Bank finance articles and tips

WHAT IS THE "AUTOMATIC STAY" IN BANKRUPTCY?

When a person files for bankruptcy (Chapter 7, 13, or 11), all his or her creditors are immediately prevented from attempting to collect the debt. This is called the "automatic stay." This means that filing for a bankruptcy immediately relieves a person from creditor harassment such as annoying phone calls, lawsuits, repossessions, foreclosures, and any other method for collection of a debt.

Likewise, prior to Bankruptcy, a creditor may initiate the wage garnishment procedure against you in order to take 25% of your wages. The filing of a Chapter 7 Bankruptcy automatically stops the creditor from proceeding with the wage garnishment. In the same manner, your finance company can be stopped right away from repossessing your car. These are all examples of the "automatic stay" of Bankruptcy....

n today's harsh economic climate, more businesses are struggling to stay on top of their debts. However, as credit becomes increasingly scarce and customers continue to feel the pinch of strained finances, it's no surprise that more businesses are considering filing for Chapter 11 bankruptcy.

If you're a business owner considering filing Chapter 11 bankruptcy this article will outline exactly what you need to know....

You may never have heard the term "mobile wallet" before, but if you are involved in merchant credit card processing, pay attention. This is the wave of the future. Mobile wallets will be one of several ways to process payment no matter where you are in the next few years, and for a business that doesn't stay in an office, it can make closing the sale much simpler....

In the past, many employment agencies would charge unreasonably high prices to an employer, who hired that company for job placement, and for matching up the potential candidates for the job, and placing the right individual for the job that the employer was hiring. Employers were spending thousands of pounds annually, basically for the employment agency to do the screening work for them, and to choose the candidates, that would make the best fit for that employer. However, today, many agencies are offering the flat fee recruitment option, since the world of e-recruitment has come around, and the recruitment agencies are trying to stay in business, they have taken on a flat fee service rate....

In the technology-driven world of today, almost everything is automated. This demands that businesses stay ahead as far as technology is concerned to ensure that clients can access data on their computers as they need it. Like all other machines, computers will sometimes fail. For some service providers such as banks and hospitals, this can have far-reaching detrimental results. It is therefore necessary to ensure that IT managed services are always running smoothly and that measures are in place to take care any glitches that may arise in the shortest time possible.

Larger firms will usually have an internal IT department who take care of any glitches as they occur. Smaller firms need these services as well but the expense of having an internal IT department may not be justifiable. They may therefore rely on external IT support companies.

There is a lot of angst arising from the new debit card fees that some banks will be charging their customers. These fees will be in addition to any existing monthly service fees they are currently paying.

Consumers are becoming more conscious of interest charges and, in an effort to become more financially responsible, many of them have started using debit cards, money from their own bank account, to help stay within their budget and to avoid paying the extortionate interest rates of credit cards.