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Accounting Homework Help

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Hopeless Because Of Poor Credit You Can Acquire A Bad-credit Home Loan Refinance

Poor Credit Borrowers

Because of these unhealthy economic times, many home buyers are entering the home refinancing market and bringing with them some pretty lousy credit scores. National, even global, financial issues have caused many folks to take severe hits on their credit ratings. Temporary joblessness, investments gone awry, maybe just some unfortunate mistakes, have descended on many home owners. Yet these borrowers are still a great potential market.

Poor Credit Refinance Lenders Want Customers

Just like anybody else, people with poor credit histories need to get their hands on cash from time to time. Or they need to get out from under mortgages that are onerous due to high interest rates and uncomfortable repayment terms. Lenders have recognized this new class of potential borrowers and have started offering bad-credit home loan refinancing with more relaxed standards. Qualifying is not as hard as it used to be.

Lenders Accommodating Poor-Credit Home Loan Refinance

When poor-credit home owners start thinking about refinancing their home, they usually have some combination, or even all, of these goals in mind.

* They want relief from high interest rates.
* They want more manageable monthly payments.
* They need to get their hands on some cash.
* They want to improve their credit scores.

Traditional Lenders Still Tight

Despite the fact that many poor credit home buyers have taken hits on their credit scores, and despite the fact that many poor credit home buyers are in the market for a poor credit home loan refinancing, traditional lenders banks and credit unions are still somewhat reluctant to lend. This was especially fostered by the home loan debacle at the last part of the last decade. Lenders were passing out loans to clients who could not afford them. So, traditional lenders are especially shy of those with bad credit histories.

Finding Lenders for Poor Credit Home Loan Refinance

Despite the reluctance of traditional lenders to refinance poor credit borrowers, you still should consider them if you have had accounts with them for a substantial period. They may be willing to help. You might even want to consider local, store-front lenders. However, go online to find a lender who will work with you regarding reasonable interest rates and comfortable repayment terms. Point your browser to poor-credit home loan refinancing and you will be rewarded with scores of lenders willing to work with you.

Rewarding Hope Online

Once you are searching online for a poor-credit home loan lender, you will also find brokers. These people will take your general personal and financial information and present you with a list of lenders who will probably be interested in refinancing your poor-credit home loan mortgage. Since the market place is so crowded, you will probably be able to pick and choose among the lenders to find an institution that will offer you the best loan, with the lowest interest rates and the most comfortable repayment terms.

Shopping Effectively

You need to be wary as you would be for any online transaction. Make sure any website where you divulge personal and financial information is secure. Make sure your lender is reputable. At least check a prospective lender with the online Better Business Bureau. There you will find grades from A-F, as well as feedback from past customers. Once you have cleared 5-10 lenders, ask for quotes from each. Let the agent know that you are getting quotes from other lending businesses as well. This may prod them to offer slightly lower rates because of the competition. If you are wise, there is no reason for you not to have a poor-credit home loan refinancing with interest rates you can afford, and monthly payments that are comfortable for you and your budget.

Can Debtors Afford Bankruptcy Finding Low-Cost Bankruptcy

There seems palpably in the air, one ominous additional burden
for the average heavily indebted American debtor and consumer in today’s
dire national economic conditions who may perhaps see his only recourse
for some relief, in filing bankruptcy: finding low-cost bankruptcy,
finding low-cost bankruptcy that you can afford. Meaning, in essence, a
non-lawyer pro se alternative.

The latest figures just released by
the Administrative Office of the U.S. Bankruptcy Courts on the February
2009 bankruptcy filings, made one vital reality crystal clear to almost
every one, namely, that the rate at which the increasingly overburdened
and restive American debtors (both individuals and businesses) are
filing for bankruptcy, is at its highest levels since the now-famous (or
infamous, many would say!) draconian changes of 2005 to the U.S.
bankruptcy law. But, even more significantly, that the new filing rate
is ominously beginning to return to the old “hated” high bankruptcy
filing levels that the nation had reached before that new law was passed
in 2005, supposedly meant to correct and drastically curtail or reverse
the then pre-existing high filing levels.

This latest trend in
American debtor bankruptcy filings strongly underscores a few
fundamental points, among others. First, the depth and gravity of the
financial straights and difficulties in which the average American
consumer and debtor is in today. Second, the reality that, no matter how
difficult a legal hurdle and impediment the institutional powers that
be (the Congress, the lawyers, or the financial institutions, the
courts, etc) may try to place on the path of the American debtors to try
discouraging or making it more difficult for them in seeking the
bankruptcy relief from their debt burdens, when it really comes time of
dire financial and economic crunch, Americans will somehow still find a
way, and will still persevere and persist even against all odds, in
demanding their constitutional rights to be heard in bankruptcy; and
thirdly, the critical necessity, for the average debtor, for finding
low-cost bankruptcy filing alternatives to lawyer.

Warren, a Harvard Law School professor and author of several books on
bankruptcy, probably sums up the point best this way, alluding to the
persuasion of the Congress by various special interests to pass the 2005
law that restricted debtors from filing for bankruptcy: “The credit
industry [and other vested interests] did its best to drive up the cost
of filing [for bankruptcy]. But when families are in enough trouble,
they will fight their way through the paper ticket and higher attorneys’
fees to get help,” adding that “The word is now leaking out [once
again] that the bankruptcy courts are open for business.”


even most importantly than that, from the standpoint of the average
bankruptcy-seeker today, this raises one fundamental questions, however.
Namely, just how do the current growing army of increasingly despairing
American debtors who not only seek to file for personal or business
bankruptcy, but in a great deal of cases, truly NEED to file one, AFFORD
to file bankruptcy – in particular, the high lawyers’ legal cost of
filing for bankruptcy? How do these debtors get or find low-cost
bankruptcy? A bankruptcy that debtors can reasonably afford?

1.1 million (1,064,000) American debtors filed for bankruptcy this past
2008 year – filings which, many analysts are quick to remind us, were
carried out by these debtors in spite of, and under tough conditions of,
a whole host of stringent, restrictive requirements and drastically
increased legal fees imposed by the 2005 law. But, even more
significant, from the stand point of the debtor or bankruptcy-seeker, is
another closely related FACT: that, worse still, according to experts,
bankruptcy and are eligible, but could not, because they simply couldn’t
AFFORD the lawyers’ legal fees. These are debtors who Justin Harelik, a
bankruptcy lawyer with Price Law in Los Angeles, call the “unofficially
bankrupt debtors” – debtors who are all but bankrupt but only lack the
lawyers’ hefty price to make their status official!



Year…….Bankruptcy……. Filings……… Source & Notes

1998…….1,442543……….AO data……(Office of U.S. Courts)

1999…….1,319,465………AO data

2000…….1,253.444………A.O data

2001…….1,492-129………AO data

2002…….1,577,561……..AO data

2003…….1,589,383………AO data

2004…….1,597,462………AO data

2005…….2,078,415………AO data……..includes spike in filings before 2005 bkr. law

2006…….590,544………..AACER data…(Automated Access to Court Records)

2007…….826,665………..AA.CER data

2008…….1,064,000………AACER data


deed, though many bankruptcy lawyers would rather that it be
sugar-coated, many other lawyers, themselves, objectively acknowledge
that the lawyers’ legal fees for bankruptcy is a principal frequent
issue and concern to debtors and clients in bankruptcy law practice.

have to pay the Chapter 7 legal fees upfront in cash. You can be too
poor to go bankrupt,” is how Professor Robert M. Lawless of the
University of Illinois College of Law once put it.

observer, Jenny C. McCune, a contributing editor at, notes
that rather astoundingly, we’ve now come to the point where a debtor may
have to “finance bankruptcy filing,” adds: “It may sound like a
Catch-22…you have no money so you’re filing for bankruptcy, but you
need [legal fee] money so you can file for bankruptcy.”

Jonathan Ginsburg, bankruptcy attorney, Atlanta, Ga.,
explains that in phone conversations he often has with callers facing
severe financial crises who are pondering possible bankruptcy, after
their initial question which is often general in nature, “The next
question I get has to do with fees: ‘If I have no money, how am I
supposed to pay for a lawyer?'”


lawyers, schooled in the art of argumentation and the defense of even
the clearly indefensible, particularly when it centers on the protection
of a lucrative means of making a living, would often plunge into what,
in essence, are really deep philosophical arguments in justification of
the high fees they charge – it is really still a “bargain” for debtors,
considering the much larger sums they stand to discharge in bankruptcy;
if a debtor is “really” hard pressed enough by his debt burden and is
“serious” about freeing himself of it, he’ll somehow find a way; a
debtor, if he is really “serious,” can always find the lawyer’s fees
somewhere by, say, withholding the payments he would have had to make to
other creditors and then using it to pay the lawyer to free him of the
bigger debt burden, etc., etc. It is a complex web of arguments that
would have to wait for another day to address. But, for our current
immediate purposes in this article, the relevant issue is crystal clear.
The point, clearly, is that for the average American debtor today,
already reeling from the high debt burden which is the prime object he’s
out attempting to address through bankruptcy filing, the average
lawyer’s fee for bankruptcy (some $2,000 or more for the simplest
Chapter 7 bankruptcy, and $4,500+ for its Chapter 13 counterpart) is
high, in deed even exorbitant, and frequently is just plain beyond his
means – in short, simply UNAFFORDABLE.


that the bankruptcy lawyers, through greed and monopolistic instinct,
are gradually pricing themselves out of the personal bankruptcy filing
business, that the only realistic alternative now left to be tried,
seems to be a non-lawyer low-cost bankruptcy option.

“Surveys have
shown that many attorneys have doubled their fees to cope with new
requirements imposed by the BAPCPA of 2005. Many thousands of debtors
have therefore been priced out of lawyer representation in their
bankruptcies,” asserts Stephen Elias, a California attorney and
bankruptcy specialist and author of several books on the subject.
“Because of rules governing the practice of law, the only legal
alternative to attorney representation is self representation…
bankruptcy petition preparers can assist with your paperwork.”

point then is crystal clear. The fundamental task at hand this very
minute in the field of bankruptcy, is devising a credible system that is
low-cost for filing bankruptcy, which is simple, straightforward, and
readily accessible, and is, above all, AFFORDABLE to most debtors who
legitimately seek or need bankruptcy and are qualified and eligible to
file under the eligibility rules. It is, after all, no “gift” or some
kind of “favor” being meted out by “the law,” or some kind of
mercy-peddling do-gooders of the legal establishment. But, a direct
sacred right and gift of the American Constitution.

It is a task
which confronts us all, particularly the bankruptcy constituency and the
bankruptcy industry powers-that-be who control the current bankruptcy
system – the financial and credit industry, the courts, the Congress,
but including private entrepreneurs and ideas persons who can come up
with new or fresh ideas about how to fix the current broken personal
bankruptcy system, and yes, the current bankruptcy lawyers and bar, and

But, of more immediacy and urgency in the mean time,
however, while we await such a new system to be designed by the
responsible parties, qualified American entrepreneurs, institutions and
entities who are able, should be free to come up with practical and
effective ways and methods – alternatives to the current wholly
deficient and inadequate lawyer-controlled bankruptcy system – that
actually enable legitimate bankruptcy seekers to exercise their
legitimate constitutional right to seek the bankruptcy relief option
when and if necessary – simply and AFFORDABLY.


point is that, America, in both its public as well as private sectors,
must fast prepare for, and devise and implement, a drastically different
but effective bankruptcy filing system that provides the current
million plus per year and the upcoming additional millions of bankruptcy
filers who will be coming into the bankruptcy filing pipeline per year,
a genuinely affordable means for them to file for bankruptcy – the 1.4
million American filers (or more) that are expected to seek the
bankruptcy relief in 2009 calendar year alone, and beyond.


more on finding some low-cost but non-lawyer alternatives that you may
use to do your bankruptcy, other than the traditional lawyer-dominated
filing system which is generally prohibitively expensive? An alternative
that will drastically cut down your cost of bankruptcy? Please visit
this site: http://WWW.Afford-Bankruptcy.Com/proSeBankruptcyTrend.html

Try To Stay Away From Bad Debt And Bankruptcy

Bad debt is an amount, where business suffers loss and that loss is counted as an expense, as the amount can’t be recollect by the owner. If the debtor declares bankruptcy, problems like bad debt arise. Bad debt is also known by money; therefore it is counted in expense. To account for bad debts, there are two types. They are allowance method and direct write off method. In allowance method, there is a rough idea made at the end of the year for the account of bad debt. It is done, so that they can decrease receivable amount. Many companies make bad debt allowance, as all debtors may pay in full. Money which you cant collect is called as debtor. It mainly arises, if the service or product is given on credit. If customers makes delay payment and later refuses to pay, than its understood that its a bad debt. Bankruptcy means the business which is not able to pay debts.

The process of bankruptcy starts as the petition is filed on creditor’s behalf or by the debtor’s. To recover the debt portion, all assets of debtor is evaluated. As the process of bankruptcy completes, debtors get a sigh of relief. Not to do bankruptcy fraud, as it is a crime. Strategic bankruptcy is different from fraud bankruptcy and is not a criminal act, as it can work against filer. Bankruptcy can disclose all the assets of the debtor. If petition is filed for bankruptcy, creditors can decide debtors assets value. In 1874, India came up with individual bankruptcy law, but still couldn’t got law on corporate bankruptcy. In U.K bankruptcy law got changed, where if debtors facing bankruptcy has to give all occupational pensions. The origin of bankruptcy law came up first through England, but is now known more in U.S. Bankruptcy can sometime lead to death, as there is loads of tension on debtor’s head. Always try not to follow in such cases. You can gather more details regarding bad debts and bankruptcy by visiting various web sites and different sites.

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Do you Qualify for Home Loan Modification

If you’re one of the many homeowners hit by the economic crash, chances are you’ve looked into refinancing, short sales, and other ways to help you get back on track. But if you’re in serious default or are at risk of losing your home, your best bet may be a home loan modification. Also called a mortgage modification, this process involves negotiating with your lender for more comfortable mortgage terms. The government has launched a home loan modification plan, known as Home Affordable Modification Program, designed to help troubled homeowners get better terms.

Each lender has a different standard for granting loan modifications, but the general requirements are pretty much the same. Below are some common cases that may make you eligible for a home loan modification.

Financial hardship Maybe you lost your job, got divorced, or had to pay emergency medical bills. These are all valid reasons (especially in this economy) for falling behind on your mortgage. Note that to qualify for a loan modification, the hardship has to be temporary and you have to have sufficient income. Provide bank statements or financial documents to show that youll be able to keep up with the modified loan.

Adjustable-rate mortgages A lot of today’s home defaults can be attributed to adjustable-rate mortgages, most of which were issued during the sub-prime boom between 2004 and 2007. Once the teaser period ended and the rates reverted to normal, many homeowners found themselves unable to keep up. The government’s home loan modification program allows these homeowners to return to comfortable mortgage terms, so they can avoid foreclosure and save their credit.

Falling home values Many people have found themselves unable to refinance because their home values have fallen, sometimes to a point where they owe more on the home than it’s currently worth. However, decreased home value alone won’t qualify you for a home loan modification, as home values are expected to rise and fall during the life of the loan. But combined with other factors, a decreased value can certainly increase your chances.

Lending violations Sub-prime lenders have been found to violate a number of laws on fair lending, and you can use this to your advantage when applying for a Home Loan Modification. Have a qualified loan modification attorney review your case and see if there are any violations you can use for leverage. With an experienced lawyer, you can negotiate more strongly with your lender and come out with a much more agreeable deal.

SBI to bring in green-channel banking

The State Bank of India is set to introduce green-channel banking to promote paperless work and reduce footfall of customers in the already over-burdened ATMs and branches. p>

SBI general manager for network-I D Mozumdar said here on Saturday that apart from regular counters, a new counter was being opened in which customers could swipe their ATM cards and enter the pin code to receive cash from the person manning the counter. “In this way, there will be no requirement for paperwork and the process of money withdrawal will be fast,” he said.

Under the financial inclusion scheme of the Reserve Bank of India, SBI has been asked to take up responsibilities in 43 of the 156 “under-banked” blocks of the state, besides extending banking facilities to 408 villages having a population of over 2,000 people. Mozumdar said SBI would connect 200 villages by March this year through different banking techniques. “We do not require brick and mortar branches these days to extend banking facilities because technology has made the work easier and SBI is fortunate to have all the modern banking technology,” he said.

All 200 villages where SBI is planning to launch services by March will be on technology platform that includes micro-ATM or mobile-based banking in which the customers having a mobile phone can access his or her account through the cell phone and bio-metric smart cards by which a user is identified on a hand-held machine through finger prints. Business correspondents appointed by bank will also disburse cash along with printed receipts and through kiosk-mode in which the bank provides a laptop with face-reading and voice-recognition software to enable transactions.

Forex Broker When You Don’t Know Where to Start

When you don’t know where to start in “FX,” you should go to a forex broker. He or she will be able to help you get the tools you need so you can begin trading in foreign exchange markets. They can also assist you in your education. Here are some reasons why a broker is the perfect starting point for anyone who wants to make money in the field of trading currency pairs.

Forex brokers will give you a trading platform. Like many other forms of trade, you will need a platform to be able to participate in the exchange of “goods.” In the case of forex, the trading platform is often a computer program that connects the trader to the market. It uses the Internet as bridge and could be based locally on your computer or on the broker’s server. Either way, you can get it for free from a forex broker website. All you need to do is to search for these sites online.

Another thing to get you started in forex is a trading account. This time, it’s an account where you will deposit the money you’ll use to buy currencies. Although it is similar to a bank account, you will need to open it with a broker, not with a lender. But since you are just getting started, the best way to go about it is to get a free “demo” account. The demo account is a dummy trading account meant to allow traders to practice the commerce without spending money. It’s a practice account and you can get it from forex brokers for free as well.

They will also give you education. Brokers want you to make money when you trade. That way, they’ll be able to take a small cut off your gains. However, this is not the set-up all the time. In some cases, the forex broker will manage your account and trade for you. Regardless of the set-up, they will educate you on how the whole financial market works and how you can benefit from it. Education comes in many forms including articles and videos.

Finally, it’s best to get started in foreign exchange with the help of forex brokers because they can give you inspiration. This is especially true if you happened to be under a very experienced broker. You will need not just the tools or the education; you also need the drive. And sometimes, all it takes is listening to brokers’ success stories.

Bridegette Sean Forex Enthusiast Forex Brokers


Michigan Debt Consolidation Program – To Escape Your Financial Problems

If you are also tired of struggling with your loan payments, it might be the best time to start taking debt consolidation loans into consideration. Delayed loan payments will only continue to mount as the interest rates will pile up and additional fees will be tacked on. Debt consolidation is all about signing an agreement with the creditors to accept a reduced lump sum amount of payment. With the help of this process, you can easily reduce the huge amount you need to pay back, while simultaneously reducing your monthly interest rates. So, this program brings back on track those people, who are facing some kinds of major financial crisis in Michigan. Michigan Debt consolidation is an approach taken by both the debtor and the creditor to reach an agreement to pay a reduced amount of the total balance payable as a full payment. This program includes a large one-time payment against the existing huge amount of debt with the purpose of being given clemency on the remaining amount.

In fact, debt consolidation is a court authorized debt consolidation plan under chapter 13 that is designed to provide reasonable repayment terms and court protection for your assets such as a home or vehicle. The main functions of this program are to consolidate, prioritize and reduce your debts. It refers to protection of your assets from your creditors while you work through financial circumstances to decrease your debt and improve your credit again.

There are a lot of people out there who are worried about the credit card payments. One of the most common causes of outstanding debts is using too many credit cards, and being unable to handle the finances systematically. For that purpose, credit card debt consolidation programs are the only way out if you have accumulated more debts on plastic money. There are various online debt consolidation companies that offer free consultancy on debt consolidation, by having the situation analyzed by financial experts, who will work for you, to get rid of the debt within a couple of years. The expert financial analysts from these companies offer negotiations with your creditors and can reduce the outstanding dues by as much as 50%, reduce interest rate, and get the additional late fee charges and other penalties waived off. You just have to simply make your monthly payment to the debt consolidation company, who in lieu settles your various creditors. After that, you can relax as they have made positive action and paved the way towards a debt free life with no longer stress of numerous creditors.

About the Author: The author is an expert financial analyst cum blogger. He has written a lot of article on various topics of debt consolidation. In this above article, he explains that Michigan debt consolidation program and credit card debt consolidation programs can be an alternative to filing bankruptcy in Michigan.

Sage Accounting Software Overview

If a company is to be successful, it is integral that they have access to stable and reliable accounting. While basic operations can be performed in any spreadsheet program, as the business grows, its accounting needs also get larger and become more specialized.

This is why dedicated accounting programs exist in order to handle the growing demands of developing companies. Sage has a great record in creating software for businesses of all sizes. They already make the leading contact relationship manager, ACT, but they also have a range of superb accounting options dedicated to serving particular kinds of business.

Their accounting software is the prime choice for any small business that is just starting out. It has a robust system that enjoys full accounting functionality. The on-screen interface is very user friendly, with intuitive controls that lets you tightly control the flow and presentation of your data.

Peachtree accounting software also has industry specific variants such as Distribution, Construction, General Accounting, Manufacturing, and others. These variants meet the special needs that each of those businesses requires.

Growing businesses that feel they need something more powerful than Peachtree can then graduate into using MAS90 software. This program is perfect for middle level businesses with high volumes of financial data. Its core accounting functionality is supplemented by even more specific variants than Peachtree. Examples of additional modules include Customer Relationship Management, Human Resource Management, and Business Intelligence. The design also realizes that customers may have previously utilized Peachtree and thus includes mechanisms for the smooth transfer and transition of records and operations.

A company that has bloomed into a truly significant market entity has accounting needs that are truly advanced. Sage MAS 200 is the perfect choice to fulfill such a purpose. It has all the powerful tools that’s native to the MAS90. Though it may look superficially similar, under the program’s metaphorical hood is a faster, more powerful beast. Data reliability has been improved. Information processing, retrieval and program response times have become significantly faster. Resource management has been made more efficient. A new server/client structural platform grants executive remote access as well as a plethora of scalability options.

The Key to Building Wealth

Many people today believe in order to become wealthy they either have to be born into wealth or have a lot of money to make money. The fact is this just isnt true. Building wealth is a mechanical process and because its so simple its quite boring, therefore many people do not follow through with the formula.

The Problem

Too many people fall into a financial rut and it usually starts when we begin moving money from one credit card to another. Sure this works for a short while, but eventually it catches up with you and before you know it you have $5000 maxed out on your VISA card and $3000 maxed out on your Discover card.

The next genius move I consider was debt consolidation. While this does work and the phone calls will stop, its not a solution for the problem at hand. Your monthly payments become lower and this provides the temptation to go out and accumulate even more debt, eventually taking you back to square one. Not to mention having a history with debt consolidation leads to higher rates on things that count later in life.

Back at square one, the next step I considered was debt counseling and the idea sounded great, they even promised to lower my monthly payments by $300. I managed to avoid this one all together and now that I look back I am glad that I did. What I later found out is that debt counseling is viewed as bankruptcy.

By this time I decided to refinance my home with an equity line/2nd Mortgage loan on my home to get out of debt and it worked perfectly. However, let me tell you a little secret. When you take out a 120k loan on a home that is only worth 90k and the neighborhood starts going downhill like ours did, you cannot sell your home for what its worth. Again, we were stuck in rut where we had to borrow money from family to sell our home. Other home owners in the area were not as fortunate.

At this point in time I was seriously considering bankruptcy. If you think that after seven years nobody will know about your bankruptcy, you are mistaken. In some cases jobs wont even higher you if you ever had a bankruptcy. Most loan applications ask if you have ever filed for bankruptcy and they do take that into account even if it has been 10 years since you filed for bankruptcy. This is when I became desperate and finally cracked the money making formula.

The Solution

In 2005 I made a new years resolution to stop spending money on things that required me to make a monthly payment. Instead, I would take my paycheck and spend it on assets, or things that put money into my pocket month after month. I like to call these assets investment vehicles. It does not matter which types of investments you choose, just as long as they are all leading to the same place financially.