Reasons to avoid bankruptcy

Excessive debt is an issue that many people are facing in this economic climate. For those with too much debt, there are a few alternatives that offer potential solutions. Debt settlement or debt consolidation are methods to relieve the burden and eventually become debt-free.

another popular way to escape the hassles of debt is bankruptcy. While bankruptcy can be a viable solution for some people, it is not something that should be jumped into without carefully researching the options and alternatives.

There are viable reasons to avoid bankruptcy and seek other solutions instead. Bankruptcy is not an Easy Solution Going through bankruptcy could be compared to going through a divorce. both divorce and bankruptcy have their place in society, but all other options should be exhausted first before proceeding with these last resorts. both options can also have legal ramifications for many years to come. Bankruptcy is one of the most upsetting events in life. It is usually listed near the top along with divorce, loss of a loved one, and severe illness. It can cause irreparable harm to someone’s credit score and life. Types of Bankruptcy In the United States, there are two principle types of bankruptcy for individuals. Chapter Seven is merely a liquidation process during which the debtor’s assets are sold by a trustee and the proceeds of this sale are distributed to the various creditors. When filing this type of bankruptcy an individual’s debt and property are placed in the hands of the court. Individuals are not allowed to sell any of their property or pay off any debts without first obtaining approval from the court. this type of bankruptcy is often referred to as liquidation bankruptcy. Chapter Seven will remain on an individual’s credit report for ten years. Another type available to individuals is Chapter Thirteen. the goal of this type of bankruptcy is to renegotiate the total amount of debt by devising a plan with more advantageous terms of repayment for the consumer. With this type of bankruptcy the total amount of debt will be reduced significantly and can usually be paid off in no more than three to five years. Under Chapter Thirteen bankruptcy, the payment plan is designed and approved by the Court; it does not have to be approved by the creditors.

Chapter Thirteen stays on a person’s credit report for seven years. Why Avoid Bankruptcy If it is possible to avoid bankruptcy, there are many reason to do so. For both Chapter Seven and Chapter Thirteen, an individual’s credit report will take a bad hit. they both can bring down a credit score by approximately 200-250 points. As previously mentioned, they remain on someone’s credit report for seven to ten years and can make it quite difficult to qualify for new loans and credit for several years. Buying or even renting a home can become a hassle. Your insurance rates may even increase as many insurance carriers now look at credit scores when underwriting a policy. It is also possible that property may be lost as certain assets will be sold to repay the debts under Chapter Seven bankruptcy. A person can potentially lose a home or a car under this plan. if the property is not sold, an individual is still responsible to pay any existing mortgages or loans. though retirement accounts are often protected, this is not always the case. Depending on state law, 401Ks, IRAs, social security, government pensions and other retirement accounts may be used to repay debt. not all debt can be eliminated under bankruptcy. Back taxes, child support, student loans, alimony, and certain others cannot be taken care of with bankruptcy. There is no doubt that bankruptcy can have severe adverse affects on one’s financial situation. Carefully Decide if Bankruptcy is the Right Option The financial crisis is real. People are out of work, companies are closing their doors, and many individuals are buried under mountains of debt. It is not a pretty picture. One of the alternatives available for those struggling with excessive debt is to file for bankruptcy. does bankruptcy offer a viable solution for people who see no other way out from under their excessive debt? Or is it something that seems like a golden ticket but may have too many negative long term consequences? Before seriously considering bankruptcy, it is vital for anyone in this situation to carefully research every option. Bankruptcy is not a quick fix; it has long term consequences that will severely affect a person’s quality of life for several years. Reasons to Avoid Bankruptcy

I'm not getting any responses to the Emails I have been sending for jobs through Craigslist. I know the market is BAD but I just want to make sure that my resume is okay, and its not turning off employers. Here is the Email I send to potential jobs. Hello, I am responding to the ad on Craigslist. I feel my experience makes me a qualified candidate for this position, and I would love an opportunity to interview. I am a very reliable worker, and I have alot of drive to succeed. I am determined to find a position that I can keep long term, and I feel I would be a great asset to your company. My salary requirements are $15 an hour, but are negotiable depending on the position. I look forward to your call, and thank you for reviewing my response. I have pasted a resume below for your review. Best Regards, Amanda M**** Amanda M***** 123456 W. Cerritos Ave |Anaheim, Ca | (714) Objective Seeking an office position in a growing, fast paced and friendly environment. I would like to utilize my strong organizational and time management skills. I enjoy either working in a small office where I have the opportunity to learn most if not all aspects of that business. Or in a large office where I have the opportunity to show my skills and dedication, and prove that I am a great candidate for advancement. I pride myself in taking great knowledge in my job, and I learn as much as I can about the business I am working for, so that I am a valuable asset. Skills Profile - Microsoft Office, including Word, Excel, PowerPoint, and Outlook. - QuickBooks. - Knowledge of Internet. - Ability to handle multiple tasks. - Ordering office supplies. - Accounts Payable, Accounts Receivable, Billing, Invoicing, Payroll, Collections Petty Cash. - Knowledgeable in office procedures and office machines. Employment History Bartender 10/2008 - 09/2008 Malone's Bar & Grill Santa Ana, Ca Starting Pay: $8.50 Ending Pay: $8.50 - Serve drinks and food to all patrons. - Manage cash register accurately. - Provide excellent customer service, and maintain all aspects of the bar from cleaning and stocking to answering the phone and booking bands and entertainment. Office Manager 06/2008 – 10/2008 Hired Gun Exterminating Garden Grove, Ca Starting Pay: $15.00 Ending Pay: $15.00 - Sit in Office Manager while permanent Manager was on medical leave. - Answer phones, and schedule and dispatch all pest control jobs. - Enter all termite reports and mail reports to customers. - Receive and enter payments for jobs and yearly control policies. Bill customers for yearly controls and occasionally for termite jobs. Office Manager 01/2006 – 03/2008 Super Dave’s Print & Mail Santa Ana, Ca Starting Pay: $13.00 Ending Pay: $16.00 - Input all A/P and A/R, and pay all invoices in a timely manner. - Payroll for 10 employees through ADP. - Maintained account with Health, Life, and 401k companies. - Schedule and dispatch drivers and make sure route is most time efficient. - Sent statements once a month to customers. - Schedule tasks and meetings for all office employees. - Answered 4-line phone, maintained high standard of customer service when speaking to all customers, including remembering customer’s names and order history. - Kept close track of job scheduling, ensuring that no jobs were forgotten, and completed as scheduled and on time. - Use QuickBooks for accounting and PRINTLeader software for all job management. - General office duties included: Bank deposits, ordering office supplies, handle customer transactions, took credit card payments, manage reception desk, and all other general office duties. Administrative Assistant 02/2005 – 01/2006 HCS Cutler, Inc. Rancho Cucamonga , Ca Starting Pay: $11.50 Ending Pay: $13.50 - Managed and logged cash reports printed from registers at 8 different locations. - Managed all bank deposits ensuring timeliness and accuracy as well as reconcile monthly statements. - Investigated and resolved and credit card disputes that were filed.. - Managed a fleet of 60 vehicles, including class A, B, and C trucks. - Completed any necessary paperwork for CA DMV. - Handled all car insurance needs, including: Filing auto accident claims, filling out accident reports, adding and deleting drivers and vehicles to the policy, and following through with adjusters to make sure claims were handled properly. Office Manager 10/2002 – 02/2005 Telcom Services Riverside , Ca Starting Pay: $7.00 Ending Pay: $9.00 - Maintained data logs
by Resume Machine @ September 14, 2009 9:14 pm
Let me start off by saying, I work in a career center, I see resumes all the time and i hear from employers what they want in resumes and what they look at. That said these are my recommendations. Your resume is waaaaaay too long, it should be one page MAX. I hear employers who say they THROW AWAY resumes longer than 1 page; they don't even look at them. Your objective is way too long; it should be one to two sentences. Also, it is innapropriate to make salary demands in your cover letter. This should explain who you are and why you are applying to the position and anything else that your resume doesn't say. Don't put in the bartending job, it looks like you didnt have it very long. Don't start with your skills section, end with that and dont put any skills in there that you mention when summing up your job duties, no need to put it in there twice. Don't put the salary you received in those positions. If the employer wants to know, they will ask. Finally, you have a couple spelling/grammar mistakes as well. Oh yeah, almost forgot. LA area is one of THE HARDEST places in the nation to find a job right now. To say the job market is hard now is an understatement. It's an employers market right now, by which I mean employers get hundreds of applicants for one job. You need to be better than all of them to get a job. Consider taking classes right now if you can, if only to add it to your resume and say you are working on new skills.