Not
ready to close your business? Proven steps for turning failing
business around.
Some business owners feel as though they are against a wall with
debt and contractual obligations. They are exhausted. Their leases,
loans, and contracts pile up, while their money dwindles. Their
business is ruling their life and they just want to get out.
As a frustrated business owner, you may find yourself in this
situation. You may have tried to turnaround your failing company
with little success. And if you have no buyer on the horizon, you
may have decided you've had enough. It's time to close your doors.
But how do you go about doing this? You will find rows of books
at your local bookstore that cover how to start a business, but
little on how to close one. How will you meet the obligations of
your loans and lease? Do you owe money to the IRS, individual agencies,
or contract workers?
There are many items to consider when you close a business. And
you have some choices to make when it comes to getting rid of debt
and folding your company. Let me explain.
Straight
talk about business bankruptcy and closure
Credit card holders struggling 05 Bankruptcy Reform Act has passed: Credit card holders struggling with options as minimum payments set to double
DTS Financial explains bankruptcy alternatives that consumers should be aware of.
Moorpark, CAOctober 1, 2005-- Credit card debt is crippling the nation’s economy. With the new bankruptcy law having been passed and the minimum credit card payment expected to double, consumers now have very few options when dealing with their mounting debt, according to Alex Viecco, Vice President and co-founder of DTS Financial Group, Inc.
During the latter part of the fourth quarter, most credit card lenders are expected to act in accordance with the standards set down by the Office of the Comptroller of the Currency (OCC). Most lenders are expected to double the minimum payment from 2% of the balance to 4% of the balance. The new standards require credit lenders to apply more of payment sent in towards the principal. The good news surrounding this is that fewer consumers will fall behind on their debt payments in the future; the bad news is that in the interim, consumers that cannot pay any more will be forced to file for bankruptcy. "We want the public to know that there are viable alternatives other than filing for bankruptcy,” states Viecco. Listed below are the five options:
1.Ignore the problem and hope things get better. This is obviously the least effective and can only compound the problem.
2.Debt Consolidation loans. Not everyone owns a home in order to tap into the equity. Also, most of the lenders are going to charge high interest rates due to the consumer’s current financial state.
3.Credit Counseling. These firms negotiate with the credit lenders on the interest only. This industry is backed by the credit card companies.
4.Bankruptcy. This was an alternative that many chose but with the passing of the Bankruptcy Reform Act, it is no longer a possibility for many consumers.
5.Debt Settlement. This is the quickest route to eliminating consumer debt. This option usually results in settlements that significantly lower the original balance and there is no bankruptcy judgment on consumer’s records after completion.
About DTS Financial
DTS Financial Group, Inc. (www.DTSfinancial.com) provides consumers a solution to credit card debt through their Debt Settlement Program. Based in Moorpark, Calif., DTS Financial is a member of the BBB, has more than 2000 clients nationwide, and has settled more than $20 million worth of consumer debt.
Contact:
Keith Baldwin
DTS Financial
http://www.DTSfinancial.com
888-632-3328
About the author:
Keith Baldwin
DTS Financial
www.DTSfinancial.com
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Straight
talk about business bankruptcy and closure
employee background checks security checks on the increase
In the aftermath of 9-11, and the growing problem of workplace violence, the demand and need for employee background checks and security checks are now greater than ever. Employers are turning to investigative companies in greater numbers to run employee background checks on new job applicants and existing employees, including positions where security may not have previously been given much consideration in the "pre 9-11" era. Many employers are now requiring security clearances for many non-defense related "high-tech" positions including computer programming. Employee background checks are. . .
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