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Legal

Reasons to Consider Bankruptcy

As millions of American’s are feeling the sting from the recession, they are using Chapter 7 and Chapter 13 bankruptcy to dig themselves out. Since so many people are faced with unemployment and underwater mortgages, they are being forced to reassess their personal situation and make important decisions that will impact their financial future.
Virtually any bankruptcy attorney will tell you that if your debt has reached an unmanageable stage, then you should consider bankruptcy as one of your options. Of course, making the decision to file for bankruptcy should never be taken lightly – one has to do so while taking into consideration all of their alternatives.
Have you already tried to negotiate with your creditors? Suppose you have exhausted your resources. If you have tried to negotiate with your creditors and they have not budged or if you are unsatisfied with the terms of your agreement, bankruptcy might be a better option.
Do your liabilities exceed your income? If your monthly payments cost $6,000 a month, but you are only bringing in $4,000 – you have a problem. At this rate, there’s no way that you would be able to compensate for the deficit unless you either filed for bankruptcy or miraculously found a much higher paying job in this economy.
What types of debts do you have? If a majority of your debts are unsecured such as medical bills, credit cards and old taxes – then bankruptcy might be an optimal solution.
Do you have a steady source of regular income but can’t afford to keep up with your monthly expenses? Or, do you want to keep your home from going into foreclosure? If this is the case, filing for Chapter 13 bankruptcy would allow you to pay all or a portion of your debts over a three to five year period. This is a debt reorganization bankruptcy that allows you to pay monthly payments at a rate you can comfortably afford.
Have you already exhausted all of your options? Have you already maxed out your credit cards? Have you borrowed money from friends or relatives? Have you already taken out a second mortgage on your house? Unfortunately, borrowing money is more of a band-aid than a permanent solution to a problem. Borrowing money from one source to pay off another source only serves to increase your total debt load, as opposed to reducing it. Borrowing can be a downward spiral for many individuals and a significant warning sign that trouble is brewing.
After assessing your situation, if you truly feel that bankruptcy is your only option – don’t wait. The longer you wait the worse things will get. A qualified bankruptcy attorney will be able to sit down with you and go over the details of your situation. They will be able to give you a good idea of what you should do next. In fact, they can probably paint a clear picture for you in just one consultation. You have nothing to lose from their advice, so contact a lawyer today!…

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Legal Advice

Reasons to Consider Using Franchise Solicitors

Franchising is a specialist area of the law and if you are thinking of going in to it, you need to get the right advice first.
They make sure that you understand what’s happening and that you get the right kind of agreement for the sort of business you will be working with. If you’re on the fence as to whether you want to become a franchisee, read on to find out some of the best reasons you should definitely think about it and get on the phone for some specialist franchise legal advice from expert solicitors.
Tried and tested business
One of the best reasons for becoming a franchisee is that you will have a ready-made, tried and tested business to work from. If a company is looking for franchisees then it is more than likely to be because it is enjoying success and it wants to expand. If you decide to take on the responsibility, a lot of the work of setting up the business will already have been done for you so you’ll be able to get down to business much quicker than if you were setting up your own business from scratch.
Plus, your franchise solicitors will be able to walk you through the process so you’ll be able to feel more confident about taking on the challenge.
Support in setting up
Having a tried and tested business is also beneficial when it comes to support for setting up. The parent company is likely to have a range of manuals and other training material that you will be able to utilise. This will be useful when it comes to putting the business’s principles into practice and training staff. It will give you a good understanding of how to go about running the business, which will hopefully help you to turn your new business into a success.
Marketing benefits
Franchise solicitors will also be able to explain some of the benefits when it comes to marketing if you decide to become a franchisee. Marketing a business generally takes a lot of time and effort – this is true of all businesses, but if you are part of a franchise then it is likely that the parent company will take a role in marketing the business and may provide you with marketing materials that you can make use of.
Network of support
Finally, and especially if you become a franchisee for a company that has significant experience in the area, you’ll have a good network of support around you. Being able to talk to other franchisees can help you get through the process and they can give you advice on setting up your business. As well as the franchise legal advice and support from your specialist solicitors, you’re sure to be well on your way to success.…