WHAT IS SPREAD BETTING

Spread betting is an account grouping that permits traders who are UK occupants to use the forex market with a tax-free framework, which means capital additions are not taxed by the UK government. From an exchanging and execution point of view, there’s no contrast between the forex exchanging account and spread betting account. A similar stage is additionally utilized for each. Several Uk based forex managed accounts

Spread betting is sans tax because of the UK tax code. So on the off chance that you live in the UK, at that point, it’s to your greatest advantage to exchange a spread betting account. The pip an incentive on the spread betting account is distinctive since the account is designated in GBP.

The spread betting includes taking a wagered on the value development of currency sets. An organization offering currency spread betting normally cites two costs, the offer and the ask cost – this is known as the spread. Traders wager whether the cost of the currency match will be lower than the offer cost or higher than the ask cost. The smaller the spread, the more alluring the currency match. Like spread betting, traders don’t have to really possess any currency. Many managed forex trading accounts are working on hedge funds through the usage of spread betting to earn millions of dollars.

A financier firm quotes an approach cost for the EUR/USD match at 1.0015 and an offer cost at 1.0010. On the off chance that you as a dealer trust that the Euro will fortify contrasted with the USD, you could “wager” € 1 for each point (Pip) the Euro increments over 1.0015. In the event that the EUR/USD after a specific timeframe came to $1.0025, you would get € 1. On the off chance that the cost of the Euro was rather $1.0005, you would wind up losing € 1. Spread betting on shares illustration Say Apple is exchanging with an offer cost of 135.05 and a purchase cost of 135.20. You envision that Apple shares will ascend in the following couple of days because of another item discharge tomorrow. You choose to go long on (purchase) Apple shares for £10 per purpose of development at 135.20. Following three days, Apple shares have surely moved to support you and expanded to 135.50/135.65. You choose a decent time to close your exchange. This implies you’ll be turning out with a benefit of (13550 – 13520) x 10 = £300, barring all every day subsidizing charges. Then again, in the event that you initially chosen to offer Apple for £10 per point at 135.05 and afterward shut down at 135.65, you would have wound up with lost (13565 – 13505) x £10 = £600. By and by, barring any day by day subsidizing charges.

 

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Will the New Bankruptcy Laws Help You?

Bankruptcy Rules Have Changed, Check It Out

There are 2 sides to the changes in bankruptcy rules.
It will be a lot harder to file bankruptcy under chapter 7 and get a totally clean slate.

For businesses, relying on issuing credit, the new personal bankruptcy law is doing great, reducing personal bankruptcy claims from the thousands to double digits.(In the short run).

However, lawyers working with the actual people filing for bankruptcy say that the new law is seriously flawed because it puts more financial burdens on already broke clients and reduces potential debt repayment to small businesses.

And then of course you have the credit card companies charging high interest rates which in quite a few cases caused the bankruptcy in the first place.
According to some financial specialists, much of the debt people accumulate is a result of keeping up with the Joneses and not thinking ahead.

For 80% of clients counseled each month, the debt is credit card related and averages $32,000 – a result of six to eight cards.
Consumer credit organizations say the new law provides debt-reducing strategies for those considering filing bankruptcy and curbs abuse.

 

Under the new law it has become a requirement that the person filing bankruptcy obtains credit counseling both before and after filing for which that person will be charged..

So now the consumer would then know the advantages and disadvantages of declaring bankruptcy. Yet it seems merely another expense for an already financially stressed individual.

People filing bankruptcy in general are not overspenders, but merely faced with temporary financial disasters such as medical costs, layoffs, a divorce, gambling debts or other crises.
Before you can file bankruptcy,you are now required to complete credit counseling with an agency approved by the U.S. Trustees office.

This credit counseling is designed to help you determine whether or not bankruptcy is appropriate.

Once you complete your bankruptcy, the law requires you to attend another credit counseling session.

These are new requirements, before this law was passed the law did not require a person to go through counseling either before or after the filing of bankruptcy.

Second, under the old law, a person could decide to file under Chapter 7 or Chapter 13. Under the new law, the court will look at your monthly income and apply a means test relating to the state in which you live. If your income is less than or equal to the medium income then you will be allowed to file Chapter 7 which in effect will give you a clean slate.

This medium income can vary from $28,000 in Missouri to $56,000 in Alaska.

If your income is greater, you may be forced to file Chapter 13 unless you can demonstrate you do not have enough disposable income.

Under Chapter 13 you will not get a clean slate but will have to make payments on your debts.

Also, your attorney now has to personally certify that your bankruptcy filing is accurate. This means more work for the attorney, with higher legal fees.

Advantages of declaring Bankruptcy:
Legal protection from creditors
Takes care of all or most debt
In some cases, can keep home and car
May stop complete financial ruin
Provides a fresh start

Disadvantages of declaring Bankruptcy:

Bad credit

May have to repay partial debt load and return collateral to creditors

 

May lose assets, including house and car (If the house is worth more than a certain amount).

Bankruptcy becomes public record, and
Remains on credit record for seven to 10 years

“In the past, a bankruptcy offered a fresh start for the filer,” said Columbia attorney Gwen Froeschner Hart. “The new federal legislation offers language directed at helping creditors.”

If you analyze credit card expenses for most people you’ll see that they often include medical bills and day-to-day expenses for the elderly or those earning low or fixed incomes.
Records show that 50% of credit card holders do not pay their full credit card bills every month.

33% of the population can’t afford medical insurance so have to charge their prescription drugs.
With the recent Medicaid cuts and rigid bankruptcy legislation who knows what is going to happen to these people.

There are some who say consumers are abusing creditors.
The irony is that credit card companies are begging for customers and offering large amounts of unsecured credit, yet at the same time, lobbying for stricter debt controls.

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Top Reasons Good People File for Bankruptcy

These days, just about anyone can find themselves facing difficult financial challenges. It is common for good people to do everything possible to make ends meet and still come up short of money. Loss of a job, unexpected medical expenses, divorce, living off your credit cards, or any number of similar situations in life can cause financial difficulty. It’s not a bad thing when good people get behind financially, it just happens.

Sometimes people just need a little relief. Bankruptcy may be one of the ways to relieve some of the pressure and get the help needed to get through tough times. There are many reasons for filing bankruptcy. Bankruptcy is a legal process which provides relief for those who owe more than they are able to pay. The process allows folks to work out a plan to pay off some debt over a period of time, or even eliminate debt altogether. Bankruptcy can help rid you and your family of crippling debt, protect your assets, and provide you with some welcome relief. Here are some of the top reasons to file bankruptcy.

Relief from Massive Amount of Debt

One of the reasons for bankruptcy is to get help with a financial situation that is over-burdened with a lot of debt. Bankruptcy can get rid of the legal obligation to repay many or all debts. Credit cards, mortgage or rent deficiencies, medical bills, and utility bills are just a few of the debts that can be eliminated. Even some tax liabilities can be eliminated under certain circumstances. Through no fault of their own, some families have amassed a lot of medical bills due to some unexpected accident or health crisis like cancer or a long-term illness. Bankruptcy can eliminate many of these bills, get you out from under that huge debt, and provide a fresh start for you and your family.

 

Bankruptcy Can Stop Home Foreclosure

Another of the reasons to file bankruptcy is when people get behind on house payments and find it very difficult to get caught up again. Bankruptcy does not eliminate what is owed on a property mortgage. However, bankruptcy can stop the foreclosure proceedings on a home and allow for a sensible repayment plan. This essentially buys some time, restructures repayment of the past due amount, and brings the account current.

Prevent Repossession of Your Car or Other Property

Protecting your assets is another of the reasons for filing bankruptcy. Filing quickly can provide protection, can force a creditor or bank to return your car or other personal property even if it has already been repossessed. Any past, missed, or overdue payments will be combined into your overall plan for bankruptcy. After you file for bankruptcy, a trustee will be assigned and you will make all future payments to that trustee. The trustee then takes care of all payments with your finance company.

Protect Your Wages From Garnishment

Another of the reasons for bankruptcy is protection from wage garnishment. This can cause a lot of financial stress. A bankruptcy filing will put an end to wage garnishment, allow you to pay what you are able to pay, and keep more of your hard-earned money needed to live on.

Put an End to Creditor Harassment

Let’s face it, some creditors can be very unreasonable when it comes to getting the money owed to them. Some will even resort to using bullying tactics, abusive language, or demeaning comments in their attempt to get money. Some of these tactics are unethical and, in some cases, may even be unlawful. Bankruptcy will place the sometimes unreasonable demands of these creditors on hold. Creditors who are overly persistent calling your home to collect a debt and even legal proceedings to collect a debt may be stopped altogether.

Filing for bankruptcy will also allow hold creditors accountable and challenge their claims of money owed, especially if they’re trying to collect more money than is actually owed. Hiring a lawyer will give you some extra support in standing up to these sometimes unreasonable demands from big creditors. A bankruptcy attorney will also help to put an end to any fraudulent claims or reporting by creditors.

 

One of the Best Reasons for Filing Bankruptcy is to Get a Fresh Start

Bankruptcy is a legal process to help people wipe the slate clean and get a fresh start. Imagine how much relief you will feel when your debts are discharged or reduced and you can breathe again. With a straight Chapter 7 bankruptcy or a Chapter 13 bankruptcy, most or all of your debts can be cleared. There can be any number of reasons to file bankruptcy. Before making any decisions about bankruptcy, you’ll want to get the right information. Sometimes you need some basic information or help with your specific issues. You may want to consider consulting a bankruptcy attorney who can evaluate your specific situation and help you with detailed information on the protections available through bankruptcy. An extremely difficult and debilitating financial situation may be one of the best reasons for bankruptcy.

 

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Filing Bankruptcy Due to Overwhelming Health Care Debt? Protect Your Future

Once you have decided to file bankruptcy to relieve overwhelming medical debt, you must consider how to best protect yourself in the future. Unless you take measures to prevent this debt from reoccurring, you can once again find yourself in medical debt without the benefit of filing for another bankruptcy. Protecting yourself from future medical debt should be one of your first concerns while filing for chapter 7 or chapter 13 bankruptcy. Individuals who have gone through bankruptcy due to devastating medical expenses have learned the hard way that their medical insurance was inadequate, and failed to completely protect them from financial disaster. Most individuals are insured through an employer-provided health care plan. These plans usually cover only a small percentage of the costs incurred after a catastrophic illness or emergency. Some individuals purchase their own health care plans. These individuals are usually self-employed. Individualized health care coverage is very expensive, and these plans have limitations as well. Still, there are options an individual can take to supplement their medical insurance coverage, minimizing their risk, of once again, becoming overwhelmed by medical debt.

 

Customizing health insurance can be a useful tactic. Individuals who purchase their own medical insurance have the advantage of tailoring their insurance plan to suit their individual needs. They can change their deductibles and coverage to reflect their specific health circumstances. Although employer-provided health care insurance is usually cheaper, there is decreased ability to modify this plan to meet their individual needs. One option some employers offer is to provide a stipend in place of health care insurance. This allows an employee to shop for a more personal insurance plan.

Catastrophic coverage is another option an individual can take to protect themselves from future medical liabilities. Catastrophic medical coverage is less expensive, and can be useful in enhancing an individual’s health plan by covering just medical emergencies.

A Health Savings Account (HSA) can be a useful tool in managing medical debt. It is a tax-advantaged medical savings account available to taxpayers who are enrolled in a high deductible health plan. The funds contributed to a HSA are not subject to federal income tax at the time of deposit. These funds roll over and accumulate year to year if not spent. This approach allows the individual to set aside a certain amount every month into their HSA. These funds may be used to pay deductibles and other health care expenses not covered under their health care plan. A Flexible Spending Account (FSA) is another tool employers offer to assist employees to manage health care costs, but FSAs have significant disadvantages.

 

These are a few examples that individuals can consider when optimizing their health care insurance to protect them and their loved ones from medical debt and the threat of bankruptcy. There are many other concerns an individual must consider when planning for a medical emergency, such as the loss of income. Medical emergencies are very unpredictable, and no individual is immune to the possibilities of a medical crisis. It’s a good idea to plan ahead for the financial impact of a potential health care crisis.

D. Dye

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