankruptcy lawyer can help you understand the impact that filing really has on your future.

THE FUTURE OF NBFCs IN INDIA

As per a study conducted by YourStory, roughly 47 deals amounting to $954 million were made in the Indian fintech space in 2015 alone.

And as of 2016, the collective funding of more than 500 fintech start-ups in India was believed to have reached an aggregate of $1.4 billion since 2012.

Gone are the days of SMEs (Small and Medium Enterprises), unbanked sectors and customers with a not-so-impressive or even non-existent credit rating being left behind to languish on the side-lines, neglected by the government and traditional banks alike. With the entry of NBFCs in the microfinance industry in India, all predictable glitches in traditional lending scenarios – cumbersome loan obtainment processes, sky-high interest rates, and collateral and security requirements against credit – are history now as financial inclusion is promised to thousands of these players earlier hovering on the fringes.

Some of the factors that have led to the rise of NBFCs                                             

  • Technology at the head of financial and banking services as well as an increasingly digitised India;
  • Sector-specific expertise (home loans, commercial vehicle loans) that allows these financial companies to have an edge over traditional lenders;
  • Ease and speed of NBFC registration as well as low costs in establishing one.

While NBFCs have indeed succeeded in catering to the diverse financial needs of a country like India, their beginning, evolution and manifestation as reliable lending models has not been an overnight success and has undergone tremendous layered changes, most of which contribute to present-day monumental success of NBFCs and are just as instrumental in shaping the future of these financial companies:

  • Introduction of Entry Point Norms (EPNs) in the years 1996-1997 that called for stricter and more detailed regulations to allow for a more focussed supervision of deposit-accepting NBFCs;
  • Requirement of compulsory registration of all NBFCs with the RBI before embarking on any kind of business;
  • Maintenance of a share of deposits in liquid assets;
  • Enhancement of capital requirement (in 1999) for fresh registration from Rs. 25 lacs to Rs. 2crores;
  • Further classification of non-deposit accepting NBFCs (in 2006) into systematically important NBFCs and non-systematically important NBFCs based on asset size;
  • Founded on the key discussions held in November 2010 at the G-20 Summit, Seoul, and the Financial Stability Board’s (FSB) persistent efforts in regulating the shadow banking system, RBI’s concerted moves into curbing shadow banking in India (through regulation of NBFCs) and thereby, mitigating financial risks;

As part of a comprehensive review of NBFC Regulations conducted by the RBI

  • Revision of systematic significance from Rs. 100 crores to Rs. 500 crores and different set of regulations introduced for systemically important and non-systematically important NBFCs, thereby, bringing more operational efficiency in the functioning of these companies;
  • Relaxation in norms for non-deposit accepting NBFCs with an asset size of more than Rs.100 crores but less than Rs. 500 crores (sweeping over around 11,500 NBFCs in this category );
  • Relaxed prudential norms for ND-NBFCs without public funds and an operational customer interface;
  • Enhancement of Tier I Capital to 10% for NBFCs-ND-SI and NBFCs-D;
  • Requirement of mandatory constitution of various committees for systematically important deposit-accepting NBFCs as well as NBFCs-D;

 

Other changes applicable –

  • Enhancement of minimum Net Owned Fund of at least Rs. 2 crores, irrespective of their registration prior to 21 April 1999;
  • Reduction in the limit for acceptance of deposits by AFCs-D (deposit accepting Asset Finance Companies) from 4 times to 1.5 times the net owned funds;
  • Prior written permission of the RBI to be sought before seeking any kind of change in management or control of the NBFCs, except in cases where the shareholding exceeds 26% on account of buy-back of shares/reduction in capital and where it is also endorsed by a competent court;
  • Surge in lending limits for microfinance NBFCs which inadvertently means a bigger pool of borrowers; among other radical amendments.

 

What does the future hold in sight for NBFCs?

In addition to the aforementioned changes brought about with respect to NBFCs, recent trends in the lending space are believed to change the way these unique financial models are perceived in general –

  • the shift from short-term borrowing to long-term borrowings;
  • the possibility of the Micro Units Development and Refinance Agency Bank (MUDRA Bank) becoming a major source of funding for NBFCs-MFIs, in addition to an alternate funding source inherent in hefty deposits made by high net worth individuals (HNIs) to these NBFCs directly;
  • more expansion opportunities for NBFCs as they have branched into Infrastructure Finance, Gold Loans, Capital Markets, Personal Finance, etc.;
  • Partnering with payment banks, insurance and asset management companies, and the like has made NBFCs a formidable alternative for customers owing to its coverage of maximum benefits under this model. That means tying up with firms that use governmental mandates (AADHAR scheme), access to financial data and the massive explosion of e-commerce as level-playing grounds for lending. Lending companies such as Capital Float, Rubique and LendingKart fall under this category.
  • Working in collaboration with unique online lending firms such as Finomena that focuses on a large chunk of the millennial generation and makes loan accessibility possible for college students, freshers at jobs, freelancers who are generally kept out by banks due to an absence of credit score;
  • The emergence of online lenders in this space that operate either as NBFCs, intermediaries for NBFCs/banks, or act as a P2P lending marketplace in connecting borrowers and lenders directly, is another major reason why NBFCs have a more than fair chance of succeeding in future.

All is not hunky-dory though; NBFC expansion cannot be taken for granted, given the results published by the Financial Stability Report in December 2016. Cautious approach meted out by the RBI in handling NBFCs, as well as bleak performance of the banking sector affecting NBFCs negatively (in diluting the asset quality) can be attributed to the declining performance of the NBFCs in the last financial report.

If some of these glitches are worked on strategically, the future of NBFCs can be more diverse and certain.

 

 

A Better Way to Control Insurance Costs

Captive Insurance Resources isn’t an insurance company. In fact, they are dedicated to helping business owners take control of the single most expensive benefit offered to employees. For the past 30 years, Captive has offered business owners the chance to actually become insurance owners rather than being at the mercy of the traditional insurance market.

There are insurance specialists on staff who are ready to help coordinate all risk control and claims manager that provide the best in claim advocacy. Captive has a formalized system that flags complex claims and keeps insurance owners up-to-date on losses. This is accomplished by the buying power Captive Resources creates with their excellent relationships with loss prevention and claims administration companies. These long-time relationships result in lower costs, and the best customer service in the industry.

Unbundled services are also available, and they often are a better fit than the standard packages offered by the mainstream insurance market. These specialized services can be supported and easily implemented with little or no disruption to service, and frequently overall costs are lowered by substantial amounts..

Captive Resources use a risk assessment methodology that quickly evaluates members and automatically monitors them to ensure that all the risk management standards are consistently met or exceeded. There’s no need to worry about security, either. Captive Resources also employs in-house professionals who oversee all aspects of the risk control services.

Another great aspect of Captive Resources is the efficient governance that allows each and every member a full vote in the management and direction of the company. This allows members to participate, but also leaves them ample time to operate their businesses. Since all service providers are coordinated by and report exclusively to the member/owner Board of Directors, a transparency in business practices is created that makes all members comfortable in the knowledge that their interests are the number one priority. It’s just another layer that allows participating companies to feel comfortable and involved in the operation of Captive Resources. There is also a Captive Investors Fund that was created in 1996 to meet the credit and investment needs of the various companies under the Captive Resources umbrella.

Captive Resources is always ready to answer questions from current and potential members, so check out the website and see all the advantages membership has to offer.

Why work through an umbrella company?

If you are a contractor, working through an umbrella company could be the best solution for you. As of the 6th April 2017 legislative changes regarding off-payroll contracts (IR35) many contractors working in the public sector are changing to umbrella companies. Umbrella Company could help you receive the full benefits of working through an umbrella company. The following blog aims to inform you about these benefits as well as a providing a brief summary on the sign up process.

Benefits:

  • Continuity of employment

If you have multiple assignments an umbrella company could be the best option for you. An umbrella company allows you to have one tax code regardless of having multiple assignments ongoing. This reduces the hassle of having different tax codes for varying assignments with multiple agencies being involved.

  • Easy life

If you decide to work through an umbrella company, you will be working for that company, as a result you will only have to submit a signed weekly time sheet to the umbrella company’s online website. The company (agent) will be in charge of all tax and NI contributions taking the onus of you. Once the online registration form has been completed, the estimated weekly administration is only 10-15 minutes.

  • Employee Benefits

As an ‘employee’ of the umbrella company you will be entitled to all the benefits of being under permanent employment such as:

Sick Pay

Annual Leave

Maternity/Paternity Pay

Insurance

Highly regarded umbrella companies will provide insurances for you whilst you are working, at no cost. Insurances such as: Employers’ Liability Insurance, Professional indemnity Insurance and Public Liability Insurance.

Which contractors are best suited for Umbrella companies?

Umbrella companies are an easy solution for all freelancers. However, an Umbrella company may be the optimum solution for you if you are:

  • Earning less than £15 per hour
  • Looking for an introduction into self-employment, before starting your own limited company
  • Working on short term assignments (3 months or less)
  • Working in the public sector
  • Unable to be a director of your own limited company

 

The sign up process is easy and stress-free. A registration form has to be completed asking for your personal details and information relevant to your assignment. Often proof of your address and identity is required. Once the umbrella company is satisfied with the details you will then be asked to sign a contract completing the process.

Your chosen Umbrella provider should operates in full compliance with HMRC legislation, and is audited regularly by industry professionals. There are many companies operating that claim to be able to provide you with 90% of your pay – these schemes are not approved by HMRC and should not be used.

For further reading go to http://www.accountingweb.co.uk/community/blogs/dilabrien/should-you-incorporate-offshore-as-a-contractor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reasons To Hire A Commercial Designer For Your Retail Space

If you have a retail business and are planning on opening or moving to a new space, a professional commercial designer can help you make it great. Many business owners feel it is an expense worth avoiding. However, a design team that does this for a living can save you money, time and hassle. In many cases, they can also save you from making many wrong decisions that you might regret for years to come. Below are some of the top benefits of hiring reputable commercial interior design firms such as designrepublic.us.com.

Balancing Needs Over Desires

There will be a multitude of decisions to make when designing your new retail space. With so many decisions, things can quickly get out of hand and you can easily go over your budget. A commercial design team can work with you to make these hard decisions while staying within your budget and timeline for opening. Many of the topics that the design team will work with you on will include styles, work processes, space layout and lighting.

The Basics

While there are going to be many big decisions to make with your business, they say the small details can be just as important. A commercial designer is an expert in the smallest of details that can have a huge impact on your business. They will sit with you and go over lists of things that most business owners would have never even considered. Some of those things include wall systems, HVAC, security, panel systems and furniture.

Advice Before Planning

You might be able to find a design team to hire while buying furniture and items for your store. If you purchase many of your items from a specific supplier, they may offer to provide a design team as a free service with your purchase. It should be kept in mind, however, that any independent designer will have no financial incentive to recommend a specific manufacturer over any others.

Opening or moving to a new retail space can be an exciting but stressful adventure. While business owners may be looking to save money in any way they are able to, it can be a great benefit to get the help of professionals. A professional commercial design team will be worth the investment and can help you make many decisions that will affect the success of your business for years to come.

Heading Off Equine Losses with Protective Policies

Your horse can be a valuable source of income to your farm or ranch. You can hire your stallions out for stud services. You may barrel race or show your horses in fairs and rodeos.

Whatever reason you keep horses on your property for and whatever your reason for owning a horse, you want to know that you can recoup your monetary losses if one of your equine companions is lost to circumstances beyond your control. Just as you would protect your home and car, you can protect your stallions and mares with policies for ranch, farming, and horse insurance today.

Determining Your Horses’ Value

You may think that your horses are invaluable and beyond the monetary price anyone could ever pay for them. In reality, however, your horses may have a value that correlates directly with the profit you bring in on your ranch or farm.

When you want to safeguard those profits and get a quote that is more objective than you could render, you can go online and ask for a quote on your equine investment today. The insurer can tell you how much your horses are worth and what kind of policy you can buy. Depending on that information, you can decide what kind of policy to buy for your ranch or farm today.

The policy that you buy can be used as a sort of health insurance to help you avoid the loss of a horse. If your horse suffers a sprain, for example, it may need a bit of therapy to regain its mobility. The insurance can help you pay for those rehabilitative services.

Guarding against Losses

You may incur your greatest loss if one of your horses dies in circumstances that you cannot control or predict. You may make every attempt to keep your property safe and easy for animals to roam over each day.

Still, you never know when a bridge might collapse or lightning might strike. These disasters could kill a horse instantly.

With a policy from the insurer, you could recoup the loss of the animal. You can use the money to put back into your farm or ranch or buy a replacement animal.

Your horses are one of your greatest livestock investments. You can protect against the loss of one of these animals and also use the policy to pay for rehabilitative services to heal your equine friends by going online to purchase insurance today.

All About Medium Term Notes

An MTN refers to a note that has an average maturation age of five to 10 years. Corporations can offer investors MTNs continuously via a dealer where the investor is able to pick the maturation age ranging from between nine months to 30 years. Typically, though, corporate MTN maturation ages range from one to 10 years.

The benefits of MTNs is that they offer investors a third option other than traditional investments that are either short-term or long-term. They are an ideal opportunity for investors who want to invest for longer periods of time than municipal bonds or short-term bank notes can provide but who do not want to commit to long-term investments. Medium turn notes can provide a business with a steady cash flow from the investors and they can be offered wit or without the option to call.

MTNs with call options are offered at a higher rate but they also carry the risk of being able to be called, or retired, before they reach maturity. This allows the company offering the MTNs to take advantage of low rates. MTNs that do not carry a call option do not have that risk but are also offered at a lower rate.

MTN notes allow a company to tailor its debt issuance to adhere to its particular financial needs. The notes also allow the company to only have to file once with the Security and Exchange Commission versus many times if they were issuing notes with varying maturities.

These notes are highly regarded by asset liability management professionals because of their relative safety and reliability in a recession. Compared to the reward that one receives from them, there is very little risk in investing in them. While some MTNs can be collateralized by such things as mortgages, amortizing notes, or subordinate notes, most MTNs that are issued are backed strictly by the issuer’s creditworthiness.

Contact a financial adviser to see if MTNs would make a great addition to your portfolio. There is little to lose and everything to gain. In the constant flux of money markets, reliable returns are a good thing.

Why Not to Forget about Pet Insurance


We all love animals. Many of us even have at least one of more pet companions in our homes we take care of on a daily basis. All pets are wonderful to have around: dogs, cats, hamsters, parrots, or even horses. Yes, some people have horses as their pets and they absolutely love the idea of it. As a matter of fact, not very far from my house is a small farm with a few horses that we visit with the boys from time to time and they absolutely love it.

Having pet companions is a wonderful thing, but it becomes harder when your beloved animal falls ill, or when is even injured. Some animals even die prematurely, which happens to many pet owners nationwide. Not only are they absolutely heartbroken, but they might also lose some of the money especially if their pets used to compete or bring money in some other way. When this is the case, it is a good idea to think about pet insurance even when your companion is still very small.

I am aware that the costs of pet insurance tend to add up especially since you have to pay the premiums every month. You might be very positive and you might think that nothing bad is ever going to happen to your beloved animal. The reality is, however, that pets fall ill more often than you might think, and this is your responsibility to ensure that you have the right coverage to cover all the medical costs related to all the necessary treatments.

When it comes to the types of pet insurance, there are usually 4 options available to you and they include:
1.Accident only pet insurance. This is probably the most basic version of all pet insurance policies as it covers the treatment of a pet in case of an accident. It does not cover the cost if your pet has fallen ill.
2. Time limited pet insurance. It is especially useful after an injury or an accident.
3. Maximum benefit pet insurance. If your pet gets sick or ill a lot, this is the right policy for you as it covers an unlimited number of sicknesses or illnesses.
4. Life time pet insurance. You need to remember to renew it each year.

Get quick cash loans with poor credit score – Know your borrowing alternatives

The biggest challenge for a borrower when he is cash-strapped is to get a loan even after having poor credit score. This is when bad credit quick cash loans can help you as the lending company offers you money when you have no cash. Such loans are usually paid back when you receive your monthly pay check and often they are also known as bad credit loans. As we know that the credit score of a person is the most important document that a lender checks before lending a loan, they mostly need a good score for lending money.

But due to the irresponsible financial behavior displayed by most of the individuals, they rarely have a good credit score let alone a good credit history. The lenders of quick loans UK don’t give much priority on prior lending and prior financial behaviors and this is why they can offer cash to people who even have a poor credit score.

Is it even possible to grab a loan despite having poor credit?

Not having good credit is one of the biggest impediments of obtaining a loan as you will be considered as a high risk customer who may default on making repayments and leave the lender with nothing. Therefore, for getting conventional personal loans, you have to raise your credit score and unless you do so, you won’t fit the standard lending guidelines which the banks usually follow.

On the other hand, if you fall short of funds in the middle of the month and then you realize that you don’t have a good credit score too, you need not fret as fast cash lenders can help you with immediate cash which can be used for meeting your mid-month financial contingencies.

Quick cash loans – How to get one

During some emergency, arranging a few extra hundred pounds can sometimes feel impossible and tough and for the 38% of Brits who don’t have any kinds of emergency savings, this is almost impossible. Fast cash loans are the best options for them when they’re suddenly faced with an emergency like this. The small-amounts, short-term loans address all your cash flow concerns. If you fell ill and you took a month off from work which resulted in a reduced paycheck, paying off the bill can become an indeed big struggle. Fast cash loans can bridge the gap and also improve your current financial situation.

Why should you apply for fast cash loans?

Remember that revolving credit is not available to all as it takes enough resources and time to develop good credit score. For those who don’t have a good credit score, the ability to be approved for a new line of credit depends on whether or not you can secure it with cash deposit. At the same time, if you had the cash to get a loan, would you require financing? Probably not! Whenever you’re someone who lives from one paycheck to another, you can always take resort to fast cash loans or quick loans.

How soon can you get approved for a quick cash loan?

Conventional loans can take almost a month to receive but as long as quick loans are concerned, you can get the proceeds in as less as 24 hours and sometimes the process may even end in 5 minutes. After you submit your application, you receive an instant decision. You don’t need to wait for long and there’s no need of back-and-forth conversations with the lender. You can electronically receive the funds within one working day.

Therefore, if you’re wondering about getting immediate cash, you can definitely take resort to quick cash loans in order to reap its benefits.

 

What Can I Do To Make My Business More Successful?

Business owners who insist on making their organizations as successful as possible should know that there are many systems, strategies, and solutions that can be implemented to engender the desired outcome. Here are three of them:

1. Utilize Maintenance Services.

If you’re serious about making your business more successful in 2017, know that the use of maintenance services can empower you to realize the objective. This is the case for many reasons, including the fact that utilizing maintenance services is a wonderful way to extend the life of your equipment and thereby save money. The consistent use of maintenance services can also improve the aesthetic appeal of your office setting and decrease the likelihood of work-related injuries and accidents. Companies such as Predictive Service are pleased to provide clients with predictive maintenance services that help identify performance gaps with equipment.

2. Implement Online Advertising Strategies.

Another technique you can implement to optimize your business’s level of success is implementing online advertising strategies. These strategies are powerful because they enable you to attract more and more people to your brand in the online realm. There are many digital marketing services that an advertising firm might deploy to make this happen. Some of them include:

• web design and development
• online reputation management
• responsive web design
• search engine optimization
• content marketing

Another digital service that an advertising team might deploy on your behalf is social media optimization (SMO). This service ensures that you can regularly share the value of your brand with other individuals on key channels like Google+, Facebook, Twitter, and LinkedIn.

3. Focus On Health Optimization.

It’s unfortunate that millions of business owners across the globe neglect their health. This reality can have a profoundly negative impact on your ability to get things done quickly and correctly while in the office setting. Note that individuals who maintain a high level of health tend to have more energy and mood stability. Luckily, there are numerous things you can do to get on the road to wellness and thereby enhance your performance in the work setting. Some of them include:

• meditation
• massage
• green juice
• journaling

Start The Business Optimization Process Immediately

There are many ways that you can ensure that your company starts to grow in a dynamic way. Three of them include utilizing maintenance services, implementing online advertising strategies, and focusing on health optimization. Start using these techniques now to keep your organization going and growing in 2017!

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