Is Bankruptcy a Good Idea for You?

6Bankruptcy is a process in which consumers and businesses can eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. For the most part, bankruptcies can be divided into two types – liquidation and reorganization. According to Brian Linnekens there are several types of reorganization and liquidation bankruptcies but Chapter 7 bankruptcy comes under the liquidation and 13 is most commonly used by reorganization.

Figure out what bankruptcy options you have

These are types of bankruptcy most commonly used by individual filers in the United States:

Chapter 7 bankruptcy: According to chapter seven (7) Bankruptcies preceding that can wipe out many of your debts in a three to six month period. However, you may lose some of your personal property.

Chapter 13 bankruptcies: According to chapter thirteen (13) Bankruptcies preceding you will be required to make a repayment plan based on your income, showing how you will pay off your debts in the next three to five years.

Consider your alternatives

Bankruptcy is not for everyone. Indeed, many unnecessary bankruptcies are filed each year. You should sit down with your financial documents and consider your situation carefully before making a decision. You may find that you do not need to file bankruptcy because you can fix your financial woes with a few simple changes.

Ensure that you are eligible to file for the type of bankruptcy you want to file

There are certain requirements that you must meet in order to file for certain types of bankruptcies. For example, you may not be able to file for Chapter 7 bankruptcy if your income is high enough to pay off your debts through Chapter 13. Also, if your income is too low, or your debts too high, you may not be able to file for Chapter 13 bankruptcy because you cannot show that you are able to meet your repayment plan.

Find out what debts will and won’t be forgiven There are certain types of debts, such as child support, money and tax debts, that cannot be wiped out through a bankruptcy proceeding, no matter whether you file Chapter 7 or Chapter 13. Be sure that the debts that you have are types that can be addressed in bankruptcy before you file. It won’t do you any good to file only to find out that bankruptcy will afford you no protection.

Find out if your credit card debts will be wiped out

Bankruptcy has become an effective tool for wiping out credit card debt. You should figure out if your credit card debt will be wiped out by a bankruptcy proceeding before you file. If you lied on a credit card application or spent well beyond your means, bankruptcy may not be able to forgive your credit card debt.

Ensure that your pension plans are safe

Most pension plans and life insurance policies are protected by state laws in a bankruptcy scheduled. Before filing for bankruptcy, it would still be a good idea to find out whether your pension plan (401(k), IRA) and/or life insurance policies will continue to be protected.

Preparing to file bankruptcy – A few tips you’ll need.pptx

Receive credit counseling certificate just before recording your current scenario. It really is must that you get certificates from sanctioned vendors recorded on United States Courts Website. This normally takes about six month. Until and unless you go through counselling you’re not allowed file the case. Undertake it promptly in order to avoid last minute delays.

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How to Invest in Real Estate

About Real Estate

Real estate is a property consisting of land and the buildings on it as well as the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals.

Real Estate Investment Trusts

A REIT is a special corporate organizational form, under the tax laws, invests in large-scale, income-producing real estate. These may include office buildings, shopping malls, apartments, hotels, resorts, self-storage facilities and mortgages or loans. Instead, a REIT buys and develops properties primarily to operate them as part of its own investment portfolio.

How to Understand the Market

There are two main markets when dealing in real estate. One is Private real estate and the other is Public real estate.

Private real estate:

Manager would earn money on rent paid by tenants. This is a very direct way of investing in real estate. Owners are responsible for the property.

Public real estate:

Manager paid dividends as the trust collects rent and value from the multiple properties it owns. Owners are not responsible for the real estate. This is a less direct approach to investing.

How to invest in property

The four sectors in real estate investments are: public equity, public debt, private equity, and private debt.

Public equity:

If you choose public equity, you will want to look at investment trusts.

Public debt:

If you choose public debt, you should investigate mortgage securities, which are the debt equivalent of investment trusts, where various mortgages are bundled together to form a single investment.

Private equity:

If you select private equity, then you will most likely be purchasing residential or commercial property and acting as a landlord.

Private debt:

If you choose private debt, you will invest in private mortgages.

Investing in debt:

If you lend money to someone so that they can buy interest in a property. You earn money in the form of interest payments on a mortgage.

Investing in equity:

If you are investing in ownership of the property. This means you are assuming all responsibilities for the operation of the land and buildings.

Hire a real estate agent

If you want to invest in real estate, you’ll find it invaluable to use an agent experienced in the field of investment properties.
Find a good agent who can help you shop for ideal investment properties.

How can help Agent investing in Real Estate

Discuss your goals and your investment plans.
A good agent can show you properties that fit your investment strategy.

Investment in Real Estate

Four broad categories based on its use: residential, commercial, industrial and land.


Residential real estate revolves around the wants and needs of a homeowner and his family. It involves property purchased for individual use, most often to provide housing for families.


Commercial real estate is business-focused. It involves property that is sold, leased, or used to achieve a predetermined business objective. It’s used as an investment to achieve an anticipated rate of return on the funds invested.


These are manufacturing buildings and property, as well as warehouses. The buildings can be used for research, production, storage and distribution of goods.


This is not only includes vacant land but also working farms and ranches. There are several specialties within vacant land, including undeveloped, early development or reuse, subdivision and site assembly.
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Preparing to file Bankruptcy – A few tips you may need

The worst storms can make even the big ships sink. There are times in life when an entity or an individual is unable to pay back the credits or loans due to many unforeseen circumstances like job loss or income loss. At these harsh times, in order to file bankruptcy, it would be wise to know a few tips and tricks to handle this situation effectively and efficiently.

You might be encountering the same problem and are here to look for a solution. Brian Linnekens has a very in-depth knowledge about debt and credit markets and wants to share a few vital tips in order to prevent your ship from sinking.

What is Bankruptcy?

When an individual or business entity is unable to pay off the out-standing debt the state and federal court announces them legitimately as bankrupt. This process can eliminate or repay a part or all of the debts. It is ideal to investigate other accessible alternatives altogether before you choose to run with it as there are some long lasting consequences to it.

It would be very hard to take cash from money related foundation as insolvency will affect your record of loan repayment antagonistically. In addition, this procedure itself is expensive and awkward.

Filing for Bankruptcy?

Apart from having detailed report of debts you owe, your financial information (includes income, expenditure, assets and liability) and providing information to debt collectors so that they no longer approach you to recover money once the bankruptcy petition is filed in the court. Following four tips will help you to understand how to proceed when filing for bankruptcy.

1)            Receive credit counseling certificate before documenting your case. It is must that you get a certificate from authorized providers recorded on United States Courts Website. This normally takes about six month. Until and unless you go through counseling you are not allowed file the case. Get it done on time to avoid last minute delays.

2)            Hire a lawyer. Though not necessary it is still important to seek advice of attorney.

3)            On the off chance that you can’t bear to contract an attorney you can pick free legitimate services. For more help on this, check with American Bar Association. This is a very cumbersome and risky process, therefore it is better to consult and hire an attorney.

4)            Documentation in addition to the whole process for bankruptcy ought to be finished in the federal court not in the state court. This will cost a few hundred dollars. Take care of all the expenses beforehand.

If you are considering filing for bankruptcy, follow these tips before you proceed to the next step, as this will help you to reach the goal swiftly.

Brian Linnekens advises ways and means to hire a financial advisor

External financial suggestions are very important, particularly, with regard to founded corporations. Nonetheless, financial agents possess a combined popularity within the marketplace for their services supplied feels Brian Linnekens. There’s pool of financial advisers in the market yet most of these are better known for their informative information.

Clear you doubts of hiring a financial adviser

The first and most critical question to understand will probably be your need. You have to know whether a person need guidance or merely data for your funds. For individuals who are simply just searching for some good info including what should be done with pension you can check out several web sites. Websites like these incorporate information about home mortgages plus the best financial savings along with credit card deals.

Nevertheless, when you are short of time and also are not self-confident about your finances, seeking financial adviser’s guidance is crucial. An adviser can recommend numerous suitable products. Ordinarily, experts knowledge addresses diverse areas- some are financial advisers and some usually are broker agents, tax advisers etc. Make sure you hire an impartial agent who can suggest an individual correct products from the market. A number of the tips to hire financial advisers based on Brian Linnekens are:

Use professional financial adviser from the market-

Make certain to check the certificate of the financial adviser to prevent just about any disenchantment. Anyone can’t employ any person from your market to advice you on your finances. Professionals are reliable and their professionalism will be their real strength. Typically, financial advisers must have accreditation from Certified Financial Planner or Personal Financial Specialist. Make sure regarding his status the market along with his prior clients.

Ask in addition to discuss around with friends and colleagues-

To employ a financial adviser, you can ask around from friends as well as peers. You can even examine registries with professional associations including Associations of Personal Financial Advisers to locate good financial adviser.

Know your requirements-

As stated before, you must know why you wish to employ a financial adviser. If you’re apparent with regards to your needs then picking out the proper person to advice should be quiet simple. Given that financial planners expertise is within different areas you should definitely employ the person who matches your requirements by interviewing several different financial advisors.

Know how the advisor gets paid –

A few financial coordinators are paid a fixed amount throughout their tenure so they really don’t demand commissions for the services. However, commission based planners don’t charge their customers for frequent visits rather these people owe some portion in the services and products. Fee-only agents are generally rare therefore, the majority of financial advisers are commission based.

Understand the alphabet soup –

A Certified Financial Planner (CFP) is a individual who would be able to advise you on the whole financial picture. Nevertheless, the particular CFA will be the individual with expertise in investing as well as CPA is a individual tackling with tax concerns. You should choose the one who fits your requirements.

In existing market situation, deciding on the right financial help is absolutely wearisome. Customers need to be extra cautious regarding hiring the very best one. Should you hire a bad individual, it can be unsatisfactory for you later on. Finances need to be handled by a person who is experienced in his area and is trustworthy. Research in addition to planning is essential and do as much as research you can to discover the best one.

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Brian Linnekens helping people to get their credits in order

Your Credit Track Record accommodates all the information about you: your own title, address, your financial health check-up almost everything. Based on Brian Linnekens in our overall economy this is the most essential document that ought to be in order. Even a solitary mistake or blunder upon the actual credit status can certainly mean disaster not only for anyone also for the whole family and everybody that is depending on you for funds.

Not many people are informed that they can challenge the problems and obtain these amended from the credit scoring companies. In fact Brian Linnekens informed us that almost all persons will recognize as well as live with the fact their credit reports incorporate a mistake that may be hampering their own odds of obtaining a loan or even finance regarding something they really need. These types of consumers are under the impression that the credit agencies don’t have ears and aren’t going to pay attention to these people. Sometimes people don’t even have an idea that something is actually incorrect on their credit history since they never go through them in detail.

Brian Linnekens stresses the necessity of keeping an eye on your credit report because you require to be familiar with the different adjustments that occur on it. Nearly all dealings which you make when it comes to your finances exist about the credit reports. Keeping an eye on your credit report serves several purposes which might be really important. You may be alerted in cases of identity fraud. When someone has already been utilizing your name address or phone number to carry out financial transactions that may hamper your long term financial health. Ripoffs carried out in your own name can be simply detected if you’re watchful with regards to your credit score.

If ever you find an miscalculation on your credit report you’ve got full right to rectify this and since it does not involve any heavy charges it’s the most important step with out getting professional guidance. However if one chooses professional assistance it’s almost guaranteed that things will certainly move at a better speed feels Brian Linnekens, a specialist in financial matters.

To correct your credit score you need to get in touch with the particular credit reporting organizations that is Equifax, Experian and TransUnion. Make sure you have identified every item that you are challenging upon your credit rating. Your own statements in your correspondence have to be crisp and clear so that the Credit Unions have the ability to process your request quickly along with exact. You’ve got full right to dispute and also apply for correction or perhaps deletions for the items which you believe happen to be erroneously placed on your credit score. Make sure you attach duplicates of the supporting documents that you’re submitting in order to substantiate your current claim for a correction.

Mail all the documents and also correspondence to the credit agencies via certified mail, return receipt requested so that you are aware that they have received your request. The Credit Bureaus will probably investigate your claim and remove any errors or red marks that are present on account of oversight or even wrong reporting nevertheless the changes will only be visible when the subsequent credit report is going to be created which may have a TAT of 3 months.

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Credit Scoring with Brian Linnekens

Credit Reporting is one factor that keeps almost all Americans on their toes. Although it’s a simple process and a simple reporting yet people are scared to death at the mere mention of a credit report observed Brian Linnekens. There are many myths that have made their way into the public domain via word of mouth. Myths don’t have any solid ground yet people are scared because of ignorance as to how credit reporting is done. Once individuals know the process and the fact that credit reporting and credit scores are for the befit of the common people and can be used to increase their individual borrowing capabilities it becomes quite easy to manage everyday finances that have become sort of burden for the average American these days.

Experts like Brian Linnekens suggest people to at least have a look at their credit scores at least once a year. As major credit reporting agencies provide a copy of your credit score every year space them out so that you have an even chance of checking your credit score every four months that will ensure that you are not ignorant of your financial health. Having a mere look at your credit report is not going to take you anywhere. You need to be able to tell the facts from the myths that surround credit reporting suggests Brian Linnekens.

People keep wondering why they are not qualifying for a debt with a low APR in spite of settling all previous debts where some problems persisted. Well the truth is that settled debts don’t get dropped from your credit report. Late payments and bad debts are not dropped instantly from the credit report even though they have been settled amicably. The late payments and bad debts are there on the credit report for a good seven years. Even worse a bankruptcy mark will be there for ten years on your credit report.

There are many who believe if they stop using the credit card their credit score will shoot up. This is not the case you may use cash for all your purchases but that is not going to make any difference to your credit score. Don’t stop using credit instead use it responsibly. Making your payments on time will surely give you an advantage and you are sure to receive a benefit in your credit score if you start using your credit card more responsibly.

Closing on a credit card can do more harm than good. Agencies involved with credit reporting need to see a low credit utilization which is the ratio between the credit you are using and the credit that is available. Thus closing a credit card will reduce this ratio as you are not decreasing the outstanding credit but you are closing on the available credit.

Don’t be afraid to make inquiries about your credit rating advises Brian Linnekens. It hardly affects your credit score if you are making soft inquiries for personal reasons. But if a bank or a financial institution is making an inquiry then there is a small effect on your credit score. The effect is small but it is measureable. Thus the best option is to make a soft inquiry if you are in a doubt about your credit score.

A high income is does not affect your credit score. Since credit score is a measure of how you manage your credit thus income plays a negligible part in the credit scoring. However Brian Linnekens says that if you have a fat paycheck make sure you manage your credit in the best possible manner as it will surely help in a better credit scoring.

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