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Top Factors Influencing Bankruptcy by toriola1


									Presented by Daniel Toriola
Bankruptcy records could deter future partners or companies from ever engaging in business with you again because of your poor financial history. On the other hand, it may also demonstrate how you were able to rise above adversity. Click here to know more

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Top Factors Influencing Bankruptcy By Steffen A.Hall

The term Bankruptcy is derived from the Italian word banca rotta, meaning broken bench. It is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. However, there are specialized units for bankruptcy in each federal district court. Under the Federal Bankruptcy Act, these district courts take care of the bankruptcy filings and other functional procedures. Factors Influencing Bankruptcy: The following factors seem to influence bankruptcy, in general. But a combination of all these factors is however found to have greater impact on Bankruptcy. 1. Rising Unemployment: Unemployment or sudden loss of job is a key factor influencing bankruptcy. In order to maintain an optimum standard of living, unemployed people are more prone to taking debt without the ability to pay back. Thus accumulated debt level rapidly increases resulting into Bankruptcy. 2. Broken Marriage: Rising divorce rates are seen to have influenced the number of bankruptcy filings. This is because in most cases one or both the parties suffer financially due to legal separation. Divorce rates are almost 50% now, thus, if divorce is being considered, take note of this fact! 3. Credit Card Usage: The more the number of cards, the more will be the amount of debt. With the increase in the number of accounts used by each adult, the rate of filing bankruptcy also increases. Research shows that the most number of people who are in debt are young adults between the age range of 25 to 30. This is the age of 'Credit Card Spending', which is spending more than their income. Before 30 years old, they are already in debt. 4. Debt Income Ratio: Debt :. With the rise in debt-income ratio, rate of filing bankruptcy also increases. Your Outstanding Debts A bankruptcy may not necessarily dissolve all of your debts. Some types of debts may be exempt from bankruptcy like alimony, maintenance, child support, educational loans, taxes, including income, property, withholding, and employment taxes, fines, penalties, or forfeitures payable to the government, some punitive damages, and debts based on fraud.

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Presented by Daniel Toriola
How to Overcome Bankruptcy? After knowing the main factors influencing bankruptcy, you must try your very best in avoiding these mine traps. You must, at all cost, avoid bankruptcy as it does more damage to you than you can imagine! One main problem most people encounter after declaring bankruptcy is difficulty in getting new employment. Regardless of what the law says about discrimination against personal bankruptcy, but in real life, these people do face many challenges and discriminations. If you have financial difficulties now, take the next step in solve them but getting a debt consultant. Debt consultants are experts in debt reductions and can certainly help you regain a stable financial footing. How do you Avoid Bankruptcy? Solutions and Advice at

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Balanced Score Card - A Better Approach For Maximizing Performance And Maintaining Results. By Nick P. Bentley

If you are a part of an accounting or check department of any major or even minor company, you would probably have heard of a balanced score card. What is a balanced score card you ask? Well, if you aren’t aware of the term itself, you would surely be aware of the principle behind it. Remember your SAT scores Rather than being absolute values like say 95 out of a hundred, they were typically presented in percentiles. This is one instance of a balanced score card. Another instance could be the percentile rank of your status in a class as compared to a percentage rank. Well, it is not exactly an easy concept to explain, but allow me to try. When anything needs to rated, there is usually a principle for the rating. In the older days, when things were more linear, this happened as a linear calculation. But, as the business environment and businesses themselves got more and more complex, other variables started influencing business operations. In order to arrive at the true picture, these too needed to be taken into consideration before a proper study could be made. This was the idea behind a balanced score card. To take a real life example let us assume that the sales figures of a particular product are being evaluated across the world. Now the sales would surely not be consistent across the world. But the sales managers would surely have tried. There could be external business environmental factors influencing the sales in one or more regions. For instance, the business climate in Brazil could have been worse than the climate in the US. At the same time, the resources available in the US could have been greater than in Latin America. Similarly, the market in China could have been impacted by the presence of low cost me too operators. While the technology incompatibility could have made the product dearer in markets such as Japan. Now no rational manager would expect the sales figures from all over the globe to be consistent. Which is why a tool such as a balanced score card comes into the picture. A balanced score card weighs the factors influencing an action (in the above case sales) against the availability of factors that help or obstruct it. Which is why, when a balanced score card analysis is done, the sales figures for Latin America could prove to be better than those for America due to the weightage awarded to the factors influencing sales. A balanced score card is just one way to do so. There are others as well. But their objectives are consistent. Think of a balanced score card as some sort of a handicap for resource and opportunity poorer markets. Nick P. Bentley provides readers with up-to-date commentaries, articles, and reviews for, as well as other related information.

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